To buy or not to buy, that is the question…
Why buying now is a great time!
With a general sense of unease regarding the current financial climate looming in the air and the fast-approaching season of mulled wine, gift wrapping and beautifully decorated trees, a lot of people can stumble over whether to stay active in searching for their next property purchase or not.
As we discussed last week here, despite the standoffish mood the economic climate is giving to us right now, there are many tips and tricks of the business to harness this for your greatest good, the same is true for the holiday season. This can actually be an amazing time to view, offer and buy!
The ability to change how you look at your current market circumstances is what makes a great investor.
Perspective is everything!
We can all agree that house selling is a task not for the faint-hearted. Coupled with the never-ending holiday prep to-do list, most potential sellers will run a mile. This means a lot of people who don’t need to sell right now will hold out until the Spring. This is great news for us. This leaves a market of the most seriously motivated and committed sellers who are available right now!
These are exactly the kind of transactions we want to enter. With some kind of reason to sell up, they will be more inclined to listen to serious interest and consider negotiations. Plus, having a reason to sell means that the chances of the sale moving quicker, smoother, and reaching a successful completion are higher. Yay to winter sellers; we salute you!
It’s not just the sellers who make this a great time, but the lack of buyers also strengthens our position. With less competition in the buyers' market, the power can really lay in our hands. Offers and negotiations don’t get overshadowed by another’s, which means they have a better chance of acceptance AND therefore, maybe just maybe, we can have a peek into the price bracket above our original plan to have a look if there’s a hidden gem we can negotiate on and add to our portfolio.
One final and maybe the most important message for today is that although interest rates may be high, they will be the lowest we will see for a while. This means that if you are wanting to purchase a property, it’s better now than later. You could save a serious amount on any monthly repayments if you lock yourself in with a lower interest rate now than a higher one down the line.
Get it while it’s hot.
So wonderful community, once again, this journey of investing we are all on is calling for us to turn up with our confidence, thinking outside the box attitude and to be ready for action. What fun, right?
So to recap for your notebooks…
🌟 Motivated sellers mean time and money saved
Transacting with a motivated seller is always a buyer’s dream, and this is the time of year we can find them. But remember to enter into a negotiation ready and prepared as well to meet their needs of a smooth and hopefully quick sale.
🌟 A quiet buyers' market means less competition
We can negotiate confidently, knowing our interests and offers are not as likely to be up against a score of others. But remember the balance between good deal negotiations and offensive ones. It’s important to maintain a good buyer-seller relationship to succeed in being a successful buyer.
🌟 Be wise about interest
Although rates are high, they are probably the lowest we will see for a while. There’s nothing worse than looking back and thinking…. Why didn’t I do it then?
To see if the Lady Landlords mentorship program is right for you, schedule a call here.