5 New Year’s Resolutions for 2025 homebuyers

Did you know we have been making New Year’s resolutions for more than 4,000 years? The custom is thought to stem from the ancient Babylonians, who used their New Year in mid-March to reaffirm loyalty to the monarch, make promises to be good moving forward, pay debts to gods and return borrowed objects.  

The Romans were the first to make resolutions on 1st January and the tradition prevails. Today, the most common pledges include improving fitness levels, losing weight and eating a better diet.  

Another popular resolution revolves around property. A new year heralds a fresh start and for some, that means a new home. If a bigger property, a cottage by the sea or your first-ever flat is on the cards, why not make a set of more specific property buying resolutions?   

Here are 5 that will put you into the strongest purchasing position possible:

1. Book an appointment with a financial adviser: every property search should start with money: finding out how much you have and how much you’ll need. A financial adviser will discuss your deposit, your credit history, your income and your existing financial commitments to establish how much you could afford to borrow, ultimately securing a mortgage agreement in principle. 

2. Register with estate agents directly: will you rely exclusively on Rightmove to find your next home? What if we told you a high percentage of properties sold never make it online. Estate agents, including us, hold waiting lists of pre-vetted buyers who get first refusal on properties. When you register directly, we’ll let you know about new instructions before anyone else. It’s a luxury you won’t find on the portals.

3. Gather essential documents together: speak to any conveyancing solicitor and they’ll tell you a lack of documentation can hinder the purchase of a property. One of the best resolutions you can make is to lay your hands on everything you’ll need before you speak with a financial adviser, a solicitor or an estate agent. Ensure you have photographic ID, proof of address, proof of deposit, a copy of your mortgage agreement in principle, three months’ worth of bank statements where your wages are paid in, three years’ of SA302 tax calculations if you’re self-employed and a gifted deposit letter if family have contributed.

4. Narrow down your search criteria: buyers should work out what they really want, where it should be and how much they’re prepared to pay for it before they start looking for a property. Of course, a guiding factor will be the value of the mortgage they’re able to secure but identifying the non-negotiables upfront will help focus the property search. Factors to consider include location, number of bedrooms, parking, local amenities, transport links, school options, potential to extend and style/condition of property.

5. Accept an offer on your current property: if you are an existing homeowner and need to sell where you live in order to buy your onward property, there is one key detail that shouldn’t be overlooked: your own sale. You’ll be in the strongest position to purchase if your home is under offer when you start your property search. Sellers won’t want to wait for a property below them in the chain to sell for the transaction to proceed, so the speed at which the buyer can move will usually be taken into account. If it comes down to two offers – one made by a buyer whose home is under offer and one by a buyer with a property still to sell - a seller will usually plump for the buyer who has their home sold.

If your New Year’s resolution is to purchase a property, get in touch. We can send you all our available properties that match your criteria, and alert you to new instructions that may be of interest.