Buyer

Buying UK property in 2023 – six do’s and don’ts

3 January 2023
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If you’re anything like the team at Nokkel, you’re always on the search for the perfect property. Whether it’s bought as a financial investment, or chosen as your ‘forever’ home, the notoriously time-consuming process can put you off ever grabbing the golden ticket and relocating.

But that’s where we come in. Because our company’s mission is to help UK property buyers unlock their dream homes. So, before you resign yourself as just another sorry representative of ‘Generation Rent’, let’s run through some of our cardinal do’s and dont’s of the property search…

DO: Research and know the area
DO: Find effective tools to help
DO: View properties
DON’T: Underestimate overall costs
DON’T: Only look at superficial details
DON’T: Rush into a decision

DO: Research and know the area

When searching for a property, location is one of the first things we think about. After all, the potential new neighbourhood is just as important as the home itself. Consider yourself a savvy investor and be sure to look into factors like commutability, crime rate, schools, amenities, and local facilities.

With the Nokkel app, you can create custom wishlists to organise quality properties that catch your eye (whether it’s on or off the market!), and we’ll let you know when they become available for purchase. You can also use Nokkel to research local facilities including public transport, recreational space - and more to come.

DO: Find effective tools to help

Searching for property with Nokkel is a fun & convenient way to assist you through the journey of purchasing new property. Consider us your well-informed companion, allowing you to be highly selective and discerning in your search. We have a database of every property in the UK, with information you need to understand what influences its valuation to help build a more holistic view of a home.

DO: View properties

There are endless benefits to touring different properties. Experiences like this will help you narrow down the specifics of what you want in a home and its location.

Consider your lifestyle needs; can you walk to get essentials, or do you need to drive? Are there parks and areas of greenery close by? Easily examine a property’s nearby transport options and a range of recreation spaces (within walking distance) via the Nokkel app.

For example, are you considering relocating to a rural area of the UK? Keep an eye out for determining factors like whether the property is connected to central heating, a main sewage system and gas network. Don't be afraid to ask questions about any aspects of a property. And if the property you've fallen in love with is not on the market yet, simply connect with the owner via the Nokkel app. If they aren't part of your network, we'll make sure to reach out to share your interest.

Buy your dream property

DON’T: Underestimate overall costs

If you’re a first-time buyer, it can be easy to focus on saving up enough funds for a deposit and forget about the additional expenses involved. Considering this, before you begin your property search, first determine a budget that can accommodate both your finances and goals.

Are you an experienced homeowner? Well, you’ll know that the British real estate market is a viper’s nest of hidden clauses and costs. Account for a budget of residential property rates, solicitor fees, stamp duty, survey and valuation costs (& more!). Honestly, it’s enough to make your head hurt, so head to a financial advisor or mortgage broker if you can.

DON’T: Only look at superficial details

It’s a top tip to ask as many questions as possible about a property. Having a proper survey conducted is a must. The goal here is to ensure that you’re made aware of anything and everything that has the potential to put the property at risk, and affect its potential value. Even if a property looks amazing at first glance, it’s extremely important to check for issues that can end up as expensive future repairs. Remember: what you find in a survey can often lead to a lower price too - so it may seem like a lot of a cost upfront but it's worth it.

DON’T: Rush into a decision

Being highly selective and discerning is a great characteristic to have as a property finder; so try not to rush into anything until you’ve taken the time to assess everything about a property and how it will work for you. The fear of losing a property in a busy marketplace has pressured many into making too quick a decision, which could lead to a stretched budget. Equally, investing the time upfront to make sure you're prepared better equips you to move quickly if you have to.

Buying a property is a huge financial commitment, and potentially a profitable investment if you choose wisely. With this in mind, don’t simply write off a property because it’s not ‘ideal’. We believe that property should be tracked just like any other financial asset, and you have a wealth of opportunity to positively affect its future value and optimise its potential.

While it’s true that overthinking can result in you missing out on your dream home; remember that there will always be another property. Moving home is too important to make a rushed decision, and with Nokkel you’ll never have to. We’re the intelligent companion tool working to help our users optimise their search to never miss out on dream property.

If you can't find your dream home or the market is too competitive, why not use Nokkel to help you uncover an off market property?

Download our free app and Nokkel some properties today here.

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Nokkel

Author, London

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