savingsspot.co.uk Rightmove is the UK’s undisputed king of property portals. Whether you’re a first-time buyer, a seasoned investor, or simply looking for your next rental, chances are you’ve spent hours scrolling through its listings. But beyond the glossy photos and detailed descriptions, are there ways to leverage Rightmove to find genuine property bargains and discounts? While Rightmove itself doesn’t offer direct discount codes or voucher schemes in the traditional sense, there are savvy strategies you can employ to uncover hidden value and potentially save significant money on your next property purchase or rental.
Understanding the Rightmove Landscape
Before diving into specific tactics, it’s crucial to understand how Rightmove operates. It’s essentially a platform for estate agents to advertise their properties. The prices listed are set by the sellers, usually in consultation with their estate agent. This means the “discount” you’re looking for isn’t a pre-set reduction, but rather an opportunity to negotiate a price below the asking price or identify properties that are inherently undervalued.
Identifying Motivated Sellers
The key to finding a bargain on Rightmove is to identify motivated sellers. These are individuals who, for various reasons, are eager to sell their property quickly and may be more willing to accept a lower offer. Here’s how to spot them:
- Reduced Properties: Rightmove has a specific filter for “Reduced” properties. This indicates that the asking price has been lowered since the property was first listed. This is a strong indicator of a motivated seller. The longer a property has been on the market, and the more price reductions it has had, the more likely the seller is to negotiate.
- “Chain Free” Properties: A “chain-free” property means the seller isn’t reliant on selling their current home to buy another. This simplifies the transaction and makes them more attractive to buyers, often leading to a quicker sale, potentially at a lower price.
- Properties Listed for a Long Time: Use the “Time on Market” filter. Properties that have been lingering on Rightmove for several months (or even years) suggest the seller may be getting desperate.
- “Repossession” or “Auction” Properties: These listings often represent opportunities for significant savings, as the seller (usually a bank or building society) is primarily concerned with recouping their losses. However, these properties often require significant renovation and come with inherent risks, so proceed with caution.
- “Probate Sales”: Properties being sold as part of a deceased person’s estate (probate sales) can sometimes offer good value, as the executors may be keen to finalize the estate administration.
Doing Your Research: Beyond the Listing
Once you’ve identified potential properties, don’t rely solely on the Rightmove listing. Thorough research is crucial:
- Check Sold Prices: Rightmove provides data on previously sold properties in the same area. This gives you a realistic idea of market value and helps you determine if a property is overpriced.
- Investigate the Local Area: Research local schools, transport links, amenities, and any planned developments. This information strengthens your negotiating position.
- Look for Hidden Issues: Pay close attention to the photos and floorplan. Are there any signs of disrepair or potential problems? Use Google Street View to get a better sense of the property’s surroundings.
- Read the Description Carefully: Look for phrases like “needs modernization,” “quick sale required,” or “offers invited.” These can be subtle hints of a motivated seller.
Negotiating the Price: Making Your Offer
Armed with your research, you’re in a strong position to negotiate. Don’t be afraid to make an offer below the asking price, especially if the property has been on the market for a while or needs work. Be polite but firm, and be prepared to walk away if the seller isn’t willing to meet your price. Consider using a buying agent, who can negotiate on your behalf and potentially secure a better deal.
Additional Tips for Finding Value
- Set Up Property Alerts: Rightmove allows you to set up email alerts for new listings that match your criteria. This ensures you’re among the first to know about new properties, potentially giving you an edge over other buyers.
- Consider Different Property Types: Don’t limit yourself to one type of property. Explore flats, houses, bungalows, and even land. You might find a hidden gem that others have overlooked.
- Look Beyond Prime Locations: While popular areas command higher prices, consider up-and-coming neighbourhoods or areas undergoing regeneration. These often offer better value for money.
- Be Prepared to Compromise: You might not find your dream home at a rock-bottom price. Be willing to compromise on certain features or location to secure a better deal.
Finding Value in Rentals on Rightmove
While finding discounts on rental properties is less common than with sales, there are still opportunities to save. Look for properties that have been listed for a while, as landlords may be willing to negotiate the rent to avoid a void period. Consider offering to sign a longer lease in exchange for a slightly lower monthly rent. Also, be aware of any “fees” charged by letting agents, and question anything that seems excessive.
Conclusion: Rightmove as a Tool for Smart Buyers
Rightmove is an invaluable resource for anyone looking to buy or rent property in the UK. While it doesn’t offer traditional discounts, it provides the tools and information you need to identify undervalued properties and negotiate a favourable price. By understanding the platform, doing your research, and employing smart negotiation tactics, you can significantly increase your chances of finding a property bargain.
