New figures from the Building Societies Association suggest that despite falling house prices and rising costs, over one in four people feel that it is a good time to buy a property in the UK. Although, the proverb ‘never catch a falling knife’ springs to mind, it does seem clear why some people, including UK First Time Buyers feel positively about buying a property in this climate.

 

Under the strain of the current market conditions, many UK property developers are giving buyers and first time buyers big incentives such as mortgage subsidies and cash back offers to offload their newly built homes.  This poses significant opportunity for potential buyers to negotiate a great home at a knock down price.

 

So if you are a First Time Buyer looking to buy a new property, how can you take advantage of the current climate and negotiate the best deal?  Firstly, the most important thing is to assess your finances and understand the type of properties that fall into your price bracket.  Once you have established where you stand financially, you must be willing to put in the ground work. By researching different locations and properties you have the best chance of finding the bargains.  The internet is a great place to start your search however the other alternative is to visit your local estate agent who will have expert knowledge of the market in your area and perhaps any special offers on the go.

 

Once you have found your ideal property, one way to kick start the negotiation process is to find an experienced solicitor or estate agent who may be willing to act on your behalf.  As experts, they will be able to offer advice and walk you through the negotiation process.  However, there are other viable alternatives to consider such as representing yourself through the negotiation process, but for many First Time Buyers gettting expert help is probably the best option.

 

Among other things it is important to make sure you strike the right balance between asking the right questions and showing that you are knowledgeable about the market.  This will show the seller that you are serious and are able to drive a hard bargain.  

 

Stay calm throughout the process, do not let your heart rule your head, keep an eye on your financial position and have the courage to stick to it.  Finally, don’t be reluctant to ask for ‘extras’ or discounts before you sign the deal as in this climate there are many to be had.