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Is it wise to buy now or wait till spring?

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Hi, wondering if anyone has an opinion on the below?

 

Our current tenancy is up on October, and we plan to buy a house.

Is it wise to try and get an offer accepted now or will a lot more properties come on the market in spring?

I would love to get it all sorted ahead of time so I am confident I won't have to move somewhere else for a month or two whilst our purchase goes through. But am I shooting myself in terms of choice of properties? So far I have only seen one property in the right price bracket in our target area and it's not ideal (think we can get it for the right price but there's no shower/odd-shaped garden/tired interior, and ideally we want somewhere that feels like a home right away).

 

Thanks for your thoughts!

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Broomhill/Crookes area, budget is 200-225k. (The closer to Broomhill the better.

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I would say try and buy now as more people will be looking spring so you may get a better bargain now? Obviously only by something you really want don't settle cos you can't find what you want! If it needs renovating give us a call lol http://www.rightmove.co.uk has a lot of propeties on.

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Whenever I bought something, including my house, I never subscribe to timing the market that much.

 

You bought when your own circumstances is right. If you can wait until April, then by all means.

 

But who knows what happens in the next few months? Banks might pull their mortgages, you might not be in strong position due to job security, needing to move too quickly (can't afford to negotiate too long) etc.

 

So the right time is your time :)

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Whenever I bought something, including my house, I never subscribe to timing the market that much.

 

You bought when your own circumstances is right. If you can wait until April, then by all means.

 

But who knows what happens in the next few months? Banks might pull their mortgages, you might not be in strong position due to job security, needing to move too quickly (can't afford to negotiate too long) etc.

 

So the right time is your time :)

 

Much the same, if you find the perfect property, in your favoured area, within your budget, what's the point waiting? If you're waiting for the market to bottom, how do you know that it already hasn't?

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Thing is you can't help but look even if you're not planning to buy until later in the year. Then you may see something you are really interested in and go and view anyway.

Just start looking now and you have plenty of time to find the perfect, or as near as perfect as you can.

Don't be too hung up on the interior, you can change that. Its the location, size of garden etc.. you can't change.

You're limiting your choice if you want somewhere which needs little or no work doing.

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Are you a first time buyer? Because you can avoid paying stamp duty of 1% on a house up to the value of £250,000.

However this ends in March... So if you are buying a house worth £225,000 after march you will need to find another £2250. Something to consider.

 

Also they say that houses are 10% cheaper in winter due to the lack of buyers.

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