AN ESSENTIAL MONTHLY PROPERTY GUIDE FOR ANYONE MOVING OUT OF LONDON – FROM TIMES LOCAL NEWSPAPERS
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Make that dream move become a reality You’ve done all the research into where you’d like to live outside the capital and found the perfect property. Eileen Leahy explains how you can now ensure that your move is as simple and stress-free as possible…
What’s in a name? According to a recent study by Lloyds Bank the 'Waitrose effect' can help add over £36,000 to a property price. It also found that living near any national supermarket may boost a home's value by around £22,000. Time to shop around?
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uying a home, especially if it’s the first time you are doing so can be enormously stressful and quite a minefield. Wading through all that paperwork and industry jargon, sourcing a good solicitor, ensuring your survey picks up everything you need it to so you don’t have any nasty surprises a few years down the line such as damp and area development issues – these are all par for the course. And it can be a very daunting experience – some people are put off moving because of the pressure it can cause. Luckily there is plenty of help out there and a good place to start is with some of the specialist industry organisations who can provide you with lots of practical, useful and – most importantly – free information on every aspect of navigating your way through the house selling and buying market. The HomeOwners Alliance (HOA) is one such organisation. It can provide the prospective buyer with sound step-by-step guides, handy tips and pointers on what to look out for when you make your way along that precarious chain.
HOT PROPERTY NEWS
Brexit needs builders Paula Higgins, chief executive, of the HomeOwners Alliance, offers some of her key advice: “Getting your finances in order should always be your first step when buying a home. When you’re applying for
‘MAKE SURE YOU TAKE CONTROL OF THE SITUATION AND STAY ON TOP OF THE PROCESS’ a mortgage you’ll need to be able to prove you can manage the repayments so as soon as you decide to start saving for a house, cut back on any unnecessary outgoings and make sure you’re managing any regular payments properly.” Once you have done this she suggests
that you need to work out how much you are able to spend on a property. “Don’t forget the variety of one-off and ongoing hidden costs of buying a home. These can put an extra 15% on the cost of your home – more if you are doing serious building or redecoration work.” Another pitfall to be wary of is the problems that can arise from third parties. “In an ideal world each part of the process would work like clockwork but as we all know, we don’t live in an ideal world,” continues Ms Higgins. “So make sure you take control of the situation and stay on top of the process. Choose your solicitor and your mortgage broker carefully.” See page 2 for more on moving home successfully >>
The British Property Federation has warned that government efforts to address the housing crisis will falter if strict post-Brexit immigration controls result in fewer construction workers coming to the UK. CEO Melanie Leech said: "Talent is a critical issue to sort and, in our sector, it's construction skills.”
Investors turn spotlight onto student housing Knight Frank estimates the UK purposebuilt undergraduate accommodation market to be worth £46bn with new developments this year expected to total a record £4.7bn.