The latest news from HoldenCopley

A guide to determining your home's value

It's only natural that you would like to gather a fair amount of knowledge before booking in for a property valuation.

For the vast majority of us, owning a home will be one of the most significant financial investments we'll ever make. Therefore, maximising its worth is critical if we want to move up the property ladder.

We've taken this opportunity as your top local expert to explain some of the key aspects of your valuation so that you understand exactly what you're receiving and why.

What does “property valuation” mean?

A property valuation is an analysis of your home's worth. A variety of considerations, including the type and size of the property, its condition and location, as well as the seasonal and national trends in the local property market, are all factors we take into account.

It is a good idea to have a local agent conduct your valuation. They will know the local market and be able to target buyers in that area with effective marketing, which will lead to more viewings.

When choosing a representative, it is important to consider the service promise and success metrics, rather than the lowest cost.

Why is it crucial to obtain an up-to-date valuation?

While you may not be ready to sell right now, it's a good idea to keep a close eye on your local market.

Knowing your home's worth can also mean that when you are ready to sell, you'll be prepared and ready, saving you time and energy right from the beginning of your property journey.

Whether you're looking to sell now or in the future, you can get your up-to-date property valuation here.

Soaring demand for chain-free homes

New figures have revealed that, in the past year, the number of chain-free properties sold has increased by a huge 29%.

Data from a popular property purchasing specialist has revealed that a total of £28.8 billion was spent on chain-free purchases in the last 12 months. This is £8.7 billion, or 43%, higher than the previous year and is a situation reflected across every region, with increases in both the quantity and the value of transactions across the UK.

It is easy to see the appeal of a chain-free purchase. There is much less chance of a sale being delayed or falling through when there is no chain involved. Statistics published this month indicate that a chain-free transaction takes, on average, 60% less time to complete than when a property is in a chain.

The great news for sellers is that it seems homebuyers may be willing to pay a premium for a house that is not part of a chain.

If you are thinking of selling your home, now is a great time to get a valuation. Book a valuation today.

Five questions every homebuyer should ask

From assessing your finances to booking a viewing, you have a lot to think about when searching for your dream home. By asking a few key questions, you can be confident you’ve chosen the right property.

Here are five to start with:

1. Has the property been on the market for a long time?

It’s normal for a home to take a few months to sell. After that, you may need to dig a little deeper to discover why the property has been on the market a little longer than usual.

By pressing for more information, you could save yourself any worries in the long run.

2. Have there been any significant alterations?

It’s always a good idea to check what renovations or extensions have taken place over the years. Of course, we recommend having any property professionally surveyed before signing on the dotted line.

3. What is staying with the property?

When you set your heart on a home, it’s easy to get caught up in the big picture and forget about the finer details. Do you know what the current owners are leaving behind? How will this affect your moving arrangements and budget? Make sure any remaining items are listed in the contract to avoid any potential delays further down the line.

4. What are the likely running costs?

Pay close attention to hard-to-control factors such as the council tax band. Also, check the average utility costs in the area and think about how you’ll heat your home. Location can be a consideration, especially if you're moving to a more rural area. In this case, factoring in any increased travel costs is a good idea.

5. Are there any issues with the neighbours?

The seller must give a true account of any disputes, from disagreements over boundary lines, to formal noise complaints. While their answer may not stop you from buying, forewarned is forearmed.

Ready to start the search for a new home? We have some fantastic properties available to browse here.

Are you looking for help managing your property portfolio?

At HoldenCopley, we offer a range of services to our landlords, including our fully managed package. Browse our services today.

Click here to read Are you looking for help managing your property portfolio?.

How the pandemic has changed our homes

The lockdowns and social restrictions that followed in the wake of COVID-19 had some interesting consequences for Britain’s homes. Almost nine-million bedrooms have been repurposed to adapt to our rapidly changing lifestyles. A survey of 2,000 households found that 53% of UK homeowners transformed one bedroom, while 22% sacrificed more than one.*

Given the surge in home working during the pandemic, it’s not surprising that just under half chose to prioritise finding space for a home office. According to the survey, most people wish to keep this setup as flexible working remains the norm. Staying active and enjoying nights in were also popular reasons for repurposing bedrooms. Since March 2020, Brits have created over one million gyms, with home bars, cinemas, and music rooms close behind.

Despite this radical alteration in how we use our homes, 55% of owners feel they have compromised in other areas. Those surveyed often mentioned lacking room for guests and having less privacy. 11% even said their children must now share a bedroom.

Younger people with smaller properties particularly feel the pinch when it comes to space. Combined with long-term lifestyle trends and post-pandemic priorities, this pressure means that almost one-third of people may be looking to up-size soon.

With demand for homes still high, and the spring peak well underway, now is a great time to sell. Since the pandemic, property prices have been steadily rising, so make sure you contact us for an up-to-date valuation.

*Opinium Research