|
Pygott & Crone Newsletter: Latest Property Market Updates
In this months edition of the Pygott & Crone newsletter, we start by sharing with you our top tips on being ready to sell so you can bring your property to the market successfully.
Have you ever thought about buying a second property? Make sure you're prepared by asking yourself some of these key initial questions.
Further, into our newsletter, we're pleased to say the lettings market is continuing to boom, find out what it means if you're a landlord.
Finally, could shared ownership be the answer for you? Our easy guide will help you decide whether it's the right option!
We hope you enjoy this months edition! If you have any property queries please do not hesitate to contact us.
Multiple gold awards won at the annual negotiator awards
We are delighted to announce that a very successful year for us has been recognised at the annual Negotiator Awards, the property event of the year. We were shortlisted in four categories and are delighted to have achieved three gold awards.
Click here to read Multiple gold awards won at the annual negotiator awards .
Aladdin
From now until Sunday 19 January
Performances at the Riverhead Theatre
Click here to read Aladdin.
Toy Collectors Fair
Sunday 26 January
Family friendly jam packed Toy collectors fair at the Epic Centre
Click here to read Toy Collectors Fair.
Dog Friendly Day
Saturday 8 February
Unlock 1,000 years of history with your furry companion at Lincoln Castle
Click here to read Dog Friendly Day.
Preparing your property for sale
With demand for property prior to lockdown soaring, there are sure to be plenty of motivated buyers waiting now that the property market restrictions are relaxed, therefore now is an ideal time to prepare your property for a quick sale.
Kerb appeal
As is always the case with selling properties, a first impression can make or break a sale with a poorly presented property often putting off buyers before they have even set foot in the home. In the summer this is especially important as buyers will often drive or walk past a property before they decide to book a viewing. With the summer sun shining a light on any less-than-perfect parts of the exterior of your property, you should ensure that flowers are planted, weeds are pruned and lawns are mowed. Extra attention to details, such as ensuring that the front door has been cleaned and the windows are streak-free will pay dividends in your selling process.
Accessories
A neutral interior will appeal to a mass market and increase the scope of your property in terms of potential buyers, but if you are looking to make the most of the summer then don’t be afraid of colour. Using accessories to add pops of colour around your home that reflect the brighter summer season – such as burnt orange and lemon – will make your property stand out from the crowd in those all-important photographs.
Lights
When we think of summer, we all first think of sunshine and brighter evenings – so make the most of this light when presenting your home for sale. Get rid of heavy curtains and dark blinds, which can make a room feel smaller and prevent the light from entering a room. Buyers want to feel that rooms are bright and spacious, so if at all possible have windows and doors open throughout the house to create a light, airy feeling (as well as bringing in those fresh summer scents).
Set dress
Set dressing refers to the arranging of a room or space in order to paint a picture of the kind of lifestyle which could be enjoyed in your property. Never is it more important to set dress your garden than throughout the summer months, with potential buyers wanting to know that they will be able to enjoy the outdoor space which your home provides. Tempt potential buyers by showing off your outdoor spaces with garden furniture, fire pits and barbecues.
Viewing times
During the summer months many people like to start work early and leave early in order to benefit from the longer evenings; make sure that you can accommodate as many viewings as possible by being flexible with your viewing times. Allowing people to view your home early in the morning, as well as in the afternoon will help bring more people through the door as well as showing off your property in favourable lighting.
How to make your own face mask
As the country enters the next stage of its strategy to ease the lockdown restrictions whilst preventing the spread of Coronavirus, the Government has issued new advice to the public on how to stay safe whilst in public spaces (such as shops and public transport). The Government has asked people to wear face masks to cover their nose and mouth where social distancing is not possible. This advice has been detailed in the Government Covid-19 recovery strategy, detailing its plans for lifting the UK out of lockdown; which can be viewed here.
To prevent any additional pressure to the NHS in obtaining crucial PPE supplies, the Government has issued instructions on how to make your own face mask at home, by simply using elastic bands and some cotton fabric or even just an old T-shirt. Your face mask should be worn so that you can breathe comfortably whilst covering your nose and mouth. You should sanitise or wash your hands before putting it on and taking it off, and you should wash your face mask regularly.
We share how to make your own face mask at home below*:
Making a face mask using an old T Shirt
You will need
• One old T-shirt that you no longer want
• Scissors
Method
Step 1: Cut a straight line across the width of the T-shirt (front and back) approximately 20cm from the bottom of the T-shirt.
Step 2: From a point 2cm below the top right-hand corner of the fabric, make a 15cm horizontal cut through both sides of the fabric that is parallel to the top of the rectangle.
Step 3: Cut down towards the bottom of the fabric until you reach approximately 2cm above the bottom edge. From here, make another 15cm cut that runs parallel to the bottom of the fabric to make a rectangle that can be discarded.
Step 4: To make the ties, cut open the edge of the 2 long strips of fabric. Unfold the main piece of fabric and place over the mouth and the nose. The 4 strips act as ties to hold the cloth face covering in place and should be tied behind the head and around the neck.
Making a face mask using a piece of cotton fabric
You will need
• two 25cm x 25cm squares of cotton fabric
• two 20cm pieces of elastic (or string or cloth strips)
• needle and thread
• scissors
Method
Step 1: Cut out two 25cm x 25cm squares of cotton fabric. Stack the 2 squares on top of each other.
Step 2: Fold over one side by 0.75cm and hem, then repeat on the opposite side. Make 2 channels by folding the double layer of fabric over 1.5cm along each side and stitching this down.
Step 3: Run a 20cm length of elastic (or string or cloth strip) through the wider hem on each side of the face covering. These will be the ear loops. Use a large needle to thread it through. Tie the ends tightly.
If you only have string, you can make the ties longer and tie the covering behind your head.
Step 4: Gently pull on the elastic so that the knots are tucked inside the hem. Gather the sides of the covering on the elastic and adjust so the covering fits your face. Then securely stitch the elastic in place to keep it from slipping. These elastic loops fit over the ears.*Our step by step guides have been taken from the Gov.uk website here
How to make your own face mask
As the country enters the next stage of its strategy to ease the lockdown restrictions whilst preventing the spread of Coronavirus, the Government has issued new advice to the public on how to stay safe whilst in public spaces (such as shops and pubic transport). The Government has asked people to wear face masks to cover their nose and mouth where social distancing is not possible. This advice has been detailed in the Government Covid-19 recovery strategy, detailing its plans for lifting the UK out of lockdown; which can be viewed here.
To prevent any additional pressure to the NHS in obtaining crucial PPE supplies, the Government has issued instructions on how to make your own face mask at home, by simply using elastic bands and some cotton fabric or even just an old T-shirt. Your face mask should be worn so that you can breathe comfortably whilst covering your nose and mouth. You should sanitise or wash your hands before putting it on and taking it off, and you should wash your face mask regularly.
We share how to make your own face mask at home below:
Making a face mask using an old T-shirt
You will need
- One old T-shirt that you no longer want
- Scissors
Method
Step 1: Cut a straight line across the width of the T-shirt (front and back) approximately 20cm from the bottom of the T-shirt.
Step 2: From a point 2cm below the top right-hand corner of the fabric, make a 15cm horizontal cut through both sides of the fabric that is parallel to the top of the rectangle.
Step 3: Cut down towards the bottom of the fabric until you reach approximately 2cm above the bottom edge. From here, make another 15cm cut that runs parallel to the bottom of the fabric to make a rectangle that can be discarded.
Step 4: To make the ties, cut open the edge of the 2 long strips of fabric. Unfold the main piece of fabric and place over the mouth and the nose. The 4 strips act as ties to hold the cloth face covering in place and should be tied behind the head and around the neck.
Making a face mask using a piece of cotton fabric
You will need
• two 25cm x 25cm squares of cotton fabric• two 20cm pieces of elastic (or string or cloth strips)• needle and thread• scissors
Method
Step 1: Cut out two 25cm x 25cm squares of cotton fabric. Stack the 2 squares on top of each other.
Step 2: Fold over one side by 0.75cm and hem, then repeat on the opposite side. Make 2 channels by folding the double layer of fabric over 1.5cm along each side and stitching this down.
Step 3: Run a 20cm length of elastic (or string or cloth strip) through the wider hem on each side of the face covering. These will be the ear loops. Use a large needle to thread it through. Tie the ends tightly.
If you only have string, you can make the ties longer and tie the covering behind your head.
Step 4: Gently pull on the elastic so that the knots are tucked inside the hem. Gather the sides of the covering on the elastic and adjust so the covering fits your face. Then securely stitch the elastic in place to keep it from slipping. These elastic loops fit over the ears.*Our step by step guides have been taken from the Gov.uk website here
Are you asking these key questions when you buy or sell?
A recent study has revealed the 'most dreaded' and unusual questions buyers have asked about a property before putting in an offer.
With a small minority asking whether the pets come included in the sale, it’s fair to say that not all of the responses are winners.
However, the report by Hillarys has shed light on just how many Brits lack proper preparation during the home buying process.
Up to two-thirds will not plan their questions ahead of a house viewing, meaning they are not getting the full value out of the experience, as well as potentially wasting an opportunity to find out all of the property’s pros and cons earlier on.
The most dreaded questions from buyers:
Has it dropped in value? 54%What local plans could affect us? 42%What’s the lowest price we could get it for? 33%Is the seller in a chain? 21% To help you make the most of your viewings the next time you decide to buy or sell, we thought we'd share practical suggestions for you to consider. What are some of the more serious questions you should be asking?Whether you're instructing an agent or viewing a property, how prepared you are will determine how quickly you're able to move.Are you asking these key questions:1. Exactly what is included in the sale? Whilst it's safe to assume most sellers will want to keep their pets, it's important to outline what content might be included, such as fixtures, fittings and garden furniture.2. How long has it been on the market and how many offers have they received so far?3. When are the sellers looking to move out? Knowing whether they've already found another home or they're still in the midst of looking will help you to determine how long the process may take and how much room for uncertainty there is.4. Have there been recent renovations or any difficulties with boilers, drains and guttering?5. How did the agent decide on an asking price? Good agents will be able to provide justifications for the value of a property, so you'll know whether it's listed at the right amount or if it's overpriced. What to ask when selling:1. How will you market my property? Are they regularly contacting a database of suitable applicants to give you greater market exposure, or does their strategy start and end with a basic Rightmove listing?2. What are your success metrics and how do they compare to other agents? In other words, what's their experience selling a home like yours at a price like yours?3. How much will you charge? Choosing the agent who offers the lowest fees won't guarantee you reach asking price and you may lose time and money on the market, be savvy when you instruct representation for your property investments.4. What are the contract terms? Before beginning any contractual relationship, know exactly what it is you should expect from them.If you're thinking of selling and want to find out the value of your home, contact us.
Market your house correctly for a speedy, seasonal sale
The property market has continued to experience remarkable levels of activity.
In the first week of August, properties at SSTC (Sold Subject to Contract) were almost at double their number compared to figures from the same period in 2019. This indicates a significant release of pent-up demand due to lockdown.
If you, like a lot of homeowners right now, are considering putting your property on the market, here are some of the ways to market your house well to potential buyers.
Make sure your property images are professional
In order to get viewings, you need to reel them in with your property advert.
Make sure your photos are clear and focused. If it is a cloudy day, see if you can rearrange the shoot. There is nothing nicer than a clear blue sky!
Increase your kerb appeal
It takes just seven seconds for somebody to make their first impression of your property, so make sure your property’s exterior is the best it can be. You want them to walk down the drive feeling impressed and excited to go inside.
Some easy ways to do this is to give your front door or fencing a fresh lick of paint, put up some hanging baskets to add colour, pull out any weeds, move the bins out of sight and make sure the lawn is mowed.
De-clutter
The hallway is famous for housing plenty of clutter: shoes, coats, handbags. Make sure everything that can be put away is tucked out of sight to make it appear more spacious.
As some hallways can be dark and narrow, adding a mirror to a wall can give the illusion of space and can also brighten it up.
A kitchen is a big selling point, so make sure all desktops are wiped down and free of clutter.
Give your viewers space
Let your viewers freely wander around your home with the agent.
This will make them feel much more comfortable asking questions and it also means they might take their time in each room.
Be ready to answer any questions after the viewing. Also be sure to leave hand sanitiser dotted around your property, so not only you but also your viewers will feel comfortable.
Make the most of outdoor space
Since lockdown, we have noticed a real shift in property priorities.
Everybody is putting outdoor space at the top of their agendas, so make sure your garden is well showcased.
If this is an impromptu house viewing, you might not have time to lay a new flower bed, but make sure the lawn is freshly mown, trees and shrubs are cut back to create more space, weeds are removed, and outside furniture is laid out nicely.
From your oven to your bathroom, if you love to take pride in your home, you’ll want to know all the cleaning tricks and hacks to keep your home sparkling for a fraction of the cost.
Plenty of natural, cheap and quick cleaning tips from tin foil to vinegar and lemons can be used to save you time and money, making it even easier when you need to prepare your property for guests or even potential viewers who are interested in making an offer.
Cleaning tips for bathrooms
Tip number 1
Clean your bath with a grapefruit!
Get rid of water marks or stains in your bathtub by cutting a grapefruit in half, sprinkle on some rock salt and give it a good scrub, then rinse.
Tip number 2
Removing limescale from your shower using vinegar.
If you’re looking for a more natural way to clean your home from top to bottom, vinegar is your new best friend!
Soak your shower head in a mixture of boiling water and vinegar to unclog any limescale easily.
Tip number 3
Use an old toothbrush for cleaning your bathroom.
Don’t throw away your old toothbrush as it can be very useful!
Give it a rinse in boiling water to get rid of any germs and use it to get into any nooks and crannies that your vacuum cleaner can’t reach. It’s especially handy for cleaning hard to reach areas like around the tap or drain.
Tip number 4
Clean your toilet stains with coke.
Get a grubby toilet back to sparkling white by pouring in a can of coke.
Let it sit in the bowl overnight, give it a good scrub with the brush and then flush the next morning for a new sparkling loo!
Tip number 5
Unclog drains with baking soda.
Pour down the drain one part baking soda followed by one part vinegar then cover with a wet cloth.
The two elements will react with one another to clean your drain naturally. Wait five minutes and then run some hot water to rinse.
Cleaning tips for kitchens
Tip number 6
Clean your chopping board with lemon.
Our chopping boards get a lot of use from meat joints to fruit and vegetables, so it’s no wonder they end up looking a bit tired and worn.
Lemons are great to lift stains as well as removing any smells. Still not shifting? Then try sprinkling some baking soda and repeat.
Tip number 7
Pop a lemon in your fridge.
Cut a lemon in half and put one on the top shelf and one on the bottom to mask any strong smells in your fridge.
Tip number 8
Remove limescale from your iron.
Keep your iron working well by removing excess limescale from time to time.
Simply heat up, unplug and let it cool. Fill with one part vinegar to one part water. Leave for an hour then empty and rinse.
Tip number 9
Use a pastry brush to clean crumbs out of your toaster.
Unplug your toaster and sweep those hard to reach crumbs and burnt bits with a pastry brush. This will help your toaster last longer.
Tip number 10
Clean your washing machine with vinegar.
Place the empty washing machine on a hot cycle with one cup of vinegar inside. This will help remove limescale and mildew, making the machine last longer and clean more efficiently, plus smell amazing!
Tip number 11
Use a fabric softener sheet to stop your bin smelling.
There’s nothing more frustrating after you’ve emptied the bin than to find a lingering smell. Pop a fabric softener sheet into it for an instant air freshener.
Tip number 12
Clean your oven with tin foil.
Pop some oven cleaner or fairy liquid to the oven and scrub the fat and grime away!
For more information on maintaining your property, talk to us today.
Five in-demand factors buyers are now looking for
Working and spending more time at home has caused significant changes to people’s property needs.
More than a quarter of the UK’s renters and homeowners (26%) have found that their property needs have changed since the outbreak of COVID-19.*
What are the key changes likely to stay on the priority list now restrictions are easing?
Gardens
Lockdown has caused a general desire for more space, meaning that many of us are seeking homes near public gardens or green areas.
Unsurprisingly, the demand for gardens has also increased by 74% worldwide, with UK buyers making it a top property feature to look out for.
Accessible Wi-Fi
Zoom and facetime have become the key to keeping in touch with loved ones, as well as playing an important role in remote working practices.
This means that having fast internet is essential for those looking to buy.
Natural lighting
Being confined to our homes throughout lockdown has given people a craving to create open, natural spaces inside.
Velux windows have increased in popularity due to the natural light and improved air quality they provide, whilst high ceilings also give a sense of greater space, and have seen higher search volumes of 15% over the pandemic.*
Home gyms
Lockdown has encouraged people to become more active in their spare time by taking up running and cycling where gyms have otherwise been forced to close.
Whilst sporting and leisure facilities have now opened up again, there's still a hesitancy from some previous members about when it is safe to return, making a home gym a staple feature of any home to attract attention from buyers.
Views
Having beautiful views is a big selling point, with balconies also increasingly more desirable now.
If you've been holding off on your next move, we'd like to extend our support. Contact us today.
*Wayhome
Top tips on being ready to sell
According to Rightmove, enquiries from buyers are up by 18% when compared to the same period last year.
If you decide to sell right now, you’re pretty much guaranteed to get high levels of interest following your market launch.
Here are our five top tips for selling your home in a busy market
Talk to the right people and stay informed
Whilst it’s easy to get caught up in the post-lockdown rush, remember that moving house is a big decision.
Make sure that selling is the right decision for you and that you have the best local advice to help you achieve the best deal possible.
Get certified
If you’ve made considerable renovations to your home, ensure you have the correct certifications.
If people are interested in your home, they will likely want to see them.
Check your property
If you’re selling a newly built or converted property, you must check it was built under a building standards indemnity scheme.
Lenders often won’t provide mortgages if newly built or converted properties are not covered by a warranty scheme or Professional Consultants Certificate (PCC).
This will be an issue if your buyers need a mortgage to buy your property.
We’d suggest getting in touch with someone that can provide you with a PCC, confirming that your new build has been constructed in accordance with the drawings and instructions provided by building control.
Carry out any minor repairs
Disrepair can seriously put off homebuyers.
The amount of work that needs doing to the property can impact how much interest you receive. Furthermore, doing any refurbishment before starting the selling process is always a good way to increase the market value of your property.
If there are any serious structural issues with your property, you should get them fixed before viewings begin.
Get in touch with a professional
If you want your home to sell quickly, always contact a professional.
We provide a bespoke selling service that is adapted to each individual property.
If you’re looking for a quick and easy sale, contact our team today.
Why is now the time to buy a second home?
After a year without the ability to socialise or travel, many Brits have been able to save a considerable sum, with savvy savers now wondering what to do with their sizeable nest eggs.
As many as 74% of millennials are more interested in the idea of investing following the pandemic,* with property remaining one of the key areas to see returns.
Before buying your second property, have you asked these key initial questions?
What's the purpose of this investment?
It's worth considering if you're wanting to pursue a high involvement strategy, flipping homes for profit, or you'd like to opt for a lower involvement and more long-term plan, such as letting or owning a holiday home.
Having an in-depth discussion with a local agent will help you to determine your financial position, as well as the plan most suited to your goals and interests.
The hidden costs of running your second home
As with all undertakings that require a financial and personal commitment, you need to make sure you have a thorough understanding of the responsibilities and costs.
When becoming a landlord or holiday home owner, you need to think about insurance and bills, as well as how you plan to manage and grow your rental income.
Likewise, flipping properties can come with considerable bills to pay if you make hasty decisions along the way, so you should have a budget that's realistic and practical.
Unoccupied insurance for a holiday home
As holiday homes are usually unoccupied for the majority of the year, you will find that a regular home insurance policy won’t cover you.
This is because serious damage like a break-in or burst pipe can only be minimised if there is someone in the property.
It’s important you are upfront with your insurer about how often you will be visiting your holiday home.
Am I insured if I rent my property out?
If you decided to rent out the property, you face extra risks.
However, for some, letting could be a big part of why they bought the property in the first place.
It would be recommended to speak with an insurance broker, as this will ensure you have full coverage as a landlord whether the property is being occupied by tenants or not.
For any help or advice when it comes to property, speak to us.
*Finder.com
Could shared ownership be the answer
This easy guide to shared ownership will help you decide if it’s the right option for you.
What is shared ownership?
Shared ownership schemes are run by councils, local housing associations and property developers.
If you buy with a shared ownership, you will own a percentage of your property for the amount you can afford, whilst paying rent on the remaining amount.
This gives you the opportunity to get on the ladder as an owner-occupier, benefiting from long-term stability but without overstretching yourself.
Purchasers are then able to buy more and more shares, in most cases, until they've reached 100% and are no longer required to pay any rent, just their mortgage.
What is a shared ownership mortgage?
There are affordable mortgage products for those wanting to buy into shared ownership, as the number of lenders accommodating this route to homeownership has increased.
You will also find that deposits are generally lower, as they will be based on the value of the share you're buying.
How is stamp duty applied to shared ownership?
Buyers can make a one-off payment when buying the property so that stamp duty won’t be added when buying further shares.
Alternatively, you can pay stamp duty tax in stages, initially on the value you own and then with further payments once you own 80% of the property.
Can I sell my shared ownership home?
You can sell your shares at any point, only with sole autonomy as the seller once you control the full 100% of the shares.
For more information on how to buy your first home, contact our team today.
It’s important to note that rules for shared ownership may vary across the UK.
Lettings market boom and what it means for landlords
The lettings market has had a record strong month, with reports of a decrease to the length of average void periods in most regions, as well as rising rents seen across the country.
In some parts, void periods have dropped by as much as 50% month-on-month, taking England's average from 22 to 16 days.*
How have rents changed for landlords?
After a year of uncertainty for landlords, with the eviction ban repeatedly extended, the news of rent growth in every region in June should signal a return of optimism for the market.
Certain areas saw an increase as high as 10%, whilst the average cost to rent a property in England now sits at £932.
In fact, average rents were higher this June than when compared to a pre-pandemic 2019.
Looking to take advantage of the increased rental demand? Here are our top tips on how to become a new landlord.
1) Understand your business
As with any new business venture, if you lay the right foundations, you have the potential to secure a comfortable financial future for yourself.
Most landlords only let one property, so it's important you know the local market and choose the best spot for your investment in terms of location, demand and opportunity.
2) Take the time to learn more about the legal requirements
There are a number of important regulations that a landlord must meet to protect their tenants, as well as themselves and their properties.
Taking the time to familiarise yourself with the sector will put you in good stead to build an established reputation letting in your area, which will ultimately help you to keep good tenants for longer.
3) Shop around for your buy-to-let mortgage
It’s important to find the right deal for you, which might mean considering a range of solutions before making a decision.
To get the best returns, you should speak with a trusted mortgage advisor who can point you in the right direction selecting your mortgage.
4) Decorate for a tenant, not for yourself
Just like when you're selling a property, you need to plan how to stage your rental property before listing it.
Whether you're wanting to let to families, students or working professionals, providing the right furnishings and neutral tones will create a blank canvas suited for future tenants interested in renting your property.
5) Who will be managing the day-to-day responsibilities?
This last step is what will really set your business in motion.
Choosing the right lettings agent is essential to protect your investments and safeguard your interests, as they'll be the liaison point for your tenants whilst overseeing all checks, changes and inspections.
To learn more about our property management service, contact us today.
*Property Reporter
Please vote for Pygott & Crone at the Heart Hero Awards!
Last winter Pygott & Crone organised a 100-kilometre run/walk challenge, involving over 250 people, raising £70,000 for the British Heart Foundation - the #BHF100K
Click here to read Please vote for Pygott & Crone at the Heart Hero Awards!.
<< News
|
|