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TOP WAYS TO GET READY FOR THE SPRING PROPERTY MARKET

Updated: Feb 20

According to comprehensive data gathered from Ireland's property market over the past few years, April emerges as the best month for property listings. The warmer weather, longer days and good timing combine perfectly to make this an ideal time to start your property search. But that means it's also a competitive time so it's wise to get ready for the Spring property market in lots of time. Here's our top 6 ways you can stay ahead!


1. Get Mortgage Approval in Principle

Getting your finances in order is crucial before starting your property search. This is where a qualified mortgage broker like Financial Equality Services can really be of benefit. They will help you to understand your borrowing capacity, all of the associated home-buying costs and get Approval in Principle (AIP) for your mortgage. This is normally valid for 6 months so gives you plenty of time to find that dream home. 

 

2. Research the market

Now that you know your budget, take some time to research the neighbourhoods, and property values in your desired location. Websites like Daft.ie and MyHome.ie offer extensive listings and insights into the market. Consider factors such as proximity to amenities, transport links, and local schools when narrowing down your search.

 

3. Attend Open Houses

The majority of properties will offer Open Viewings when they initially come to market. Take advantage of these opportunities to explore different properties firsthand and get a feel for their layout, condition, and surroundings. Don't hesitate to ask questions and take notes during your visits to help you compare properties later on. These can also be really useful in helping you see the potential that different properties may have. 



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 4. Stay Flexible

In a competitive market, it's essential to remain flexible with your preferences and expectations. Be prepared to compromise on certain features or locations. Finding the perfect property that ticks all the boxes can be challenging. Keep an open mind and trust your instincts when making decisions. You may also have picked up different ideas from other properties you have viewed so think outside the box too.

 

5. Don't be afraid to negotiate

Negotiation is a big part of the property buying process. Remember it may not just be the price that comes into focus. The closing date and inclusion of certain fixtures are just some of the other areas that can be part of the negotiation process. A professional and experienced estate agent will help both the vendor and buyer to reach the best agreement for both sides. Ensure you build a good relationship with the estate agent and work with them to determine an appropriate bid based on market conditions, comparable sales, and the property's condition.

 

6. Conduct Due Diligence and Close

Before completing the purchase, conduct thorough due diligence on the property to uncover any potential issues or concerns. This may involve hiring professionals to inspect the property for structural defects or legal issues. Your solicitor will work with you to ensure all legal requirements are met, and all necessary paperwork is in order. There can seem like a lot of administrative at this stage but it will be all worth it.

 

If you'd like to take the first steps to get ready for the Spring property market, then get in touch with us at Financial Equality Services to discuss your mortgage options. Then it's time to start house hunting!

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