Category Archives: Property

Property

Things To Consider Before Selling Your Home

Selling your home can be an exciting time, but it is also filled with a lot of decisions and considerations. It’s important to take the time to consider all of your options before you make any big moves. Whether this is your first or fifth time selling a property, here are some key points that will help ensure you get the best outcome possible from your sale.

 

Research the Current Real Estate Market

Understanding the market is a key step to selling your property at the right price. By taking the time to research what kind of properties are selling in your area, how long they stay on the market, and what kinds of offers people are making, you’ll be able to get an idea of what buyers are willing to spend.

You could also look at previous house sale benchmarks. For example, if you’re looking to sell your home fast in Leeds, researching recent sale prices of similar homes in Leeds will help you understand how much you can realistically ask for yours so that it sells efficiently.

 

Check Zoning Requirements

Before listing your home, it’s important to make sure that you understand any zoning restrictions that may affect potential buyers or how you advertise your home. Local ordinances can differ by city and state, so familiarizing yourself with them beforehand will save you a lot of time and headaches down the line.

 

Evaluate Your Home’s Condition

Before listing your house, do some basic assessments to make sure everything is in working order. This can include checking for any potential safety hazards or areas that need repair.

Also, it’s important to evaluate any cosmetic deficiencies and make improvements accordingly so that buyers feel more inclined to make an offer on your property.

 

Determine Your Next Step

Selling a home is not only a financial decision but an emotional one as well. Do some soul-searching before committing to any big moves, and be sure to consider where you want to live next and how much time and money you are willing to invest in the process.

 

Get the Necessary Paperwork in Order

Before listing your home, it’s important to make sure you have all of the proper documents and paperwork in order. This can include things like getting an appraisal, title insurance, and a survey of your property. Having these documents ready to go will help streamline the process and make sure that everything goes as smoothly as possible with potential buyers.

 

Get an Inspection

Before listing your home, it’s important to get a thorough and unbiased inspection. This will help identify any potential problems with the property that could hurt its saleability or be a safety hazard for buyers.

Also, getting an inspection can also protect you from future liability by making sure all defects are properly disclosed before closing.

Selling a home can be a daunting task, but by taking the time to consider all of your options you’ll be sure to find success. Researching the market, understanding zoning requirements, evaluating your home’s condition, and determining your next step are all crucial pieces of the puzzle when it comes to finding that perfect buyer.

 

With these tips in mind, you’ll have everything you need to get started on selling your property.

London, Property, Property News, Retirement

Trevor is loving life at My Future Living Retirement Rental Property

When Trevor Worrell aged 67 years downsized to a one-bedroom flat in retirement development Marlowe Lodge in Croydon through My Future Living it feels like he has finally found a community where he belongs.

After taking early retirement aged 40 from his job as a technician officer for London Underground, Trevor stayed living in Clapham for many years so he could be close to his father and look after him.

Originally from St Andrew in Barbados, Trevor enjoyed living in Clapham as it was an easy commute to his job.

However, after 30 years, he felt it was time to slow life down and move to a smaller place which didn’t need so much maintenance and made the tough decision to relocate and rent an apartment in a retirement development in Croydon.

Being within an easy distance to Gatwick airport was important as he used to travel a lot to see family and friends in Barbados.

Trevor comments: “I don’t travel so much now since covid, but I am so happy here it suits me well. There are 24 of us at the development and we all know each other very well, which means there’s always a friendly face around and I feel like we’ve got our very own little community.”

In the summer months, the residents of Marlowe Lodge gather in the beautifully landscaped gardens, around the oversized table for drinks and use the lawn for games of croquet.

As a single man, Trevor enjoys the company of the other residents. He says, “There’s always something going on and I never feel like I live here on my own. We have film night and fish and chip night in the communal lounge every Friday.”

Trevor enjoys the benefits of an assured tenancy through My Future Living which gives him peace of mind as he has protection from eviction and can stay in his home for as long as he wishes (providing he sticks to the terms of his tenancy). Plus the freedom to give the required notice and leave at any time if he wants to.

Trevor says he’s got everything he needs nearby: “There’s a doctor’s surgery next door, a barbers two doors down and the local supermarket is just opposite. I don’t need to venture far but there’s a bus stop close by which is handy when I want to go out for the day and visit my social club in Clapham, where I am still a member”

Trevor adds: “I don’t have any plans to leave Marlowe Lodge as I feel happy and settled. This place ticks every box for me plus I feel like I have my friends around me and the communal lounge is a lovely welcoming place to sit and chat to whoever is passing. “

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

 

News, Property

lettingaproperty.com launches Seedrs crowdfunding campaign as next phase in growth strategy

• Online lettings platform launched Seedrs public funding round on 24 January 2023
• Investment target is £850K, including recent capital raise from Mercia Asset Management
• lettingaproperty.com has 20,000+ registered landlords and manages 1,500+ properties

Online lettings platform lettingaproperty.com has announced the next phase in its growth strategy, launching a fundraising round with equity crowdfunding company Seedrs. The move follows an initial raise of £750,000 in mid-2022 from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s EIS funds.

Founded by brothers Jonathan and Matthew Daines in 2008, lettingaproperty.com provides a cost-effective alternative to traditional high street letting agents. The company has grown organically over the years, proving its business model and refining its offering. Today, lettingaproperty.com has over 20,000 registered landlords, more than 1,500 rental properties under management, and collects over £24 million in annual rent across England, Scotland and Wales.

Over the last two years, lettingaproperty.com has seen 80% subscriber growth, generating £800,000 in annual recurring revenue, and £1.1 million turnover in 2022. This represents just over 0.1% of the serviceable available market, so the potential is huge. The aim is to service 1.2% of this market – that’s 10,500 recurring revenue subscribers, and a strong growth story as lettingaproperty.com journeys through future funding rounds.

To support this growth, the company has assembled a strong leadership team, with proven experience of rapidly scaling businesses. This includes Kevin Neary, Founder of GameStop Group, Matthew Farrow, former Financial Director of Purplebricks, and Stephen Windsor, of Mercia Asset Management.

The company recently launched a new SaaS rental platform, enabling landlords to simply manage the end-to-end letting process online. This also provides a marketplace for landlords and tenants to securely connect, with features including instant messaging, digital wallets, and OpenBanking.

Funds raised in this round will support marketing activity and product development – designed to nurture, retain and grow the subscriber base, boost recurring revenue, and capture greater market share.

lettingaproperty.com is on a mission to become the go-to destination for renting. Offering simple rental property management from any device, anywhere, at any time. Potential investors can find out more on the Seedrs campaign page: https://www.seedrs.com/lettingaproperty/

“With our proven business model, strong leadership team and innovative rental platform, we’re ready to scale at pace. On the back of our Mercia capital raise, we are excited to open this opportunity to the wider investment community, prove our potential to grow, and progress to the next investment round.”

Jonathan Daines, Founder and CEO, lettingaproperty.com

For more information, please visit www.lettingaproperty.com or call 0333 577 8888.

Construction, Construction News, News, Property

Homes by Esh seeks to grow supply chain with Meet the Developer event

Subcontractors are invited to meet the Homes by Esh team and learn about future work opportunities.

North of England housebuilder, Homes by Esh, is hosting a Meet the Developer event in Darlington to give local subcontractors the opportunity to join its supply chain.

The event will be held at Blackwell Grange Hotel on 31 January and subcontractors can attend any time from 15:30 until final registrations at 18:00.

Homes by Esh’s commercial, construction, customer care, design and technical teams will be on hand to ‘meet and greet’ attendees and discuss future work opportunities linked with upcoming developments.

Malcolm Stewart, construction director at Homes by Esh said: “We are passionate about investing in a local supply chain and are keen to build long-term relationships that all parties can rely on to ensure mutual success. We have a number of exciting projects in the pipeline and local subcontractors are a vital part of ensuring we can deliver for our customers.”

Subcontractors from the following traders are encouraged to attend; roads and sewers, groundworks, bricklaying, roofing, window and door installation, scaffolding, joinery, decorating, plumbing, ceramic tiling, drylining, electrical, appliance suppliers, garage door installation, mastic, cleaning, landscaping, fencing and kitchen and wardrobe installation.

Homes by Esh is a private housebuilder and part of Esh Group, a privately-owned construction, development and property services group. The firm prides itself on customer service and its range of quality homes that incorporate modern innovations in housing technology and design.

It is free to attend, but spaces are limited so a reservation should be made through the Eventbrite booking system. Book your place now: https://lnkd.in/eMq4QrSX

Law, Property

Common Mistakes to Avoid when Completing a Conveyancing Transaction

Whether buying a new property or selling your old one, conveyancing is a vital part of the process. Unfortunately, it can also be one of the most complicated and time-consuming steps. That’s why you need to understand the conveyancing process in detail and avoid common mistakes so that everything goes as smoothly as possible.

Buying a home can be an exciting and overwhelming experience. From examining the property to organising the finances and dealing with a conveyancing company, there are many different elements to consider when buying or selling a home. 

While it’s understandable that things can become overwhelming, remember that these are all steps that can’t be overlooked. As a homebuyer, you must be aware of the potential mistakes you could make when completing the conveyancing transaction.

 

9 Mistakes Most Homebuyers Make and How to Avoid them

Here are the mistakes you should avoid making while completing a conveyancing transaction:

 

  1. Not using a qualified conveyancer

The conveyancing process is highly technical, so it’s important to use a qualified and experienced solicitor to guide you through the process. Solicitors in Bingley are well-equipped to handle your transaction, so make sure you choose one registered with the Law Society.

 

  1. Failure to get the right legal advice

Your house deal can go south if you do not get legal advice before the transaction. Get advice from a qualified solicitor during the conveyancing process, as mistakes can prove costly. Make sure you ask the right questions and consider any advice given.

 

  1. Starting without completely understanding the conveyancing process

Before you begin, you must understand the conveyancing and any legal terms that relate to it. Make sure you have a thorough understanding of all of the paperwork involved in the transaction.

 

  1. Not being prepared

Many people do not prepare or organise their schedules while working on a conveyancing transaction. Make sure you have all the necessary documents and information to hand. It will help you move through the process quickly and efficiently.

 

  1. Directly going for it rather than shopping around.

Before you start the conveyancing process, people forget to shop around & get quotes from different solicitors to compare prices. Doing so hinders their overall dealing transactions. Asking for quotes helps you get the best value for your money.

 

  1. Not acting quickly

The conveyancing process can take several weeks. If there are any complications or delays, you should act quickly and keep up with deadlines.

 

  1. Not checking for hidden costs

There may be hidden costs associated with conveyancing, so check for these before you start the process. You are at a loss if you do not ask the solicitor for an itemised list of all costs. Make sure you understand every target or hidden cost before signing an agreement.

 

  1. Forgetting the Building and Pest Inspection:

People often overlook professional building and pest inspection before signing their contracts. A thorough home inspection can give you peace of mind and confirm that your property is free from structural damage or pest infestations.

 

  1. Not Reading the Contract Carefully:

Another mistake that homebuyers often make is not reading the contract carefully. You must read the agreement thoroughly and ask questions if there is anything you do not know. Never hesitate to ask for a copy of the contract to read over.

By avoiding these common mistakes, the conveyancing process goes as smoothly as possible. Solicitors in Bingley are well-equipped to handle your transaction, so make sure you choose someone registered with the Law Society.

 

Takeaway

As a homebuyer, it is helpful to be aware of these common mistakes often made during the conveyancing process. Although there is no substitute for proper legal advice, being informed always helps. Always ensure that you get appropriate guidance and ask the right questions to move through the process without complications.

 

News, Property, Property Rentals, Retirement

My Future Living adds to portfolio as demand for retirement rentals rises

Retirement living brand My Future Living experienced a 48% rise in enquiries for retirement rental properties and a 35% increase in the number of lets between July and December 2022, compared with the same period in 2021.

This follows a national trend which has seen a 110% increase in the number of households privately renting in England between 2011 and 2021 where the household lead was aged between 55-64; and up 38% for those aged 65 and over[i].

The firm, which launched in July 2021 to offer age exclusive retirement rental properties in the UK, expects strong demand to continue in 2023 as more people recognise the benefits of renting in retirement and has added new properties in England to meet demand.

 

Dominic Stead, Property Director at My Future Living said: “Since launching the business, we’ve seen growing interest from people that previously owned a home who have decided that renting is more suitable for their circumstances in later life. Many want to live in a property that is smaller, easier to manage and in a friendly and safe community.

“Renting enables people to free up capital from the sale of a home to use in retirement and they no longer need to worry about property maintenance. Our properties are all about independent living within a retirement community, with communal areas to socialise, a 24-hour careline in every apartment, as well as a development manager to support residents and run the building.

“The icing on the cake is that our properties come with assured tenancies, which means people can stay as long as they want (provided they stick to the terms of their agreement). This gives people reassurance that they don’t have to keep moving if they choose to rent and gives them the same tenure as home ownership.

“Our rents are affordable, include ground rent, services and maintenance costs, plus our properties are located in desirable retirement locations. We’ve recently added properties in some lovely locations including the southern coastal town of Littlehampton, the picturesque town of Arundel in West Sussex and the small market town of Alsager in Cheshire.”

 

My Future Living has a one bedroom first floor apartment in The Mews in Littlehampton for £975 per calendar month. This is a lovely small development of just 15 flats within an easy stroll into the town centre.

Martlets Court

Or there is a one bedroom apartment at Martlets Court,  located just a few hundred yards from Arundel’s historic town centre at £925 per calendar month, and a studio in Priory Lodge, West Wickham for £950 per calendar month.

Other new properties include apartments in Healey Court in Warwick, (pictured above) Homeshire House in Alsager and Reddleman House in Sturminster Newton in Dorset.

 

Other benefits of moving into a retirement development through My Future Living include a 24-hour emergency call system in each apartment and an onsite manager on duty. They have shared lounges and gardens to socialise in, plus events and activities are organised that people can join in with if they wish.

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

[i] https://www.lettingagenttoday.co.uk/breaking-news/2022/7/middle-aged-now-fastest-growing-demographic-in-private-rental-sector

News, Property, Property Buyer News

Only 2 key-ready Taylor Wimpey España homes available, as new 2023 show homes revealed

• Taylor Wimpey España follows bumper 2022 with new show homes for 2023
• All developments will host personal and virtual visits
• Britons remain top foreign buyers of Spanish property (Colegio Registradores)

Property sales in 2022 were so strong that leading Spanish home builder Taylor Wimpey España is going into 2023 with only two key-ready homes in stock, meaning that buyers will have to move fast if they want a home they can start using straight away. The two remaining key-ready homes – located at Sunset Ibiza (€700,000 plus VAT) and Pier 2 (€429,000 plus VAT) – are expected to be snapped up quickly in 2023.

Taylor Wimpey España is launching new show homes for 2023. The launches come as figures from Colegio Registradores show that Britons remain the top foreign buyers of Spanish property, accounting for 9.3% of all purchases by foreigners in Q3 2022. Overall, international buyers accounted for 15.9% of property purchases in Spain during the quarter.

Taylor Wimpey España will this year celebrate 65 years of building property along the Mediterranean coast, meaning the firm has plenty of experience when it comes to the value of show homes.

“A show home does much to improve the buying experience. It allows prospective buyers to see the dimensions of the property when furnished and to get a feel for its atmosphere and orientation. It allows buyers to visit and experience the property before the development is completed, while those browsing online can see photos and videos of it.”

Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España

Taylor Wimpey España’s show homes will be available for both personal and virtual visits during 2023. The firm plans to launch multiple new developments over the coming year, including in Mallorca, the Costa Blanca and the Costa del Sol.

One of the show homes open to visitors keen on buying homes in the Costa del Sol is at Marbella Lake, a contemporary lakeside development at the heart of Golf Valley, in Nueva Andalucía, just 5 kilometres from Puerto Banús. The show home delivers a flavour of the three-bedroom apartments available for purchase at Marbella Lake, which will also be home to spacious penthouses and duplexes, along with prettily landscaped gardens and four communal pools. Prices start from €690,000 plus VAT.

2023 will also see show homes open at Compass and Es Llaut, located respectively at Cala D’Or and Cala Bona in Mallorca. Both developments offer outstanding value for the island. Compass provides two-bedroom apartments costing from €313,000 plus VAT, while two-bedroom homes with large terraces (and gardens on the ground floor) at Es Llaut are priced from €330,000 plus VAT.

“2022 was a very busy year for us, with many families buying key-ready homes in which to start creating wonderful holiday memories straight away. We anticipate demand will remain strong during 2023, as we complete a string of developments along with Spanish coast and begin work on nine further launches. Our show homes will play a pivotal role in supporting buyers to find the properties of their dreams over the coming year.”

Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España

For more information, please contact Taylor Wimpey España on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

London News, News, Property, Property Buyer News

Bellway London invites Watford homebuyers to meet managing agents

Homebuyers at Bellway London’s Waterside at Riverwell development, in Watford, were invited to attend a ‘Meet the Managing Agents’ mixer, as part of the housebuilders initiative to deliver award winning customer service, even after the customers have moved in.

All customers who have purchased a new home at Waterside at Riverwell had the unique opportunity to meet staff from PBM Property Management, about the aftercare they will receive, now construction has finished and Bellway’s sales and site team will be moving off site.

The session, which was attended by over 50 residents, was held in the development’s sales and marketing suite, where light refreshments and canapes were provided.

Waterside at Riverwell is a development of 143 Bellway London homes off Thomas Sawyer Way, comprising 110 apartments for private sale and 33 affordable properties available for local people through rent or shared ownership.

PBM Property Management has now taken charge of the upkeep of the apartment buildings, the concierge service, the residents private gym and the communal and landscaped areas, including the podium gardens.

Greg Allsop, Sales Director for Bellway London, said: “We wanted to take the opportunity to host an event where the new residents of Waterside at Riverwell, could meet the managing agents in an informal environment.

“The aftercare to those who have bought a Bellway property, is really important to us and doesn’t stop once the team have moved off site. We look after our customers from enquiry through to completion and onwards. The event was clearly a well-received idea because a significant proportion of our customers turned up on the day.

“As a responsible housebuilder, we felt it was important for us to use our links with both the residents and the managing agents to bring them together and give an opportunity for people to ask any questions they might have. There are often lots of queries surrounding apartment block and estate management, service charges and living in a leasehold property, so this three-hour session enabled those questions to be answered.

“Bellway has achieved five-star builder status with the Home Builders Federation (HBF) for six years in a row because nine out of ten of our customers would recommend us to a friend. We are proud of this coveted status which comes as a result of always putting our customers first.

“This event is a perfect example of how we are trying to ensure that our buyers experience the very best level of customer care we can provide.”

Waterside at Riverwell is part of the wider Riverwell regeneration project. The scheme is a joint venture between Watford Borough Council and Kier Property to develop 70 acres of land to the south of Watford General Hospital and Watford Football Club.

In addition to providing new homes, the project includes plans for a new two-form entry primary school, community centre, flexible workspaces and more than 4.5 acres of green open space.

There’s currently only a handful of apartments left for sale at the development, with a selection of one and two-bedroom apartments available to reserve, with prices starting at £269,995 and £380,000 respectively.

For more information about the development visit https://www.bellwaylondon.co.uk/new-homes/north-london/waterside-at-riverwell or call the sales team on 01923 700486.

Business Advice, Law, Property

What are the most common causes of real estate litigation?

Real estate disputes are becoming more frequent in today’s market. Regardless of whether you are a residential property owner or a commercial real estate developer, it is highly likely you will find yourself in a dispute at some point.

The majority of real estate disputes can be settled out of court; however, litigation may be necessary if the parties involved cannot come to an agreed solution. If you do find yourself faced with a real estate dispute, it’s advised that you work alongside experienced litigation lawyers to ensure any issues are resolved quickly and efficiently.

Here we discuss some of the most common causes of real estate litigation and how you can potentially avoid them.

Failure to disclose important information

When selling a property, owners or developers must disclose any defects not fully visible that could potentially affect the value of the property. Failure to do so can lead to the buyer pursuing legal action, should they encounter these defects.

As a seller, you must be able to prove that you divulged all of the relevant information before the purchase was made, and so the defendants were well aware of the defects. Such property defects can include leaks in the property or the development of mould. If the buyer faces an unexpected cost for these defects that wasn’t their fault, you could be required to foot the bill.

Negligence and breach of duty

As a real estate agent, you have a legal duty to act in the client’s best interest and must steer clear of third parties. This means keeping all sensitive information related to the client confidential, including their financial situation.

You must also perform to the best of your ability for your clients and avoid making costly mistakes. Acting negligently can lead to your clients losing money, meaning you will be required to pay for the damages. As an example, leaving out certain information regarding the property to retain commission can lead to a lawsuit being brought against you.

Breach of contract

The buying and selling of properties always involve the signing of a contract, which includes the terms and conditions that both parties must agree and adhere to. The contract typically contains information regarding the closing date, financing and assets included in the property.

If you or the buyer fails to abide by these conditions, the other party has a legal right to sue for breach of contract. It’s vital that you carefully read every sales contract or have them reviewed by a qualified professional, who can advise you on any future red flags.

If you do come across issues concerning the real estate contract, it is always worth negotiating with the other party and finding some form of resolution outside of court.

Insurance, News, Property, Property News

Top 3 UK regions for buy-to-let landlords in 2023

Property investors head north for long and short-term ROI

Rapidly rising house prices are finally beginning to slow down in parts of the UK. However, while some might have expected traditionally more expensive regions like London to continue to outpace other areas, research compiled by Quotezone.co.uk suggests it is actually the northern regions of England where property prices are continuing to soar.

Interestingly, it is also these areas that currently have the highest yield on rent, making 2023 the year to snap up property in the North East, North West & Yorkshire for buy-to-let landlords looking to achieve both short and long-term return on investment.

Currently the North East of England takes the top spot for rising house prices, increasing at a rate of 17.3% this year, compared with London at 6.7%.  The rental yield on property in this region is also the highest, with Newcastle at 10.10% compared with just 2.3% in London.

Quotezone.co.uk has predicted the top 3 areas that will be most desirable for buy-to-let landlords looking to invest in the UK property market over the next year.

 

1. North East

Taking the top spot is the North East of England, with a house price increase of 17.3%*. Demand for rent is high in this region as hybrid-working continues to make central cities less crucial for workers, and push renters towards larger property options with rural, coastal or riverside locations.

2. North West

Although the average property price in the North West is just shy of £165,000, research shows increases are currently sitting at 16.1%. What makes this area even more attractive to buy-to-let investors is the 400,000 university students that will descend on the core cities each September. With high demand comes even higher rental yields in this region as Manchester currently sits at 9.8%.**

3. Yorkshire

Yorkshire’s popular and picturesque countryside has frequently been voted top in the UK’s ‘best places to live’ guide thanks to the great lifestyle the nature, culture and festivals have to offer its inhabitants. In 2021 Yorkshire house prices jumped to their highest in decades and in 2022, research suggests prices are currently rising at a 15.1% rate, with a yield of 9.2%***

 

Greg Wilson, Founder of property insurance comparison site Quotezone.co.uk comments: “As property prices slow in London, buy-to-let landlords should look to areas like the North East, North West, and Yorkshire when trying to maximise their return on investments. These areas are booming, and as more people flock to the north, there’s little sign of it slowing down.

“Although the buy-to-let market has been gathering pace, it’s wise to beware of recent pressure from tax increases, interest rate spikes and EPC reforms – which will require some landlords to make costly energy efficient updates to their property.  This will contribute to a squeeze in landlord income, so it’s essential that they take all the necessary precautions such as insurance, to help avoid any additional unexpected costs. Policies that include ‘rent guarantee insurance’ can also cover them if a tenant stops paying their rent.”

 

Quotezone.co.uk helps around 3 million users every year find savings on everyday household bills and essentials, with over 400 providers across 60 different products including niche items such renters insurance, landlord insurance and buy-to-let insurance.