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Mortgage rates what is happening?

Mortgage rates: what is happening

The Bank of England opted to cut interest rates in February from 4.75 per cent to 4.5 per cent.

Base rate has been dropped by 0.75 percentage points since August when it was first cut from 5.25 per cent.

Between the start of July and October, the lowest five-year fixed rate mortgage fell from 4.28 per cent to 3.68 per cent. Meanwhile, the lowest two-year fix fell from 4.68 per cent to 3.84 per cent.

But the lowest rates are now higher at 4.13 per cent and 4.23 per cent, respectively, as rates have crept higher again with all of the best sub-4 per cent deals disappearing.

Nonetheless, mortgage rates remain well below their recent peak. 

In 2023, a combination of base rate hikes and worries over inflation figures saw average two-year fixed mortgage rates reach a high of 6.86 per cent in the summer, according to Moneyfacts, while five-year fixed rates hit 6.35 per cent. 

That said, mortgage rates still remain far higher than borrowers had enjoyed prior to the surge in 2022.

Roughly three years ago, the averages were hovering around 2.5 per cent for a five-year fix and 2.25 per cent for a two-year. 

In fact, as recently as October 2021, some of the lowest mortgage rates were under 1 per cent.

Will mortgage rates go down or up? 

Forecasts are tricky game at the best of times and interest rate expectations change regularly.

Mortgage borrowers on fixed rate deals should worry less about where the base rate is today, and more about where markets think it will go in the future. 

This is because banks tend to pre-empt base rate movements. Lenders change their fixed mortgage rates on the back of predictions about how high or low the base rate will ultimately go and how long it will stick there.

In 2023, forecasts for where the base rate would eventually peak fell from a high of 6.5 per cent to 5.25 per cent, mortgage rates shifted with this.

At the start of 2024, markets were pricing in six or seven base rate cuts, with investors betting on rates falling to 3.75 per cent or 3.5 per cent by Christmas.

And we now know how that ended up. Base rate ended the year at 4.75 per cent.  

Now, in 2025, markets are now suggesting that base rate will be cut two more times this year and fall to 4 per cent – but based on last year’s performance, these should all be taken with a pinch of salt.

Borrowers due to remortgage should stay on top of rate forecasts but also look to lock in some certainty as soon as they can. 

New fixes can be arranged through brokers around six months in advance, with the fees added to the loan and no upfront cost. There is no obligation to take the mortgage if rates fall – instead you could swap for a better deal –  but you will have it in your back pocket if you need it.

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Preparing your property

Once you have decided to put your property on the market and you have instructed your agent, you need to make sure you are ready for the marketing process. It is easy to think of the marketing process as just people visiting once or twice a week to have a look around and doing a quick tidy up before they arrive. To give you the best possible chance of success though, you need to take a more proactive approach and always be at the ready for viewings, even if they are at short notice.

First Impressions

You often get two opportunities to make a first impression. Firstly online and secondly in real life:

  • Online: This in part is about your choice of agent and how they market their properties online, both on their own websites and portals like Rightmove. It is also about being prepared for taking photographs and marketing details before the property goes live. Having images that show your property at its best will generate initial interest. It is important that you are telling a consistent story about your home and the photos should also match how the property presents itself in real life, so your potential buyers are not disappointed. Images should also be truthful and careful photography that conceals less desirable features won’t help you sell the property, as the potential buyer will see what’s there when they view.
  • In real life: The way your property is presented from the outside, call it curb-appeal, will set up the way a potential buyer feels about the property before they come in when they first view it. Many buyers will do a ‘drive by’ in advance to get a first look at the outside of the property beforehand and so maintaining a proactive approach to keeping things neat and tidy will make all the difference, even before the viewing.

Some of the things that you should consider are:

  • Keeping the garden tidy – especially in the autumn months
  • Washing down and painting front doors if they are looking tired
  • Cleaning the windows
  • Removing any dead plants and ideally replacing them with something fresh
  • If the bins live outside, tuck them away in a tidy corner, so they’re not the first thing you see
  • Clear out the weeds from the paths
  • If the front door mat is frayed and messy, replace it
  • If you have outside light, make sure that they are working and switched on for evening viewings
  • If you normally squeeze several cars on to your driveway, try parking around the corner to give your potential buyer space to pull in as if they already lived there
  • Plants and pots that frame the front door will make a welcoming entrance
  • If there is a communal hallway to your property, even though it may not be part of your home, tidy up abandoned flyers, post and newspapers etc

TIP: Talk to Mayhews estate agents about the type of buyer that might be interested in your home. They may be similar to you when you bought the property, so think about what they will be looking for in a property and focus on presenting the traits you think are most desirable.

Look at what other properties are available for your target buyer and consider what first impression those properties create online. If yours is better, it will be at the top of a buyer’s viewing list.

Mayhews have the option to upgrade a property to be a featured property on portals like rightmove, meaning the property will appear at the top of the page. Again, the first impression if you’re at the top of the page could make all the difference.

Presentation

The most successful viewing is when the potential buyer can see themselves living in the property and can also relate to the property as it is now. Some simple ways to improve the presentation of your property are:

  • Give rooms the right purpose: We don’t always use rooms for the purpose they were intended. We may use a dining room as a bedroom or a bedroom as a study. Some buyers find it hard to see beyond the current use of a room so, if you are marketing a room as a bedroom, it is best to set it up as a bedroom so you are showing them the purpose of the room, not just telling them what it could be.
  • Keep it tidy: Keeping your house clean and tidy for viewings will not only create the right impression but help buyers see beyond your contents.
  • Declutter: This is probably one of the most impactful things to do. Even if it means you rent some local storage during the marketing period, keeping the property free of unnecessary clutter will create a sense of space and a blank canvas for your buyer to more easily see themselves living there.
  • Let in light: Keeping curtains and blinds open and windows clean, will let in light and create a better sense of space. If you are going to be at home for a viewing, switch on the lights in the rooms before your buyer arrives.
    Set the temperature: If there are rooms in your home you rarely use and therefore rarely heat, switch on the radiators ahead of your viewing so the whole property is warm and welcoming.
  • Bathrooms and kitchens: Should always be clean, tidy and mould free. Try keeping just your essential toiletries and products in the bathroom and storing the rest to keep clutter at bay. In the kitchen keep the worktops as clear as possible, which will improve the sense of space.
  • Pets: Not everyone will love your pet as much as you do, so they are best kept out of sight. This is especially the case with enthusiastic dogs who may literally scare your buyer off.
  • Keep it simple: If you feel the need to re-decorate before marketing your property choose neutral colours that have a universal appeal.

Minor repairs: The little things add up and if there are simple repairs that you have been planning to do, get them done before putting your property on the market, it will give potential buyers few things to find wrong.

if you would like advice on how to prepare your home for sale give us a call and our experienced team can help and guide you.

www.mayhewestates.co.uk

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Changes to stamp duty will boost first time buyers

Upcoming changes to stamp duty will “motivate” first-time buyers to buy a property, according to the Halifax.

The average price of a UK home ended 2024 close to the £300,000 mark, said Chris Mayhew from Mayhews estate agents in East Grinstead and Horley.

The calculations suggested UK house prices increased by 3.3% when comparing the end of the year to the start, although the average value dipped slightly in December.

It means the average home now costs £297,166.

In April, house buyers in England and Northern Ireland will start paying stamp duty on properties over £125,000, instead of over £250,000 at the moment.

First-time buyers currently pay no stamp duty on homes up to £425,000, but this will drop to £300,000.

Affordability remains ‘a challenge’

The Halifax’s figures come a few days after rival lender, the Nationwide, said that the UK housing market had been resilient in 2024, with a 4.7% increase in prices at the end of the year compared with the start.

The two lenders use their own mortgage data, and have slightly differing criteria when calculating house prices, so the Nationwide puts the average property price at almost £270,000.

Both lenders do not include buyers who purchase homes with cash, or buy-to-let deals, in their estimates. Cash buyers account for about a third of housing sales.

The Halifax estimate of the average home now costing close to £300,000 will be met with dismay by many first-time buyers, but comes in the context of sharp differences in prices in different parts of the country.

However, Chris Mayhew director at Mayhews said stamp duty changes in April would give prospective first-time buyers “even greater motivation to get on the housing ladder and bring any home-buying plans forward”.

“Mortgage affordability will remain a challenge for many,” she said.

“However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well and, taking all this into account, we’re continuing to anticipate modest house price growth this year.”

Stamp duty will affect market

Housing experts expect sales to increase over the next few months, ahead of the stamp duty changes.

Alice Haine, analyst at Bestinvest, said: “This will deliver a particularly heavy hit to first-time buyers who will not only need to raise enough money for a deposit but also enough to cover the higher tax bill.”

The Bank of England governor Andrew Bailey recently said “the world is too uncertain” to make accurate predictions of when interest rates will fall, and by how much.

Have the upcoming changes to stamp duty motivated you to buy your first property? If so you can register your requirements here www.mayhewestates.co.uk

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The Hidden Perils of Overpricing Your East Grinstead Home

In the dynamic UK property market, understanding local trends is crucial, especially for those selling homes in East Grinstead, and the surrounding villages. While broader market trends are important, the local nuances of East Grinstead’s property landscape can significantly impact your home selling strategy.

The Importance of Correctly Pricing Your East Grinstead Home

Setting the right asking price for your East Grinstead home is more critical than ever. Overpricing can deter potential buyers, especially when they have a specific budget in mind. Homes priced above the market average for East Grinstead and its villages are likely to be overlooked in search results, leading to fewer viewings and interest.

An inflated price can also signal to buyers that you’re not serious about selling or open to negotiation. This can result in your property staying on the market longer than necessary, potentially leading to price reductions and a stigma attached to your listing.

The Impact of High Mortgage Rates and Regional Disparities

The current high mortgage rates are affecting buyer demand across the UK, including East Grinstead. This has led to a decrease in the number of properties sold. However, East Grinstead’s market shows resilience compared to other regions, with its unique appeal to buyers seeking village charm and proximity to London.

The Local Scene in East Grinstead

In East Grinstead, the property market has its unique dynamics. The area has seen an increase in properties coming onto the market, but with a slight drop in demand. This makes it even more crucial to price your home correctly to stand out in a competitive market.

The Future of East Grinstead’s Housing Market

While the immediate future may not show dramatic price growth, East Grinstead’s housing market is expected to remain stable. Factors like its desirable location, community appeal, and connectivity to larger cities make it an attractive area for a diverse range of buyers.

Conclusion

For sellers in East Grinstead and its surrounding villages, understanding these local and national trends is key to making informed decisions. While the market faces challenges, setting a realistic price aligned with local market conditions is essential for a successful sale.

Key Points

  1. Correct Pricing: Essential for attracting serious buyers in East Grinstead.
  2. Market Trends: Understanding local and national trends helps in making informed decisions.
  3. Buyer Demand: Influenced by high mortgage rates and regional appeal.
  4. Local Dynamics: Unique to East Grinstead’s property market.
  5. Future Outlook: Stability expected in East Grinstead’s housing market.

FAQ

  1. Why is correct pricing crucial in East Grinstead?
    Correct pricing ensures your property appeals to the right buyers and doesn’t linger on the market.
  2. How do high mortgage rates affect East Grinstead’s market?
    They reduce overall buyer demand, making competitive pricing more important.
  3. What makes East Grinstead attractive to buyers?
    Its village charm, proximity to London, and strong community appeal.
  4. What should sellers in East Grinstead focus on?
    Aligning their asking price with current market conditions and buyer expectations.
  5. Is now a good time to sell in East Grinstead?
    With the right pricing strategy, it can be an opportune time to sell.

To find out the current value of your home call our East Grinstead office on 01342 316 444 or click on the link https://mayhewestates.co.uk/arrange-valuation/

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Property market predictions for 2025

Mayhews 2025 Property Market Forecast

Nothing seems to stop the relentless march of property values, even with a stamp duty increase looming. It’s been a bumpy ride for the housing market in recent years, after Liz Truss’s disastrous mini budget of September 2022 created a surge in borrowing costs that have cost many households dearly.

But despite elevated mortgage and rent costs, the market last year has turned out to be “surprisingly resilient”, according to Nationwide building society. Experts had expected house prices to stay flat or fall, but average prices are expected to have risen by more than 3% in 2024, after falling by 1.4% in 2023.

Looking ahead to the new year, house prices are predicted to grow at a similar or slightly faster rate in 2025 – before accelerating to as much as 5.5% in 2026 – while record rent increases are likely to return to more normal levels, lenders and estate agents predict.

The for-sale market should get a boost as interest rates come down – albeit at a slower rate than was previously expected as inflation proves sticky – and people’s incomes could rise faster than house prices.

The average price of a UK home now nears £300,000 according to the lender Halifax, stretching affordability for many potential buyers. First-time buyers in particular have struggled to save up for a deposit after record rates of rental growth in recent years.

Forecasts from Nationwide, Halifax, Jones Lang LaSalle, Rightmove, Hometrack and Capital Economics range from 2% to 4% price growth in 2025. Activity in the housing market has been underpinned by strong wage growth – running at 5.2% in October 2024 – and slightly lower mortgage rates. The number of mortgages approved for house purchase each month rose above pre-pandemic levels towards the end of the year.

The Bank of England has cut interest rates twice this year, in August and November, to 4.75%. However, since Rachel Reeves’s autumn budget, economists and traders have scaled back their expectations for further rate cuts because the chancellor’s £40bn of tax rises are forecast to push inflation slightly higher than it would have otherwise been. That – coupled with sticky services inflation at 5% – limits the central bank’s scope to reduce borrowing costs.

Financial markets are expecting another two to three rate cuts in 2025, which would take Bank rate from 4.75% to potentially 4% by the end of the year. “Activity in the UK housing market is going to be holding up quite well, given the environment,” said Robert Gardner, Nationwide’s chief economist. “But we’ve got to be realistic about how much more it’s going to strengthen given those affordability barriers. They are likely to improve gradually in the period ahead.”

He added: “Lower interest rates will help, and income growth outpacing house price growth will also help. But it’s going to take time for that process to have much of an effect.”

Mortgage rates have edged higher in recent months but an increasing number of lenders have been able to make some reductions to fixed deal Mortgages. The average two-year fixed mortgage costs 5.46%, while the average five-year fix is at 5.23%.

Fixed mortgage deals below 4% that were on offer between late July and September have all but disappeared.

Sub-4% deals are important because it is a “psychological threshold”, said Tom Bill, head of UK residential research at the upmarket estate agent Knight Frank.

“We’re firmly back above 4% for anything that’s a two – or five-year fix, You have a certain amount of people that need to move because of schools and jobs. But when mortgages dip below 4%, you start to see more discretionary demand kick in, and that will be slower to come back.”

Lenders are likely to cut their mortgage rates in January to drum up business and “you may see the odd sub-4% mortgage even in the first six months, but I’m not sure you’re going to see that widespread choice of three-something-per-cent mortgages that we had late summer.” In addition, changes to stamp duty from 1 April are likely to generate volatility, property experts said, as buyers rush to complete before that date to avoid paying more as a result of a lower stamp duty threshold, and an extra band added into the stamp duty thresholds for second home purchases. So January to March should be busy, with a lull from April.

For tenants, 2025 should see private rental growth normalise, with average rent increases expected to fall sharply to 4% or lower. They rose by 9.1% across the UK in the 12 months to November, according to the ONS, and by 9.3% in England, a record high.

There had been an uptick in the number of available rental properties, and pointed to mounting financial pressure on tenants. “With average rents now close to 40% of incomes, many tenants are struggling to absorb further cost increases, despite rising wages. This has resulted in fewer people entering the market and more renters negotiating lower prices.”

However, some landlords may sell up, faced with the renters’ rights bill, reducing the number of properties on the market.

For expert advice on all things property contact Mayhews today….

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Property Market Update

Property Market Update for Surrey and Sussex – November 2024

Surrey:

House Prices:

  • The average house price in Surrey is £500,300, which is 70% higher than the national average for England and Wales
  • Detached houses have seen the most volatility, while flats and maisonettes have been more resilient

Sales Volume:

  • November 2024 recorded the worst sales volume on record for Surrey, with only 681 transactions
  • Epsom & Ewell had the strongest sales volume compared to last year, at 58% of the previous year’s figure

Market Trends:

  • House prices in Surrey have fallen short-term but have risen long-term
  • The base rate, currently at 5.25%, is expected to come down slightly in the coming months, potentially increasing buying power and house price growth

Sussex:

House Prices:

  • House prices in Sussex have remained relatively stable, with slight fluctuations depending on the area
  • The average house price in Sussex is slightly lower than in Surrey, reflecting its broader range of property types and locations

Sales Volume:

  • Similar to Surrey, Sussex has seen a decrease in sales volume, though not as pronounced
  • Coastal areas like Brighton and Hove continue to attract buyers, maintaining higher transaction levels compared to inland areas

Market Trends:

  • The market in Sussex is expected to see moderate growth heading into 2025, with a forecasted 4% house price increase
  • Rental demand remains high, particularly in more affordable areas, driving rental price growth

Overall, both Surrey and Sussex are experiencing a period of adjustment, with house prices stabilizing and sales volumes reflecting broader economic conditions. The anticipated reduction in the base rate could provide a boost to the market in the coming months.

For a more detailed look at the housing market trends click on the rightmove link below

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6 Simple steps to prepare your home for viewings

Realtor with house plan showing young couple around property for sale, above view

We know from experience that the better your home looks and feels when potential buyers come to view, the more likely you are to get an asking price offer.

For many people, the decision about whether to buy a home is an emotional one, and we’ve found that, more often than not, they make that decision very quickly. By the time buyers see your home in person, they already know the size, layout and location, and the photos have been enticing enough for them to book the viewing. So this step of the buying journey is mainly about them making sure that your home is as good in reality as it looks in the brochure, and that it feels like the right place for them to live.

Speak with your agent about how they can help.

You may already have your own thoughts about how your home should be presented for viewings, but it’s always worth speaking to your agent to get their input. We’re dealing with buyers and showing homes every day and can often suggest things that might not have occurred to you.

The best agents will have stylists on their team, who work together with a professional photographer to make sure that your home is shown in the most attractive light. Remember that these marketing photos are one of the key aspects that help to secure viewings, and that specific look is what your buyers will expect to see. So, while your home is listed for sale, the closer you can keep it looking to the images in your brochure, the better.

Nevertheless, no matter how neat and tidy you are, there are always those last-minute tweaks and little jobs that need doing before a viewing. So here’s our handy checklist of 6 simple steps to ensure your home is perfectly prepared to welcome what could be your dream buyer:

1. Make buyers feel great about your home before they even step through the front door

First impressions really do count, so think about how your home looks as buyers approach it. One thing that sellers often forget is to check how the ‘For Sale’ board looks – is it clean and straight? If there’s any damage, let your agent know right away and they can arrange for it to be replaced.

Try to ensure there’s somewhere for people to park their car, even if it means moving your own fifteen minutes before the viewing. Make sure the path to the front door is clear, the garden looks tidy and you have some welcoming potted plants at the entrance. Don’t forget the door itself – give it a wipe down, clean the handle and letterbox – and check that any outside lights are working properly.

2. Make the space shine

It’s really helpful if you can try to have the mindset that once your home is on the market, it’s no longer primarily ‘your’ home. You might have been used to leaving projects laid out across surfaces, having children’s toys and play equipment to hand and not worrying about keeping absolutely everything stored in its proper place. But buyers can often ask to view homes at quite short notice, so the cleaner and tidier you can keep each room, the less you’ll have to do at the last minute to get it ready for viewings.

If you can get used to living in a clutter-free way and manage to stay on top of the housework, then all you should need to do before potential buyers arrive is perhaps run the vacuum around and pop your teacup in the dishwasher!

3. Carry out a ‘fresh check’ on bathrooms

When it comes to bathrooms and toilets, your two watchwords are: ‘clean’ and ‘fresh’. As with the rest of your home, if you can make sure they sparkle on a daily basis, then you should only have three little things to do before a viewing:

  1. Drop some scented disinfectant in the toilet or spray a gentle air freshener
  2. Make sure the toilet lid is closed
  3. Put out fresh towels.

Tip: Keep a clean set of towels just for viewings, so that you can make a quick switch and then swap them back out once the viewing is over!

4. A little bit of styling can make all the difference

When you’re selling a home, you’re selling a lifestyle, so think about what little touches will help people feel good about the space and make them want to spend time there. Candles, flowers, high-end magazines and pretty soft furnishings work well in reception rooms and bedrooms, while a fruit bowl and some fresh herbs will add life to the kitchen.

Use your marketing photos as a reference, and try to keep all these styling accessories in your home so that they just need a quick ‘condition check’ before viewings.

5. Fresh baking really does work!

It may sound like a cliché, but the smell of home baking really does appeal to buyers. Our sense of smell has a strong association with memory and can be highly emotive, so some freshly baked bread or cake in the kitchen might evoke memories of a happy childhood, while a coconut scent in a reception room, bathroom or bedroom might remind people of being on holiday.

If you can fill your home with aromas that remind people of happy times in their lives, it will help them feel good about it – and they’ll be more likely to remember it in greater detail after they’ve left. Just remember that less is more, and if you’re going for a fragrance, make it subtle.

6. Pet patrol…

Your beloved pet might be regarded as a member of the family, but not everyone is going to be a fan and some people may be allergic. The ideal solution is to take your pet out of your home while the viewing is taking place, but if that’s not possible, try to keep it contained in one room, along with beds, litter trays, etc.

If relocating your pet is proving tricky, you could ask your agent to tell prospective buyers about it, then let you know if they have any concerns and you can discuss the best solution.

I am always here to help, so if you have any questions about viewings or would like some more advice on creating the best possible first impression on buyers, just call me on 07415872746 or email me on [email protected]. I look forward to hearing from you!

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How to add thousands to your home with our pro styling tips

Realtor with house plan showing young couple around property for sale, above view

One way to add value to your home is by renovating it; another is through increasing the amount of accommodation, by either building an extension or converting something like the loft or a garage to create an extra living room or bedroom.

But if you don’t want to undertake that kind of building work, or you’re not able to because of planning or available space, the good news is, there’s another way you can add value – without calling any contractors!

If you invest some time and can spend a little money simply on the presentation of your home, that can carry a huge amount of weight when it comes to securing a buyer and getting the best possible price. The power of first impressions is the reason we have stylists on our team that work with photographers to create the best possible images for our clients’ marketing brochures.

Research carried out last year by The International Association of Home Staging Professionals found that the majority of homes that had been professionally furnished and styled sold for between 4% and 20% more than the asking price. And we know ourselves that when buyers see a home that’s beautifully presented, showing off every room at its very best and suggesting an aspirational lifestyle, they’re much more likely to see its value and make a strong offer.

So, here are our top tips on how to style your home so that you add real value. Not only could that mean securing a higher sale price, but you’re also likely to sell much quicker than other comparable homes on the market that are missing that all-important styling touch.

Maximise light and space

The lighter, brighter and more spacious a home looks, the better buyers tend to feel about it. That’s partly a reaction to rooms appearing larger than they expected and partly because you’re showing them that there’s plenty of space to fit in everything they’ll need to enjoy the home.

The first thing to do is tidy and simplify each room so that the interior space can ‘breathe’. You can still have photographs, ornaments and books on display, but just a few of each placed around a room is enough to show some personality, while still allowing buyers to easily visualise their own possessions in the space. If you’d like some advice on what to keep out and what you should put away while your home’s on the market, just give us a call and our stylists will be happy to help.

Once you’ve created more physical space, it’s then a case of using some optical illusions. Well-placed mirrors can transform a home, bouncing light around and giving an impression of depth, which is particularly helpful in narrower rooms and hallways.

And think about the size and orientation of both mirrors and pictures. The human eye naturally scans vertically before horizontally, so wall hangings with a ‘portrait’ orientation will give the impression of more height in a room. It’s also generally true that larger pictures tend to make rooms feel bigger than if you have clusters of smaller ones. If you don’t already have any larger pieces of artwork, there are many companies that will print images on canvases in a variety of sizes, very cost-effectively. Look through your favourite photographs – something like a unique shot of an attractive landscape can make a stunning feature in a room.

You can also emphasise the size of a room by having something that immediately draws the buyer’s eye to the furthest point from the doorway. That could be a particular piece of furniture, a large plant or a striking piece of art – just something that catches their eye as soon as they walk in. The same trick can be used outside, so that people are immediately encouraged to look down the garden, whether that’s to a lovely seating area or a brightly-coloured shrub.

Furniture

Given that a home is often the most expensive purchase many people will make in their lives, you’ve got to show that every bit of space they’re paying for is valuable, which means furnishing and styling rooms so that they have a clear purpose.

We find one room that often falls into the trap of looking a little like wasted space is a conservatory. So, if you have one, style it clearly as a peaceful sitting room or a light and airy dining room. Another common challenge is the smallest bedroom. No matter how tight the space, it’s important to style it so it’s functional, so set it up as either a single room or a study. For buyers who work part-time from home or maybe run their own small business, an office space can be just as valuable as a third or fourth bedroom and can make them feel as though they’re getting more for their money.

And make sure you allow furniture to ‘breathe’. In an effort to create more space, some people make the mistake of pushing furniture into the edges and corners – particularly in bedrooms – when this actually has the opposite effect. Spacing the furniture out a little will let buyers see that there’s plenty of room for it to fit properly, without feeling cramped.

Add warmth and colour

While light, neutral décor is certainly attractive to buyers as a basic canvas for your home, make sure you then brighten it up and add some personality with soft furnishings.

Pick a colour scheme for each room and put a few textured cushions and throws on chairs and sofas. You can go for a touch of glamour with velvet or fur, but limit the number and variety of accessories, otherwise it can start to look confusing. The idea is to add a splash of colour and interest, while not intruding on the overall impression of light and space.

Rugs can add warmth to wood or tiled floors and tend to work well in larger rooms. Generally speaking, try to avoid breaking up the flow of the flooring in smaller rooms and keep the number of accessories in proportion with the size of the space. A good rule of thumb is no more than one cushion for every seat and a maximum of two items on any surface.

Finally, make sure you have plenty of lamps around your home. They cast a much more flattering light than overhead fittings and can make rooms feel warm and welcoming, even on a dull day. Don’t forget to have some lighting outside, if possible, particularly if you’re accepting viewings in the evenings. Some solar-powered lights throughout the garden can also create a pretty effect and help make a memorable impression on buyers.

Lifestyle touches

When you’re selling your home, you’re selling a lifestyle, and if you can show people that you enjoy the space in a way that also appeals to them, it’ll encourage them to picture themselves there. And the more ‘at home’ they feel, the more likely they are to make a great offer.

The key is to pick the kinds of accessories that you see in aspirational magazines and boutique hotels, that buyers can easily recognise and identify with. Candles are a really simple and effective way of creating a welcoming atmosphere and, although you don’t have to light them all, some softly-scented candles in the main reception room and bedroom can help buyers to feel relaxed and connect emotionally with the space.

Plants and fresh flowers bring life to a room, so go for a mixture of greenery and colour throughout your home. Peace lilies are easy to care for and look great anywhere, while orchids are perfect for coffee tables and in bedrooms. Hand-cut posies of flowers are great for period and rustic homes, while longer, more elegant stems suit a modern style – and don’t forget to have a few glossy magazines on display as well.

The kitchen is traditionally known as the heart of the home, so make sure it’s beating! Have a lovely big bowl of fruit and a vase of fresh flowers on the counter tops, and then put some fresh bread on a board or cake on a stand before viewings.

Finally, in the bathrooms, have some fresh toiletries on display that have recognisable, aspirational branding such as Molton Brown or L’Occitane. Remember to keep a full set aside that you don’t use every day, then they’ll always look fresh for viewings. Finish the look in the bathroom with some clean co-ordinated towels.

As with soft furnishings, the golden rule with all these lifestyle touches is not to have too many and to place them carefully.

While you may have to spend a bit of money on styling your home, it should only be a fraction of what you’ll get back in terms of pounds on your sale price, so it’s certainly well worth the small investment!

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The Chicken Or The Egg?

Paradox of the Chicken and the Egg

Probably the most common question I ever get asked is: 

Should I find a suitable house to buy and then put my house on the market or secure a buyer first then start looking?

So here’s the answer, and it’s very simple… 

Secure a buyer for your property FIRST (assuming you need to sell your current property to buy your next).

Hopefully you would have done your research by speaking to estate agents, browsing online and driving round some areas you wish to buy in before even deciding to sell.

You need to make sure your expectations are realistic and by all means start viewing some potentially suitable houses to make sure what you will want to buy is realistic for your need.

But, don’t get too emotional and try not to fall in love with a house until you have an offer on your property.

Why? I have listed just a few reasons below:

If you are ‘proceedable’ (i.e. are able to proceed with the purchase if your offer is accepted), the reality is you will be taken more seriously by the seller and the estate agent.

If you fall in love with a house (because buying a house is an emotional decision), and then put your house on the market, it is unlikely the person selling your dream home will take it off the market and wait for you to sell. This increases the chances of you losing the house which will always put you under more pressure to sell your own property which could result in you accepting a lesser price, not to mention increasing your stress levels!

With a buyer behind you, you are likely to be able to negotiate a better price rather than saying ‘I can pay X amount WHEN I have a buyer for my house and IF I get the price I am expecting’’

Until you have an offer on your property (whether you’ve accepted it or not) you don’t REALLY know how much money you have available to spend on your next house.

So remember, find a buyer and then find a house to buy!

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What do surgeons and selling your property have in common!

Serious surgeon in front of team
If you found out tomorrow you needed to have open heart surgery, what kind of questions would spring to mind?

Here’s what I’d be asking…

What’s the success rate?

What are the risks?

What’s the experience of the surgeon? Both in terms of qualifications and number procedures carried out?

And maybe a few more too.

We can all agree that the more experience someone has in doing something, the more successful they will be at it, right?

So, back to selling your property

In my 15 years selling property, I can count on 1 hand the number of times I’ve been asked questions like:

What are the risks? (by the way, there are many when embarking on moving house)

What’s your experience? (how long have you been an agent and how many sales have you handled?)

What’s your success rate? (both in terms of % of asking price achieved, days to secure a buyer and sale agreed to exchange success rate)

So why?

Why don’t people ask these questions when they’re clearly REALLY important when it comes to having a smooth, minimal stress, successful sale?

Many people ask what are your fees and how much can you get for my house… then choose either the highest valuation or lowest fees, or both.

Yet 75% of the population don’t trust estate agents… maybe that’s because 75% of the population choose the wrong estate because they aren’t choosing based on enough research or the right questions!

You can see what I’m getting at here right?  Smoothly handling property sales (and negotiating the best outcome for a client) requires skill, practice, expertise, commitment and experience. Not £900 and a login area to get your house on rightmove.co.uk.

The ONE thing I would like you to take from this if you are planning on moving house/sell a property… THINK! It might sound cheap, but what is the overall cost?