
We have run out of excuses, so is it finally time to move?
Now that the quartet of economic shocks in the UK have been written into the history books, namely Brexit, the pandemic, the General Election, and the UK Budget, we seem to have run out of excuses not to buy or sell our properties in 2025.
There have been countless financial shocks that have caused hesitation and procrastination to so many property owners, when it comes to our decisions about moving home. Have we all been living in the wrong house for so many years, either because it’s too small, too big, in the wrong location, or we are just waiting for “a better” time to move?
How many hypothetical house movers spend countless hours, days and months viewing properties on portals just to see what’s out there, only to stop and then not act, even if they’ve found somewhere that could be just the answer to their residential situation?
The time to open a new door and to close an old one is quite likely to be this year, as now there doesn’t seem to be any viable justification to delay. Mortgage rates are higher than two years ago, but mortgage costs as a proportion of income has fallen in the last 12 months and buyers have more certainty about what they will have to pay. At present, stock levels are reasonably good and likely to get better during the spring, and buyer competition isn’t too fierce. Therefore, agreeing terms can be far more straight forward, as there is an air of stability which brings with it confidence.
A Labour government is now in place and the Budget is out of the way, so there shouldn’t be any more political surprises for a while. Therefore, knowledge of what everyone has to pay in the home buying and selling process is clear.
Will 2025 be your year and have you run out of excuses to sell or to buy?