Downsizing is no longer something that you do when you pay off your mortgage and your family has all grown up and fled the nest! Young people are also downsizing, and it has become a bit of a trend, helped in no small part by the cost-of-living crisis and the rapid growth of property prices in recent years. This is helping to keep smaller house prices strong because, while larger homes are desirable, they are not in demand quite as much. But it’s not all about numbers—people are downsizing for a host of reasons, so what are they?

Liberating your life
Downsizing can be a liberating experience. You get to move to a more compact home, and because of this, you need to declutter. It’s a bit like giving your life a good spring cleaning. Finally, you can say goodbye to all those belongings that you no longer need or want. You have probably forgotten why you bought some of these things in the first place! On the other hand, you will want to keep other, more sentimental items and the things that still mean something to you or are at the very least useful. This helps refocus your life and allows you to concentrate on what’s important.

What’s important to you?
If you have retired and you want to enjoy your life, then releasing the equity in your home by selling up and moving to something smaller makes a lot of sense. You can’t take it with you! Having worked hard most of your life, you want to live it to the fullest. This principle applies to the younger demographic too. Many people view life a little differently than in the past and place a lot of emphasis on the adventure of life. Travelling, holidays, socialising, and hobbies are as important as paying a mortgage.

Easy living
Less cleaning, maintenance, and effort required to keep your home in order is a tempting prospect for many. Decorating your home is easier, and perhaps an emphasis on quality in place of size sways some home movers to enjoy more compact spaces that are accessorised to the standards they desire.

Lower living costs
When all is said and done, the fact remains that smaller homes tend to cost less to run. Cheaper energy bills will save you money, and you will most likely pay less in council tax. Your mortgage payments could also be lower. If you are downsizing from a bigger property and have good levels of equity in your current home, you could become mortgage-free or reduce its term significantly.

It’s important to plan
Careful planning is a good idea. You may need to change your furniture, and saying goodbye to certain items can be emotional. Consider all aspects of your new life. From family visits to spare rooms to space for your hobbies. A good tip is to use your floor plan to work out what is going where in as much detail as possible. Then enjoy your new life with a little more money and time to concentrate on your newfound freedom!

Are you interested in downsizing or moving to a bigger property? Get in touch today.

 

Average house prices in the UK have since the pandemic risen by £42,000.* The value of your home has increased rapidly in recent years, and this puts you in a great place even if there has been a bit of a slowdown, but then you could be forgiven for asking: What slowdown? House prices are stable and, at times, increasing, and to gauge the market by the unpresented growth in the past few years is a little unfair. Nonetheless, most of the value gained, or in some cases, the continued increase in value still exists as equity in your home. Even if you have lost a little value, you are still in a good place. A little bit of market cooling leaves more scope for getting your hands on the keys to a better home with a bigger discount without the frantic price bidding of past years.

The home improvement boom
It’s no secret that many homes had thousands spent on them during the pandemic. Many people, due to travel restrictions, chose to spend money on their homes instead of holidays. As a result, many homes are now in beautiful condition. Freshly decorated with external and internal renovations, resulting in homes with great work-from-home spaces and outdoor living areas that are ready and waiting to be lived in. This really does make a huge difference in the quality of your home and work-life balance. Homes with kitchens that inspire you, gardens that take your breath away, and bathrooms boasting cutting-edge design.

More mortgage choice
Mortgage choice is returning to the market, with thousands of options now available. So in essence, you will have a lot of decisions to make when it comes to what home you want and what mortgage you require. In many ways, all of this makes the prospect of moving very interesting compared with past years. Some home buyers are choosing to take interest-only mortgages, knowing they can overpay their mortgages, which releases some of the pressure on financial commitments.

Interest rates
Mortgage interest rates are falling, and the recent announcement of the IMF (International Monetary Fund) suggests that interest rates could return to pre-pandemic levels. ** The suggestion is that the high interest rates that many of us are paying at the moment are not a long-term deal. It could be the case, and it’s accepted by many analysts, that in the not-too-distant future, we will be paying less for our mortgages.

A bigger selection of homes
Compared to last year, the stock of homes for sale in the UK has been boosted by 60%.* The spring market is rapidly becoming the summer market. And perhaps the enticing thought of moving to a perfect home in time for summer is too much to resist for some home movers. As home movers take the plunge, they put their homes on the market, adding to the splendid choice for you to explore. The market is in a better place than last year in many ways, but at last you can enjoy it without being flustered by a frantic rush to get your hands on the home you truly love.

Live the life you deserve by finding the home you love living in! Start your search now and browse our properties.

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Buying a new build is becoming more appealing for many home buyers. While you may prefer the charm and character of older properties, many new builds seem to offer much more personality than in past years. Making your decision is not quite as straight-forward as it once was! There are many good reasons for choosing a new build home, so what are they?

Guarantees
Most new builds are sold with warranties of up to ten years. This protects you against any nasty surprises and unexpected costs. You certainly will not have to worry about plumbing or rewiring issues. Not to mention the stairs or reskimming walls compared with redecorating an older property.

Lower maintenance costs
Even after a few years of living in your new home, chances are you will not have anything to repair or maintain. Insulation, upgrading the boiler, even if you are contemplating fitting solar panels, you might find that these could be fitted before you move in. In the garden, you will only ever need to add to what is most likely quite basic; compare this to landscaping or the removal of an old patio or decking, and already you have saved significantly in costs.

Design it to your specifications
Often, new build homes are not built before you move in! This means you can decide on things like kitchen design, tiling and colour schemes for the bathroom, and the locations of sockets. You will most likely get options for landscaping the garden too.

Energy efficiency
Most new builds have good EPC (Energy Performance Certificate) ratings of A and B, making your monthly energy bills cheaper than those of some older homes, which achieve less energy efficiency. That’s not to say you can’t find an older home with a good rating, and energy consumption will also depend heavily on the energy ratings of your appliances.

The appeal of a brand-new home
A bit like buying a new car, for some people, owning a home that nobody else has lived in is an appealing prospect. You will be the first to enjoy everything that is brand new, from floor to ceiling, not to mention the new kitchen and bathroom. This will make it feel a bit more exclusive, but on the other hand, often new builds are part of larger developments and are quite similar even if created to your own specifications.

No chain
Another big advantage of buying a new build is that it's chain-free. That means you could spend less time waiting to move in, provided you have the financing in place. That said, there is no guarantee that this will be a faster process. It largely depends on how quickly your new home is built. And that depends on how soon you purchase it!

With no resident seller, rely on your agent
A good move to make for added peace of mind is to buy through a trusted agent. The home-moving process can be stressful, and with no resident seller, you want to rely on an established and experienced team you can trust.

Are you thinking more and more about buying a new build? Get in touch to see how we can help.

 

Homes for first-time buyers, typically with two bedrooms, are selling exceptionally well right now. In March 2023, they were just 4% down on 2019, and average asking prices for the same period were down by just £500.*

The market for larger homes is a little slower, with sales agreed in March being 10% down on 2019 and second-stepper homes being 13% down.* This tells us that the market is in pretty good shape overall, but what is more obvious is that now is a great time to ascend the property ladder.

If you own a home that is suitable for first-time buyers, with two bedrooms or along the lines of a compact starter home, you will get a great price, and with larger homes selling a little lower than current asking prices, you are likely to get an offer accepted that will save you a bit of money.

Why is your starter home in such high demand?
There are many reasons why demand for smaller, more compact homes is high right now. There is the price of energy and the cost-of-living crisis. First-time buyers are looking to get on the ladder before the mortgage guarantee scheme, which makes it possible for first-time buyers to buy with a 5% deposit and is due to end in December this year. It stands to reason that smaller homes are cheaper to run, with less council tax and less maintenance, although this is not always the case. And with people downsizing to smaller homes, chances are that if you want to sell up, it will not take long before you are on the move.

How can you get more house per property pound if you buy bigger?
The short answer is that smaller homes are selling more quickly than larger homes, so the price of smaller homes is stronger, leading to less scope for negotiation. With asking prices for larger homes not quite as strong as those for smaller homes, you are essentially getting more house for your money. It stands to reason that if you find a bigger home and it’s taking a little longer to sell, and with asking prices achieved at a lower rate than those of smaller homes, you already have one foot in the front door. Bring your haggling hat; there is nothing more annoying than ridiculously low offers that will only get rejected. But there is more scope for a reasonable amount of manoeuvring on price.

The market will bounce back, and that bigger house may become out of reach!
Many analysts expect house prices to rise quite steadily in 2024. In March, average property prices rose by 0.8%.* This could be a sign that buyers now realise that now is a good time to move, and it is a sure sign that the market is healthy and stable. Without a crystal ball, the future is impossible to predict, but you might find that in the near future, larger homes will become out of reach as prices start to ascend more rapidly.

Interest rates
It’s no secret that interest rates are on people's minds right now. However, with the recent announcement of the IMF (International Monetary Fund), which predicts interest rates to fall back to pre-pandemic levels. Mortgage interest rates are on the way down, and with many analysts suggesting that they may return to much lower rates, when buying a home, you could consider higher interest rates to be temporary.

Conclusion
Perhaps the best thing to do is to check out the market and see what you can find. The joy of property hunting is that you never know what you might find. There are no fixed rules, but you might be surprised at what you could achieve.

Looking for a bigger home? Looking for a more energy-efficient home? Looking to sell your home? Get in touch, whatever your property needs are!

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Are interest rates peaking?
Inflation is falling, but with so many fluctuations in interest rates, it can be frustrating trying to plan your future. With inflation gradually declining to 6.8%, lower mortgage rates are on the way.* Projections also indicate that both interest rates and inflation will continue their descent. But as we have seen, world events can change quickly. Perhaps too much emphasis is put on interest rates and not enough on the property you desire, which could improve the quality of your life immeasurably. As the Bank of England steps closer to its target of 2%, there will be fewer fluctuations in interest rates. Nevertheless, many analysts say that we may never return to the ultra-low interest rates of the past. So why wait to buy the home you want?

The solution to rising mortgage costs
Many people are in the fortunate position of owning their homes outright. If you are not in this nice predicament, you can’t be blamed for worrying about rising mortgage costs. If you want to buy now, there is a lot you can do until you get a better mortgage deal in the future when interest rates fall to more favourable levels. Porting your mortgage, that is, buying a new home with your existing mortgage, which means you could pay your current, perhaps lower, interest rate. Extending the term of your mortgage is also a way to reduce your monthly mortgage outgoings. And interest-only payments, both in the long-term and short-term, can be effective in managing your finances.

The properties
It's no wonder that the UK property market is the envy of the world for many. With an eclectic mix of enchanting properties, from castles, country homes, and Victorian townhouses to ultra-contemporary dwellings. Whether it's mansions or maisonettes, flats in the city to rural retreats, there’s an endless selection of properties to explore. And that's just the beginning; there are infinite colour schemes, interiors, and furnishings that make a home your own. Contemporary properties have departed from tradition, offering an abundance of beautiful homes that never cease to surprise. From humble terraced properties with expansive, beautifully landscaped gardens to ultra-green country farm houses modernised while preserving their traditional charm.

Making memories is priceles
Interest rates will rise and fall over time. But as time passes without the home you truly know will make you and perhaps your family happy, is there any point in holding off your dreams? Property prices, in the long run, always rise. Can you put a price on happiness? Any money you save now by waiting to see what happens simply delays the appreciation of your new home, paying off your mortgage, and could put the rapidly gained equity your current home has earned to waste. It is, of course, a balancing act; the numbers need to be right. As you seek the right advice and explore the increasingly diverse range of mortgage products, you open doors to amazing properties.

Contact us for all your property needs to see if we can turn your vision of your perfect home into a reality

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Outdoor living spaces are now as important as any room in the house. But that serene and chilled feeling that only comes from outdoor spaces does not have to end just because it’s winter. Whether you have a vast collection of spaces, a balcony, or something in between, you can create something magical that you can benefit from all-year-round.

Shelter
Whether you opt for awnings, pergolas, umbrellas, a gazebo, or your own unique design. Complement the aesthetics of your home and shield yourself from the rain.

Comfort
The key is to combine comfort with durability. So, acquire cushions, couches, throws, rugs, and tables that can cope with a bit of moisture and cold weather. More importantly, if you are warm and comfortable, you will enjoy your outdoor space. Then you can relax after a hard day's work.

Entertainment
Add music with portable speakers, an outdoor big screen for your favourite films, or a telescope for stargazing. Enjoy a warm, fresh-air experience as you take in the inviting view from your outdoor space, perhaps overlooking the garden.. Maybe you would prefer to curl up with a good book or entertain guests.

Fire
If you are entertaining, you can’t ask all your guests to curl up under a blanket! Adding a patio heater, fire pit, or outdoor wood burner can elevate the ambiance. You can’t beat the crackling of a real fire. Perhaps you already have a log store, and if you don't, consider getting one to add character to your relaxation space.

Sleep
An outdoor lounger or hammock is a great spot for an afternoon nap. Enjoy a good book, try some meditation, or get comfortable for movie night.

Food
You've got several options to elevate your al fresco dining. Build a comprehensive outdoor kitchen for a gourmet experience or just add a table to enjoy meals as the sun sets and into the evening. For a middle-ground solution, how about installing a fridge to keep your beers chilled throughout the summer? If it's a hot cuppa you fancy in the winter, adding a few electrical sockets means you won't have to trek back to the kitchen to boil the kettle.

Drink
An integrated bar will also help save your legs, especially if you are fond of cocktails. Whether it is an extravagant design with bar stools or a small cupboard, it will become more appealing when adorned with nice details. But if you prefer more mainstream choices, add a coffee machine or juice bar in case you want to work from home in your outdoor living space!

Light
Lights on strings, solar lighting, and candles, all available in an infinite variety of styles and shapes, will add warmth to your outdoor space. Soft lighting for romantic or relaxing evenings will create a magical glow. Modern or antique lanterns will stop the flames from going out, and you can relax or entertain to your heart's content.

Will an outdoor living space add value to your home?
The answer is undeniably yes. Your property will be a much better home to live in, and the more refined your outdoor space is, the more desirable your home will be to prospective buyers.

Contact us to see how you can find your perfect home today

 

Modernising an older home requires a delicate balance between preserving its history and introducing contemporary elements. Your property's character will determine which original features to embrace or replace. You can make subtle, budget-friendly changes or invest in more extensive renovations.

Celebrate your home's original features
From your fireplace to the staircase, take a step back to take in the features you love and want to keep, then work in harmony with them.

Think about the original materials
The same applies to the woodwork, natural stone, or brickwork of your home. These qualities can inspire your approach to modernising your home.

Knock down some walls
Older homes often have floorplans composed of smaller rooms. Creating an open or 'broken-plan' layout can pay homage to the past while infusing a sense of modernity..

Remove old wallpaper
While some trends stand the test of time, others may need to go. For example, partly wallpapered walls. If an older fully wallpapered wall needs updating, it's time to remove it.

Add some smart technology
Subtle and discreet smart lighting systems, thermostats, and security cameras complemented with voice-activated systems will modernise your home without ruining its aesthetics.

Improve your home’s hardware
USB plugs, new power sockets, and light switches can provide cost-effective ways to modernise your home, making it more technology-friendly.

Add some modern art
Modern art in the form of photography, paintings, or sculpture can provide a timeless modern touch to any room, seamlessly blending classic features with a contemporary interior.

Install a new bathroom or kitchen
Marble, granite, wood, tiles, or vinyl? There is much to think about when creating these pivotal rooms in your home. Combining energy-efficient appliances with granite or quartz worktops can offer a modern and timeless appeal.

Be creative with your furniture
Paying homage to your home's history can be achieved using weathered furniture or collectable pieces. Rustic furniture that is set in a modern, brightly painted, spacious room can nod to your home's older features.

Restore your original flooring
Peek under the carpet or lift your worn laminate and you might find an original, real wood floor. Have you considered sanding it down and treating it?

Create space
Reducing clutter can create the illusion of larger rooms. When choosing lighting, you have a wide range of options to blend modern fixtures with older designs or even antique shades.

Create a connection with the outdoors
Remove barriers between your home's interior and the outdoors to blend your living areas. Think about creating an outdoor space that can be used even when it’s raining; add a few gadgets and timeless details such as candles.

Add some glass
Whether it's bifold doors, glass door walls, glass walls, skylights, glass roofs, or innovative indoor windows, adding more natural light can breathe fresh air into your space and create a sense of spaciousness.

Added value
Feeling inspired? Modernising your older home will most certainly add to its value. How Your approach is your choice, but seeking inspiration, like viewing properties, can spark ideas for improvement.

Contact us today for an accurate appraisal of how close you really are to living in the home you deserve