Don’t buy a house without watching this video!

Thinking about buying a home? The housing market can be a complex beast, and navigating it as a buyer, especially for the first time, can feel daunting. But fear not! This episode of Citrus Insights is here to equip you with valuable knowledge and actionable tips.

Richard Harris sits down with James Hincks, co-founder and MD of Jack Charles Estate Agency. James offers his insights on the current state of the UK housing market in 2024 and shares his top three tips for anyone looking to buy a house.

The Housing Market in 2024: A Bumpy Ride

The conversation starts with a look back at the year so far. While the market began strong on the back of talk about potential interest rate cuts, a period of low supply and high demand followed in March and April. This frenzy came to a halt in May as interest rate cuts failed to materialize. However, James observes a positive resurgence in June, fueled by pre-election anticipation of a potential rate drop in the latter half of the year.

Don't Wait for Interest Rates to Fall

One of James’ key takeaways is that waiting for interest rates to drop might not be the wisest strategy. He acknowledges that a decrease is likely, but pinpointing the exact timing is difficult. The market, he suggests, is already showing signs of renewed excitement, and house prices could potentially rise before rates fall.

James' Top 3 Tips for Buying a House

  1. Be Prepared Financially: Do your homework before embarking on your house hunting journey. Get a clear picture of your affordability by seeking financial advice and understanding your borrowing power.
  2. Keep an Open Mind: Don’t get hung up on a specific vision of your dream home. Be flexible in your search and consider properties that might not have been your initial preference. This could lead you to a house that not only fits your current needs but also adapts to your future plans.
  3. Get Registered with an Estate Agent and Build a Relationship: In today’s digital world, many buyers rely solely on online portals. However, James emphasises the importance of registering with an estate agent specialising in your desired property type. This allows you to build a relationship with the agent, who can proactively connect you with suitable properties before they even hit the market.

Watch the Full Video for More Insights

This article provides a brief overview of the conversation between Richard Harris and James Hincks. To delve deeper into the discussion and gain even more valuable tips for buying a house in the current market, watch the full video.

Considering Buying a House? Don't Wait!

By understanding the market trends, being financially prepared, and building relationships with estate agents, you can confidently navigate your house-buying journey and find your perfect home. Remember, the right time to buy a house might be sooner than you think!

See more of our videos on our YouTube channel.

Make sure you don’t miss out by subscribing to our channel.

For our latest news click here.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

The Financial Conduct Authority do not regulate some buy to let mortgages.

What is the impact of UK, France, and US Elections on your investments?

We are thrilled to present the latest episode of Citrus Insights, featuring an exclusive interview with the brilliant Lindsay James, Investment...

Citrus Bites Election Special: What Does the Election Mean for Your Money?

After six weeks of campaigning we finally know the result of the election. So, how will a Labour win impact our finances. In our latest Citrus Bites...

Don’t buy a house without watching this video!

Thinking about buying a home? The housing market can be a complex beast, and navigating it as a buyer, especially for the first time, can feel...