Welcome to your monthly property update!

Welcome to your monthly property update!




Decided to downsize? Here are a few things to consider

 
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.



Why is the spring 2023 property market in a good place?

 
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.

Zoopla*
IMF BLOG**



Thinking of buying a new build? 

 
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.



Now is a great time to buy bigger! 

 
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!

Rightmove*



Conyngham Lane Bridge, Canterbury

The Burrden is an outstanding modern detached four bedroom house which has been thoughtfully...
 
£1,250,000
 

Click here to read Conyngham Lane Bridge, Canterbury.



Cromwell Road, Canterbury

A beautifully presented 5 bedroom detached family house situated in a sought-after residential area close...
 
£750,000
 

Click here to read Cromwell Road, Canterbury.



Santa's Grotto on the Pier

ome and see Santa on Herne Bay Pier.
Santa has a present for you!!
The Christmas Shopping Village will open at 11.00 am. Festive Food Court
Traditional Fairground Rides & Sideshows


Click here to read Santa's Grotto on the Pier.



Good news for homemovers! Homebuyer numbers are increasing

 

In September this year, the number of buyers returning to the UK property market increased by 12% compared with August.* Whether you are wishing for snow this Christmas or a new home, the good news is that more buyers are returning to the UK property market. So, if you are thinking of moving, now is the time to start your search as more properties appear on the market.

The snowball effect creates more sellers
As more buyers get on the move, they bring with them a choice of interesting properties to the market. Many homeowners are downsizing as their families have flocked the nest. Some younger buyers, having stayed at home to save a deposit, have now moved out and bought their first properties. Finally, Mum and Dad have their chance to downsize or use some equity to buy a holiday home. This gives you the chance to find a property with a bit more room. More and more homes appear on the market as home movers exchange contracts.

Home movers are acclimatising to the new normal level of interest rates
Interest rates in the past have been far higher than those of today. And it’s no secret that in recent years we have been spoiled with super low rates. Buyers are now realising that rates today still represent a good deal. Affordability levels are still good. As home movers and households adjust and accept that their mortgage costs are a bit higher, many are choosing to carry on with their home moving plans.

Christmas home-moving flurry
Being in a new home in time for Christmas is a very appealing idea, and many movers are already well into their home-moving journey. More bedrooms for your growing family or a place for everyone to sit at the table in a larger dining room. A magical winter garden tastefully embellished for the holiday season or just because you finally create your vision of an awesome outdoor space. There are so many great reasons to move.

A better year
You may be moving because you want a better work-from-home space, or your motives are based on a new location for work or to live closer to your family. And getting it done in time to start the new year is arguably better than rushing around in time for Christmas. Starting the new year in a new property is like making a fresh start. And the impact the right home can have on your sensory and emotional well-being is extraordinary. Feeling like you are revitalised for all that the year brings in a happier home is a great way to live.

Navigating the property market
In a fragmented and increasingly complex property market, it’s vital that you find the right agent who truly understands your property’s market. Fluctuating prices and an air of insecurity are still in the minds of some homeowners, thanks to so many negative news stories that often overlook the positive aspects of today's market. The reality is that each home-moving story is unique. Agents' databases are filled with individuals who have a specific vision for where they want to live. Your home may be central to this. With an overall shortage of properties relative to high demand, pricing your property accurately has never been more critical.

Book your expert face-to-face valuation today.

Zoopla*



Good news for homemovers! Homebuyer numbers are increasing

 

In September this year, the number of buyers returning to the UK property market increased by 12% compared with August.* Whether you are wishing for snow this Christmas or a new home, the good news is that more buyers are returning to the UK property market. So, if you are thinking of moving, now is the time to start your search as more properties appear on the market.

The snowball effect creates more sellers
As more buyers get on the move, they bring with them a choice of interesting properties to the market. Many homeowners are downsizing as their families have flocked the nest. Some younger buyers, having stayed at home to save a deposit, have now moved out and bought their first properties. Finally, Mum and Dad have their chance to downsize or use some equity to buy a holiday home. This gives you the chance to find a property with a bit more room. More and more homes appear on the market as home movers exchange contracts.

Home movers are acclimatising to the new normal level of interest rates
Interest rates in the past have been far higher than those of today. And it’s no secret that in recent years we have been spoiled with super low rates. Buyers are now realising that rates today still represent a good deal. Affordability levels are still good. As home movers and households adjust and accept that their mortgage costs are a bit higher, many are choosing to carry on with their home moving plans.

Christmas home-moving flurry
Being in a new home in time for Christmas is a very appealing idea, and many movers are already well into their home-moving journey. More bedrooms for your growing family or a place for everyone to sit at the table in a larger dining room. A magical winter garden tastefully embellished for the holiday season or just because you finally create your vision of an awesome outdoor space. There are so many great reasons to move.

A better year
You may be moving because you want a better work-from-home space, or your motives are based on a new location for work or to live closer to your family. And getting it done in time to start the new year is arguably better than rushing around in time for Christmas. Starting the new year in a new property is like making a fresh start. And the impact the right home can have on your sensory and emotional well-being is extraordinary. Feeling like you are revitalised for all that the year brings in a happier home is a great way to live.

Navigating the property market
In a fragmented and increasingly complex property market, it’s vital that you find the right agent who truly understands your property’s market. Fluctuating prices and an air of insecurity are still in the minds of some homeowners, thanks to so many negative news stories that often overlook the positive aspects of today's market. The reality is that each home-moving story is unique. Agents' databases are filled with individuals who have a specific vision for where they want to live. Your home may be central to this. With an overall shortage of properties relative to high demand, pricing your property accurately has never been more critical.

Book your expert face-to-face valuation today.

Zoopla*



Good news for homemovers! Homebuyer numbers are increasing

 

In September this year, the number of buyers returning to the UK property market increased by 12% compared with August.* Whether you are wishing for snow this Christmas or a new home, the good news is that more buyers are returning to the UK property market. So, if you are thinking of moving, now is the time to start your search as more properties appear on the market.

The snowball effect creates more sellers
As more buyers get on the move, they bring with them a choice of interesting properties to the market. Many homeowners are downsizing as their families have flocked the nest. Some younger buyers, having stayed at home to save a deposit, have now moved out and bought their first properties. Finally, Mum and Dad have their chance to downsize or use some equity to buy a holiday home. This gives you the chance to find a property with a bit more room. More and more homes appear on the market as home movers exchange contracts.

Home movers are acclimatising to the new normal level of interest rates
Interest rates in the past have been far higher than those of today. And it’s no secret that in recent years we have been spoiled with super low rates. Buyers are now realising that rates today still represent a good deal. Affordability levels are still good. As home movers and households adjust and accept that their mortgage costs are a bit higher, many are choosing to carry on with their home moving plans.

Christmas home-moving flurry
Being in a new home in time for Christmas is a very appealing idea, and many movers are already well into their home-moving journey. More bedrooms for your growing family or a place for everyone to sit at the table in a larger dining room. A magical winter garden tastefully embellished for the holiday season or just because you finally create your vision of an awesome outdoor space. There are so many great reasons to move.

A better year
You may be moving because you want a better work-from-home space, or your motives are based on a new location for work or to live closer to your family. And getting it done in time to start the new year is arguably better than rushing around in time for Christmas. Starting the new year in a new property is like making a fresh start. And the impact the right home can have on your sensory and emotional well-being is extraordinary. Feeling like you are revitalised for all that the year brings in a happier home is a great way to live.

Navigating the property market
In a fragmented and increasingly complex property market, it’s vital that you find the right agent who truly understands your property’s market. Fluctuating prices and an air of insecurity are still in the minds of some homeowners, thanks to so many negative news stories that often overlook the positive aspects of today's market. The reality is that each home-moving story is unique. Agents' databases are filled with individuals who have a specific vision for where they want to live. Your home may be central to this. With an overall shortage of properties relative to high demand, pricing your property accurately has never been more critical.

Book your expert face-to-face valuation today.

Zoopla*



Applying for a mortgage? Here’s how to improve your chances


Perhaps it’s been a while since you moved, or you are a first-time buyer. Whatever situation you are in, if you are applying for a mortgage, you want to get your mortgage sorted so you can breathe a sigh of satisfaction, knowing that a major hurdle to home-buying has been cleared.

Take a look at your credit report
Having a good credit score is key to getting a mortgage. Make sure you are on the voting register. You may have a perfect credit history, but without it, you will fail. On that subject, make sure you pay any credit agreements you have on time. If there are some you can clear, perhaps this will increase your levels of affordability. Any credit cards that you don’t use could affect the amount you could borrow, so if you don’t need them and you have more than one, think about cancelling them.

The bigger your deposit, the better
Perhaps you are already living at home with parents or a relative and saving rapidly. It may not be ideal right now, but a bigger deposit will not only increase your chances of success but also reduce your monthly repayments. Then, when you finally get the keys to your very own home, your newfound freedom will feel even better.

Buy with your friend, partner, or family

Buying with your partner is an obvious choice for many, and moving to your own place is exciting as you furnish it and decorate it to the tastes of whoever has the final word! If you are not ready for such levels of commitment, then why not buy with a friend? Some lenders will allow you to buy with up to four people. Maybe you could pitch the idea to your parents as a property investment for them and move out more quickly!

Don’t change your job too often
If you are thinking of applying for a mortgage in the near future, changing your job is not a definite guarantee that you will not be successful. Having said that, your lender is looking for consistency. They want to see that you have been in employment for a decent amount of time, usually about three years, depending on the lender.

Get in touch with a mortgage advisor
A good mortgage advisor is worth every penny. Experts in understanding the market, they will have lots of tips and access to ways of buying your home. From improving your credit score to finding a tailored solution from the thousands of products that are available. If you are happy with your existing mortgage deal, you may decide to port your mortgage, which allows you to move with your existing mortgage. There are interest-only options for lower payments, guarantor mortgages, flexible mortgages so you can overpay or underpay, and buy-to-let options for investors. Offset mortgages allow you to link your savings to your mortgage by offsetting the value of your savings against the value of your mortgage amount. The right mortgage advisor can make a big difference in helping you get the keys to the home you want.

Thinking about moving home? Contact us to get started!



Tips on preparing your home for a perfect Christmas

 

Your perfect is different from that of the next person. So how you prepare for the Christmas holidays is your call, but there is nothing like mixing a bit of tradition with some fresh ideas to keep Christmas feeling as festive as possible.

Christmas greetings
Are you up for going all out and adorning the front of your home with an intricate arrangement of lights that can be seen from the stratosphere, or do you prefer to decorate with an air of subtlety? Whatever you decide, create that gushy feeling that makes passersby and guests feel welcome. It’s all about doing it your own way, choose a ribbon, a wreath or a singing snowman, let your imagination do all of the hard work for you.

Stock your cupboards
Christmas is an expensive time of year. Start stocking your cupboards now with items that have a long best-before date. Maybe you have already made your Christmas cake or ordered your pudding. Planning ahead can make for a more delicious Christmas. Making edible decorations like chocolate reindeer also helps! But you could always grace your front room with mince pies, garnish them with a bit of holly, and suddenly they too become edible decorations.

Add some authenticity
Maybe you would prefer to just blow up some balloons, or you are going to go for it by creating your own grotto out of wood. Somewhere in between is a good place to start. A bowl full of chestnuts, or get crafty and make your own baubles. If you need guidance, buy a DIY kit.

The scent of Christmas
With the aroma of great food mingled with the pines of a real Christmas tree and maybe a good punch—the scents of Christmas are everywhere. But if you want to enhance this and stretch it out in the buildup to the holidays, think about scented candles, scented sachets of soap, fragrance oils, or even infusing your bathroom with herbs!

The sounds of Christmas
Christmas songs are sometimes sources of contention. Some people love them, others do not! But there are other ways to add atmosphere to your home without involving carol singers. Talking reindeer or snowmen, will help create an atmosphere of magical Christmas memories, for all the family.

A wonderful outdoor area
A miniature Christmas tree placed near your outdoor dining area within reach of a characterful outdoor stove and nice lighting could even warm Scrooge this Christmas. Add a festive theme with holly placed under the pagoda or use it to simply complement outdoor candles. Hang nice LED lighting in case you love carol singers and want an exclusive performance from the comfort of your outdoor living area, with a nice glass of good punch.

Are you dreaming of getting the right home for Christmas? Contact us today.
 



It's been emotional! Learning to let go of your old home

 
It’s easy to become attached to a home that most likely made so many happy memories, and perhaps some that are not so good. Either way, the best way to move on in every sense of the word is to focus on the future. But if you find the entire process daunting, here are a few things you can do as a coping strategy.

Celebrate the past, but don’t dwell on it
Saying goodbye is important, and how you choose to do it is up to you. Maybe you are emotionally detached, and a simple walk around your home as you close the door for the final time will suffice. On the other hand, you may want to build up to this process over time, saying goodbye over a period of weeks. Savouring so many nice memories is important, but there will also be a big part of you that can’t wait to move. Especially if you are moving to a bigger and better home.

Keep yourself busy
This is the secret to moving on with most things in life, and moving home is no different. Write an action plan for moving. Break it down into categories. Include everything from moving day to things to do in your new home. Bring the vision of your new life to reality by starting new traditions. Think about the details of how you can make your new home the best version of itself while getting to know your home's new location. Begin the de-cluttering process of your current home now; it will reduce your stress levels significantly.

Accept that change is good
The ability to change is hard-wired into most of us and a natural part of life, so you will be more adept at coping with it than you realise. Embrace the exciting emotions that a new home brings by looking forward to the great memories you will make in the future. Your home will inspire so many positive feelings, from how it makes you feel to its improved energy efficiency or location. Look forward to your first sleep in your new home and allow the vision of your new outdoor space, bedrooms, or kitchen to take over.

Remember, your agent is human
Good estate agents help you understand the buying process. This makes your entire moving journey less hassle, so you can plan each step. Because of this, your friendly estate agent can be a great source of emotional support. Putting your mind at rest with a thorough understanding of your big move. And connecting you with good mortgage advisors and conveyancers, guiding you on asking and selling prices and preparing your home for sale, your estate agent is your rock when moving.

Conclusion
In today’s world, with increasing automation and the advent of artificial intelligence and online-only agents, it’s easy to forget the importance of the human element, which offers so much support. Moving home does not have to be complicated, even if we humans are!
Are you looking forward to saying hello to a new home? Get in touch today.



Why buying now could be a really great move?


Timing is often on the minds of many homemovers. You want more. You want to move, but you ask yourself: Is it the right time? This can be for an entire host of reasons, and in many ways, it does not exist. Often, the amount of time you have invested in a property supersedes anything else, including financial elements. If you have a lot of equity in your home or are a cash buyer, you probably don’t worry too much about interest rates. If you are moving to a region where you have more space for your money than your previous location, then you still stand to gain. Perhaps you are moving for emotional reasons, and while the numbers are important, they are not a priority. But if you are someone who likes to be a bit savvy, it’s all about anticipating the market ahead. In fact, average asking prices in October 2023 increased by 0.5%.*
 
2024 has been built on good years
Many properties have had a small fortune spent on them in recent years. If you are thinking of moving now, you will find a high standard of interesting, inspiring, and, in some cases, breathtaking properties. There are still plenty of projects to be found that are both characterful and modern, with a little room for improvement in the mix as well. Over the past few years, prices have rapidly increased, allowing your home to gain equity quickly. Yes. There was a little bit of a lull in 2022, but it was nothing like the bleak picture that the mainstream media painted. This allowed the property market and you to catch your breath. Letting off a little steam is a healthy thing; it prevents overheating and keeps the market stable.
 
Many home movers are making an early start
A lot of homemovers will put their homes on the market over Christmas, and many more will be viewing them; it’s become a tradition. As you feast on Christmas fayre your eyes can gorge on stunning homes and investments. Suddenly, it will be 2024, and offers, viewings, and more valuations will keep agents busy. But not in a frantic way. Though all this activity will keep prices healthy, unlike in recent years, they will not get carried away. This early momentum makes it a good time to find a property and plant a for sale sign at your address.
 
Get ahead of the market
There are positive signs that the market has stabilised thanks to settling interest rates. There is much talk of the property market ascending as 2024 progresses, so by moving now, you can get ahead of the curve. Prices may fluctuate marginally, but the strong demand for your home means your property will retain its value. So, buying now before prices start increasing more rapidly could be the way forward. Valuing your home correctly with a skilled and knowledgeable agent is critical.
  
Defeat higher mortgage rates
With the right mortgage advice, you may find that you are already further ahead than you realise. In October 2023, the number of mortgage products stood at 5,495, which is the highest in 15 years.** Moving home with your existing mortgage (known as porting) or taking out a longer-term could counter the effect of today’s higher interest rates.
 
Final thoughts
It’s understandable to feel a little anxious with so much change occurring in 2023. A lot of what is churned out in the media is negative, and this does not help. But by focusing on your unique situation with the right agent to advise you, there are many doors open to you that will lead you to the right home. In fact, buying now could be the best move you ever make.
 
Get in touch to get a true understanding of what is possible for your 2024 property plans  
 
Rightmove*
Moneyfacts**



Ten reasons why the 2024 property market is looking good 


2023 was a better year than expected
Next year is already off to a good start on the back of a much less bleak 2023 than anticipated. Many doom-mongers had predicted the worst, but the annual national average asking price in November came in at -1.3%.* When you consider the rapid growth in prices over the last few years, this is insignificant. In fact, in October 2023, the monthly change in the national average asking price increased by 0.5%.*
 
Realistic pricing
There are no hard-and-fast rules. All properties are unique, and first-time buyer home prices have remained the most robust. This will continue in 2024. But with house prices no longer rapidly increasing, the market is in a better place and more reasonable pricing is prevailing. There is also slightly more room for negotiation on bigger homes. Because of this, it’s vital to value and price your home correctly in the coming year.
 
Stabilising interest rates
Interest rates were held at 5.25%** for the second consecutive time by the Bank of England in November after months of increases, thanks to falling inflation. This has created more certainty and stability as we enter a new year. There is a wider acceptance that mortgage rates will not return to the super-low levels of the past. This is ushering homemovers into getting on with their moves and not waiting any longer with a life-is-for-living attitude. And with many banks not passing on the increase in the base rate to mortgage rates, if there is another increase, then your mortgage will not necessarily cost you more.
 
More mortgage products to choose from
Your mortgage benefits from a more stable base rate. This leads to a greater choice of cheaper mortgages appearing on the market. Moving home mortgages or porting your mortgage allows you to move home with your existing mortgage. This year has seen an increase in mortgage support schemes and longer terms, which make moving with higher interest costs more affordable. A good mortgage advisor, like a good agent, can be the key to making your move more possible and can explore options such as offset mortgages, and interest-only mortgages. Next year, we should see a bigger increase in choice as the market settles.
 
As mortgage rates decrease property prices will increase
Some analysts predict that mortgage rates will decline in 2024 and that house prices will rise towards the end of the year. But there is little point in waiting for this to occur, as property prices right now are reasonably priced. Putting off moving to later in 2024, when mortgage rates may decrease, will not save you any money. As property prices increase, any savings you thought you might gain by waiting will be lost.
 
A returned-to-normal market
The market has returned to the more normal levels of 2019. With reasonable pricing, strong demand, and good levels of affordability, 2024 promises to be a better year. Prices could not continue to rapidly rise as they have in recent years. Looking ahead, the property market is strong, resilient, stable, and far less frantic than in recent years. This year has seen a re-adjustment and the re-emergence of a market that will allow you to enjoy your home move with more time and less haste.
 
The Christmas and New Year surge
In 2022, the number of views of homes for sale on Rightmove jumped by 20% between the week of Christmas and Boxing Day.* Thousands of homemovers start viewing properties over Christmas as homes appear on the market in time for the Boxing Day home viewing frenzy. Getting an early start to the year ahead will create renewed buoyancy in the market. Your home will sell quickly, and there will be plenty of homes for you to explore. Perhaps it is also hard-wired into many of us that we like change as a new year appears.
 
Good growth
With improved levels of affordability, a renewed vibe at the beginning, and an expectation of lower interest rates by the end of the year, 2024 is looking good. Many people are eager to get moving after postponing their plans to wait and see what happens. With competitively priced homes entering the market and this pent-up demand, 2024 could see good levels of growth.
 
Properties
Whether you are window shopping or seriously seeking the property of your dreams, you will notice a huge variety of beautiful properties appearing on the market. With for-sale signs sprouting on your street and property portals. Homes and investments in all locations, from first-time buyers to large, luxurious, or compact apartments, will give you a greater choice than in past years. And finally, you make your move to a better way of living.
 
Your agent will make it easy
Estate agents are evolving and being less rushed than in previous years, they will have a lot more time for you. But don't be fooled into thinking this is due to a lack of market activity. The market will remain strong, resilient, and buoyant and feel less frantic. Agents are connected to vast databases of homemovers and mortgage advisors, and with the ability to price your home correctly, they make moving easy.
 
 
Need any more reasons to make your move happen? Contact us  
 
Rightmove*
Bank of England**



Interested in buying a leasehold property? Here’s what you need to know


If you are looking for a more affordable way of finding a new home or entering the property ladder, buying a leasehold property could be the best option for you. With lower upfront costs and fewer maintenance responsibilities, this type of property can offer a more relaxed experience for buyers. Whether you are buying your first home or simply looking to relocate, it is essential that you understand the complexities of leasehold ownership. Here’s everything you need to know...

What is a leasehold property?
When purchasing a leasehold property, the leaseholder acquires the right to use and occupy the land and the buildings on it for a certain period of time, while the freeholder who grants the lease retains ownership of the land. This differs from purchasing a freehold property, which grants the owner complete ownership of both the land and the buildings on it for an indefinite period of time. The freeholder is responsible for any necessary repairs and the upkeep of the property throughout the duration of the lease.

Lease duration
Leaseholds have a specified duration for which the leaseholder has the right to occupy the property. The length of a leasehold can range from a few years to several decades, with 99, 125, and 999 years being common durations. The length of a lease can have a significant impact on the market value of a property, as a longer duration is often regarded as more reliable for buyers.

Ground rent
The regular payment from a leaseholder to the freeholder for the use of the land on which a home is situated is known as ground rent. The amount and payment frequency of the lease is stated in the contract, and costs £10-£500 per year, with the average leaseholder in the United Kingdom paying just £50 per year.*

Service charges
Leaseholders are responsible for paying service charges, which are used to pay for the upkeep and maintenance of communal areas and facilities such as corridors, gardens, and exterior walls. The freeholder is responsible for making any necessary repairs to the property as well as making sure it is properly insured. The lease agreement should specify in detail what the freeholder is responsible for and should also detail the leaseholder's financial responsibilities.

Lease extensions
If certain criteria are met, leaseholders may have the choice to extend their lease period, which can provide peace of mind and increase the value of a property. The leaseholder is only eligible for a lease extension once they have owned the property for at least two years. The safest way of extending a lease is by the leaseholder giving the freeholder a statutory notice expressing their desire to extend the lease by 90 years and stop paying ground rent. The price will be negotiated between the two parties and then decided upon mutually. If a freeholder decides to sell their property, the leaseholder legally has the right of first refusal.

Professional advice
Before buying a leasehold property, it is important to check through the lease agreement to make sure all the details are correct, including the duration of the lease, the cost of ground rent and service charges, and the options for extending the lease in the future. It is important to talk to your estate agent when you are looking to buy a leasehold property, as they can help with finding a suitable property, explaining the terms of a lease, and negotiating ground rent and service charges.

 

Looking for your next home? Get in touch today

Review42*



How to present your home for a viewing in 2024?


Have you placed your home on the market with the goal of relocating in the new year? If so, you should make sure your home looks irresistible when potential buyers come for a viewing. Let's look at what you can do to improve your chances of receiving the offer you desire for your home.

Give your home some kerb appeal
First impressions are crucial. Because of this, your property's exterior must be appealing so that prospective buyers are impressed before they even step foot inside. One way to achieve this is by giving your door a clean, and maybe even a lick of paint. If you have a front garden, you should mow the lawn, trim any shrubbery, and get rid of any weeds that may be growing on your driveway or patio.

Open up the space
It is important to make sure your home is clutter-free, as a clean and organised interior showcases the full potential of a property. A tidy living area allows potential buyers to envisage themselves in that property, increasing the likelihood that they will make an offer. A cluttered property will distract people from your home’s features and may even give the impression that the property has not been maintained properly, so it is always best to present the interior of your home in an attractive way.

Make the necessary repairs
Before showing your home to prospective buyers, make sure all necessary repairs have been made, as this will give them confidence that the property has been well maintained. A property that has no issues will likely achieve a higher asking price and sell faster, as potential buyers will be more encouraged to make an offer. A well-maintained property also gives you leverage when negotiating a price for your home, and the buyer is much more willing to make an offer that matches your asking price.

Let some light in
In order to create a bright, welcoming ambiance that will attract prospective buyers, it is important to let in natural light before a viewing. As well as improving your property’s aesthetics, natural light will make your home feel more inviting and spacious. Good lighting will really show off your home’s features and character, making the buyer more likely to be tempted into making an offer.

Freshen up the air
Allowing fresh air into your home is a great way to create a pleasant and clean atmosphere. A well-ventilated home removes bad odours and reduces the effects of damp and condensation, which could put off potential buyers if present. Creating that fresh feel in your home could make all the difference when potential buyers consider making an offer.

 

Looking to move to a new home in 2024? Contact us today