Should I Buy And Sell Property At The Same Time?

It is perfectly natural for a homeowner to buy and sell property around the same time. If you already own a house and it is time to move on to a new one, it is very likely you need to sell property as well. However, if you are weighing up your options, is this the right approach to take?

You may feel as though you have no other option. After all, you need a place to stay, and you are only selling your current home because you are moving to a new one. If you didn’t plan on buying a new home, there would be no need to sell your current home. So, the process goes hand in hand, even if attempting both activities at the same time makes for a stressful time.

There are reasons to sell property before you buy

If you are looking to sell your current home before you begin the process of buying a new home, there are reasons to do this.

When you aren’t attempting to sell at the same time as you buy, you are in a stronger negotiating position when you sell. Some vendors have found themselves accepting a lower offer than they would like, simply because of the deadlines of the buying process. When you aren’t pushing through a property purchase, you have a stronger position to sell.

When you aren’t buying at the same time as you sell, you aren’t part of a property chain. This is a great asset to have when you eventually get around to buying a home. You will already have sold your property, be free of a property chain, and you’ll look more appealing to vendors. This factor alone may not make the difference when there are many bids in for a house you like, but it may.

Vendors want to avoid a chain, so if there is an acceptable offer from a buyer who isn’t involved in that process, their offer automatically carries additional weight.

Another reason to sell before you buy is you think house prices are going to fall in the near future. If you sell for a high price, and it then becomes more affordable to buy property, you can enjoy a profit on your home. You may use this money to buy a larger home, or you may put it to good use in other ways.

There are reasons to consider selling and buying at the same time

Of course, you must be aware there are reasons to sell and buy property at the same time. While there is a lot to be said for selling first and then buying at a later date if you believe property prices will fall, but what if the opposite happens?

If you sell your home and then house prices rise, you may not be able to buy the home you want, or you could find yourself priced out of the market. It is easy to see why many homeowners choose to buy or sell at the same time, because it minimises problems like this occurring.

There is also the fact many people would rather not rent. When you rent, you spend money that gives you nothing back, and it can be expensive. Therefore, it is best to coincide the buying and selling of property, so you can move from one house to the other.

If you are looking to sell your home, and you need guidance, please contact Williams of Petersfield, and we will do everything we can to assist you with the process.

How Much Rent Should I Charge Tenants?

While being a landlord can be lucrative, it isn’t an easy role. You have a lot of big decisions to make, and it is understandable many landlords need assistance. We aim to help you make an informed decision or decisions on matters such as rent, no matter your situation.

We know setting a rental fee is hugely important for landlords, and if you need guidance in this area, you are not alone. The question of how much rent should I charge is a familiar one for landlords, and it is one our clients ask us. We know it would be great to receive a high rental fee, but in today’s competitive market, this isn’t always possible.

Tenants are savvy regarding rent options these days

Tenants are savvy, and they research their options. If you overprice your rental property in comparison with other homes in the local area, it is likely you won’t generate much interest in your rental property.

You may think a small rental fee increase doesn’t matter much, but to tenants, it can be a lot of money. When your finances are pushed to the limits, an extra £10 or £15 a month adds up. Don’t forget that an additional £10 a month is equal to an extra £120 a year, and for many people right now, this is a lot of money.

How does your rental property compare to local options?

It is helpful to consider the local market, and what rental fees are in place right now. You should look at the average rental fee for your type of home in your area, but this doesn’t mean you should charge this fee. You should know how your property compares with the average rental properties in the area.

If your rental accommodation is better than the average rental home, you can justify charging a more significant rental fee. If your rental accommodation isn’t up to the standard of the average rental fee, you should look to charge a lower rental fee for your accommodation.

The condition of your home, the size of your home and the number of bedrooms on offer are important factors to consider when setting a rental fee. However, there are also factors outside of your control when it comes to the rental fee tenants are happy to pay.

  • You need to consider the following aspects when setting a rental fee:
  • Your location, and the availability of facilities and amenities nearby
  • Your location, and the demand for rental property in this area
  • Your location, and the supply of rental homes in your area
  • Whether the property is furnished or not

All these factors influence the right price for your rental fee, and if you need help in determining the best rental price for your needs, you are not alone.

At Williams of Petersfield, we are pleased to say we know the local rental market. Our knowledge and guidance provide you with insight, which helps you make an informed decision regarding your rental fee. If you are a landlord looking for help to serve your tenants, contact us today, and we’ll be happy to help.

Quick and East Home Cleaning Tips Brighten Your Home

You don’t need a special reason to clean your home. If you plan on selling your property, it makes sense to carry out as much cleaning as possible, but all homeowners should take steps to have a home they are proud of.

There is no shortage of cleaning products and materials to choose from. The cleaning industry is a massive business, and a lot of companies are keen to make as money from homeowners as possible. Not everyone is willing, or able, to spend a lot of money on cleaning products. Also, you may have a cleaning emergency to attend to quickly, and cant get to the shops for the best products.

Thankfully, many household items are hugely effective for cleaning your home. You don’t need to spend a lot of money to have a clean house, and you may not even need to step foot outside of your front door!

Lemons and sea salt scrubs up brilliantly

If you are looking to get rid of grubby marks or you need to remove stains at short notice, your best tactic may be close at hand. A mixture of lemon juice, water and sea salt is often all you need to get to work on a nasty mark or stain. Small spills can be eradicated in minutes, and if you are willing to apply some elbow grease to the task, you can have your carpet, rug or couch looking as good as new in the blink of an eye.

Baking soda has plenty of cleaning uses

No matter the problem you have, you’ll find baking soda is a great way to solve them. If you are planning on selling your home, you must focus on all the senses. It is easy to focus on making your house visually pleasant, but a home that buyers love will also smell fantastic. Baking soda helps to neutralise nasty whiffs and pongs, so you should be able to create a more appealing home.

Baking soda works well with vinegar

When it comes to removing marks, you’ll find that baking soda and vinegar works well together. This combination allows you to aggressively attack stains, scrubbing them into submission in next to no time.

You’ll also find a combination of baking soda and vinegar helps you to clean worktop surfaces, kitchen hobs and even a microwave.

Of course, if you want to make cleaning the inside of a microwave extremely easy, you should return to lemon juice. When you place a mixture of water and lemon juice into your microwave and let it run for a few minutes, all you need to do is wipe a cloth over the inside, and you’ll have a shiny microwave once again.

You also don’t need to invest in expensive brushes. If you are looking to clean your grout, use an old toothbrush. This is the ideal size to allow you to get into the gaps, and leave your bathroom looking fantastic.

If you’re looking to sell your home, Williams of Petersfield is here to help. We can provide you with a property valuation, and all other services, so contact us today.

A Shocking Reason Your Home May Not Be Selling

If your home isn’t selling, but other homes in the area are, you want to know the reason why. You and your agent should be able to review the market and come up with ideas why your home isn’t selling. There may be an issue with the local area, there may be a lot of houses for sale in the market, or there may not be a significant number of buyers. It may even be that your home is priced too high.

However, if it isn’t any of these reasons, you may feel as though there isn’t any reason why your home isn’t selling. Of course, there may be a shocking and surprising reason your home isn’t selling or generating interest.

Your home may be too cheap

You would think if your home had a low value, you would have a lot of interest. Savvy buyers seeking a bargain would surely see your home as the ideal option when it comes to affordability and value for money. However, this isn’t always the case, and you may find buyers ignore your property listing.

Don’t sell your home with a nine at the end, round up

Over the years, many industries have thrived with price tags ending in a 9. This style of pricing subconsciously makes people think they are getting a better deal. The reality is they may only save a penny or a pound, but the psychological difference may be enough to grab attention.

However, in the digital era, some of the benefits are lost. Buyers set price parameters starting and ending in 0’s, which means that your property price may lie outside the parameters, suitable customers. Equally, your cost will lie at the maximum of the parameter where it sits, so your home will come across as one of the more expensive for a buyer.

Get an accurate price for your home

The most important thing for you to do before pricing your home is to ensure it is appropriately valued. We offer this service, and our team will make sure you have an accurate and genuine price in place for your property.

It is essential to know the local average, but if your home isn’t comparable with the regional average, you shouldn’t use that as a barometer. If your home is more appealing than the average home, the average price lumps it in with many properties in your area. Buyers could be crying out for what you offer, but if the house seems the same as the rest, they may not give it the care and attention it deserves.

If you are looking to sell your home, you need support and guidance from local experts. We are pleased to say we have helped many vendors sell their home, and our team have skill and expertise in the psychology of sales. We will help you find the ideal price for your home, and we look forward to assisting you to sell your home soon.

Staging Your Home At Low Cost

Selling your home is often a challenging proposition. One issue that many people overlook is the cost of selling your home. There are many fees associated with selling your home, but you also have bills to pay when making your home look as appealing as possible.

You should look to stage your home to attract buyers. With an attractive home aimed at the most likely buyer, you significantly increase your chances of selling the property. However, some vendors are concerned about the cost of staging their home. At Williams of Petersfield, we are pleased to say we have helped many homeowners cut the cost of staging their home without compromising on quality.

We are pleased to help you stage your home at low cost.

Add a new coat of paint

While you don’t want to add garish colours or go overboard when it comes to rejuvenating a room, there is a lot to be said for adding a new coat of paint to a room or home. While you should be modest when it comes to your colour scheme, making a place feel less drab is a fantastic way to entice buyers and make the most of your home.

Add a sense of space

You should look to add space at your home because this is what buyers want to see. However, if you cannot physically add space, you need to make your home feel spacious. There are several simple tips you can follow here, but mirrors are extremely useful in transforming your home. A well-placed mirror makes a room seem more spacious, and it can make a room feel lighter too.

Also, make sure that you create space around windows. Minimise drapes and items blocking the window area. Not only will you allow more light to flood into a room, you develop a sense of space that is highly appealing to buyers.

You don’t need to buy furniture to stage your home

An essential part of the staging process is to present the room in a manner that appeals to the buyer. Therefore, it makes sense to have furniture that the likely buyer approves of. However, if you don’t own furniture that matches the needs or taste of a prospective buyer, you may be opposed to buying furniture to sell your home.

Thankfully, you don’t need to buy furniture for the staging process. If you have friends or family members who have this style of furniture, ask if you can borrow furniture from them for a short time. Also, some firms specialise in loaning furniture on a short-term basis. Installing these items in your home for a limited period helps you create a great impression, without spending a lot of money.

If you are looking to sell your house in Petersfield, get in touch. We aim to help you connect with buyers and by calling on Williams of Petersfield, you receive guidance from a local expert in the property market, so get in touch.

 

staging a home for sale

How To Choose Your Ideal Buyer

Even though there has been much pessimism regarding the property market in recent times, property deals still take place. We are pleased to say we have helped many vendors in Petersfield sell their home. If you are keen to sell your home in the Petersfield area, please get in touch, and we will be happy to assist you find your ideal buyer.

Given the demand for property, it is not uncommon for vendors to have multiple offers to consider. If you find yourself in this position, you need to evaluate your options. Naturally, many vendors believe the most significant offer is the most appealing option.

However, it may be the most substantial offer isn’t the best for your needs. On many occasions, the most extensive offer will be your best offer, but this isn’t always the case. If you want to know how to choose your ideal buyer, there is several things you need to consider.

Consider the terms of all offers when looking for your ideal buyer

There may be times when a smaller offer is more appealing. An example of this comes when you have a cash offer and an offer dependent on a mortgage. If the lease has only been agreed in principle, the cash offer may be far more attractive, even if it provides you with slightly less money. This would make the cash buyer your ideal buyer.

A mortgage agreed in principle isn’t a guaranteed mortgage, so it may not be on offer. Even if this mortgage does come to fruition, it may take several weeks for the lease to be made available. If you have a cash offer, you can proceed much more quickly, which appeals to many vendors.

If you need to move quickly or there is a deadline in place when it comes to selling your home, a cash deal makes more sense.

Is the buyer part of a chain?

Another thing to consider when evaluating offers is the status of the buyer. If the buyer is involved in a chain, this may hamper your ability to conclude the deal effectively. When people are involved in a property chain, there is a higher risk of deals collapsing, or at least being delayed.

If you receive an offer from a first-time buyer, their offer may be more appealing to you than a more substantial offer from a buyer involved in a chain. If you want to conclude quickly and reduce the level of stress you experience in selling your home, looking for a chain-free offer is a smart move.

Is the buyer motivated to move in?

If you are dealing with a motivated buyer, you should find the deal moves much more quickly. There is a great deal to be said for choosing an offer from a buyer who wants to conclude soon as opposed to someone who seems content to take things at a slower pace.

Don’t be afraid to speak with the prospective buyer and ask their opinion on the move, and what they want to achieve. This information may provide you with insight into whether this is the right buyer for you.

If you plan on selling your home, you need to have your home valued. We’re pleased to offer a valuation service, and whatever help you require in selling your home, we can provide it. When you want to sell your Petersfield house, contact Williams of Petersfield.

What Costs Do You Need To Cover When Selling Your Home

While most people are aware of buying your home is expensive, not as many people know the costs of selling your residence are also prohibitive. These costs need to be met at the same time, and if you don’t budget for them, you may create a significant gap in your finances.

At Williams of Petersfield, we are here to help you know what costs you need to cover when selling your home.

Energy performance certificates (EPC)

If you sell your home, you need to have an EPC for the property. You may already have an EPC. You should be aware that EPCs last for ten years, so if you have arranged an EPC in the past few years, you will be covered.

If you don’t have an EPC in place, you need one. The costs of an EPC vary, so make sure you shop around. The price can vary between £35 and £150, so there is a gap between what you might end up paying.

Estate agent costs for selling

If you use an estate agent to sell your home, and you should use an estate agent to sell your home, you need to pay for this service. Not all estate agents are the same; not all professionals charge the same price and not all agents charge you in the same manner.

selling home

It is believed the average estate agency fee in the UK is between 1% and 1.5% + VAT, but the cost can range between 0.75% and 2.5% + VAT. Most vendors use traditional High Street agents. While some people use online agents in the hope of lowering the cost of the service, online agents don’t always provide value for money.

Some online agents don’t offer all the services you need; other agents may not be of a good enough standard to promote your home. Some online agents provide an excellent service, but it is telling most vendors still use traditional estate agents.

Before you choose an estate agent, confirm the price is suitable, and make sure it provides you with value for money.

Conveyancing solicitor fees

You’ll also rack up conveyancing fees when selling your home, and this can be expensive. It is not uncommon for conveyancing solicitor fees to range between £550 and £1,000 + VAT. Similar to estate agent fees, not all conveyancing professionals offer the same service or standard of work. Before you commit to a conveyancing solicitor, research them and what they offer.

Try to find a well-recommended professional who you feel comfortable with using. If you are selling and buying, you may be able to obtain a discount for using the same professional for both conveyancing elements.

Other costs you need to pay include:

  • Removal costs
  • House cleaning costs
  • Redecorating costs
  • Mortgage exit fees
  • Stamp duty

With so many costs to consider, it is critical you budget for these aspects when selling your house. If you plan on selling your home and want assistance from a local professional, contact Williams of Petersfield, and we’ll be happy to help.