Buying A Recession Proof Home

Find & Question Estate Agents
Weighing Up The Finances

So, you are buying for the first time and you're a little nervous about what to buy in the current market? Read our guide to finding a property in your area that should HOPEFULLY hold its value and protect you during a downturn.

By Kate Faulkner

When we hear the media talk about what's happening to the 'property market', they usually mean what's happening in buying and selling and only talk about 'average property prices' going up or down. However, every area around the UK, every property type and every property size (one bed, two bed, and so on) has its own property market statistics. Because of these micro markets, if you want to buy a safe bet property, you have to do a little research first.

Top Tip 1: Find Good Estate Agents!

Every area has at least one particularly good estate agent. Speak to friends and neighbours with more experience in buying and selling in your area to find out who they are. Or, have a look at the 'for sale' and 'sold' boards around your area. Which estate agents have lots of 'sold' boards? There will probably be three to five and these are the ones to go and chat to about what to buy as they know what is actually selling.

Top Tip 2: What Is In Short Supply?

Ask the agents which properties are in short supply. How does demand for a two bed new build flat compare to a Victorian one? Do two bed flats sell better than one bed flats? What property do they always find easy to sell? Is it a three bed semi in the suburbs compared to a two bed terrace near the town centre? Although you're buying now, rather than thinking of selling, it's good to know which properties continually perform well in your area so that when you do come to sell, you'll find the process smoother and potentially more profitable.