Category Archives: Property

Property, Retirement

Finding the right retirement property

When it comes to choosing a new home, it pays to plan ahead, and this is arguably even more important when it comes to retirement.

Whilst the Chancellor’s Spring Budget on 15 March increased the annual tax free allowance for adding to your pension pot from £40,000 to £60,000 as of 6 April 2023, any bricks and mortar investment that you make is equally as important as your liquid assets.

For many retirees, the idea of downsizing appeals since it means you are not only likely to free up capital from your existing home, but if you need a mortgage for your next property this is likely to be considerably cheaper on a smaller house. The costs of running and maintaining said house when it comes to utility bills, council tax and the like will also be more affordable and in the current cost of living crisis this is certainly a bonus.

Whether you are looking to downsize in your local area, or retirement brings a relocation to a completely different area of the UK – or even further afield – there are a number of considerations you need to make when it comes to finding the right retirement property.

 

Location, location, location

If your commute to work no longer dictates where you live, you want to move closer to family or friends, or you just fancy a complete change of pace, then your property search may take you to a different area of the UK entirely.

According to the Office for National Statistics, the most popular places to retire to in the UK were as follows in 2022.

 

Dorset

Shropshire

Wiltshire

Cornwall

Northumberland

East Suffolk

Tendring, Essex

Cheshire East

East Devon

East Riding of Yorkshire

 

Whilst the south coast is perennially popular with retirees, it often has the price tag to match its popularity, so consider areas like Northumberland, Yorkshire or Cheshire where your money will go further, and the hordes of tourists are likely to be more manageable come the summer months!

Speak to local estate agents in your chosen area and do your own research on property prices there to make sure you could realistically afford to buy the type of property you are looking for in the area(s) you like.

 

Amenities

 If your dream move takes you away from an urban area to a more rural setting, really consider the amenities you take for granted now such as good transport links, shops, eateries and essential services. If you would rather leave the car at home, a good local bus service and/or a local train station are a must. A home that is walking distance from a post office and convenience shop for essentials like milk and bread is also going to be useful.

If you are moving to a completely new town or village then social hubs like sports clubs, village halls, libraries and a local pub make it that bit easier to integrate with the community and meet like-minded folk with similar interests. If you have any particular hobbies you want to devote more time to, then it is worth checking out whether you will have easy access to these hobbies in your new area. A fan of golf? Is there a club nearby that you can join? Love to swim or flex those muscles in a spin class or yoga? Then a decent gym or leisure centre on the doorstep is essential.

 

Future-proofing your purchase

No one knows what the future holds. But if you are buying a new home then you want to make sure you have the best chance of living in it for as long as possible. Whilst thoughts of residential and nursing homes may be a long way off for now, making sure you have easy access to medical care and a pharmacy, GP and hospital within easy reach is a sensible move.

If you really fall in love with a particular property, also think about any features that may become a problem later such as lots of stairs, a steep drive or a lack of pavements or accessible paths to and from the property. Flexibility is key too, and if you have the option of plenty of downstairs living space, or the possibility of creating it, this is always useful. If your home is likely to need some alterations in the years to come but ticks all of the other boxes, make sure you have set aside the necessary savings for future renovations.

If you are moving from a house to a flat, particularly a flat in a complex designed specifically with the over 55s in mind, you also need to be aware of any on-going service charges or ground rent fees and factor these into your outgoings. Most flats are sold on a leasehold basis, which means your ownership only lasts for a fixed term. The lease may also stipulate how you use the property and the type of improvements you can make to it. Most leases run for a term of 125 years but always check how long is left on the lease before you purchase it. A shorter lease of 80 years or less can make a property difficult to resell and extending a lease can be costly.

Whatever property you choose, moving house is an expensive business – costing around £10,000 on average each time – so take your time weighing up the best options for you as you don’t want to dip into that pension pot any more than you have to!

 

Can you release some capital from your existing property?

When it comes to purchasing a new home in retirement, you need to make sure that you have an accurate idea of the current value of your existing home too. This will give you an idea of how much money you will have to spend on your next home and allow you to work out the kind of savings you could add to the retirement pot as a result of downsizing. Start with an online valuation from companies such as Yopa and then consider arranging a no obligation, in person valuation from a number of local estate agents who know the market in your area well.

It is important to consider how you sell your home as well. If you have the time and inclination to do so, becoming more involved in the process by arranging and hosting viewings and/or negotiating directly with prospective buyers can save you a considerable sum on estate agent fees. Many online estate agents offer these kind of flexible options when it comes to selling. The Home Owners Alliance provides a useful comparison of a range of online estate agents.

News, Property, Retirement

My Future Living receives record level of enquiries for retirement rentals in first quarter

My Future Living, the leading retirement brand, is proud to announce significant growth in enquiries for the first quarter of 2023, as more people are considering renting in retirement to reap the benefits of freeing up capital from downsizing and living a maintenance-free life.

This follows the latest Tenant Survey by Knight Frank focusing on the ‘underserved senior living market’, which is projected to reach 55.2bn this year. The report also suggests an increasing demand for rental properties for the over 65s, indicating this market is gaining traction.

 

Dominic Stead, Property Director at My Future Living, commented, “The Knight Frank report highlights growth in demand for retirement properties as the needs of elderly individuals are currently unmet. As the UK’s population continues to age, renting will become increasingly popular, particularly with a greater number of developments being built exclusively for retirees who prefer to rent.”

 

Over the past three months, My Future Living has experienced its strongest growth in enquiries and believes it is because renting can be a fantastic lifestyle choice, particularly for those who wish to downsize and unlock capital from the sale of their homes. It is also an excellent option for those looking to join a friendly and sociable retirement community with neighbours of a similar age and with shared interests.

The Knight Frank survey found that affordability to be a large factor as to why many live in the private rented sector, with 17% of respondents saying they don’t have enough money for a deposit to purchase a property. It also found that living in a central location was key with 75% stating that it was important their retirement village was close to the town centre.

 

Dominic Stead added: “Affordability and location are priorities for our tenants, but people also like being maintenance free and having more control over their monthly budget with no surprises. Our properties are ideally located in developments that are close to town centres with shops, transport links and the amenities people need to have access to. Renting in a retirement development can offer peace of mind too, as we offer long term protected rental contracts, the developments are very secure and there is a 24-hour emergency alarm system in each apartment and an onsite manager on duty, with a community of people close by. As people age this is really reassuring. Renting can suit people’s circumstances better in later life and as demand increases, we expect more people will opt to rent.”

 

My Future Living currently has a large one-bedroom retirement apartment available at Homebank House close to the heart of Oxton on the Wirral for £675 per calendar month. The development offers a communal lounge which is an ideal place to socialise with other residents, or enjoy the well-maintained gardens, plus there is a lift, laundry facilities and guest suite for visiting family and friends.

 

In Southampton a one-bedroom apartment at Lake House is available to rent at £750 per month. Lake House is an attractive development set in beautiful communal gardens with views over Freemantle Park and the upper reaches of Southampton Water. It’s located just a short distance from the shops and a wealth of entertainment options including theatres, museums, galleries, shopping centres, impressive architecture and the harbour.

 

Apartments are available on an assured ‘lifetime’ tenancy, which means people can stay as long as they wish, as long as they keep to the terms of their lease. All developments benefit from landscaped gardens, a communal lounge to socialise in plus a 24-hour emergency alarm system in each apartment and an onsite manager on duty.

To find out more about renting a home in a retirement development in 2023 visit: www.myfutureliving.co.uk

 

Business & Property News, Business Expansion, Property, Wales

World-class technical support that elevates customer expectations.

Further to their ever-growing business, PR Lift Equipment would like to extend a big welcome to Ryad Atrouche as Technical Support Specialist to their team.

“Developing our technical department even further ensures that we continue to provide the most reliable and reassuring service to you, our customers” , says PR Sales Director, Lee-Roy Rushforth.

Ryad formerly worked at Arkel Electric Electronic in Turkey and has a great wealth of technical experience supporting Arkel equipment, as well as many other advanced and complex electronic lift systems.

As PR’s dedicated technical support specialist, Ryad will be responsible for collaborating with customers to offer lift technical support with troubleshooting, fixing technical problems such as job sites support. Ryad will also be providing training, looking at data and system logs, testing equipment and much more. All remotely at their customers’ convenience via telephone, email or Whatsapp.

Speaking of his early career Ryad has said “ I graduated in automotive mechatronics and worked in the same field in my native Algeria before moving to Turkey, where I started my career in the elevator industry.

My motivation for entering this field was the opportunity to work with advanced and complex electrical and electronic systems and to make a positive impact on the technical support of customers, by ensuring their complete satisfaction.”

The ability to apply my specialist knowledge to help solve difficult problems and also to maintain and optimise day-to-day elevator operations is the best part of my job.

The most memorable experience of my career so far was when I had the opportunity to participate in one of the biggest exhibitions in the world (Asansor Istanbul).

This gave me the chance to connect with a variety of customers from across the globe and solve a multitude of inquiries. Being able to diagnose and solve major electronic issues in their elevator systems in several minutes that had been causing them problems for several months, was incredibly satisfying.”

Ryad, along with the rest of the PR Lift Equipment team will be hosting a number of dedicated tech Q&A events for Lift technicians, engineers, service/inspection personnel and
Lift consultants each month via Facebook.

Make sure you take full advantage of these “Tech-Talk” sessions by joining their Facebook community: www.facebook.com/PRLiftEquipment.

To find out more about our lift equipment or to speak to an expert, email sales@prliftequip.co.uk or call us on 01244 631321. www.prliftequipment.co.uk

Home Improvements, Homeowner Advice, Property, Property News

Which doors are worth choosing? Check these bestsellers.

The role of a front door cannot be reduced to aesthetic. Front doors are important not only for the appearance of your home but also, above all, for your comfort and safety. That’s why their choice should be a well-thought one.

In Fenbro we understand that choosing the right door material and type for your house may be difficult. To help you, we have prepared a list of bestsellers, presenting the most popular products in our offer.

Steel doors and composite doors

Steel doors are made of one of the strongest materials out there, thus they offer safety, durability, and comfort. But the list of benefits does not finish here. Easy maintenance is yet another asset. Steel doors, as well as composite doors, do not require time-consuming and costly maintenance work. And you will find them surprisingly easy to keep clean. The construction is also well-known for its insulating properties. Front doors made from steel are very effective in reducing heat loss and blocking outside noises.

Focused on the needs and expectations of the most demanding clients, we offer WIKĘD Steel Doors for apartments and WIKĘD Composite Doors for houses. They are commonly used for both new builds and refurbishment projects. Homeowners choose them for their high quality and timeless design. The doors are durable, functional and look very well. What is more, WIKĘD Doors come with glazing that adds to their unique design and helps to illuminate the interior.

Aluminium doors

Aluminium doors offer modernity in terms of technology and security. Their elegant look comes with very good properties. Aluminium doors are resistant to weather conditions and require very little maintenance. They are also easy to keep clean.

The elegant collection of aluminium exterior doors from Fenbro is addressed to the most demanding customers. We have selected top brands and their bestselling models especially for you. Our offer includes:

  • Aluprof Exterior Doors
  • AluLine Exterior Doors
  • WIKĘD Exterior Doors

We have a wide range of panel designs that match your house exterior with an uncompromising manner. Depending on the house style you are going for, we offer door panels with glazing, stainless steel applications and a decorative cutter.

Wooden doors

Traditional materials are still highly appreciated by homeowners all over Ireland. For this reason, many choose wooden doors, which can last for decades with proper maintenance. As a construction material, wood offers many beneficial properties:

  • it’s a great insulator that reduces the heat loss significantly,
  • it blocks outside noises,
  • it’s resistant to external conditions,
  • it can be renovated many times and get an up-to-date look when trends change.

Our offer of high quality wooden doors is based on well-known brands, such as:

  • Naturo
  • Derpal

Wooden doors are a great fusion of tradition and modernity. They come in many different styles, colours and finishes, also with elegant glazing panels that add to their modern appeal.

uPVC doors

uPVC doors are far more popular than you may think. Homeowners select them because they provide a good balance between security, insulation properties and cost. They also offer a vast selection of designs to choose from. You can either opt for a classy look or modern design, with or without glazing.

When it comes to uPVC doors, we highly recommend Aluplast Doors.

High quality doors from Poland

Fenbro offers high quality doors with full guarantee and installation services all over Ireland. Our offer includes:

  • Steel doors
  • Composite doors
  • Aluminium doors
  • Wooden doors
  • uPVC doors

We also provide you with front door accessories, ranging from useful and aesthetical door fittings to intelligent technological solutions. With our accessories, your external door will be fully decorative and functional.

Are you looking for the perfect front door for your home? Contact Fenbro and take full advantage of high quality solutions at low prices and the professional service. Our doors from Poland come in a variety of textures, styles, and finishes.

London, Property, Property News

A Short Guide for New London-Based Landlords

ECA International has officially listed London as the fourth most expensive city in the world, but it makes for a brilliant playground for landlords. If you’re considering becoming a London-based landlord, you’ll be full of questions because you know that any shortcomings will be extremely costly. Luckily, we’ve got your back by putting together the following guide, which covers everything from budget setting to energy audits.

Budget for Ongoing Costs

Buying a property and getting it ready for tenants to move in is only the beginning of the road when it comes to associated costs. You will need to have a budget prepared for the continuing costs, which include maintenance, mandatory checks like the EICR London, void periods, and mortgage costs. Additionally, if you choose to use a letting agent, their fees will need to be paid as well.

The best way to prepare for the continuing costs is to build a budgeting strategy, which includes methods to reduce costs in the future. For example, you can find ways to lower energy bills and maintenance expenses.

Conduct Locational Research

The beginning of any business involves researching the market, including the demographic and average rental costs. Additionally, you need to pull up Google Maps to figure out the benefits there are to live in the area. For example, is it close to great schools, public transport links, and attractions (of which there are plenty in London)? Acquiring this information will let you start focusing on the type of tenants you’d like to host.

When you eventually come to find your first tenants, your research will allow you to beat the competition and bring in revenue.

Property Preparation

If you walked into a shop and found the walls were cracked, the floors were peeling up, and the windows were broken, you’d most likely turn around and walk out. This concept transfers directly to setting up your property and allowing prospective tenants to look around. If they’re not impressed with the state of the place, they’ll turn around and find somewhere else to rent.

To avoid losing out on business, spend time carrying out maintenance tasks including fresh coats of paint, filling cracks, and replacing electrical outlets.

Make Health and Safety Efforts

Landlords are responsible for making sure their properties live up to health and safety regulations, which means spending time checking off the health and safety aspects. For example, you will need to have sufficient carbon monoxide and smoke alarms – and they’ll need to have batteries. As well as this, you should check for wonky fixtures including broken fixtures and stairs.

Before you’re allowed to move in with any tenants, you’ll also need to have an electrical safety test carried out, which makes sure all wiring and fixtures are up to code. Having an EICR in London performed by an electrician can be challenging, so get in touch with a business that’s committed to electrical testing. After having the initial test, you will need to have your EICR certificate London renewed every five years.

Contacting Agents

Successfully putting a property up for rent can be challenging, and the longer you go without tenants, the more money you’re pouring down the drain. Therefore, to reduce the stress and increase your chances of securing a tenant, get in touch with a letting agent and leave it to the experts. As well as telling you how to make your property more appealing, a letting agent will optimise your ad to make sure the right tenants come through.

Sourcing the Right Tenants

Being a landlord means allowing people to live in your home on a fixed-price contract, but that doesn’t mean you have to let just anyone in. The best place to start finding tenants is by checking with loved ones to see if they know anyone looking to rent. Sourcing a tenant this way may feel smoother because you have a mutual connection already.

The next avenue to explore is contacting an estate agent. They can either take control of every aspect of the property management, or you can scale them to suit your circumstances. For example, you can deal with the maintenance side while they manage legalities and tenant sourcing.

You also need to make sure that the tenants you find can afford the rent, which is why you can carry out a financial background check. The best way to do this is through a reputable referencing agency, which will assess savings, current employment, and any associated debt like CCJs. If you’re not satisfied that a prospective tenant can afford the rent, you can decline their application or have a guarantor referenced, which will cover the rent if the tenant fails to pay.

Covering Your Assets

Even after spending time finding the correct tenants and completing all maintenance tasks, things can go wrong that can leave you out of pocket. For example, a disgruntled tenant decides to wreck the place on the way out, which would be expensive to replace. To avoid upsets like this, it’s always best to cover assets by taking out suitable landlord’s insurance. As well as covering physical monetary expenses or loss of rent, landlord insurance will pay for legal expenses associated with having tenants evicted.

Spending Time on Tenancy Agreements

The tenancy agreement exists to protect both the landlord and the tenant, so it’s essential to make sure you get it right. If you’re not 100% sure about what needs to be included in a tenancy agreement, you can get in touch with a lawyer to draw one up or you can use the government’s recommended tenancy agreement.

No matter which way you go about creating the agreement, it’s essential to make sure every word is concrete. This means using absolute phrases that have zero wiggle room for misinterpretation. If you’ve written the agreement yourself, make sure you have a legal expert take a look over it.

Managing Relationships with Tenants

You rely on your tenants to respect your property and pay their rent, and this will be easier to achieve if you have a positive rapport with them. If you communicate effectively and take care of any maintenance requests swiftly, your tenants are more likely to have respect for you.

If a letting agent is taking complete control of your property, you won’t need to engage with any tenants. However, this is still a source of income, so you will need to check in regularly to make sure the letting agent is holding up to their end of the contract.

Having an Energy Audit Completed

The UK is currently in a period of high inflation levels, meaning energy bills and the wider cost of living are rising rapidly. Therefore, to attract the right tenants, you’ll need to do everything in your power to make sure the property is energy efficient. To find out where your property is currently, check the (EPC), which is a document you must provide to all tenants.

If appropriate measures aren’t taken and the property should have a higher rating, tenants are entitled to ask their landlords to take measures to improve the EPC rating.

Being a London-based landlord is fulfilling, but there are countless preparations and considerations to make before listing a property. You need to set a budget, research the market, source tenants, and make sure the property meets health and safety standards.

Pets, Property, Property News, Travel

Why hiring a Homesitters means all your pets’ needs are met while you are away

A stunning Egyptian Arab horse, a Shetland pony, plus a Havenese dog, cat and Koi carp are amongst the pets that Homesitters look after when their owner goes away.

Aflie the horse, Rupert the pony, dog Theo, cat Noddy and the Koi carp belong to a family that live in a large Tudor style house in Warwickshire and have used homesitters for 15 assignments as they wanted someone to stay in their home and care for all their different pets.

Homesitters provides responsible and vetted home and pet sitters to clients across the UK looking for someone to take care of their home and pets.

Ben Irvine, Director of Operations at Homesitters Ltd said; “Our homesitters are experienced with all types of pets, from different dog and cat breeds to more unusual pets. The benefit for our clients which have a menagerie of pets is they employ one person or couple to live-in their home to look after all their different pets which is cost-effective and means their animals can all stay in their home environment.

“For dogs and cats especially this is preferable to a kennel or cattery, plus there is someone living there for the horses rather than just popping in to the feed them. The home and pet sitter can also keep an eye on the koi carp pond, as well as ensure the home is occupied which can help prevent opportunistic burglaries.”

 

Paula and Gavin Rose from Dorset have done over 90 assignments since they joined Homesitters in 2012, with four booking planned for this year already. The couple are both in their 50s and decided to become homesitters when they no longer needed to work full time and wanted to try something new.

While sitting for their client in Warwickshire, Paula and Gavin give daily walks to Theo, feed all the animals per the client’s instructions and give them all lots of love and attention. For Alfie and Rupert, the Roses provide two feeds a day, along with topping up their water, checking the enclosure is all intact, and they are in good form.

Paula explains, “We wanted a lifestyle change – we were keen to live in different parts of the country and meet new people and researched ways to do this. Then we discovered homesitting and it sounded ideal. We love animals and are keen walkers, and the role incorporated the travel and new experiences we were looking for.”

The Roses tend to go on about 12 assignments a year which can vary in length from three or four days to a month at a time. They usually look after dogs and cats although they have also looked after horses, chickens and a tortoise, and once memorably homesat at a hedgehog sanctuary.

They were once asked to help out at the hedgehog sanctuary while they were staying in the owners home looking after her two dogs and a cat. They helped another volunteer at the sanctuary to feed sick and injured hedgehogs that had been rescued – they eat kitten food and mealworms – and weigh them to check they were progressing well. Once the hedgehogs were recovered, they were reintroduced to their natural habitat.

“That was a really interesting homesit” says Paula, “we enjoyed learning to handle and care for the hedgehogs, it’s not often you get to see these little creatures close up and we took great pleasure in being able to help with their recovery.”

 

Paula and Gavin prefer to be in the countryside rather than the town as they enjoy walking. While the couple’s own home is a small bungalow, often the homes they stay in are grander. They sometimes have swimming pools, table football or pool tables too so there is always something to do regardless of the weather.

Paula recalls one of her favourite homes, “It was like staying in a National Trust property, the gardens were very well kept and beautifully laid out, there were ponds and statues. It was such a pleasure to be able to step out of the house straight into that beautiful setting.”

 

Homesitters Ltd are different to many other pet sitting agencies in that all their homesitters are employed by them, are fully vetted and insured, plus they provide 24/7 back up support for homesitters on assignment. Homesitters also meet clients and their pets beforehand to be briefed on the home and the pets’ routine to ensure the assignment goes smoothly.

For more information on Homesitters Ltd and to apply to become a homesitter visit: www.homesitters.co.uk

Property

Tips to Earn Well in a Slow Real Estate Market

Real estate is a great investment, but the market can be unpredictable. It’s important to know how to navigate a slow real estate market in order to make wise investments and earn good returns. This article will provide helpful tips on what strategies to use when dealing with a slow real estate market. From reading this guide, you’ll learn how to recognize signs of a sluggish market, identify opportunities for maximum return, and leverage various resources that can help you yield good results.

Slow Real Estate Market

What does a career in real estate look like in a slowing market? This is the most frequently asked question. The real estate market is known for being cyclical, with periods of rapid growth and sudden downturns. When the market slows down, it can be challenging for anyone working in the industry to maintain their income stream. However, this doesn’t mean there aren’t opportunities available in a slow real estate market. In fact, a career in real estate can still be lucrative even when times are tough.

Research Local Market

If you’re looking to earn good money in a slow real estate market, researching your local market is essential. While the national housing market may be sluggish, there may be pockets of growth and stability in your area that you can take advantage of. By doing some research into current trends and conditions, you can identify these opportunities and position yourself for success.

One way to start researching your local market is by gathering data on recent home sales, prices, and inventory levels. You can find this information online through various real estate websites or by working with a local real estate agent. Look for patterns or trends in the data that indicate areas where demand is high or supply is low.

Consider Different Pricing Options

In today’s slow real estate market, it can be difficult to earn a good profit on your property. This is why considering different pricing options can be a smart move if you’re looking to make money in the world of real estate. One option to consider is offering seller financing. With this strategy, you act as the lender and allow the buyer to pay off their mortgage over time. This can attract buyers who may not have access to traditional financing and can help you earn interest on top of the sale price. Another option is implementing a rent-to-own program.

Develop a Competitive Edge

In today’s slow real estate market, it can be challenging for agents to make a decent income. However, there are ways to develop a competitive edge that will help you earn well in this market. Here are some tips to get started.

Focus on building strong relationships with your clients. Establish trust and show them that you are committed to helping them find their dream home or sell their property at the best price possible. Being a part of a franchise can elevate your real estate business. This will not only lead to repeating business but also referrals from satisfied clients.

Network & Promote Online

If you are a real estate agent struggling to make sales in this slow market, networking and promoting yourself online could be the key to earning good numbers. With so many potential clients spending hours on social media platforms each day, it’s important that you have an online presence that stands out.

One way to network and promote your brand is by joining real estate groups on Facebook or LinkedIn. This will give you access to a community of active agents who can offer advice and even referrals.

Conclusion

Navigating the slow real estate market can be difficult. However, there are ways to improve your chances of earning good returns. Set realistic goals and expectations, research the local market, price your properties competitively, focus on quality service, and consider new investment strategies. With a bit of know-how and dedication, you can make it work in even the toughest of times. So don’t give upstart taking advantage of these tips today to turn the slow real estate market into a lucrative venture.

 

 

 

 

News, Property, Retirement

Spring into action and discover the benefits of renting in retirement

Spring is a time for change and new beginnings. For retired people thinking about moving or putting their house on the market, now might be a good time to consider renting in a friendly retirement community to enjoy all the benefits this can offer, plus have the chance to win a Robot vacuum cleaner in a spring prize draw.

Rightmove[i] reported that increasing numbers of buyers are returning to the market with 2023 starting much better than many expected. This is positive news for those keen to downsize and move into a smaller home.  Recent research from Hargreaves Lansdown[ii] shows that one quarter of people said they planned to downsize their home in retirement.

As an incentive to move this spring retirement rentals brand, My Future Living is giving one lucky resident the chance of winning a Robot vacuum cleaner plus a kitchen bundle. Robot cleaners are designed to clean floors robotically so people can sit back and relax without having to lug around a heavy vacuum.

Three other new residents will also win a super spring kitchen bundle including gadgets and cleaning products worth up to £150. All tenants that have valid tenancies that start between 1 March 2023 and 31 May 2023 will automatically be entered into the draw.

 

Dominic Stead, Property Director at My Future Living said: “Downsizing and renting in a retirement development is an increasingly popular choice. It’s an affordable way to live independently in a sociable community with similar aged neighbours. This encourages friendships with plenty of opportunities for an active social life.

“Other benefits include living in a more manageable size property, freeing people up from the upkeep and maintenance of a home, plus there is a 24-hour emergency call system in each apartment.  Most retirement properties are available on assured (lifetime) tenancies so people can stay in their home as long as they wish, provided they keep to the tenancy terms.

“People essentially have the same security of tenure as ownership. This can be the biggest pull and often changes how people view renting. Choosing to rent instead of buy also gives people capital to use in retirement, plus no stamp duty which can add to moving costs when buying in more expensive retirement locations.”

 

One retiree who hadn’t previously considered renting is Glyn Jones, who is in his 70s and lives in Ida Court, a charming retirement development for the over 60s in Woolston, close to Southampton.  The development is close to shops and amenities, buses to the city centre and a five minute walk to the train station.

He says, “I was a bit taken a back at first about how attractive the area, the development and gardens are. There are only 14 apartments at Ida Court so it looks more like a mansion block and has a really nice outlook. I am in a one bedroom apartment on the 1st floor which has a lovely alcove I can sit in and look out of the window.”

One of the benefits for Glyn, who lives alone, is the community element of living in a retirement development.  He has become good friends with his neighbour who is 93 and regularly socialises with the other residents in the communal lounge and gardens. He also gets weekly visits from an old friend and they go out visiting local places and attractions.

Glyn adds, “I’m really happy living here. I can’t believe my luck in having such a fantastic apartment. I hadn’t considered renting in retirement before moving here, but I highly recommend it, especially for those downsizing from a larger home like my neighbour did. The community is really nice and I’m hoping I will stay here for a long time.”

Dawtrey Court

My Future Living has a bright one bedroomed apartment available on the second floor in Dawtrey Court close to Southampton city centre. Southampton is popular with retirees and has been voted the second best city to retire to in the UK[iii]. The rent is £895 per month and includes maintenance and service fees.

There is also a one bedroomed apartment in Swannery Court in Weymouth, close to the local shops and railway station. Weymouth is a lively town which still retains many Georgian buildings and features, and considered to have one of the finest traditional seaside bays in the country. The rent is £895 per month and includes maintenance and service fees.

 

And in Warwick, My Future Living has a one bedroomed apartment in Montgomery Court set in beautiful gardens.The county town of Warwick is steeped in history and well known for the major tourist attraction of Warwick Castle. The rent is £875 per month and includes maintenance and service fees.

Warwick Castle, handy for residents at Montgormery Court

All developments benefit from landscaped gardens, a communal lounge to socialise in plus a 24-hour emergency alarm system in each apartment and an onsite manager on duty.

To find out more about renting a home in a retirement development in 2023 visit: www.myfutureliving.co.uk

 

For more details about the spring prize draw, including the T&C’s, click here.

 

 

[i] https://www.rightmove.co.uk/news/content/uploads/2023/02/Rightmove-HPI-20th-February-2023-Final.pdf

[ii] https://theintermediary.co.uk/2022/12/a-quarter-of-people-plan-to-downsize-home-in-retirement/

[iii] https://www.pensionbee.com/blog/2020/october/best-places-to-retire-in-the-uk

Home Improvements, Homeowner Advice, Property

4 Ways to Attract Potential Buyers

If you’re thinking about selling your home and moving into an exciting new property this year, you might be looking for quick and easy ways to attract potential buyers. We’re not talking about a complete home re-design (although you’re more than welcome to venture down that path if you want to), we’re talking about some simple DIY jobs that will have a big impact on the way your home looks and feels.

1 – Apply a fresh coat of paint

If you haven’t painted your home in a couple of years fresh lick of paint can make a real difference. Walls near high-traffic areas, like around doors and up the stairs, are notoriously dirty because people are constantly touching them. If you have children or pets, you might also notice that the lower levels of your walls have gained muddy paw prints and crayon scribbles that can’t be simply wiped away. Potential buyers are sure to notice this as they scrutinise the quality and cleanliness of your home, so it’s best to try and rectify the situation with a lick of paint – if you can.

Painting the rooms in your house can be a bit of an awkward job, especially if you have high ceilings. We’d highly recommend investing in a good quality step ladder to help you reach difficult areas. The best type of step ladder for painting and decorating is a platform step ladder. As the name suggests, these ladders come with a large platform at the top which allows you to keep all your equipment in one place while you’re working at height.

It might take a little bit of effort, but freshening up your walls is worthwhile if you want to sell your home quickly. We recommend opting for neutral colours, as these tend to appeal to the majority of potential buyers.

2 – Improve loft insulation

If your home lacks insulation, now might be a good time to consider rectifying that. With everyone thinking about the rising costs of energy and the environmental impact of their homes, taking the time to improve the efficiency of home will pay dividends when it goes to market.

Now, you could ring round a few local builders to get the job done for you, but you can probably tackle the insulation on your own and save a few pennies. Nowadays, you can purchase loft insulation in your local DIY shop, so you shouldn’t have any issue getting hold of the necessary materials.

When it comes to installing your new loft insulation, we’d highly recommend investing in a sturdy loft ladder – especially if you home doesn’t already have one. A sturdy loft ladder will help you make the insulation improvements in the loft, but it will also be a big asset for future owners. Once the new loft insulation is installed, you should keep a record of it so that you can notify potential buyers about the improvements you’ve made.

3 – Better curb appeal

The way your home looks from the curb is a huge influencing factor when potential buyers come to visit. That first impression is really important, because if you can make someone fall in love with your home before they’ve even stepped foot inside, then you’ve already won half the battle.

There are numerous different ways you can improve your home’s curb appeal, starting with a good jet wash. As much as we try to sweep and maintain our driveways, dirt will inevitably build up. Power washing the driveway, front of your home and pathways will instantly lift the appearance of your home. You could also consider panting the outside of your home, adding some potted plants, cutting the front lawn and cleaning the windows. All of these little jobs will give your home the facelift it needs to steal people’s hearts.

4 – Tidy up your garden space

If you’re feeling especially adventurous with your DIY skills, you could try your hand at some garden jobs to help improve the value of your home and attract potential buyers. If you don’t already have a garden shed or summer house, they can be a real asset to your garden space. A garden shed can be used to store all kinds of tools, including the lawn mower, freeing up space in the house/garage.

If you don’t want to add additional storage with a shed, you create a cosy outdoor seating area for the summer nights by adding a summer house. Nowadays, you can find everything you need to build your very own garden shed or summer house in your local hardware store.

Other thing you can do to attract potential buyers are; increasing the privacy of your garden, building an outdoor BBQ or dining area, or adding easy-to-maintain planters. Whatever improvements you make in your outdoor space are sure to capture the attention of potential buyers, especially if they have a young or growing family.

So there you have it, if you’ve been looking for a few ways to attract potential buyers, we hope you’ve found this blog useful.

 

Home Improvements, Homeowner Advice, Property, Property News

How To Finance A House Extension

Before we dive into financing options, it’s important that you understand the costs associated with a house extension. The average cost of an extension depends on several factors such as the size of the extension, the materials used and the level of finish you want.

According to the Royal Institute of Chartered Surveyors (RICS), the average cost of a single-story extension is around £30,000 to £50,000 whilst a double-story extension can cost anywhere from £50,000 to £90,000.

Therefore, financing a house extension can be a tricky task due to the amount of capital required.

What Are The Financing Options For A House Extension?

1. Remortgaging

Remortgaging involves switching your existing mortgage to a new lender or a new deal with your current lender. By remortgaging, you can release equity in your home to finance your extension.

This means you’ll be borrowing more money than you currently owe on your mortgage, which will increase your monthly mortgage payments. However, the advantage is that the interest rate on a mortgage is usually lower than other forms of borrowing.

2. Home Improvement Loan

A home improvement loan is a secured loan specifically designed for home improvements. You can borrow a fixed amount over a fixed term and pay it back in monthly instalments.

The interest rate on this type of loan is usually higher than a mortgage but lower than a credit card or personal loan. If you want to use this type of finance option, you’ll need to speak to a broker that offers home extension loans.

3. Personal Loan

A personal loan is an unsecured loan that can be used for any purpose such as a house extension. The interest rate on a personal loan is typically higher than a mortgage or home improvement loan but lower than a credit card. It’s also available from a range of lenders, including banks, building societies and online lenders.

4. Equity Release

Equity release is a way to release some of the value in your home without having to sell it. There are two types of equity release: lifetime mortgages and home reversion plans.

With a lifetime mortgage, you borrow against the value of your home but you don’t have to make any repayments until you die or sell your home. With a home reversion plan, you sell a percentage of your home to a provider in exchange for a lump sum or regular payments. Both options can be expensive and the interest rates can be higher than other forms of borrowing.

What’s Involved To Extend A House?

Once you’ve decided how to finance your house extension, it’s time to plan and execute the project and below are some steps to follow:

1. Get Planning Permission

Before you start any work, you’ll need to get planning permission from your local authority. This is a crucial step in extending your house because it ensures that your project complies with local planning regulations and won’t cause any harm to the surrounding environment.

Planning permission is required for most house extensions and you’ll need to submit an application to your local authority detailing the proposed work, including plans, elevations and site location.

To ensure your planning goes smoothly, it’s highly recommended that you hire an architect. Although an architect’s fees can be costly, it’s a worthwhile investment to ensure you get your planning permission.

Once submitted, your local authority will review your application and consider factors such as the impact on the local area, the size of the extension and any potential issues such as access and parking. The process can take up to eight weeks and it’s important to note that some applications may be subject to further review or appeal.

2. Set a Budget

Once you have planning permission, it’s time to set a budget for your extension. This will depend on the size of the extension, the materials used and the level of finish you want. It’s important to be realistic about your budget and to factor in any unexpected costs, such as planning fees, building regulations and professional fees.

It’s also worth getting multiple quotes from builders and tradespeople to ensure you’re getting a fair price.

3. Choose Materials

The materials you choose for your extension will depend on your budget and the style of your home. You’ll need to consider factors such as the cost, durability and maintenance requirements of the materials, as well as their impact on the environment.

Some popular materials for house extensions include brick, stone, timber and glass. It’s worth discussing your options with your professional to ensure you choose materials that are appropriate for your project and meet your requirements.

4. Prepare the Site

Before any construction work can begin, the site will need to be prepared. This involves clearing the area, installing temporary fencing and creating access for machinery and equipment.

It’s also worth considering the impact of the extension on your neighbours, such as noise and disruption. You should communicate with your neighbours in advance to let them know about the project and to address any concerns they may have.

5. Build the Extension

Once the site is prepared, construction work can begin. This will involve digging foundations, constructing walls, installing windows and doors and adding any fixtures and fittings. It’s important to ensure that the work is completed to a high standard and that all regulations and safety standards are met.

During the construction phase, it’s worth staying in regular contact with your builder to ensure the project is progressing as planned and to address any issues that may arise.

6. Final Touches

Once the construction work is complete, it’s time to add the final touches to your extension. This will involve painting, decorating and installing any fixtures and fittings, such as kitchen units and bathroom fixtures. It’s important to ensure that the finishes are of a high standard and that they meet your requirements.

Conclusion

Extending your house can be an exciting project that can add value to your home and enhance your living space. However, it’s essential that you plan the project carefully, set a realistic budget and choose the right financing option.