The warmer months traditionally bring a flood of new home buyers to sought-after seaside towns, many seeking a holiday home that they can lease out when not in use.
“Summer always brings a flood of new buyers to coastal regions,” said Adam Leys, director at Stockdale & Leggo Inverloch.
Both he and Jaime Morris, director at Stockdale & Leggo San Remo and Phillip Island, predicted that this summer will see a “bumper sales season” in Victoria’s holiday hotspots.
“We had an influx of property come onto the market in spring and stock levels seem to have eased now coming into summer, so demand has picked up,” Ms Morris revealed.
For vendors, she stated: “It’s a great time to sell due to the influx of tourists and holiday-makers inspired to purchase a holiday home.” But for those seeking to buy, navigating this tight property market may not be so easy.
Here are three top tips for buyers looking to snag a good deal in Victoria’s beachside honeypots.
1. Time it right
Looking to buy, but haven’t got finance sorted? According to Mr Leys, buyers should wait until all loose threads are tied up before making an offer on a property.
“Get yourself prepared to make a very simple offer,” the Inverloch agent advised. “For example, if you need finance, get a pre-approval or ideally get yourself into a position to make an unconditional offer for the right property.”
He noted: “There are some good buys out there if you are in a position to make an unconditional offer to vendors.”
In a highly competitive market, the absence of contingencies can also help aspiring buyers get ahead of the pack.
2. Look off-market
When it comes to finding a property goldmine, not all good buys are on the open market.