January is a time of clarity, after shaking off the tinsel and pine needles, it’s the time to return to everyday life with intentions of improving it – which is why plans for moving often come into fruition at this time of year.

If you have some reservations about putting your house on the market so soon after Christmas, here are some reasons not to worry and why in fact, January could be the perfect time to sell…

New Year, new home

Buyers on the market at this time of year have a completely different mindset than usual. January can feel like a page turned for many people, with plans for a new life right in the margins. You’re less likely to run into time wasters and tyre kickers in the New Year. People looking for a home at this time are serious about their plans, and if your home happens to match their criteria; you’re in luck.

Boast your home’s best features

Smart buyers will look for a home in the winter. Not only to avoid the summer frenzy, but also because cold weather is far more revealing, and homes can potentially look their worst in the winter. However, this is a great window of opportunity for sellers. Your agent will be able to showcase the comforts of your home with staging so that your bright, warm and welcoming house contrasts against the dark and cold. A cosy refuge from the cold that holds up nicely in the Winter is bound to look even better when the weather cheers up, and this prospect is certain to draw in buyers. 

On the move

In the wake of the holiday season, January is known for being the busiest time of year when it comes to employee redistribution and staff changes. With many people working from home, a change of job may be the push needed for a change of working environment; instead of moving offices, people will be moving to new homes with better office space. 

Now is also the perfect time for first-time-buyers to take their first step onto the property ladder. After spending Christmas indoors with family or in a small apartment, a change in environment could be just the thing they need. 

Less competition

The winter months are a great time to put your house up for sale, particularly in January when the seasonal lull is still wearing off and fewer properties are on the market. You won’t need to fight for buyers’ attention, and the imbalance of supply and demand could be great news for sellers, as buyers know their options are fewer. It’s also easier to make your home stand out from a (smaller) crowd of homes on the market, and if yours has something special to offer, it won’t stay on the market for very long. 

The green element

EPC ratings are becoming increasingly important, and the cold weather will allow you to show off your home’s energy efficiency. Buyers are becoming more conscious about energy bills and individual environmental impact at the moment, and a cosy property with an impressive EPC rating has never been more attractive to buyers than right now. 

Ready to get your home on the market? Speak to our team of experts today to get started.

The Christmas lights have disappeared, it’s cold, and it seems like summer is so far in the future that it’s never going to happen, while you want to go back to the Christmas holidays, when you could relax with friends and family and plenty of good food. 

Soon it will be spring, and with it comes renewal. So why not make a little effort now to usher in some change? Here's some inspiration and a few practical tips for you to try that will help you shake off the January blues. 

Try something new 

The best way to snap out of the same old cycle is to try new things. If you are not ready to get back to your usual exercise routine, then perhaps you could try doing some home improvements. Let’s start with some simple things. 

Let there be light 

Simply adding more light to your home is a great way to create a better environment and a more cheerful living space. Soft lighting, which creates a warm and homely feel, is one way this can be achieved. 

Mirrors 

Hanging mirrors near windows will reflect more light and add another dimension to any room. It’s a complete illusion of course, but it works, as a blank, oppressive wall seems to suddenly become another room. 

You can rely on nature 

The lines between indoor and outdoor living are rapidly disappearing in this post-pandemic world. Bring some of nature’s wonderful colours and smells indoors by adding a few extra plants, flowers, or even fruit trees to uplift any room in your home. 

Furniture   

Whether your furniture consists of modern items, antiques, or even a freebies sourced from Facebook; sand things down, restore them, or simply paint them. Perhaps you already own the perfect table that, when painted, will transform your dining room. Sideboards and cabinets painted in bright colours are on-trend, or if you prefer the classic look, it will make you feel great and complete a room. 

Change your surroundings 

Pictures, paintings, and collectibles — authentic art that has been hand-painted by artists and captures the beautiful scenery of a place you love — are a great way to help alter your surroundings. Antique dealers always have something small and affordable, but if cost is not a concern, add to an exquisite collection. You can even get creative and make something with wood, or maybe photography or sewing is your thing! 

Get out and enjoy some viewings 

Perhaps you are determined to move and do not want to spend a single pound on anything in your home. If that’s the case, rid yourself of the January blues by going to see potential properties. Online viewings are an awesome way to see multiple homes, but there is no substitute for house viewings, to see if you get that special homely feeling. 

Get your 2023 property search underway! Browse our properties 

There is much to think about when investing in property. Whether you are a seasoned investor or letting for the first time, this checklist may throw up a few things you might not have thought of... 

The Right House at the Right Price 

It all starts with the right house, flat or property. You will not get a good ROI (Return On Investment) if you have paid over the odds for your property. Worse still, borrowing excessively so your letting yield does not cover the cost of the mortgage. Using this scenario as the worst-case example the principle is true at any level. Pay the right price for a good property.   

The Area 

A good house is made even better if it’s in the right area. That is not only is it a nice area but is there a good balanced mix of both let properties and private residential homes? This gives you options when it comes to selling and letting.    

How Will You Let Your Property 

There are many agents who will provide different levels of service for a relatively small fee. Everything from collecting rent to finding and vetting your potential tenants. Some will even pay you a rental income before they have placed tenants. Maintenance and guidance on legal obligations can also be taken care of or you can opt for a halfway house where the letting agent will take care of some of these things, while you take care of the rest.  

Tenants 

If you choose to find your own tenants then you will need to set up a bank account, arrange references, set aside some time to meet tenants, so it’s worth paying a good letting agent who will take care of this for you.  

Rental Income  

It is important to get the figures right. You want to let your house and hopefully make a profit on any potential borrowings you may owe on the house or any maintenance and repairs and what you charge your tenants. The best way to do this is to create a spreadsheet and break down all costs on a monthly basis.  

Potential Expenses 

While you are on your spreadsheet, think of expenses such as maintenance; boiler services, electric appliance testing and budget for the unexpected like repairs or potential appliance replacement if applicable. 

Remember Legal Obligations and Contracts  

Check out any legal obligations and make sure your property is up to scratch to avoid any unexpected expenditure, for example is your fuse box obsolete? Also, you will need a contract to protect your tenants and yourself legally.   

Development Potential  

Perhaps you have no intention of letting your house, you are simply going to restore it, or modernise it, then sell it. Perhaps you will improve your property, then let for a time then sell it. Whichever you choose, consider market conditions and if you can stick to your budget. Try and find a property with plenty of development potential so you can add value to your investment.  

Are you searching for a great investment? Browse our properties and become an investor today 

Becoming a landlord for the first time is an exciting prospect. There is money to be made if you get it right, but there are plenty of costly pitfalls lurking if you get things wrong, so be prepared to do a good amount of research so that you can protect your investment.  

Here are all the key things you’ll need to know... 

Your property 

Decide what type of property you are going to let. Are you letting your own house? Perhaps you are looking at buying a new-build apartment or flat, which will afford you lower maintenance costs over the years. A student house will not require much in the way of good schools and other facilities if you plan to let to young families.     

The right mortgage 

If you are starting from scratch and buying a rental property for the sole purpose of letting, you will need a buy-to-let mortgage. The deposits for these mortgages are much higher than a conventional mortgage with a minimum deposit of 25%, and up to 40% for more competitive interest rates.  

If you plan on renting your existing home there should be no need to re-mortgage, however you must inform your mortgage provider to seek permission to let your home.  

Know your responsibilities  

This is the big one, being a landlord comes with many legal and moral responsibilities, the good news is that many of these legal requirements will protect you as well as your tenants.  

Deposits  

When you let your property and take a deposit you are required to protect it, there are a few ways you can do this from government-backed schemes, insurance schemes and letting agents.  

Contracts 

You will need to create a contract between you and your tenants, setting out the terms of the rental agreement, covering notice periods for eviction, property inspections and who is liable for repairs and certain contents if let as a furnished property.    

Right to rent  

Just as employers need to take the necessary right-to-work checks, as a landlord you will need to check that your tenants have the right to rent in the UK.    

Landlord license  

In some instances, you need to apply to your local council before you let the property.  

Safety  

Apart from gas, water and electrical checks and certificates, consider smoke and carbon monoxide alarms. Perhaps lesser known is the legally required EPC - Energy Performance Certificate. You will be responsible for structural repairs, and the responsibility of making sure the property is safe to live in belongs to you. 

Making a profit 

You may have heard the term rental yield, what is it? How is it calculated?   

Rental yield refers to the level of profitability of your rental property.   

To calculate rental yield, divide your annual rental revenue by the purchase price of the property. 

If you let your property for &500 per month and paid &100,000 to purchase the property.  

Divide 6000 by 100,000, multiply by 100 to get a percentage figure. 

The yield is this case is 6%. 

It’s generally expected a good rental yield is 5%, however much higher figures can be achieved!  

Letting agents 

If you are a first-time landlord a great route to take is to use a letting agent to take care of everything for you. There are different levels of service letting agents can provide. It could be that you hire a reputable letting agent to find your tenants with references, create a contract and secure the deposit while you take responsibility for maintenance or repairs.  

Many new landlords opt for a fully managed service. It will involve paying a little more commission on rent, but you will sleep soundly at night and should have more time to enjoy life! 

Insurance  

Having the right insurance will also help you get a good night’s sleep! 

Landlord liability insurance covers you against legal claims from injury to your tenants if you are found responsible, as with any insurance you can tailor your policy to suit your needs.  

Just as when you buy a house to live in, you will have to purchase building insurance before you purchase the property. Don’t forget contents insurance, particularly if you have let your property as furnished.  

Conclusion 

There is much to know and learn, so a good letting agent might be the best choice, just as finding the right property using a good estate agent makes life much easier.     

Looking for your perfect first buy-to-let rental investment property? Contact us

How to add value to your home  

Adding value to your home is straightforward. Making money often involves spending money when it comes to investments, and your home is no different! Whether you are looking for a quick flip or a total revamp, it’s important to make the right choices.    

Below, we discuss the best ways to add real value to your home... 

A few ground rules 

Do not overspend! Make sure your changes are impactful and necessary. If a refurbishment adds to the quality of your living space, then do it, just don’t get carried away. 

Be resourceful, shop around conduct plenty of research. Don’t just sign on the dotted line in a branded store, consider independent tradespeople to carry out the work, they may do a better job for less.   

Kitchen or bathroom?  

If the kitchen is in good shape but the bathroom is crying out to be replaced, then you may get more for your money by choosing a bathroom renovation.  

It could be that you need to do both the kitchen and the bathroom, arguably the two most impactful, important and costly rooms in the house.  

A new bathroom can add up to 5% to the value of your house while a new kitchen can add up to 15%, do the maths and see what you can reasonably spend. Then, enjoy the quality of new tiles, colours, materials, and cabinets with a new space-altering layout.   

Loft conversions  

Loft conversion can add between 10 – 20% to the value of your home, but be warned this is not an easy task. Firstly, check if you can convert your loft, beam heights are critical here, so you will need to get a reputable builder to give a good appraisal. There is lots of red tape involved in creating a new bedroom, office or bathroom in your loft. The good news is that this is often much cheaper than adding an extension to your property.  

Garden and outdoor living spaces 

A nice garden with outdoor living space is almost like adding another room to your house. Be careful, a few shrubs and trees with maybe some decking and already you have spent thousands. Perhaps not as guaranteed to add the same levels of added value to your home as other areas but still worth doing and will complement the entire living experience of your home. Bifold doors removing the traditional boundaries between an indoor and outdoor living will enhance this further.  

Energy efficiency  

A new heating system is not a massive investment and will save money on energy bills and easily add more than the cost of replacing the system, while not putting potential buyers off with the prospect of replacing the boiler.  

Solar panels are becoming increasingly popular. It’s an attractive proposition, particularly in today’s climate; to be self-sufficient when it comes to producing electricity. In some cases, you may even be able to supply the local electricity board and get paid!  Lower your carbon footprint or consider running your car to gain more savings. 

The little things you can do 

Sand and paint internal and external doors and skirting. 

Check out your floorboards, in older houses often these can be sanded and varnished and will look beautiful on completion.  

If you can’t afford to replace tiles and cabinets, consider painting them.  

Improve or replace lighting and light fittings. 

Sort any damp problems. 

Replace carpets or old laminate.  

 Bad bathroom grouting often brings the value of a home down far more than the relatively low cost of getting it sorted.  

Check the guttering.  

Replace windows and doors.  

Paint and decorate the internal walls and remember, if you are selling soon, use safe, neutral colours. 

It’s all good 

Whatever you decide to do, all these measures, and any you think of on the way, will add value to your home in more ways than one!    

Just finished your home refurbishment, wondering what it’s now worth? Get a valuation or browse our properties for your next move.