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 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.

Freshen Your Home With These Houseplants

Whether you are looking to sell your home, and you wish to make the best impression, or you want to enjoy your home as much as you can, there are some extra touches you can add. There is a great deal to be said for adding vitality and life to your property, and you can freshen your home with these houseplants.

You don’t need to be overtly green-fingered to manage and maintain these plants, many of them look great from the moment you place them in a pot. As long as you remember to douse them with water every so often, you benefit from a brighter atmosphere that can even clean the air in your room.

With homeplants you can add some aloe vera to your home

If you are looking for a cool plant, you cannot find a better option than aloe vera. This style of plant is well known for healing properties and the colourless jelly that lies inside it. However, if you are looking for an attractive plant that is easy to care for, this is the sort of affordable houseplant that helps transform your home.

Get to the point with a cactus

If you want to have a plant in your home, but the thought of caring for it puts you off, a cactus may be the ideal addition to your home. The desert cactus doesn’t need much water to survive, and your living room is likely to be a much more comfortable environment than a dry and dusty desert.

You’ll find cacti come in all manner of shapes and sizes, so if you’re looking for a fantastic addition to your home, which helps you deal with prickly characters, this is an excellent choice.

freshen your home

Jump on the zeitgeist with avocado

Avocado is very much in these days. If you thought this shade was only for bathrooms from the 1970s, you have missed the boat in recent years. Millennials and hipsters have taken to avocado in a big way, and you can grow your plant from an avocado pit.

This can take some time, but if you are prepared to put in the time and effort, you can bless your home with an avocado tree.

A rubber plant adds some colour

You don’t need to opt for a green houseplant. If you want something different in your home, or you need something else to match with the colour scheme, why not consider the chameleon benefits of a rubber plant. Yes, in low light, rubber plants have a green appearance, but when you place them in an area that benefits from a lot of light, the leaves take on a deep burgundy colour.

This is a fantastic looking plant that makes your home stand out for all the right reasons.

Herbs are a fantastic addition

If you want to be resourceful, why not add a plant that allows you to be creative in the kitchen. Herbs are an excellent ingredient to have on hand, and you cultivate an indoor herb garden at home with ease.

No matter what your property aims and ambitions are, Williams of Petersfield is on hand to help you make the most of your time and home, whether you add some houseplants or not!

if you would like to contact us to see how we can help you with your next property move, please click here.

Tips To Get The Best Price For Your Home

If you are going to sell your home, you may as well get the best price for it. The higher the price you sell your home for, the more options you will have with your next move. Also, when you sell your home for a great price, you can take a sense of pride and achievement from your efforts. If you like to get one over your neighbours, what better way to leave for a new home than by selling your former home for an excellent price?

At Williams of Petersfield, we are here to help you get the best price for your home, regardless of what motivates you. We are pleased to say we have helped many homeowners achieve a fantastic price for their home and we look to help you.

Make sure you value your home appropriately

An essential starting point when selling your home is to have it evaluated. If you don’t have a valuation for your home, you run the risk of making a grave error in pricing your property.

If the price of your home is too low, you will generate interest, but you will lose out on some money. If the cost of your home is too high, you may not create any interest at all in your home. Also, some vendors have found that starting high while planning to reduce the price if you don’t generate interest is not a sensible strategy.

Buyers are savvy, and a falling house price doesn’t necessarily say the house is a bargain to them, it indicates the house has a problem. This price reduction may not entice many buyers, and this means you may struggle to sell your home even with a lower price tag.

Therefore, vendors must price their home accordingly, and a proper valuation is the starting point. Hiring a professional to review your home and provide you with an analysis of its merits and worth, you have information that can be used to make an informed decision.

Know all the factors that influence what buyers are willing to pay for a home

However, the price you should charge for your home isn’t solely about the value. Other factors influence what buyers are willing to pay for your home. The overall level of demand for homes in your area and the number of homes on the market shape buyer behaviour. It doesn’t matter if your home is in excellent condition, market conditions and forces may reduce the price you can set when selling your home.

UK first time buyers

While there are many steps involved with selling your home, including offering a clean and decluttered home, it is hard to argue against the importance of the fee you set for a home. Buyers have search parameters when they view houses online, and if your home isn’t within these search terms, buyers will not find your home.

At Williams of Petersfield, we know the local market. This knowledge ensures we can help you set the right price for your home. We will also help you to reach out to buyers effectively, so if you want to sell your home, contact the Petersfield experts.

Petersfield Homeowners Looking To Sell By Christmas? Act Now

Christmas is still a long way away and hopefully you aren’t having to spend too much time thinking about it. There will be some people with a lot of things to arrange who like to plan as early as possible but for most of us, the start of September is not a time to worry about the festive season. It is not even a time to be worried about Halloween. However, if you are a Petersfield homeowner who would like to sell your home by Christmas, it is best that you make plans as soon as possible.

The main reason you should start making plans is that the average length of time for a property sale, from the moment an offer is accepted to the moving date is 13 weeks. At the beginning of September, there is only 17 weeks to Christmas. This doesn’t give you much time to get everything sorted and even the best property moves are likely to experience a blip or two. At Williams of Petersfield, we are pleased to say that we are property market experts and we have helped many Petersfield residents sell their home. However, even we have experienced some challenging matters when selling property and we recommend having as much time as possible.

Households want to be ready for a fun Christmas

ChristmasIt is understandable that households will have a deadline for selling their home. Christmas is an event that draws people together and there is a great deal to be said for having the family together at that time of year. No one wants to celebrate Christmas in a home filled with moving boxes or in a house with no decorations up because you are keeping the property clear to welcome prospective buyers.

It is common that homeowners start with a date they want to have moved by and then work backwards to start the selling process. We have helped many clients work in this matter. Issues like school holidays, job issues and significant dates for people have all shaped the moving process but it would be fair to say that the festive period has influenced many decisions in the property market.

Has Christmas planning impacted on asking prices?

Some industry experts have cited the impending festive deadline as a reason why asking prices has dipped across the country. There is still a notable gap between sales prices and asking prices in the UK but in the past month, asking prices have been lowered. Even though there are many influencing factors to consider, it has been noted that a desire to have a property deal concluded in time for Christmas may have shaped the thoughts of some sellers and the asking price they have been happy to set.

At Williams of Petersfield, we are on hand to help you sell your home in an effective and efficient manner, no matter the time of year. If thoughts of Christmas impact on your plans, come and speak to us and we will do what we can to help you sell your home.

Gap Between Asking Price And Sales Price Hits 45%

There has been some discussion in the property market of late about the need to manage expectations when selling property. A lot of this is down to the fact that the asking price have been rising sharply while sales prices are coming in at a much lower level. Continue reading “Gap Between Asking Price And Sales Price Hits 45%”