Tips for buying in a busy Cotswold market
The Cotswolds has always been a popular place to live. Particularly since 2020, more and more buyers have a strong yearning to purchase a property in this beautiful region of the country.
With a 50% reduction in properties on the market for sale in the Cotswolds, it is exceedingly difficult to secure your dream home.
Be clear on your requirements
Have a well-defined list of requirements. With this, you will be better placed to make fast and efficient decisions on which properties will suit you.
Simply, there are not that many properties in the Cotswolds as it is sparsely populated compared with other parts of the country. There are no cities, just market towns, villages, and remote rural properties. Most residents remain in their homes for over a decade on average, meaning the frequency of sales is low. More often than not, buyers regret not compromising sooner, especially in a market where prices are climbing as they are now.
Speak to us: estate agents
Particularly at present, when sellers can sell easily but struggle to find their next home, they ask us to quietly market their property for sale off the market. If you are not on our radar, you will miss out on these opportunities.
Use the OntheMarket property website
A number of agents, including us, list their properties on their websites and OntheMarket.com days before Rightmove. Get ahead of other buyers by registering for alerts with OntheMarket.
Have your finances in place
If you need a mortgage, make prior arrangements with your mortgage lender or financial adviser, and obtain an Agreement in Principle (AIP). This demonstrates that you are in a position to buy. If you are purchasing with cash funds, make sure they are accessible and show proof of this when making your offer.
Properties are selling fast. If you find a suitable purchase, don’t play games, put your best offer forward and cross your fingers. If you secure it, move forward as quickly as you can with the legals, survey and financing to secure the purchase with an exchange of contracts.
If you are reliant on selling your home
In a strong market, this is always difficult. You are reluctant to put your home on the market until you have found a house to buy. However, if you have not agreed a sale on your home you are very unlikely to be able to secure your next home - the property will be sold to a proceedable buyer before you can get yours on the market and secure a buyer. So, either take the plunge and go to the market or speak to us. We are currently putting together chains of properties off-market and if we know what you are selling and what you want to buy we will do our best to create a perfect move for you, without the stress of an open market sale.