First Time Buyers

Investment property is real estate property that has been purchased with the intention of earning a return on the investment, either through rental income, the future resale of the property or both.

Source: Investment Property – Investopedia

Buy-to-let is usually a secure source of income. We recommend it seldom to first-time investors in real estate looking for monthly income.

It can come to situations when rental costs are much higher then revenues and renting is not much of a solution for the investors. We found some indicators that can signalize this point in a buy-to-let property’s life.

Signs it’s time to sell your investment property

However, the good part is that an investment property rarely becomes a lose-business. When renting is not creating the profit wished for, you can always sell it for the right price.

Read more

When you step into a house there is naturally one room which buyers gravitate towards. The important question is, which room convinces you to buy? If you’re looking to sell your home it is useful to know which room to prioritise for open houses, images of the property or facts about your home.

Read more in this article on guildproperty.co.uk:

Which room convinces you to buy?

Photo souce: https://bit.ly/2McAlVL

Read more

Are you looking to improve the value of your property before selling? Most likely you are thinking about one (or more) of the following:

Photo source: Wikimedia https://bit.ly/2Ak55ib

-> interior redecoration

-> installing a fitted kitchen

-> floors replacement

-> a new bathroom

-> redesigning the garden

-> new double glazed windows

Or, at least, these are some of the changes you should be thinking about when creating your budget.

But did you ever think about deciding on what to improve by calculating exactly how much extra money they will bring?!

For example, the new flooring throughout might cost you £2,200, but it won’t add any profit in terms of property value.

Check out these calculations on Property Reporter before going under construction!

What are the property improvements that give the best and worst returns?

Read more

Photo source: Pixabay
http://bit.ly/2oOyurQ

Measurements to improve affordability for UK houses could include a price freeze for the next five years. This is the main suggestion made by think tank IPPR, the Institute for Public Policy Research, to the Bank of England.

Think tank urges government to introduce five-year house price freeze

The reason is logical and the phenomenon has been happening visibly on the house market lately: easy lending options (offered by banks) influence the house prices. Prices rise and potential buyers need more money… lent from banks. This is a cycle that will keep on repeating itself. Unless the Treasury decides to stop prices from rising.

However, these measures will have a big impact on every potential buyer, but especially on first-time buyers. Details on the article on Property Reporter.

Read more

Photo source: https://bit.ly/2tupISG

When you put your property on the market, it’s important that you do everything you can to make sure it looks as aesthetically pleasing as it can be. Here are some of the ten biggest turn offs for potential buyers or renters when they look at a property.

Damp

A whopping 70% of people stated they’d be turned off at the sight of damp patches or stained walls. This is often due to how expensive it can be to fix and can also indicate further issues within the property, like a leaking gutter or roof.

Property in poor state of repair

Next was a property that’s in a poor state of repair. This isn’t a surprising one since repairs can get very expensive quickly and are often time consuming.

No garden

It appears that 57% of people consider a garden a deal breaker. Despite the inconsistent UK weather, many buyers are always after the opportunity at least to plant some flowers and grow vegetables.

Bad smells

Many homebuyers appear to be turned off by poor smelling homes, which shouldn’t surprise many. Examples could be smells caused by pets, food and cigarettes.

No space for parking

Over half of homebuyers stated that parking was another deal breaker when selecting a new home.

Poorly lit rooms

54% of people were put off by poor lighting; hardly anyone wants to come home in the summer to a house where the lights still need to be turned on, so it’s important to keep your home properly lit so it feels welcoming to viewers.

Unfinished works

About 54% of individuals stated that unfinished building work was off-putting when it came to buying a house. Viewing a house that looks like a building site isn’t very appealing and neither is the thought of buying one.

Small rooms

51% of homebuyers said a home with small rooms was a turn-off. This is probably because of the increasing popularity of open plan areas. Small spaces are often advertised as ‘cosy’ but it appears many homebuyers aren’t looking for this.

Small kitchens

It seems 44% of individuals would be put off by a property with a small kitchen. A kitchen is the hub of many homes and if there isn’t enough space for wining and dining guests it often won’t be considered.

Poor DIY

Good intentions aside, bad DIY is off-putting to 43% of homebuyers. An unfinished curtain rail or skirting board can look tatty and gives off the feeling that the property isn’t care for. When the time comes to conduct viewings, we suggest just putting the tools down.

Read more

Photo source: Wikimedia https://bit.ly/2JmFN7c

Buyers on the property market have incomes ranging from small to… pretty big. No matter the amout of money the earn each month, they shouldn’t be deprived of their desire to have a home.

However, low earners must look for the most affordable options when it comes to city home. Or, the most affordable city…?

Latest research names Glasgow as the best option for low earners. It is the most affordable city in the UK, according to reallymoving.com, and it is followed by Manchester.

More details about who enters the low earns category and the UK cities’ ranking in this article on Property Reporter:

Where is the most affordable city in the UK for low earners to buy a home?

London and Birmingham are together named the most un-affordable in the UK.

The research is based on a comparison between average house prices and the typical earnings.

But don’t be put of by this ranking. There are still great sales or lettings on the property market in London. Just keep your eyes open!

Read more

Unless you’re an experienced renter, moving can actually get you in a spot of bother unless you follow the correct protocol. A wrong move can result in unexpected fees, fines and even a driving penalty. Here’s our checklist to help you avoid the worst when moving out of a rental flat.

Photo source: https://bit.ly/2HBT7iT

Inform the right people

There is a long list of institutions to tell that you’re moving, including your employer, your bank, your credit card providers, utility providers and the council.

And then there’s the DVLA, which can often be the forgetful one. Whilst you’re not changing cars, you are changing address, so if you get an unfortunate driving offence, the DVLA will write to your old address and if they don’t get receive a timely response, it can get bad quickly.

Change your postal address

It may be worth investing in the mail redirection service from Royal Mail – charges begin from £33.99 for three months and it takes just 5 days to organise. You can apply online or at your local post office from 3 months before to 6 months after you move.

Don’t forget to clean

According to the Deposit Protection Scheme (DPS), poor cleaning makes up over half the deductions from tenants’ deposits.

The best way to avoid this from happening is to pay for a good end-of-tenancy clean. This may even be a requirement in your contract so be sure to double check.

And when they’ve finished, take plenty of clear photos of their work so if issues do arise, it’ll be easier to dispute it with the cleaning company instead of letting it affect your deposit. If you can, send the same photos to your landlord. Remember that your aim is to return the flat how you found it.

Worried about being charged for pre-existing issues? Resend your check-in photos to your landlord to remind them of the properties condition when you first moved in.

Know about wear and tear

Landlords aren’t allowed to subtract money for ‘reasonable wear and tear’. Examples include worn carpeting, loose wallpaper and faded curtains or drapes.

Also, if you’ve lived in a property for several years, the landlord should expect the property to be more worn than one that’s been occupied for a short period of time (six months and under).

Read more