If you’re familiar with Birmingham, you’ll know it is a city filled with young people. With lots of universities, students are a large portion of Birmingham’s population. This means there are lots of potential first-time property buyers and also a great place for property investment.
If you’re looking to start your climb on the property ladder as a student, it can be challenging. With a small supply of houses and lots of demand, house prices are continuing to rise.
Even if you have saved up for a deposit finding a house that suits you before someone else snags it is tricky indeed. No one likes losing a bidding war!
Birmingham is a great area to buy investment properties if you’re looking more at the business side of properties. With a growing economy, house prices are set to rise in the next few years.
But again, it can be hard to find a house without having to bid too high and eat into your potential profits.
To try and help with these problems, we’re going to introduce you to off-market properties. With off-market properties, you can find houses in areas where demand is very high, and there’s lots of competition.
They’re an excellent way for finding properties you love without all of the fuss that comes with it- say goodbye to long, draining bidding processes!
Off-market properties are houses that are not publicly advertised and listed on housing markets. You won’t find them on mainstream property websites or at your local estate agents.
Typically, these are houses sold directly by the seller to the buyer. Just as you would sell your old car straight onto someone else- it’s the same but just a house instead!
It’s not common to see large property developers selling off-market. It’s much more likely to find one individual homeowner or even a landlord who’s very keen to sell their house quickly.
It’s important to know that this doesn’t mean there’s something wrong with the house- the buyer is just in a position to sell quickly or more peacefully!
These houses aren’t as typical because it’s more difficult for sellers to find many buyers unless they have one already. But when you find a seller, you can usually discover a great house that you wouldn’t find elsewhere.
Off-market sales are most familiar with high-value sales. With these kinds of sales, the houses are more likely to be looked at by high-class clientele who prefer more private transactions. So if you’re looking for or buying a very large or well-known house- off-market is the way to go!
But you can still find more ordinary houses being sold off-market. This is very useful in Edinburgh because finding houses is hard enough as it is. Accessing more housing market areas that other people don’t know about will give you an advantage and help you find more houses you love!
When looking for houses on standard estate agents, you usually have a lot of competition for the house you want to buy. Nothing is more annoying than finding a house that you love, but someone else takes it!
Buying off-market properties mean not many people know about the property- you won’t get involved in any unexpected bidding wars!
Some sellers will be in a rush to sell the house for various reasons. Usually, they will be willing to negotiate and accept a deal below the house’s market price.
If the seller is in no hurry to sell, usually, you can take a bit more time viewing the house and getting to know the seller. You don’t have to decide to buy very quickly to bid before other buyers- you can take your time when deciding if the house is right for you.
When sellers are contacting multiple buyers, the buying and bidding process usually takes a long time. Sellers want to wait for the highest possible bid to get the most money for the sale. This is not the case with an off-market property, as the seller can dedicate all their time to you and get the deal done as quickly as possible.
Houses are not listed publicly. Suppose you’re not comfortable with people knowing your moving house or looking for new accommodation. In that case, you’re covered because no one will know you’ve moved into a new house until you’ve announced it.
In recent years, Birmingham’s luxury housing markets have been booming. With new builds and recent developments, there are more areas with prestigious and high-value houses.
With these kinds of houses, it is much easier to find off-market sales. For investors or people just looking for a new home, it is good to inquire about specific areas to see if any new opportunities have arisen.
One of the best ways to do this is to be in contact with estate agents. Estate agents will know if houses are about to be put on the market or if houses have been valued recently. With these positions, it’s best to get in early and contact the homeowner to see if they are willing to negotiate an off-market deal.
Many historical houses need a little bit of TLC in Birmingham for those looking to test their skills as property developers. Houses in need of conversion or renovation have a higher chance of allowing an off-market deal.
These properties are good opportunities for investors and average buyers alike. For investors, they have an opportunity from buying the property relatively cheap, renovating then selling or renting it- this can make quite a lot of profit.
For standard buyers, you can buy the house for relatively cheap and then design it in a way that’s perfect for you. This means you have your dream home for a relatively low price.