Bill Tandy property update

This month, we discuss the recent breaking news about the changes regarding Stamp Duty payments, we look at whether there is likely to be a crash in the housing market, how to determine the value of your home, the changing demographics of tenants, and top ways to improve the busiest room in your home - the kitchen!

Have you considered selling your home? Book an appointment with Bill Tandy for a valuation now!

We're also providing you with some bespoke pieces from our blog. We cover the renovations that are worth investing in, and as the darker nights set in, and the days shorten, we look at how you can bring nature into your home.

We hope you enjoy this month's edition of our newsletter.

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Renovations worth investing in

If you’ve lived in your home for a number of years, it may be time to relish in the opportunity to improve, extend, redecorate or redesign. Whether you plan to stay or someday sell, we’ve gathered a list of renovations that are worth investing in.

Click here to read Renovations worth investing in.

How to introduce nature to your home

Amidst the hustle and bustle, you may find yourself feeling out of touch without the beauty and freshness of nature in your surroundings. Here are some tips to help you feel better connected with nature for your home.

Click here to read How to introduce nature to your home.

Eco Friendly Homes Playing an Important Role

Climate change has received immense attention recently with urgent calls to reduce the contributing factors to carbon emissions, rising sea levels, and rising temperatures. The UK has committed to reduce its CO2 emissions to net zero by 2050; and this commitment cascades to all markets, including property. This commitment is a great achievement for the UK, with it being the first first-world country to pass law to such a commitment.

Sadly, the amount of greenhouse gasses produced from heating properties has increased since 2014. Heating our homes accounts to a staggering one seventh of overall UK emissions. Our increased use of fuel can be resultant from heat escaping from properties through walls, windows and ceilings during winter. Luckily, the Government have called an end to the rise in fuel consumption and are devising a plan to battle the emissions producing more energy efficient homes. They are behind an initiative called Future Homes Standard, which is planned to be in full operation by 2025.

Having more energy efficient homes is a great ambition for all. It will lead to lower carbon emissions, reduced energy bills, and upgraded housing. In 2025, all new build homes will have to abide by the initiative to have clean technology to heat homes instead of the current fossil fuel burned for gas boilers. The construction sector and developers are at the heart of this revolution with their designs crucial to meeting this goal.

The Housing Minister, Esther McVey, said that “industry has told us some homes built using modern methods can have 80% fewer defects and heating bills up to 70% lower. Homes built using modern methods can be of higher quality, greener and built to last. I want to see a housing green revolution.” 2020 is set for an environmental transformation, with the property market a strong contributor to this.

Easter Eggstaraganza

Saturday 4th April

Follow the Woodland Trail to find the Easter Bunny who's giving everyone free chocolate.

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Things to consider before putting your home on the market

Deciding to sell your most valuable asset – your home – is an exciting moment. It can also feel a little daunting. However, you can prepare your property for success, even before launching to the market. Have you ticked any of these steps off your list yet?

1. Declutter

The chances are you have collected plenty of unwanted items over the years – from clothes and shoes to defunct mobile phones and old paperwork. By decluttering now, you’ll not only save on moving boxes, but also make your home more appealing to viewers.

2. Spring clean

Once floors, shelves, surfaces, and wardrobes are clear, pull out your furniture to dust and vacuum, hire a carpet cleaner, and make those bathrooms gleam. If you have pets, remove any tell-tale odours or hair from the carpets and sofas. 

3. Refresh your décor

Neutral colours may seem boring, but they give viewers a blank canvas to adjust to their taste. As well as this, your home will also appear brighter and bigger. Pops of colour or designer wallpaper on a feature wall can add interest, but less is more. If your design scheme is already on point, just make sure you touch up any tired paintwork.

4. Tackle the to-do list

Leaky taps, cracked walls, chipped tiles, and loose fittings can give your home a neglected appearance. This could leave viewers wondering what other issues they may encounter once they move in. If necessary, hire a professional to complete any lingering projects.

5. Assess the lighting

Poor lighting can make the most charming room appear dark and uninviting. A few well-placed lamps can help – just remember to stock up on lightbulbs too.

6. Prepare for viewings

Help potential buyers imagine themselves in your home by paring back on personal items such as family photos, magazines, and toys. Get ready to stage your home too – think crisp prop towels for the bathroom, new linen and cushions for the bedrooms, and fresh flowers or houseplants.

7. Boost kerb appeal

We all know that first impressions count. If you have a front garden or drive, make sure it’s clear of debris and freshly weeded or mowed. Attend to any broken or missing roof tiles and damaged guttering, and think about cleaning windows and repainting the exterior.

8. Consider storage options

If you have a lot of furniture or treasured belongings, why not put some into storage? This will help you clear the decks and get your home ready for staging and viewings. It could also come in handy when you move.

9. Research potential estate agents

Now that you have given your home some TLC, it’s time to shortlist a few local estate agents. Pay attention to the marketing the agent provides for their current listings and follow your gut. While the big names may tempt you, don’t rule out smaller independents who may offer a more personal service.

10. Get your home valued

Before you make your final decision, it’s a good idea to invite a handful of agents to value your home in person. This is your chance to find an achievable price point for your property and get a feel for the people who will be representing it.

Our team are always here for a no-obligation chat. Contact us today.

Are we going to experience a crash in the housing market?

With house prices seeming to be coasting along a rising trajectory, it’s no wonder many are starting to assume that what goes up must come down. But should we expect the bottom to fall out of the housing market anytime soon?

A recent assessment by Zoopla showed that house prices and sale numbers are expected to continue slowing in 2022, partly due to the cost of living. However, high buyer demand is keeping the value of a typical UK house above the 5-year price rise average.

Lifestyle changes brought about by the pandemic explain some of this stability, with flexible working arrangements, early retirement, and changing priorities still encouraging people to move. Additionally, rising interest rates will prompt many approaching the end of a generous fixed term to lock in a lower mortgage rate by moving now.

Stricter rules around lending have also strengthened the price bubble, putting the market in a different position than when we last saw a crash during the 2008 financial crisis.

This is all excellent news for sellers, but is this slow-but-steady rise reflected in other areas than traditionally strong markets such as London and the South East?

Zoopla’s House Price Index does show that house values are evening up across the UK, with the biggest gains most apparent at the lower end of the market. Therefore, homeowners in hotspots like Wales, the South West, and the Midlands are also benefitting from the moving trends that have developed over the past few years.

Right now, the average UK house price stands at £256,600. However, certain cities and regions are seeing steeper increases, so booking a valuation is the only way to know exactly how much your home is worth.

Get in touch today to arrange a no-obligation valuation.

*Date based on Zoopla’s August 2022 House Price Index

How to determine the value of your property

In our experience, choosing an appropriate asking price can make the difference between your home achieving a fast sale and being left on the shelf, but getting this process right requires careful consideration and a deep understanding of local and national markets.

While it’s natural to try and squeeze as much as possible from your most valuable asset, you might find yourself waiting longer for a buyer than your competitors if you’re asking significantly more for your property than similar homes in the area.

On the other hand, we know that a lower asking price could result in you losing out – and may even leave viewers assuming there must be a reason your home is worth less.

Online browsers also might not see your listing in their search results if you’ve set the asking price slightly above or below the relevant price bands. For example, a buyer with a budget between £250–300K may not spot your £249,999 home because the filters tend to rise in increments of five, ten, twenty-five and fifty thousand pounds.

Luckily, property portals such as Zoopla and Rightmove can help you get a rough idea about the right price for your area. Both provide tools for checking how much homes have sold for in and around your postcode. You can even get an estimate based on your property’s previous sales history and current market data.

However, no online tool can factor in any improvements you’ve made since owning your home or judge its special features, history, or character. Lovely views and an exclusive setting could also up the value, so an in-person valuation is indispensable.

We’re always on hand to provide tailored advice so you can achieve the best possible result.

Want to find out how much your home is worth? Book a valuation with us today.

110% increase in renters aged between 55-64

While rising house prices have led many younger people to rent for longer before buying their first home, tenants aged over 35 are the fastest growing group.*

In the decade between 2011 and 2021, the number of households privately rented to those between 45 and 54 years old increased by 50%, while renters aged 65 plus rose by 38%. However, the biggest hike was seen in those aged between 55 and 64 (110%).

But, what’s driving this changing attitude towards homeownership in the older demographic? While owning property comes with perks such as security, the increasing state pension age and rising bills have encouraged many homeowners to free up equity to enjoy a better standard of living during their golden years.

Those wishing to move into a retirement community, may also benefit from assured tenancies, which partly replace the security of owning a home. This is because as long as these tenants stick to the terms, they can normally stay for life.

Those who’d like to enjoy communal gardens and facilities, without the upkeep, or who can no longer cope with maintaining or running their current property, may also be attracted to this type of lifestyle.

A strong rental sector is good news for landlords. If you’re interested in assessing the value of your rental, or would like it fully managed on your behalf, we can help.

*Data from Paragon Bank (England: 2011–22).

Top tips to improve the busiest room in your house

They say it’s the heart of the home – and we agree. It’s the natural gathering point for family and friends and a sanctuary of sensory pleasure for the cooks and bakers among us. We are, of course, talking about the humble kitchen.

Generously sized or compact, if your kitchen doesn’t work for your lifestyle, the flow of your whole home can suffer. A stylish, functional kitchen is also a big draw for buyers, so investing a little time or money here could pay dividends if you intend to move one day.

But where should you begin? Start by analysing the layout. Perhaps your kitchen is long and narrow, or an unusual shape. Also think about any chimney breasts, windows, or sloped ceilings that could be incorporated into the design, or may influence how you can organise the space.

Once you have assessed the room’s benefits and limitations, you could consider starting again from scratch by commissioning a bespoke kitchen designed around its natural features as well as your personality and needs.

For example, smaller kitchens might benefit from clever pull-out storage, while concealed appliances and bins could add serenity to a busy family kitchen. If your budget doesn’t stretch that far, you can still improve how the space is used by adding pan rails, extra shelving, a butcher’s block and storage solutions such as hooks and drawer organisers.

Other simple ways to improve your kitchen include painting the cupboards to contrast with your worktops or flooring, and installing a variety of lighting that works at different times of the day. While downlights are often popular, hanging pendant lights and table lamps can also create an inviting and sociable atmosphere.

For more advice about improving your home – especially if you intend to sell soon contact us for expert advice today.

BREAKING NEWS: Stamp Duty changes

Following many meetings over the last month, it has been made known that the PM has been working on a new idea with Chancellor Kwasi Kwarteng, to revive the property market.

The chancellor anticipates that by reducing Stamp Duty tax, more homeowners will market their houses, and more first-time buyers will climb the housing ladder and pay a down payment.

Before the change, stamp duty wasn't due on the first £125,000 of any house purchase; it will now not be due on the first £250,000.

The current first-time buyer exemption from paying stamp duty on the first £300,000 will be raised to £425,000.

The value of the house needed for first-time buyers to be eligible for assistance, has increased from £500,000 to £625,000. As a consequence, 200,000 more people will no longer be obligated to pay stamp duty whatsoever.

The decrease in stamp duty is permanent and came into effect Friday 23rd September.

Are you interested in learning how these changes could benefit you?

Mad Hatter's Tea

Thursday 9th April

Enjoy an afternoon tea in the school holiday's with fun, craziness, singing and dancing.

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Wedding Open Day

Sunday 19th April

If you are planning a wedding for 2020 or 2021 this wedding day is a perfect chance to see dressed rooms.

Click here to read Wedding Open Day.