Affordability Matters for Buyers and Sellers

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Hello, and welcome back to Moving Home, Uncovered.

Today, I want to talk about something that’s absolutely critical for everyone involved in a property transaction, whether you’re buying or selling: affordability.

Knowing your numbers isn’t just a nice-to-have. It’s the foundation of a smooth, stress-free move.

Let’s start with buyers.

One of the biggest mistakes I see first-time buyers make is starting the journey by going out to view homes before they really know what they can afford. Think about it, no one goes shopping with an empty wallet.

Buying a property is probably the largest purchase most of us will ever make, so it’s essential to understand your finances first. Viewing properties without this knowledge wastes your time, and the seller’s too.

The best place to start is with a mortgage broker. Spend time working out your affordability, explore the types of mortgages available, and understand what the monthly costs will be. Buying a property is a major commitment, so it’s important to make sure it fits comfortably within your budget and that your income and expenditure support it.

Now, let’s talk about sellers. Affordability is just as important on your side of the fence. You want to know that the people viewing your property can actually afford it. Qualified buyers, those who can show an agreement in principle from a broker, are far more likely to move quickly and efficiently. This protects you from wasted time and reduces the risk of transactions falling through.

Many people focus on the property market thinking of it as an investment, but really, buying a home should be about having a safe, secure place to call your own. Renting is an option, of course, but when you rent, you’re paying someone else’s mortgage.

Buying a property gives you independence, you own the home, make your own decisions, and have stability. But that independence starts with knowing you can afford it.

Affordability also goes beyond the mortgage itself. You need to consider:

• The size of your deposit

• Stamp duty

• Moving costs

• Any renovations or immediate repairs

Understanding all of this upfront ensures that once you find the right property, you can move forward with confidence. And for sellers, ensuring that your potential buyers are financially prepared means fewer delays, less frustration, and a smoother transaction for everyone.

Over the years, I’ve seen too many situations where buyers start viewing properties, make offers, and even have their chosen home marked as sold, only to realise they can’t afford it.

That’s disappointing for everyone involved: the buyer, the seller, and the agents. These situations are easily avoidable with a clear understanding of affordability.

So, whether you’re buying, selling, or supporting someone else through a move, my advice is simple: start with the numbers. Speak to a mortgage broker, get your agreement in principle, understand the total costs, and make sure the finances work for you.

That’s the foundation for a successful home move.

Thanks for listening to this episode of Moving Home, Uncovered. If you found this useful, subscribe so you don’t miss future episodes, and head over to propertysearchesdirect.co.uk/podcast to send me your questions. I’ll cover them in future episodes to help make moving home a smoother, less stressful experience for everyone.