Words from Jonnie

WORLD

TV presenter and property expert Jonnie Irwin gives his thoughts and views on first time buyers and the housing market

I remember watching Tom and Jerry as a child and simply loving it. I remember my parents were more than happy to leave me and my sisters to view it, no doubt thinking it was just a harmless kiddies’ cartoon (these were the days when you’d be left in the car in the pub car park with a packet of crisps and a Panda Pop for seemingly hours on end). I’m probably showing my age, but for those of you too young to remember the cartoon, it involved a cat chasing a mouse in varying situations and perennially coming off worst – normally in a quite physically brutal manner. As you can imagine, modern parenting began to take a dim view after decades of this being broadcast and eventually it was pulled from the kids’ TV schedule.

I remember being appalled when learning this, as in my opinion it was hardly Itchy & Scratchy from The Simpsons, but on more careful consideration, I came to the conclusion that it was probably the right call. However, having been starved of this cartoon, I’ve no idea where any of my sons have learnt that bashing people over the head with blunt instruments is amusing, but they seem enthusiastically determined in the continuation of their pursuit.

But the game of “cat ‘n’ mouse” predates the old cartoons and certainly lives on in our lexicon, perhaps never more so than in the housebuying sector. In the current market, the sellers and their agents are the mice and we, the buyers, are the clumsy cats often coming off worst in our quest to get that elusive home – well that’s how certainly how it’s felt over the last 18 months of my house hunting.

It seemed that each property I showed interest in was equally attractive to bus-loads of other buyers, all in strong positions to purchase quickly with nothing to sell. The trouble is that us Brits are slightly obsessed not only with property but also getting it at “the right price” and as experienced as I am in this field, I still fall into the trap of trying to get a deal – sure, I’ve written about paying a fair price, but your own recommendations sometimes fall on your own deaf ears. That is until recently. Finally, I’ve taken some of my own advice and when the right house came along I bid the very maximum I could afford. I didn’t try to nick it, and as I was aware there had been 30 viewers in a week I also decided not to attempt to second-guess what someone else might offer. The market had gone crazy and I’d be just as mad trying to predict offer levels from people I hadn’t even met.

Now this isn’t my normal way of doing things, but these are strange times and I had more at stake than just getting a good deal – I wanted a home for my family and that was the priority. My offer I’m glad to say was accepted. I’m also pained to inform you it was nearly 13% above the asking price! I’ve never paid more than the list price for any property, but that is irrelevant now. Last week I went down to the pub with some of my new neighbours, one of whom is friends with the previous owners, who confided that I wasn’t even the highest bidder. This brought about a little relief that I hadn’t gone completely mad but also highlights that it is not always about the level you offer when approaching a purchase. People often sell to people they like, buyers that can perform quicker or who they think might fit in best in the area. I stated in my offer that I could move as quickly or slowly as the vendor wished; this flexibility can be very attractive to sellers in occupation. I also mentioned that we were a family and that might have been what really helped us. The sellers were also a young family and wanted us to fit into the community. An emotional decision that might surprise some people but it can be a big factor for many – for which I’m grateful, and there is certainly a lesson or two in that tale.

That relief has slowly faded and it’s now replaced by a growing sense of trepidation of the task ahead. There’s nothing that needs to be done as such, but certainly plenty I’d like to change and improve. My aspirations will have to be tempered for now, as a lot of the overall budget has been dented by how much I paid for the house. That’s compromise I guess – yet more of my own medicine that I’ll have to take.