People have been in doors a lot and the desire to move house seems to have become very strong across the UK.
Couple that with the Stamp Duty/Land transaction tax changes and you may well be thinking of a move yourself. Here are a few tips and suggestions about how to make it that bit easier.
Time for a Change
Being stuck at home for months on end has really put our homes under the microscope. For those with children many of our ones perfectly suitable homes now feel small. Add to that two adults trying to work from home and even the most spacious everyday homes are bursting at the seams. So it is no wonder a huge number of UK residents are thinking about moving or have already done so.
Another factor at play is the prospect or lack of prospect of going on holiday! A lot of families have saved money on not going away and are now looking to improve day to day life rather than save up for 2 weeks of fun once a year.
Whether now is the right time for you to move is hard to say but it certainly isn’t a bad time to be looking. While prices are high there is also a huge amount of choice on the market and people looking to move from a higher value area to a lower one to retire, for example, it means great deals can be made.
Jamie Gray of Nexa Properties in Cardiff Says
“The market is buoyant, and deals are being done. Despite the pandemic people are working within the guidelines and moving home. The stamp duty holiday certainly helped but the market remains busy even as March draws near”
Stamp Duty
So, the holiday on stamp duty/land transaction tax has certainly pushed some people to move but with the March deadline looming it is proving a mix blessing. Some people think it falsely increased prices which has offset any gains by not paying it, others remain keen to get a move complete before it finished.
There are rumours coming from the press that the holiday may be extended and that announcement will have a big effect on the market yet again. Either way, if you feel moving is right for you it is probably best to just ignore it and budget accordingly.
How To Sell a House in Lockdown
Getting the interest going in your home when people may not want to come and see it can be tricky. But a key factor is images and video. Great pictures are incredibly important, but people are wise to the wide angled lens images estate agents often use.
Try to make sure they are representative of your home. Video tours are now really making an impact too. Most estate agents will do a video recording of the property for you, but you can also offer zoom viewings and these can be really helpful. The key is to embrace the technology if you want to sell the property.
On top of all that the usual things apply, make sure everything looks good, tidy up the garden, even a lick of paint here and there can really help. Kerb appeal is more important than ever too. This is because even in lockdown people are able to drive or walk past your property. Making sure it looks great from the outside could make all the difference between getting a viewing booked and not.
Finally, think lockdown! If you have space for a small office area then make a big deal of it on the description and images. If you have room for a desk for children do the same. Remember, people viewing the house are probably doing so because they have found their existing property too small or restrictive in a lockdown. So, make an impression with all the lockdown friendly features. Remember, just because you feel it’s too small for you doesn’t mean someone coming from a smaller home will. Be positive!
Long Term
One consideration when thinking of selling now is prices and future prices. They are high right now, there is no doubt about that. So if you are buying right at the top of your budget be careful. Negative equity can happen. If you buy high and things drop in a year or two you need to calculate a budget that doesn’t leave you owning more than the property is worth. Thankfully, as a result of 2008 banks are not lending to those levels and NE is harder to fall into than it once was.
We are hopefully looking at the last stage of this level of restrictions, but another pandemic could happen. Travel may never be the same, commuting and office work may also never go back to what it was. So, look at a home as a place of work, a school and somewhere to relax. Look at locations near walks and open space and imagine being locked down in whatever you choose to buy…if it seems like it would be better then that’s a good thing!