Is now the right time to buy?
This is a question that we get asked all the time right now.
Unfortunately, the answer is not a simple one because it is totally dependant on your individual circumstances.
If you've lost your job or your income is insecure due to the current economic climate, then buying a new home will be precarious. You’d also probably struggle to get a loan with this scenario. However, if you're financially strong and have a deposit ready to go, then it's easy to argue that with circa 2% mortgage rates, 2020 could provide an opportunity too good to ignore!
Our tips in uncertain times are:
- Buying and selling in the same market is often the safest strategy
- Buying with the intention of holding for a longer time period tends to reap the best rewards
- Speak with your financial advisor to clarify your financial position