2025… New Year, New House

With the New Year being a time for new resolutions and fresh starts, could 2025 finally see you buying your dream home? When the festivities are over, and dry-January fades, could the excitement of a new home be just the incentive you need to make this your best year yet?

Buying a new home in January

The first month of the year is also notoriously hard on personal finances as we suffer the fallout from the Christmas shopping frenzy.

But, if you are motivated to go house hunting, and your finances can take it, January is actually a very good time to think about buying your new home.

Sellers that have been on the market since before the traditional downturn in November, may now be keen to sell and will look favourably at offers. In the same vein, those that are new to the market, but keen to move, may also consider a good offer as they may wish to cash in their investment sooner rather than later.

Also, January usually sees a higher number of divorce applications than any other time of year we’ll just leave that one with you.

Another important fact about purchasing during the darkest month of this year is the potential to pick up a good mortgage deal. Whilst housing prices are not expected to do anything too significant over the next 12 months, the mortgage market may be facing a bit of a boost.

With first time buyers being incentivised and welcomed back to the market and investors bowing out with changes in tax laws, your lender may be able to offer you a good deal on your next mortgage.

Selling your home in January

Having just laid out some great reasons why it’s a good time to buy this month, selling a home in the winter does have some particular challenges associated with it, but January is not the dead zone you may think it is.

Plucky buyers, full of enthusiasm for the year ahead can only buy what is available to them, and this is where you get to take the reins again.

Fewer new instructions throughout December and a slow increase in January means that demand usually outstrips supply.

The advantage of this of course is that you have more control over the price you want to achieve even though it is not just about the price.

You will no doubt want to find a buyer who is in a position to meet your particular timescale requirements.

Long chains are no good of you are in a hurry, whereas a cash buyer chomping at the bit can cause you grief if you are looking for find something rare and unusual.

If you are prepared to wait until the Spring to secure a sale, getting your property ready to market in January gives you enough time to undertake any improvements in readiness for an influx of Spring buyers

Mortgage advice

You should speak to a mortgage adviser as soon as you start contemplating buying a property or remortgaging an existing one.

Engaging an adviser early provides many advantages, including financial preparation and understanding your borrowing potential.

We have a team of experienced advisers who can guide you through the process from start to finish.

Solicitors and conveyancing

A solicitor or conveyancer is required when buying, selling or remortgaging your home.

They will ensure the legal aspects are handled correctly, from paying off your old mortgage and updating the title deeds, completing necessary checks and searches to protect you and your new mortgage lender.

Your home may be repossessed if you do not keep up repayments on your mortgage.