Whether you’re a buy-to-let investor, first time buyer or home mover, 2016 is the year to take the leap into the property market.
Take the Leap into the Property Market This February!
As we know, we have an extra day this year and the 29th February only occurs every four years. At the height of the property boom, which fuelled the housing crash, this is how frequently many people moved house.
In recent years, buyers and vendors have been more restrained when moving home. The reasons people move have been for more serious and necessary reasons, such as a new job, a baby on the way, debt or divorce.
Due to the need to move quickly, asking prices have also been set at much more realistic values – sellers aren’t just willing to sit in their property hoping that someone buys their property for the hugely inflated figure their estate agent suggested anymore.
With the recession finally behind us, people are considering moving again, and recent data proves that first time buyers are finally being given the chance to get onto the property ladder.
With interest rates remaining low and the economy strengthening, why not make spring the time to move home?
With a shortage of supply and high demand from buyers, it is likely that your home will sell quickly – but ensure you have somewhere to move to first! You may be in luck, however, as many sellers are likely to put their properties onto the market as the good weather arrives.
And if you’re a buy-to-let investor, now is the perfect time to invest. As of April, landlords will face a higher rate of Stamp Duty (3% extra) on the purchase of an investment property. To avoid this surcharge, you must complete on a sale before midnight on 31st March – don’t miss out, the additional costs may crush your buy-to-let dream.
If you’re not quite ready to take the leap into the property market, don’t wait another four years – you don’t know how many opportunities you might miss before 2020…