Want to sell by Christmas!

If you want to sell your home before Christmas, there is still time – just.

Whilst a new study from the website estateagent4me suggests that it takes an average of 64 days to sell your home, given recent market activity sales are progressing quickly. Here at Abode our proactive team can offer valuation appointments without delay and from instruction your property can be listed within a matter of days.  So here are our five top tips to sell your home by Christmas!   
 

1. Appoint a great estate agent. We are always here to help, also ask family friends and neighbours as it is always  good to have a personal recommendation. 

2. Instruct your solicitor. Instruct a conveyancing solicitor early and start pulling paperwork together now if you want to secure a quick sale. We can offer honest recommendations from the best local conveyancers with a proven track record.  We don’t recommend anyone we wouldn’t use ourselves.

3. Get your house ready for sale. If there are any issues that might come up in a survey and delay the move, consider fixing them now. And as the winter months approach, make sure your home doesn’t look too dark – it is vital to let in light with lamps, candles and mirrors.

4. Let your agent take the lead - let your estate agent take the lead at viewings and tackle any tricky questions. And let them advise on negotiations; going to best and final bids to secure the best price is a popular option in today’s sellers’ market.

5. Choose the right buyer - everyone wants to get the best price, but if you want to sell quickly as well then opt for a chain-free buyer who isn’t relying on selling their home to buy yours.

At ABODE we are happy to help you, providing a personalised service to each and every sale.  For more advice contact us on 01257 676 123 or 01695 632123.

The Stamp Duty Holiday – What’s Next?

After one of the busiest years for the housing market in more than a decade, the stamp duty holiday came to an end on 30^th September 2021. The stamp duty holiday was introduced by the Government with the aim of assisting homebuyers.  It was put in place in the hope that it would boost the housing market that had slumped during the Covid-19 pandemic. As of 1 October 2021, stamp duty has now returned to pre-holiday rates starting at £125,000.

Whilst the future impact of the stamp duty holiday remains to be seen there can be no doubt that the holiday had the impact intended. Demand within the housing marked increased significantly, whilst at the same time, supply was at an all-time low. This resulted in a large rise in house prices as people rushed to buy before the stamp duty deadline.

Now that the holiday has come to an end people are concerned that we may see a drop in property prices due to reduced demand.  However, in addition to the tax break introduced nearly eighteen months ago, there were other factors behind the housing market boom and so this may minimise the impact of the end to the stamp duty holiday and lead to a greater position of stability.

Factors include low mortgage rates; we are in a position currently with rates below 3% and whilst they may rise, they remain low in comparison to historical times. This is prompting more first-time buyers to step onto the property market.  There are also more accessible mortgages for first time buyers and the end of the break could even be good news as a lot of buyers have been priced out of transactions because of the holiday. For example, data from Rightmove shows that whilst 1.3 million buyers benefitted from the relief and in turn this has resulted in a £16,000 rise in the asking price of a home since July 2020 across the country and increases of £8,400 in London. In some cases, the increase in house prices may have eaten into or entirely consumed the tax saving intended.

 In other factors, people have increased equity in their property portfolio and therefore feel that they have more scope to move or are looking for more space prompted by the pandemic.  People also have more disposable income and access to greater savings from the living restrictions.  Hence, all these factors have led to competition for houses being double the rates pre-pandemic.   These trends could help to protect from a dramatic fall post stamp duty holiday. Whilst whatever will happen remains uncertain there are positive signs that there will be a return to pre-pandemic levels and stability in the property market ahead.

Selling a House That Needs Renovating? Here's how...

When your house needs renovating it can be daunting to put it onto the market fearing that people won’t want a home that needs further work. But often this is furthest from the truth. There are lots of people who want to buy a house as an investment peace or somebody who wants to make their house their own; and your house will provide them with the perfect opportunity to do so. If you need to put your house onto the market, knowing it needs renovating, here are five key tips for you to consider:

1) Be clear on who will be interested in buying your house. Working with your estate agent, target accordingly.  Property developers, buyers who are seeking an investment piece for their buy-to-let portfolio or buyers constrained by a budget will all be interested in taking on a house which needs renovation. Whether selling your house on the open market or via auction by marketing your house directly to your target market, you are likely to realise far greater returns and a quicker sale.  

2) Identify the best features of the property and focus on selling these. For example, the floor plan, garden area or perfect location – all of these would be of interest to buyers of an investment home.

3) Declutter both indoors and outdoors. This will make it easy for a potential buyer to see the investment opportunity and will motivate them to view and potentially buy.

4) Here at Abode, we can help you to identify any potential grants which may be applicable to an interested buyer for example, home or greener energy grants should the house require a new install of central heating or further insulation.

5) Finally, it is important to manage your own expectations around pricing. Regardless of its features a home which requires renovation needs to be priced realistically. Too high and it can put off a potential buyer. You need to bear in mind the extent of the renovation which is required. Hence, work with your estate agency to identify the right price for your target market considering factors like, work required, location and key features as these will all have an impact on the valuation.

In following these tips, you are likely to realise a sale that is right for you and make a buyer very happy in the process.

A truly independent and real estate agent, at Abode we will guide you through the process. Hence, if you have a property to sell which needs renovations speak to us. Not only will we give you an honest market appraisal, but we will keep you informed every step of the way and help you to achieve a sale in a timescale that is right for you. To speak to one of our friendly and professional team call us today on Tel: 01695 632123 / 01257 676123 or Whatsapp: 07368 572452.

Increase in Land Registry Fees from January 2022

From 31 January 2022, some of HM Land Registry’s land registration fees will increase for the first time since 2009.

The increase in charges for applications for first registration and for the registration of transfers, leases and mortgages, is the first since 2009, HMLR said;

‘It will allow the agency, which is funded by user charges via the Treasury, 'to move forward with plans to deliver what customers need', a statement this morning said. This includes 'more consistency and speed in service delivery by investing in both operational capacity and accelerating the digitalisation and automation of services'.

Whilst the Land Registry have tried to justify the increased costs, this fee is always paid by the purchaser of a property and so ultimately means more cost to the consumer. With already increased cost of living since the pandemic, this will mostly impact first time buyers who are likely going to have to save a little bit longer.

As always there is a push for electronic applications over postal applications, with the increase to electronic being around 11% and postal 21%. Here at Frodshams we submit all applications electronically, unless we are prevented by the Land Registry from doing so, to ensure all disbursements are kept as low as possible for our clients.

The full list of the increased fees can be found here.

Or if you are planning to purchase a property we will be happy to provide a full quote incorporating this fee. Please call us on 01744 626 600.