Property Special

2021 PROPERTY SPECIAL

The Pro’s Insider Top Tips on Moving House

Spring is the traditionally said to be the best time to sell your house - but if that’s going to be you in 2021, then right now is the time to start thinking about it.

January is the time when people start to browse for new property - Christmas is over, work’s in full swing, and this year there’s the glumness of lockdown to ward off with some online house shopping too.

The property market is still open - there are a few extra hurdles, but it’s still entirely possible to move. If you’re a 2021 seller, then now might be an excellent time to get your house on the market to get ahead of the Spring competition. But it’s a big decision - and even when you know it’s the right time there’s often a feeling of overwhelm. What should you do first? Where to begin? What do you really need to do to the house? When do you do the legal stuff?

Fear not - we’ve rounded up a group of the most experienced local experts to help with their top insider tips on how to move house with as little stress as possible...

In an ideal world, where all your clients sold their homes your way, what would be your tip tips to ensure a quick and easy sale? The simple things you just wish every homeowner would do?

1. The experts were unanimous in their first tip: prepare, prepare, prepare.

James McKillop, Head of Residential at Savills was very firm “First and foremost, prepare. Instruct a solicitor, prepare a draft contract pack and apply for searches, especially as they can take many weeks at present”. Susie Palin from Meyers agreed “Appoint a solicitor early in the process so they can begin their work as soon as possible, and have all documentation associated with the house in a file ready to go including any planning permissions, building regulations, safety certificates (Gas and Electric) and make your estate agent aware of any boundary issues that might rear their head during the ‘searches process’.

2. The second tip is the one we all know: Declutter!

“Do take the time to make sure that everything is spic and span and that the house looks great from the outside as this is where the first impressions will be formed.” Says Sarah Cull, Associate Director at Strutt & Parker. George Sparks, Local Sales Expert for Dorset at PurpleBricks agreed “you aren’t on the market every day so it’s worth putting in some effort to ensure it’s presented at its best.”

But don’t go mad says Richard Stubbart from Greenslade Taylor Hunt “To ensure any property is marketed to its full potential, we always ask clients to ensure the property is left in a presentable condition. This does not necessarily need to involve financial investment, but to make sure the decks are clear for first impressions.”

And on the flip side, what are your top three tips for anyone buying a house? 1. Perhaps unsurprisingly, unrealistic with their timescales. “Due to COVID there are we got a unanimous consensus Everyone is in the same boat restrictions and safety protocols on this one; George put it most wanting the same thing - to move in place for viewings. It is succinctly: “Be nice to the house. Remember that people’s important to carry out as much estate agent! lives are almost on hold when online research of a property they’re moving so its a good time before undertaking a viewing The agent may have other to be understanding.” in person. Google maps and properties of interest and it’s virtual tours are the best way to human nature that the first 2. Simon Neville-Jones, undertake initial research. “ person they are going to call is Branch Manager at Lodestone someone they enjoy talking to.” Property Shaftesbury said 3. Susie said it’s as simple as

you must be clear about what being ready.

Sarah also pointed out that you’re searching for: Have all monies ready; if a First “At Strutt & Parker we sell a “the number of rooms, outside Time Buyer, and you need a good deal of property ‘off the space, parking, work space... and mortgage, have your ‘ decision in market’ to strong buyers who of course a clear budget.” principal/agreement in principal’ are registered on our mailing list James suggested that doing ready before you look to buy and who we build a rapport with. your research is important - your next home and if you are Don’t just reply to the online but do stay open “road noise, selling your current home in presence for houses.” near neighbours etc can all be order to move, in this current CVidentified before you visit and it 19 climate, be prepared to need George also pointed out a little saves you a potentially wasted to be ‘proceedable’ before you patience goes a long way “Buying trip. If you have a “tick list”, be even start to look around. Ideally and selling homes can be positive; 7/10 is pretty good!” you’ll be ‘under offer’ already, stressful for everyone but more Richard points out that this is know your buyer and what the so if someone is inflexible and more important than ever chain is if any.

1. Sarah spoke for everyone when she said “We had a huge change to the property market in 2020.

From lockdown in March when the market came to halt, to lockdown lifting and enjoying an exceptionally busy market bucking all expectations. Local people looked to upsize, whilst many buyers flocked to the country from more urban locations in search of more space and less neighbours.“ George agreed “People know now they can work from home. Instead of living in an urban area close to the office why not live in the beautiful countryside and have your office in the comfort of your own home? Who wouldn’t want that?” Simon had some fascinating data to back it up “The annual price rise recorded in the South West of England in September 2020 was double the level seen in the region the previous month according to the Office of National Statistics. Dorset and Somerset were two of the most searched counties in the south according to Rightmove, and the Land Registry data shows that detached homes saw the biggest annual price rises in the UK.

2. James had a different issue with the rush to move

to the country: “The concern is the shortage of good houses to sell. It doesn’t matter if it is a £300,000 cottage, a £1,000,000 townhouse or a £2,000,000 country house – if it is a best in class property for its price, there are buyers registered for it “

What do you see 2021 bringing in terms of property market trends? 1. Once again there was a is due to end at the end of vaccine and of course the Stamp unanimous consensus. March, I believe there will still Duty Holiday.” “In 2020 the UK property market be strong demand for property James is confident though “My saw a huge shift in people in the west country.” agreed view is that if enough sellers moving to rural spaces as a Richard “This current lockdown bring their properties to market result of the pandemic.” Said will only fuel further lifestyle before March, we will see a Simon. moves, whether for for work or continuation of the busy market “...the trend to move out of family reasons. at all price points. The demand is the cities to a more rural there but price sensitivity is very environment will continue 2. The second unanimous clearly dictating what is selling apace, especially now with the point was… it’s en timely and what isn’t. If a property 3rd lockdown. We now all know unpredictable! doesn’t sell within a 4 to 6 week that remote working is possible George points out that “This is a window from launch at the and buyers are looking for a difficult one as there are a some moment, the price is probably much better quality of life.” many variables that are so new too high.” added Susie. to have to deal with, for example “Although the stamp duty holiday the length of lockdowns, the

Are there specifically desirable locations within the Blackmore Vale? 1. Sarah was pleased to looking for space and privacy, yet Andrew, Milton Abbas and the share that Strutt & Parker “... within easy reach of amenities. Winterbournes in particular” have had a very successful Those local villages with good time in Ashmore this year, with amenities, such as Yetminster, Simon said that “We’ve seen competing bids on two houses Milborne Port & Thornford are keen interest in villages including and a good sale agreed on achieving strong demand and Nether Compton, Sandford another delightful property. We excellent sales success” Orcas, Marnhull, the Donheads, also sold a substantial home Susie pointed out that “...houses Buckhorn Weston. Bruton led in Marnhull off-market with no with gardens and a value of the way, topping Rightmove’s internet advertising needed.” around £300k+ are selling well search list – the popular town

Richard agreed it was the currently. In my area also it is saw a 72% increase in buyer desirable villages which were the villages that are proving searches in 2020.” winning “Out of area buyers are most popular; Milborne St 22

Susie was keen to explain Meyers’ current rules on house viewings during the pandemic: “Personally I am being tested for CV-19 on a weekly basis so I can give reassurance to both my clients, and my family. We pre-qualify all viewers; they must be ‘proceedable’, and have signed a disclaimer to confirm they are well and have not been exposed to CV-19.

In addition to that, each viewing is booked in isolation to others. We only ever have one family in the house at any one time. No small children allowed (as they will want to touch things!) and we try to keep viewings to a maximum of 2 adults from the same household. Every person has their temperature taken before they enter the house, face masks are mandatory and everyone is briefed not to touch anything within the house. For the sellers part, they are asked to vacate the house as we do viewings, and to leave all internal doors open.

Richard had a final warning for 2021 viewers:

“Sell before you buy.

Due to Covid, agents and vendors are limiting viewing they’ll have a then drop the something’s POLITICS PROPERTY SPECIAL activity and only focusing on those prospects who are in a position to offer immediately.

Searching for a new home will always be exciting, and with the multitude of online property listings nowadays it can be tempting to search for your dream home when your current property is not yet on the market. It is important to not get carried away and fall in love with a house before you have a buyer, or you may lose out on the house of your dreams to someone with the funds already

I’m not selling - what about the rental market? Rachael Cook, a partner at Taylor easily, we usually suggest that wrong because it hasn’t been & Co Lettings in Shaftesbury had landlords try and get ahead snapped up by anyone else! some advice specifically for those of the game and ensure their in the rental market: properties are ready to go before Finally be realistic about you start viewings. There’s tenants. It’s a nerve-wracking “When it comes to rental nothing more off putting to to trust someone else with your property and ensuring you find potential tenants than a house property. However, the more the right tenant quickly and which isn’t clean or full of a restrictions you put on the type previous tenant’s belongings. of tenants, the longer it will take If they are able to find people who suit. Things to see it is fresh to be mindful of, are saying no and clean when children in a three bedroom they view it then house! much more It’s gearing up to be a busy year positive first in 2021 for the rental market. impression. With everyone working from Similarly, if it home there’s been a big surge is empty then of tenants moving after finding it’s a lot easier their current property no longer for them to see suits their needs. For similar where their own reraosns the South West has belongings can suddenly become an even more fit in! desirable place to live. And price the It’ll be interesting to see if this property right. results in a shortage of property If might be or whether the buy-to-let market tempting to will also surge. Research has try and ask for shown that buy-to-lets sales are little more but on the rise but we’re not sure if even if you this will meet the demand. price potential In short, if you’re looking to viewers can be invest in a buy-to-let then now is wary, perceiving the time! available.

The Finance Expert’s Eye On The 2021 Mortgage Market

The year ahead is uncertain but as you’ve just read, property experts are still predicting 2021 to be a strong year for the UK residential property market.

There is currently an unprecedented demand for moving house, leading to a record number of property transactions. Successive lockdowns have led many homebuyers and tenants to reassess their homes.

Spending more time at home in 2020 led people to look for more space and better internet connectivity. This, along with the stamp duty holiday approaching at the end of March 2021, is now fuelling further demand throughout the beginning of 2021.

Have you heard of the term

“the Granny bank”?

In the past decade it has become more and more common for homebuyers, and particularly First Time Buyers, to receive a contribution from parents or other family members towards the deposit on their first home. These are just two rising in popularity ways, alongside newly created Retirement Interest Only loans, and Lifetime Mortgages that people are using to buy property. Low rates of interest and a stamp duty window, make now the perfect time to act if you are contemplating moving, buying a holiday home or simply passing wealth down the family line and reducing the family potential inheritance tax liabilities.

The likelihood of the Bank of England increasing the base interest rate at least in the short term remains slim. This means mortgage rates should stay low which is making this an attractive time to purchase property. Even with the stamp duty holiday set to end in March 2021, investors are taking advantage of these competitive rates. Banks are gaining more confidence to lend, and this will continue to do so as more normality returns. This helps further increase the availability

“bank of Mum and Dad” or

of mortgages. This should be a good time to lock in lower mortgage rates and take advantage of subdued house prices. Interest rates and house prices are only likely to increase in the coming years.

So if you are thinking of buying or selling a property, then mortgage rates and availability of funds, together with advice on where best to access those funds will be an important factor.

Adrian Seager is Ward Goodman’s mortgage expert. He regularly reports on how the whole of the market is changing, something only your Independent Financial Adviser would do. If you want to speak to him, call him on 01202 875900.