Guild Blog: Property Predictions for the Housing Market of 2018

Looking back over 2018, have the housing predictions from earlier in the year and before the Spring and Autumn Budgets come to fruition?

 

 

 

What will happen to the housing market in 2018?

There are lots of housing predictions, from big growths to slight falls in house prices, but overall, most experts predict a slight rise in prices of around 1%. Find out what the big forecasters, RICS, Nationwide and Rightmove, predict in our quick video. Small house price increases mean that it is a good time to move. You can get a good sale price for any current property you own, and there is not a huge rush to buy, so you can take your time to find your dream home.

 

If you would like to discuss the market value of your property with a Guild of Property Professionals’ Valuer, please contact us at our Ripon Office on 01765 694800 or our Thirsk Office on 01845 522680.

 

 

The Guild is a network of the best 800 independent estate agents around the country. Find out why you should choose them to sell your homeClick here to find your closest Guild Member.

 

 

Guild Blog: How to Avoid Over Home-Staging your Property

Are you thinking of selling your home?  Are you wondering whether to decorate or de-clutter your space?

 

Interior of a living room with shelves and sofa with pillows.

 

Have you ever seen a property that just seemed to be trying a bit too hard? Over home-staging, or trying too hard when decorating a property in order to sell it, is a surprisingly easy thing to do. Our agents share their stories of homes they’ve see that have been over home-staged, and what you can do to prevent this problem.

 

1. Be genuine 

According to Steve Barron of Drivers & Norris, trying too hard can be a major turn-off for potential buyers. Steve says, “we don’t come across many over-staged homes in our area, and we don’t advise our clients to do so either. Around here, home-baked bread, the smell of fresh coffee or bowls of fruit could appear a little corny.”

 

2. Don’t do too much

According to Matthew Higgins of Sawyer & Co., “an over-staged property is always easy to spot. There’s too much artwork on the walls, too many cushions and throws on the sofa, and the most major mistake: a dining table set for a banquet. Less is always more when it comes to staging a home.”

 

3. Don’t underestimate the power of flowers 

While overdoing it on the floral front can spell disaster home-staging-wise, a bunch of flowers helps to keep things homely. According to Dominique Scott of Sawyer & Co., “a subtle yet attractive vase of flowers in a few of the rooms is always a nice touch.”

 

4. Remember that you’re selling a lifestyle

Part of what you’re offering to a potential buyer is a lifestyle. One of the major problems with over home-staging a property is that “it makes it incredibly difficult for a potential buyer to see past the sellers’ belongings. Buyers aren’t just buying a home, they’re buying a lifestyle. Seeing a room set up like a banquet hall could be very off-putting for a potential buyer that doesn’t use a formal dining room. It can make it very hard to see the space in any other way,” adds Dominique.

 

5. Over home-staging can make buyers suspicious

Why are over home-staged properties so off-putting, and why can’t potential buyers look past them? Steve Barron of Drivers & Norris explains, “When anyone tries too hard to ‘sell’ something, it can be off-putting. Most of us don’t like feeling that we’re being pushed in a certain direction, and may start questioning the motive of the seller. Are they trying to draw the potential purchasers’ attention away from an unflattering view or a building defect? That said, if they like the property, they will more than likely still be interested in it.”

 

6. Avoid clutter

Box up anything you don’t need before the move. Nicole Cox of Wye County says, “I always tell the vendors that if they don’t need it, pack it up ready for the move, because less clutter means more space and more space equals more money! It’s a simple equation.”

 

7. Make sure rooms are well-lit

Customers won’t want to buy a house if they can’t see what it looks like. Steve adds that sellers can “emphasize a property’s best asserts by fully pulling back curtains and making sure rooms are generally well-lit, either with natural light or artificial light. If the house is lit by artificial light, make sure that the lights are already on before a prospective buyer arrives.”

 

8. A few extras go a long way 

Hang window treatments to showcase high ceilings and hide low ones, and use fresh towels in the bathrooms and nice white linens on the beds. All of these things can be taken with the seller after they’ve sold their home, and they offer a blank canvas for a potential buyer. Don’t hesitate to hire an interior designer if you’re really stumped. They can help steer you in the right direction, decorating-wise.

9. Think understated 

Highlight the lightness and cleanliness of your home before you do anything else. Nicole says that “houses that are clean, tidy and welcoming, with tasteful and understated décor and furnishings will always sell for a premium. There’s no need to make it any more complicated.”

 

10. Depersonalise

Interior design is a matter of taste, and your particular taste may not appeal to everyone. Take your personal taste out of any home that you’re staging, and think of choosing neutral tones that will open up spaces.

 

Are you considering selling your home? Contact your local Guild agent today to see how they can help you sell your property.

 

 

Guild Blog: The Top Ten Mistakes you may be making when buying a house.

Buying a new home is one of the most exciting things you can do.

Between looking through beautiful new houses and choosing the perfect area, it’s easy to get caught up in the thrill of new-home ownership. However, ignoring the details could end up costing you. Our estate agents have seen it all, and have identified the top mistakes that people make when purchasing a new home.

 

 

1. Looking at property without setting a budget 

“Taking a hard look at your finances is critical before you begin to look at property”, says Guild of Property Professionals CEO Iain McKenzie. “I can’t tell you how many people I’ve seen fall in love with a property to realise that it’s out of their price range.” After you look at your finances, consider seeking professional advice, especially when it comes to mortgages.

According to Steve Thompson of Thomas Morris St Neot’s, “buyers should fully consider their property requirements and get the advice they need to organise their finances and solicitors before they find a property so that they do not miss out.” Do your research before viewing properties, and get a good idea of what you can afford to avoid heartbreak later.

 

2. Understand their reasons for moving 

Buying a property is a huge emotional and financial decision, and certainly not one to take lightly. According to Siobhan Jordain of Boyce Brixham, it’s important to make sure that you’re running toward something better, rather than away from something unsuitable. Siobhan encourages serious thought before moving into a different area, saying that “a bit of self-reflection on what you think moving from one area to another will give you can save time and money – perhaps you just need a lifestyle change rather than a location change.”

 

3. Buying too quickly

If your property purchase is the direct result of a relocation, Steve Barron of Drivers & Norris cautions against buying immediately. Steve encourages potential buyers to “rent first, and then figure out what you like. Then you know you’ll be buying in the best area for you, rather than simply having to make an educated guess.”

4. Having too many non-negotiables

When you view a property, it’s a good idea to know what you’re willing to be flexible on and where you’re not willing to negotiate. Stick to your convictions, but keep your list small. According to Steve Barron, “it’s best to prioritise what you want, as you’ll never get everything on your wishlist.” Mark Noble of Castle Estate Agents echoes this sentiment, saying “one of the biggest mistakes I see is buyers being too fussy about a property when a few simple alterations could make it perfect.”

5. Being closed off to alternative suggestions 

“One in three people end up buying something completely different than what they thought they wanted,” says McKenzie, “so be sure to broaden your horizons while you’re looking.” The perfect property for you might not be what you think you want, so being open to alternative suggestions is critical when buying a home.

6. Not using an estate agent in addition to looking online

Steve Thompson cautions: “heavy reliance on the internet to find your home is a mistake. Although it is a fantastic source of information, simple to use and available round-the-clock, the internet will never be able to replicate the local knowledge and expertise of your local estate agent. Build a good relationship with your estate agent, and they will tell you about properties that fit your specifications before they hit the market, search for properties that might now have hit the market just yet, and think of all kinds of out-of-the-box solutions to help you find the perfect home.”

7. Waiting too long to make an offer

Celeste Hamilton-Parker, Mark Noble, and Iain McKenzie all agree that waiting too long to make an offer on a house is one of the easiest ways for someone else to buy the house of your dreams. If you have a good feeling about a house and it ticks off your list of non-negotiables, then making an offer is the sensible choice.

8. Negotiating poorly

Negotiating is an important part of the property buying process, and negotiating poorly (or not at all) is one of the most common mistakes estate agents see in buyers. According to Mark Noble, “offering a price that’s too low and then taking too long to make a more acceptable offer is the reason I see many people lose homes they really love.” Iain McKenzie has been in a similar situation. “I’ve have buyers offer the asking price on houses where the seller would have negotiated. Negotiating will almost always result in a better price, especially if you maintain an air of ambivalence at a viewing. Never gush when you view a house, as gushing will make the seller think you’re willing to pay more for the property.”

9. Appointing the wrong property professionals

“Choosing the wrong solicitor or mortgage broker can be a huge mistake for buyers” says Mark Noble. Celeste Hamilton-Parker of Hamilton Parkers agrees, arguing that “a solicitor that’s either online or unfamiliar with the area can delay the conveyancing process, and the whole process in general.” When you buy a property, be sure to choose mortgage brokers that are reputable and local to your area. Local professionals will have a much better idea of how the market in your area works than non-local brokers or solicitors.

10. Not thinking ahead

“While it’s tempting to prioritise what you need now over what you’ll need in the future, but choosing a home is a relatively permanent decision,” warns Steve Barron. “Be sure you prioritise what you’ll need in the future, as well as what you’d like now.” Siobhan Jourdain agrees, adding that you should “consider a situation where you should have to return to your original home area, and make sure that you can afford to buy back in – this is particularly important if you are downsizing and using equity as pension funding or buying in a cheaper area.”

 

Are you thinking of moving? Click here to contact your local Guild agent.

Guild Blog: How to Save a Deposit for your First Home

HOW TO SAVE A DEPOSIT FOR YOUR FIRST HOME

 

The bottom line of raising a deposit is that you need to save money! Here are some top tips to help start you on your campaign to turn your pennies into pounds:

 

  • With a realistic monthly saving plan, you can rest assured you have started the wheels in motion – there is a lot to be said for initiating the ‘saving’! A deposit can seem like a daunting figure, so taking it month by month will take some of the pressure off. Even if you aren’t sure how much you will ultimately need, you can always begin saving.

 

  • There are plenty of free online budget templates you can download which will help you to assess your finances. As well as fixed monthly costs, such as bills, you would be surprised how much you spend on seemingly small items. Start this process by reviewing your previous months spend to avoid forgetting or being too optimistic.

 

  • Avoid overestimating the amount you can set aside each month. Settle on a minimum figure and, if you have an extra good month, you can always transfer some extra pounds into your savings account. Trying to save too much is likely to put you off and leave you feeling disappointed.

 

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  • Before you choose an account, do some research as interest rates can vary. Since saving for a deposit is a long-term goal, it may be that an account which gives you better interest rates, but does not allow you instant access is more appropriate. Take your time working this out as it’s important to make your money work hard for you! Remember that a savings account is not for life: periodically assess whether moving your savings could be more beneficial.

 

  • Take the chore of transferring out of your life and transfer the money automatically with a standing order or direct debit. This stop you from thinking, hesitating or reallocating those funds.

 

  • Your family and friends will understand your goal – so ask them for support. Find cheaper midweek deals to meet with friends and swap dinners out for a nice meal in.

 

Saving can be a struggle; often, the first few months are your best as you are focused and dedicated. Since this is a long-term plan, you may need to find ways to reinvigorate your savings at varying points, but also remember there are times to give yourself a break as long as you continue to save your minimum amount.

If you would like FEE FREE Mortgage Advice

please click here for advice from London and Country Mortgages

 

Guild Blog: Top Tips to Buy Land and Build Your Dream Home

Top Tips to Buy Land and Build Your Dream Home from The Guild of Property Professionals

GPEA – 26th September 2017

 

Are you dreaming of building your own home? Buying land and building a property on it is a dream many people share. But what about the logistics? Buying land and building your own house is uncharted territory for most people.

David Davies of David Davies Estate Agents has seen this process happen time and time again. With almost thirty years of estate agency experience, David has seen many people build their dream homes on land that they’ve bought for that purpose. He’s seen where things can go wrong, and all of the ways that a buyer can prevent these things from happening. Read on for David’s do’s and don’ts for building your own property.

Q: So you want to buy land to build a home. What should you be looking for in the land? Are there any red flags to watch out for? 

A: Firstly, when looking to buy land to build your dream home, carefully consider the land’s location, size, and surroundings. This includes whether the property would be an appropriate size or style that will fit with the neighbours, which will become an important factor when you apply for planning approval.

Q: Is it feasible to demolish an existing property on land that you’ve purchased?

A: Always do a land registry search. It’s a small cost to pay, but can tell you a lot about the land you’re considering. The search will be able to tell if the property is registered. If it was built before 1982, it may not be registered, and unregistered land can take time to get papers in order, especially if you’re relying on old deeds, when it may be very difficult to prove title.

If you’re demolishing a property, you will certainly need an asbestos survey. You can’t just knock a property with asbestos down, and removing asbestos can be a costly job. You’ll also need a bat survey, which usually entails an initial survey and often a ‘dawn and dusk emergence survey’. Before building, you’ll need a geotechnical survey, as without this unexpected building costs can arise, which can add thousands of pounds to your build cost.

Q: You’ve bought the land, and now want to go ahead with the build. What kind of permissions do you need, and how will this affect the time frame of building your house?

A: Step back a little. Before exchanging contracts, it’s essential to put a preliminary enquiry into the planning department. This is called a pre-application. You will need to get an opinion from the local planning department, to see if they will grant full approval to build. You can prepare and submit this yourself, as long as you can sketch a rough idea of your design. The cost of doing this is currently £140, so it’s not a large risk, but if you buy first and don’t get approval, it could be a costly mistake.

Q: What happens after you’ve applied for permission? 

A: Subject to the above, you now own the land. You then need to employ an architect or an architectural designer to save money. They will discuss your design requirements, and be warned, architects can charge up to 10% of the property’s build cost, though designers will cost less. Visit the RIBA website to find a list of local firms.

Q: What else should I be aware of? 

A: Definitely think about utilities (gas, electricity, main drains, etc.). All these things will add to your total costings. A tip here is to get your solicitor to do a ‘multi search’, which doesn’t provide all the locations of various utilities, but will help you through the process of dealing with the public companies.

Q: What about trees?

A: Check and see if there are any trees preventing your build, and if so, if there are any tree protection orders. Speak to the councils’ tree specialist; they are free, knowledgeable and usually very helpful. You may need to employ a professional tree surgeon, especially if the land is heavily planted. Try to find land that’s not too overgrown.

On another note, make sure that there’s no Japanese knot weed on the land. I’ve seen clients struggle terribly with eradicating it, and it would put me off the land completely unless the seller has it removed by a specialist, who can provide an insurance-backed guarantee that it has been successfully eradicated.

Contact your local Guild Member to find out about land for sale in your area. They will be able to guide you through the buying process, too.

If you are interested in building your dream home please contact Joplings and ask to speak to Richard or Michael on 01845 521 317.