The latest news from Andrew Craig




Housing supply starts to improve

 
This month, property search portal OnTheMarket published its Property Sentiment Index, offering insights into how things might be changing. According to the report, the number of sale listings is rising, slightly dampening the issue of supply.
 
In addition, strong market growth over the past two years means that 82% of buyers still believe they can achieve a completion within three months. Along with the promise of moving in time for summer, this confidence is further driving homeowners to list their properties for sale. *
 
However, due to an inherent lack of housing stock nationwide, prices are unlikely to drop dramatically any time soon. Instead, buyers should look for the coming window of opportunity as the market settles to an ‘elevated version of the pre-pandemic market’.*
 
Looking to buy? Browse our available properties here.
 
*OnTheMarket



Get financially fit before your first property purchase

By clarifying your financial position before buying a home, you can improve your chances of securing a mortgage while granting yourself a little peace of mind. Here are three tips to get you started:
 
1) Determine a workable budget
 
Identifying how your income compares to your spending will allow you to estimate the size of the mortgage you can realistically afford. Start by creating a simple spreadsheet listing fixed costs such as rent, repayments, subscriptions and council tax, and averages for other bills. Don’t forget yearly expenses like annually renewing memberships, holidays, and general house and vehicle maintenance.
 
Once you can see how your monthly outgoings match up to your income, you’ll know what you can afford to pay towards a mortgage. You can also use an online mortgage calculator or talk to a mortgage advisor to identify ways to give yourself more wiggle room.
 
2) Create a savings target
 
Now that you have your budget in hand, it’s time to set a realistic savings goal for a deposit or to give yourself a buffer to cope with the cost of moving. Use your spreadsheet to find ways you can reduce expenditure. Possible solutions include swapping energy suppliers, cutting out luxuries and unnecessary subscriptions, or postponing holidays.
 
There are some less painful ways to save, too. For example, government-backed Lifetime ISAs offer first-time buyers the chance to top up their savings by 25% each year, up to £1,000. Alternatively, many banks allow you to round up all your purchases to the nearest pound and transfer the difference into a savings account.
 
3) Deal with bad credit
 
Before applying for a mortgage, check your credit rating with a reputable agency like Experian or Equifax. If you spot any errors, get them fixed as soon as possible. Lenders will use your credit rating to determine if and how much you can borrow, so correcting mistakes is a crucial step toward financial fitness.
 
Our friendly team can help you find the perfect home within your budget. Just contact us to chat about your requirements.



Make your summer house move stress-free with children

 

Even if you've discovered your dream home in the ideal location, the process may be stressful, especially if you're relocating with children. 

Whether it's for a new career opportunity, to be closer to family, or to make a necessary lifestyle adjustment, uprooting your life may make sense to you. Your children, on the other hand, may not be as understanding, as everything they know and are used to is about to change. You can use a few tricks to make the transition go as smoothly as possible. 

 

As soon as possible, inform your children 

 

According to some parenting experts, you should tell your children as soon as possible. It may be difficult to remain a secret for long, as you will almost certainly have possible buyers coming in and out of your home, and your children will notice something is different. You don't want to keep anything from them because it will just add to your stress level, so inform them as soon as possible to make them feel included. Include them and make it more exciting by allowing them to help choose the new house and plan what they want to take with them if they're up for it.

  

Allow them to be emotional 

 

It may be difficult to watch, but when your children scream or throw tantrums, remember that this is a normal reaction and that you should allow them to be upset. Their entire lives are changing, and the relocation may be separating them from friends, cherished family members such as grandparents, or a childminder they've known since childhood. Instead of becoming furious, try to understand why they aren't accepting the changes immediately. Each child is unique and adjusts to change at their own rate, but it often takes six months for children to adjust to their new life in a new place. 

 

Talk about what will remain the same 

 

The stress of so much change might be difficult for your children. Rather than focusing on what will be changing, remind them of what will remain the same. Their bedrooms may differ, but their possessions will be identical. Even if their schools are different, all of their after-school activities will remain the same. It may be difficult for them to focus on the similarities, so try your best to remind them as much as possible. 

 

Stick to old routines 

 

Just because you've moved to a new location doesn't mean you should abandon your old habits. Remember that you need to keep certain pieces of your previous life constant for your children to adjust, and keeping at-home routines running is a terrific way to do so. If kids have certain after-school rituals, try to stick to them as closely as possible, even if some things change. 

 

Prepare everyone 

 

Don't be caught off guard when it comes to moving day! Starting the moving process as soon as possible will help you avoid a last-minute rush to pack and clean. It's a good idea to prepare an overnight bag for everyone for both the last night in your old home and the first night in your new one, so you don't have to unpack right away after a long day. 

 

Allow your children to express themselves 

 

Allowing your children to participate in the entire moving and packing process will provide them with a sense of stability and control over the changes in their surroundings. Ask about their thoughts on topics such as what to pack and how to decorate their new rooms! 

 

Contact our friendly team for useful guidance on all areas of moving home, and we will be happy to assist. 



Ten steps to finding your perfect home

If you are searching for a home, you will want to follow these steps to help you along the way.
 
1. Set a sensible budget
 
To help set a sensible budget, it can help to involve a specialist mortgage advisor at this early stage. Decide on a monthly mortgage repayment which is affordable for you, allowing for this to increase in line with interest rates. Then consider how much you can afford to put down as a deposit. With these figures in mind, work out how much you would like to borrow and establish a price range for your property search.
 
2. Get your paperwork in order
 
One of the most common mistakes buyers make is not getting a mortgage agreement in principle. If you are looking to purchase a new house with a mortgage, this can be a useful step in your search.
 
3. Decide on your deal-breakers
 
With your budget in mind, decide on your deal-breakers. Determine what you need from your home – location, number of bedrooms, outside space and parking. Then make a list of things you would like, but are not essential. Decide what you are willing to compromise on and what you are not.
 
4. List your existing home
 
If you need to sell your existing home, it can be a good idea to list it on the market before you start the search for a new one. This will make you more appealing to prospective sellers and could avoid some of the delays associated with being in a chain.
 
5. Start the search
 
In addition to using the popular property portals, register your interest with your local estate agent. Give as much information to your agent about your budget, timeframe for moving, requirement to sell before buying and your dealbreakers.
 
6. Think ahead
 
Think about what might be important to you in the coming years. If you plan to start a family, for example, consider the availability of local nurseries. Look for good local schools and place yourself well within their catchment areas. If you are approaching retirement, it may be worth considering single-storey living, as well as looking at the proximity of local transport and facilities like shops and GP surgeries.
 
7. Maximise each viewing
 
When you look at a prospective new home, look carefully and thoroughly. Imagine yourself living in the home, visualise how you would use each room and whether the layout of the house would work for you. Keep an open mind and think about a property’s potential, looking beyond the current décor and the seller’s furniture.
 
8. Consider the surroundings
 
It may be a cliché but, when it comes to buying, think ‘location, location, location’. Will you feel comfortable in the area, and does it have everything you need?
 
9. Choose head over heart
 
Buying a house can be a really emotional process for many of us. Avoid being swept away by a property you fall in love with, but which is outside your budget or falls short of your dealbreaker list.
 
10. Take your time, but not too much time!
 
Making rash decisions and rushing are things to avoid when buying a new home. Equally, leaving it too long to take action may mean you miss out.
 
If you are looking for your perfect home, check out our latest listings.



Three improvements buyers are looking for in a property

 

When it comes to selling your home, there is nothing you want more than for your buyers to love your home as much as you always have. Preparing your home can feel like a time-consuming and potentially daunting task. However, this is the very start of your property journey, and before you know it, you could be well on your way to your next home.

 

Recent research into what buyers are specifically looking for may give you an insight into how you can best prepare your home.

 

Leisure spaces are a big requirement

The report found that a home gym was one of the most asked for renovation trends, and with the arrival of summer, it is no surprise that buyers are also keen to find properties with outdoor kitchens and al fresco entertaining areas.

 

Going green with paint

That phrase may have you thinking about eco-friendly improvements. But, we’re talking about paint! Although it is often said that neutral walls are the best way forward, research suggests that adding a pop of colour by repainting the kitchen, or adding a green feature wall, could give your room a whole new lease of life.

 

Flooring is more important than you think

This one may not be the first thing you think of when improving your property. However, it seems that there are a range of styling options that are ticking buyers’ boxes. Interestingly, solid wood, herringbone flooring, or earthy flagstones are all popular choices for buyers.

 

Whether your home ticks all the above boxes and you are considering selling. Or, if you are simply curious to know how much your home could be worth, why not book your valuation with one of our professionals today?

 

 



More first-time buyers are investing in buy-to-let properties

 
Figures from an independent finance broker have revealed a 5% increase in the number of first-time buyers applying to purchase a property on a buy-to-let basis, rather than as a home to live in.
 
The shortage of properties on the market means the types of homes many people are looking for are simply not available to buy at the moment. By getting a foot on the ladder with a buy-to-let opportunity, lots of first-time buyers are choosing to invest in property, without the need for a house to be their home.
 
It has been estimated that 275,600 buy-to-let mortgages were approved in the 12 months prior to February 2022, which is the highest it has been since 2016.
 
If you are considering a buy-to-let opportunity as your first step onto the property ladder, get in touch for advice from our expert team.
 
 
*Property Reporter
 



What makes the perfect tenant? 

Having a positive relationship with your landlord is important when renting a property. But what are the best qualities to have as a tenant.
 
One of the most important things to consider is your payment. Rent should be paid on time every month, and you should pay in full whenever the rent is due.
 
If there comes a point when you can’t pay, you should stay in touch with your landlord so it can be resolved.
 
Three more tips to help you become the perfect tenant:
 
Check your credit score
Ensure you are financially responsible by getting a credit check. If you are responsible when paying bills, the chances are, a landlord will trust you to pay your rent on time too!
 
Get a reference
A reference check gives your landlord a good idea about whether you will be a suitable tenant.
This will provide key information on your employment history and ability to pay rent, as well as any previous dealings you have had with other landlords.
 
Meet potential landlords
It’s important you have a good relationship with your landlord, so meeting them is essential. Furthermore, it’s a great opportunity to ask any important questions face-to-face.
 
Take a look at our available rental properties and find your next place to call home.



Is renting long-term becoming more popular?

 
Recent research suggests good news for private landlords. When compared globally, the UK now has the 10th biggest share of rental properties versus private home ownership.
 
Figures from a specialist rental platform show that over the last ten years, the number of rental properties across the UK has increased by 1.1 million and now represents a third of housing stock. Out of an estimated total of nearly 30 million dwellings in the UK, over 10 million of those are rented.
 
Industry experts are suggesting there is a generational shift in mindset towards renting. Of course, high property prices and shortages of housing stock are preventing large numbers of tenants from moving out of the rental market. However, there are large numbers of tenants for whom renting is a choice, with many preferring the freedom and convenience it offers.
 
With a strong, ‘build-to-rent’ sector emerging, properties are being designed with the long-term rental market in mind. Experts are predicting that renting will become the norm for an increasing number of people, with tenants remaining in rented accommodation until far later in life than has previously been the case in Britain.
 
If you are thinking of expanding your property portfolio, get in touch to discuss our property management options.
 
 
*Property Reporter



The ultimate guide to renting a property in the UK

 

If you are thinking about renting your first home, there are a few things to consider before you even begin your property search.

 

Getting started

Before you start looking for your perfect place, think about how long you would like to commit to living in a new home. A rental agreement is legally binding, so it is important to decide from the outset whether you are looking for a short-term let or somewhere you can stay for a longer period.

 

Work out how much you can afford. You will need to have enough money to pay your first month’s rent upfront in addition to a deposit, which will usually be equivalent to five or six weeks’ rent.

 

Decide on your must-haves. How much space do you need? Do you need a garden? How about parking or garage space? Which location do you need to be in and how far outside that area are you willing to go? Do you have a pet who will be moving with you?

 

Consider when you would like to move in. A landlord will want to minimise the amount of time their property is vacant, so it can be helpful to shortlist properties which are available as close as possible to your preferred moving date.

 

Preparing the paperwork

It is a good idea to get all your paperwork in order before you start viewing potential properties. Demand for good rental properties can be high, and having everything ready to go will help you stand out from the competition.

 

You will need to be able to prove who you are, with a passport, driving licence, national identity card, immigration status document or similar. You will also need to prove where you live and how much you earn. The landlord or agent will need to be confident you can afford the rent and that you have a steady income. If you are employed, your contract and three most recent payslips will usually suffice. If you are self-employed, you may need to show a previous tax return or bank statements going back several months.

 

Looking for your new home

It is important to register with local agents. Some properties are so popular they never make it to an online listing.

 

Questions to ask when you have found a place.

The first question to ask is what type of tenancy agreement you will be asked to sign and for how long the agreement will be valid. The landlord must allow you to stay in the property for a minimum of six months, and most tenancies will be for a fixed term of either six or twelve months.

 

Next, ask about the deposit. If the total annual rent will be less than £50,000, the maximum deposit allowed is five weeks’ rent. If the annual rent is £50,000 or above, the maximum amount a deposit can be will be six weeks’ rent. The deposit must be refundable at the end of the tenancy, assuming you keep the property in good condition and pay your rent promptly each month.

 

Talk to the landlord or agent about who is responsible for paying utility bills such as gas, electricity, water and council tax. When you move in, it can also be helpful to know which companies are currently supplying the property.

 

Confirm which furniture, fixtures and fittings will be left in the property and finally, check for rules about things like smoking, pets, places to keep bikes, bins and recycling.

 

Moving in

If you will need a removal service to move furniture and other belongings, it is sensible to get that booked in the diary as soon as you confirm the moving date. You should also arrange home contents insurance, along with tenants’ insurance to protect you and your belongings from the day you move in.

 

The keys to your new home will usually be available on the day your tenancy starts. If the landlord or agent has supplied an inventory, check all the details as soon as you can. Put in writing what state the property is in on the day you move, listing each room and taking photos too.

 

Make sure you know how to operate the boiler and other appliances and ask where the stopcock, fuse box and any meters are located.

 

Are you ready to rent? Browse our available properties here and do not hesitate to get in touch to discuss your requirements.

 

 



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