Is now the perfect time for first time purchasers to join the housing market?
Wednesday, September 9th, 2009 Subscribe To Our Feed
Recent calculations show that in the month of July there was a 1.7% growth in the price of houses across the UK. This, at first glance, would seem a very positive indication that the housing market is on it’s way to a recovery and suggests that the time may be right for first time buyers to step into the market. It may also suggest that the chance to Sell Property Fast is increasing.
There are lots of first time buyers out there who have been waiting for the bottom of the market to come so that they would not pay over the odds for a house and possibly end up infall into negative equity. These people along with all the other house owners wanting to move house will presumably now be taking stock of the situation and thinking that they should move now before any further increases happen.
These new calculations are of course a very encouraging sign for the home owners who strive to make a Quick House Sale. Up until this point they may have had virtually no or no interest in their homes as first time buyers and the rest of the market held back to see if values would fall lower as many predictions suggested. These homeowners may well have been selling properties for sale at reasonable prices but with the hint of even more reductions buyers have simply been waiting it out. Asking that the estate Agents “Sell my Property fast” has been a bit of a pipe dream until now.
However in order for the first time buyers to make sure they do get a house before prices begin to increase they must have been getting ready during the months of the crisis. Mortgages are still very hard to get hold of and so if the first time buyer has not acquired himself a decent deposit then actually taking that step to buy now, and making sure he gets himself a bargain, may not be as easy as it first seems.
First time buyers in a good financial situation may well be able to achieve that purchase fairly quickly and indeed get themselves a good purchase but those who have not prepared well may find themselves missing the chance if prices continue to rise before they are able to secure that mortgage loan.
So it would appear that it is a great time now to step onto the housing ladder but only the most financially steady and well prepared will realize this, those not so stable will have to work on their financial position and hope that the lenders begin to soften their criteria for lending and that house prices do not grow vastly in the short term.
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