Why you should inspect those other properties
In light of the shortage of listings in the Upper Hutt market compared with recent years I thought I would ask the question, “As a buyer, have you ever bothered to look at properties that don’t have the features you are after?” Most people would be surprised at the very thought, but in fact, there are times when it might be worth it.
The number of properties a prospective buyer needs to inspect before making a decision varies from person to person. Most people need to look at quite a few before they are ready to take the plunge.
But what do you do when there is very little for sale and almost nothing that matches your criteria?
It can take a long time to look at enough properties to feel you have the market worked out. And what happens if you find something you actually like but you don’t feel ‘ready’?
This dilemma often happens when there are lots of buyers and very few properties on the market. Often called a sellers’ market (because it tends to favour sellers and disadvantage buyers) it is frustrating for buyers who just want to find something they like in a reasonable time frame, and often before the prices go up. This is where it can be useful to inspect even properties that don’t appear suitable. After all, they can still help you to get to know the market and what prices properties are actually achieving and you are likely to be knowledgeable enough to buy sooner and with the potential to save money as well as time if the market is rising.
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