In a recent article, I urged anyone venturing into the property market to appoint a solicitor as soon as possible and preferably before, so as to pre-empt any issues and ensure a speedy transaction. The same goes for property financing and this applies to both buyers and sellers.

Before one starts looking to buy a new home, it is of course important to know what budget you have at your disposal. Looking at houses that are beyond your realistic reach or leaves you too stretched may lead to disappointment. Living in a splendid mansion might not be such a great idea if you end up only being able to heat one room.

Indeed, there’s an argument to say that you should n’t view until you have a mortgage offer agreed in principle. Having one demonstrates that you have investigated your finances and gives a prospective vendor confidence that you are able to buy their home.

On the other hand you might be pleasantly surprised to find that you have more funding available than you thought and can afford a grander home than you had anticipated.

For straight forward information on the basic principles of the mortgage process and what’s involved, the different types of interest rates and repayment vehicles, as well as the costs to consider, get in touch with Rural View or click on the link for a free Consumer Guide to Mortgages.

For those sellers who are downsizing or disposing of a property altogether, what are you going to do with the surplus after the sale? Other than blowing it all in Las Vegas, thought needs to be given as to the most appropriate investments and whether this is to provide an income or capital growth. Alternatively if it is being given to family members, what’s the most efficient way of doing so and will there be any tax implications?

The World of finance can be a complex place even for the most experienced and savvy borrower or investor, so a good starting point is to seek the input of a financial adviser.

The days of having a chat with your local bank manager are just about over and it is generally considered best to talk to an independent expert who has access to the whole of the mortgage, investment, pension and insurance markets so as to be able to source the most attractive and appropriate financial products for your own personal circumstances.

I stress the word independent above. You might have been with the same building society, insurer etc. for years but are they are offering you the best rates or terms that are right for you? Is your current advisor tied to just one or a limited number of providers?

Rather like choosing the right solicitor or estate agent, it is important that your financial adviser instils in you a feeling of confidence and trust. When selecting one, check the range of financial products they deal with, their experience, independence and what fees you will have to pay.

Let us know if you would like the names of any local independent financial advisers or mortgage consultants.

Why you should considering selling your house now

It’s pretty cold out there and we just seem to be assaulted by one storm after the next. Isn’t that just one reason not to even think about moving house?
Of course we can come up with all sorts of excuses to batten down the hatches and stay put, but the reality is that if you have to move house, for whatever reason, then you should seriously consider selling now.

Here are some very good reasons why now is a good time to sell your house:

Lack of competition in the local housing market

There is currently the lowest number of available properties for many, many years. This means that there is far less competition to attract buyers than there would be in the spring, when we are likely to see more houses hitting the market. It also means that buyers may more readily pay what you are looking to achieve.

Buyers want to move to this area

We have plenty of frustrated buyers who would dearly love to hear about fresh properties in Wiltshire and Dorset. Not only is this a popular part of the world to move to, but there are also those who want to stay in the area and get on with the next stage in their lives. Whether they are upsizing or downsizing, moving from town into country or vice versa, we are in touch with them.

Speed – save time

You can beat the rush and save valuable time. In the summer months solicitors, surveyors and local authorities are often overloaded with work. The quieter months allow them to concentrate on less workload, however, and transactions can smooth through just that bit more quickly. For instance the last couple of summers saw Wiltshire local authority searches take up to a couple of months to be returned which often proved critical. At the moment this is more likely to be one or two weeks.

Timing

Putting your property on the market now should enable a move within the next three or four months which means that you will have the majority of the summer to enjoy getting to know your new home. It is a much more pleasant time to physically move, you will have the longer days and better weather (we hope!) to concentrate on any home improvements, and plenty of time to arrange schools for September.

Presentation

Your house can look as good now as it might in the summer months. Photographers are very clever beings and if you use a professional, as we do, then the best aspects of your property can be relayed with skill. True, they can’t conjure up green leafed trees and bounteous borders, but they can really help to sell an attractive lifestyle, which actually is what it is all about.

So the festivities are over, the cat has had the turkey and those of us who have relinquished the sofa will be fighting back to normality, having resolved to change our lives for the better.

The Christmas break is when families to come together and discussions at this time often concern what the forthcoming year might bring, including house moves. More elderly parents may be thinking of downsizing, or being gently pressed by their children to do so. Aspirational moves may be toyed with, and timescales will be mooted.

For motivated sellers, the most obvious time to put their property on the market would be the Spring, when bulbs are erupting, and the first hint of green is appearing on the trees. From now on the countryside will only get better until late May/early June when it is considered to be in its prime. But with everyone thinking similar thoughts the competition among properties for sale is often fierce.

The first few months of the year are, let’s face it, pretty depressing and all most of us want to do is hunker down, Moley and Ratty style until the first shoots start to appear. However there is a strong case, especially this year, for launching your property early.

Firstly, because of the late start to the market last year, many sales chains were not completed until the Autumn/early Winter, meaning that numbers of proceedable buyers emerged late in the day. Many of them are still around now, having negotiated delayed completions or decided to rent for six months. These are very motivated buyers, though, and they will be frustrated to have to wait several months before viewing fresh property again.

Secondly, more demand than supply will mean that an agreed sale on your house is more likely and you will be in a strong position to search confidently when the market truly kicks off.

Thirdly, improving conditions and market sentiment means that we can use the lack of competition as a more effective lever in achieving the best possible price for you.

The early bird is always there to catch the worm, but important consideration also has to be given to effective marketing. Presentation is key and waiting for external shots on a crisp winter’s morning is just as crucial as capturing those blue sky moments in the summer. Light filled interiors and blazing fires can be just as appealing as full trees and colourful beds.

So if conversations over Christmas touched on a house move this year, don’t dismiss jumping earlier than convention has always suggested, because this year especially you may just steal that valuable yard on those who wait.

The ideal way to put an estate agent in a dilemma at this time of year is to ask whether as a prospective rural house seller, you should put your home on the market now or to wait until the spring. The reason for the estate agent’s discomfort is that he is more than likely to be desperately short of properties to sell as the year nears its end and would very much welcome some fresh instructions but at the same time knowing that spring is the more usual time to be thinking of launching a sales campaign when the market is traditionally more active.

There are certainly disadvantages in trying to sell a house in December; one of the primary ones being that unless one had the forethought to take them back in the summer, it is more difficult to capture those essential flattering photographs with the low winter sun (when it deigns to appear) being available for only a short time and casting long shadows.

Gardens and the countryside are without doubt less colourful although they are not necessarily completely devoid of interest all together and on a bright winter’s day can be lovely. Frosty or snowbound shots are best avoided and like daffodil filled gardens in March, can date a photograph very quickly although a good estate agent will update seasonal shots at the earliest opportunity.

The other thing of course is that there are fewer buyers around at this time of year but for the seller, there is also less competition. Those purchasers that are hardy enough to venture out on a cold, dark blustery day and are prepared to ignore the distractions of Christmas shopping to go house hunting are often genuine, seriously motivated buyers. This year, certainly, we are seeing plenty of fresh viewers who have recently completed their chains and are keen to complete their rural move.

It is also true that some rural houses can appear positively gloomy in the depths of winter whilst others, once the lights are on, curtains drawn and fires lit, can be quite jolly and cosy. Therefore the age, style and orientation of a property can be quite influential as to whether they are likely to be winter sellers as can be their décor and furnishings.

The circumstances of some vendors, such as those who have found somewhere else to buy, an executors sale, the property is vacant or there is a job move involved means that there may be little choice as to when to market and there will also be some who will have a ‘let’s just get on with it’ attitude.

The counter arguments for waiting until March or April are perhaps more obvious. The spring is a warmer, greener and more upbeat time of the year and by convention is when both house buyers and sellers (most are both) come out of hibernation, leading to a spring ‘buzz’ and more activity.

With positive signs of improvement in the fortunes of the UK economy, there is a feeling that 2014 will see some growth in the housing sector but it is necessary to remain cautious as the continuing weakness of the Euro Zone could hold things back and a long, cold winter might suppress the spring market or stifle it altogether as was the case earlier this year.
So to get back to the original question, do we put our house on the market now or later? The answer is a fence sitting; ‘do it when it suits you’!