You want to buy a house but you can’t because the market has gone crazy. So what do you do?
The thing you don’t do is nothing because you could miss a great opportunity.
So keep your eye on the market, keep talking to neighbours, agents, friends, anyone who you think who could help you on your crusade. But it’s also a great time to think outside the square a little.
Here are some ideas:
- Broaden your search for a home or look for something smaller than you had hoped for. You may have to move one or two suburbs away or sacrifice a bedroom or a pool or something – but you could still find a good property to buy.
- Hire a good buyer’s agent to help you find your dream property and negotiate on your behalf without the emotions.
- Do a letterbox drop with a personal letter into homes you like, asking if they’re interested in selling. You might end up paying the same as if there was a real estate agent’s commission, but the owner would end up with more in their pocket to sweeten the deal.
- Become a rent-vester – Continue renting a home in the area you love while you buy an investment property in an area you can afford. It may not be Plan A, but it’s a great Plan B and gets you into the market. Just make sure you check the rental demand, vacancy rates, and potential for capital growth on anywhere that you’re going to invest.
Keep actively looking – go to Open Houses and auctions, talk to agents. You just never know what will happen. Someone’s finance may fall through or something may become available off market and you might just be in the right place at the right time.
Good luck! If you need referrals to anyone who can help you or if you need to secure pre-approval, I’m just a message away!