The Daventry Property Blog

02/01/2024

WHEN IS THE RIGHT TIME TO UPSIZE TO A BIGGER HOUSE?

As we move into a new year, this tends to be a time that we all reassess our lives. Life unfolds and circumstances change, so do our housing needs. There comes a time when your current home may no longer accommodate your growing family, evolving lifestyle, or aspirations.

The decision to upsize to a bigger house is a significant milestone, and knowing the right time to make this move is essential.

At Chelton Brown, Northamptonshire's trusted property sales and letting agent, we understand the importance of finding the perfect home for every stage of life.

Here are some key indicators that it may be the right time to upsize:

Growing Family
One of the most common reasons to upsize is a growing family. As your family expands, you may require additional bedrooms, living space, and a larger garden for children to play. If you find your current home feeling cramped or lacking the necessary amenities to support your family's needs, it might be time to consider a bigger house.

Change in Lifestyle
Changes in lifestyle can also prompt the need for more space. Perhaps you've started working from home, requiring a dedicated office space, or you've taken up new hobbies that demand extra room. Assess your lifestyle and identify if your current home can cater to these changes. If not, upsizing can enhance your daily living experience and provide room for personal pursuits.

Increase in Income
A boost in income can open doors to new possibilities in the property market. If your financial situation has improved, upsizing to a bigger house may become a viable option. A larger property can offer improved comfort, added amenities, and increased property value, making it a wise investment for the future.

Long-term Goals
Consider your long-term goals when contemplating an upsizing decision. Are you planning to have more children, or do you envision hosting family gatherings and entertaining friends? A bigger house can accommodate these aspirations and provide the space you need for life's significant moments.

Equity and Property Value
If your current home has experienced a significant increase in equity and property value, it may be an ideal time to capitalize on this growth and invest in a larger property. Upsizing now could potentially lead to more favourable financial outcomes in the long run.

Favourable Market Conditions
Keep an eye on the property market conditions in your area. If there is a healthy supply of larger houses and competitive interest rates, it could be a favourable time to explore upsizing options. Consult with me, one of the expert agents at Chelton Brown to gain insights into the local market and explore available properties.

Upsizing to a bigger house is a decision that deserves careful consideration and expert guidance. I am here to support you every step of the way, ensuring you find the perfect home that aligns with your evolving needs and aspirations.

I can offer you personalized service and extensive knowledge of the Northamptonshire property market, making your upsizing journey a seamless and rewarding experience.

Contact me today to arranger a confidential chat and take the first step towards a bigger and brighter future.

David Hawes 07904036845 or [email protected]

31/10/2023

CONVEYANCING TIPS: HOW TO FIND THE BEST SOLICITOR/CONVEYANCER TO HELP YOU MOVE

Once you’ve found your perfect property to purchase, you’ll need to find a conveyancing solicitor to handle the transaction, unless you already have one lined up.

Finding a reliable and trustworthy conveyancer needn’t be a stressful task though, as long as you do some research and ask the right questions.

Here are some tips to help you find the best conveyancer.

1. Ask family and friends for recommendations
This is the number one action you can take to ensure you find the best conveyancing solicitor. If you have family or friends who have moved in the past couple of years’, then ask them who they used and how much it cost.

Even if they don’t recommend their conveyancer, it will help you know who to avoid and you’ll still be able to get a rough idea of the cost involved.

2. Ask your estate agent for a recommendation
Most estate agents have conveyancer contacts and will be able to recommend or refer one to you. It’s important to bear in mind that you shouldn’t feel pressured into going with their recommendation, therefore, make sure you do your own research on the recommended conveyancer to check if they’re someone you’ll want to do business with.

3. Don’t automatically go with the cheapest quote
This is KEY decision and should never be done on cost alone. Buying a property is an expensive process and it’s tempting to cut costs wherever possible. However, as the old saying goes, ‘If something seems too good to be true, it probably is.’

A quick Google search will throw up plenty of conveyancing services for as little as £150-£200. These kinds of services are usually fraught with danger, where corners are routinely cut, and avoidable delays are part of the process due to the mountain of cases they’re trying to manage at once.

And while you might get lucky and find a great one, you generally get what you pay for, so it’s best to look for two or three quotes from reputable solicitors to get a more accurate idea of cost. Bear in mind too, that there can often be lots of hidden costs in the small print, which end up amounting to the cost of a reputable conveyancer anyway.

Something else to consider is that saving money immediately could end up costing you a lot more in the long-term.

Because the cheapest conveyancers will often cut corners to plough through cases, they’re more likely to miss things that can come back to bite you in the future, such as covenants, or environmental concerns related to your property.

So do your research, and don’t get sucked in by the price.

4. You don’t have to stay local
You can choose a conveyancing solicitor who’s based anywhere in the country, so you’ll have a very wide pool of solicitors to choose from.

Many people wrongly believe that a conveyancer needs to have ‘local knowledge’ of the area, but this isn’t the case at all.

If the property purchase is straightforward then you don’t necessarily need to meet your conveyancer in person.

If it’s a more complex purchase, for example where an existing boundary is to be altered, or a property is being divided then it may be easier to find someone local who may wish to visit the property.

However, in most transactions the conveyancer is unlikely to set foot in the property, so you will have a lot of choice.

5. Ask plenty of questions
When contacting prospective conveyancers, don’t be afraid to ask lots of questions to help you feel comfortable. First and foremost, you’ll want to know if they are registered with The Law Society or The CLC.

It’s also important to choose a law firm that specialises in conveyancing, so find out how many transactions they’ve carried out and how experienced they are when it comes to property law. After all, there’s no point looking at a solicitor who specialises in divorce to handle your property transaction!

A good conveyancer will help your transaction to run as smoothly as possible and keep you informed of any hiccups promptly. They’ll also be easy to contact and have a direct phone number and email address to reach them on.

So, when you’re doing your research, find out if you’ll have one contact assigned to you who’s going to be easy to get hold of. It will make for a much smoother transaction in the long run.

Looking for a conveyancer for your next property transaction? Feel free to contact me to discuss things further; David Hawes by call/text/WhatsApp on 07904036845 or email [email protected]

24/10/2023

COUNTING THE COSTS: A COMPREHENSIVE GUIDE TO MOVING HOME IN THE UK

Introduction:
Moving home is an exciting yet daunting endeavour. Amidst the thrill of a new beginning, it's crucial to be fully prepared for the financial implications that come with it. From the big-ticket expenses to the often-overlooked smaller costs, this comprehensive guide will provide you with an in-depth understanding of all the financial aspects you need to consider when moving within the UK.

1. Estate Agent Fees:

Cost: Typically 1-3% of the property's sale price.

Explanation: When selling your current property, you'll need to pay estate agent fees for their services. This cost can vary depending on the agent and the agreed-upon percentage or fixed fee. Usually, but not always, this is paid through your chosen conveyancer at the time of the completion of the sale.

2. Conveyancing Fees:

Cost: £500 to £2,000 or more.

Explanation: Conveyancing is the legal process of transferring property ownership.
Solicitor or conveyancer fees cover the legal work involved in buying or selling a home.

3. Stamp Duty:

Cost: Varies based on property price and location.

Explanation: Stamp Duty Land Tax (SDLT) is a tax paid on properties over a certain price threshold. Rates differ across the UK, so it's essential to check the specific rules for your area. There are a number of SDLT calculators available online.

4. Removal Costs:

Cost: Around £300 to £2,000 for a local move, more for long-distance.

Explanation: Professional removal services help transport your belongings from your old home to the new one, saving you time and effort.Do make sure you use a professional removal company and that your goods are insured while in transit or storage.

5. Mortgage Fees:

Cost: Can range from £0 to over £3,000.

Explanation: Mortgage arrangement fees, valuation fees, and broker fees can all contribute to the overall cost of securing a mortgage.

6. Survey Fees:

Cost: Varies from £250 to £1,500 or more.

Explanation: Surveys, such as Homebuyer's Reports or Building Surveys, provide a detailed assessment of a property's condition. The cost depends on the type of survey and property size.

7. Deposit:

Cost: Typically 5-20% of the property's purchase price.

Explanation: Your deposit is a significant upfront payment, often required to secure your mortgage. The size of your deposit affects the mortgage rate you can secure. I would recommend that you start a conversation with a good independent and whole of market mortgage broker sooner rather than later. Your mortgage broker, conveyancer and the agent you buy through are going to want ID and to know the source of any deposit you are putting down to comply with current HMRC anti-money laundering legislation.

8. Mortgage Insurance:

Cost: Variable.

Explanation: Mortgage insurance, including Mortgage Payment Protection Insurance (MPPI) and Life Insurance, provides financial security in case of unexpected events such as illness or death.

9. Utility Connection Fees:

Cost: Varies depending on providers.

Explanation: Don't forget to factor in costs for connecting utilities such as gas, electricity, water, and broadband to your new home.

10. Council Tax:

Cost: Varies based on property location and band.

Explanation: Council Tax is an ongoing expense, and the cost varies depending on the local authority's rates and your property's band. All agents need to declare the Council Tax band on their brochures and online. The exact amount you will pay can be found online with the local authority. If you are going to live alone, there is usually a discount available.

11. Insurance:

Cost: Variable.

Explanation: Consider home insurance, contents insurance, and mortgage protection insurance to safeguard your investment and possessions. Do get quotes from a qualified insurance broker and that you have adequate cover for both your goods and chattels along with re-build costs for the house.

12. Moving Supplies:

Cost: Around £50 to £500.

Explanation: Boxes, packing materials, and tape are necessary for packing your belongings securely. These can be bought from a number of outlets including storage companies.

13. Cleaning and Maintenance:

Cost: Variable.

Explanation: Prepare for cleaning costs for your old and new homes. You may also need to budget for maintenance or repairs.

14. Storage Costs:

Cost: £100 to £500 per month.

Explanation: If there's a gap between moving out of your old home and into the new one, storage costs may apply.

15. Travel and Temporary Accommodation:

Cost: Variable.

Explanation: Expenses for travel to view properties and potential temporary accommodation if there's a gap between selling and buying.

16. Land Registry Fees:

Cost: Varies based on property price.

Explanation: The Land Registry charges a fee for registering your property under your name. This is usually part of the costs you would pay to your chosen con

17. Parking and Moving Permits:

Cost: Varies depending on location.

Explanation: In urban areas, you may need to obtain parking or moving permits to facilitate the move.

18. Change of Address Costs:

Cost: Variable.

Explanation: Updating your address with various institutions, such as banks, utility providers, and government agencies, may incur fees.

19. Pet Care Costs:

Cost: Variable.

Explanation: If you have pets, consider their welfare and any expenses related to this care during the move.

20. Final Clean-Up:

Cost: Variable.

Explanation: A final clean-up of your old home is essential before handing over the keys.

Conclusion:
Moving home in the UK involves a multitude of expenses, both substantial and minor. It's crucial to account for all these costs when planning your move to avoid any financial surprises. Careful budgeting and thorough research will ensure a smooth transition to your new abode, allowing you to focus on the excitement of a fresh start in your new home.

Please note: the costs mentioned above are just rough averages based on our experience, please contact us for more accurate estimates for a specific move.

If you are thinking of moving and want any advice or to discuss any aspects of this blog, do contact me. [email protected] or call/text/Whatsapp 07904036845

16/09/2021

NEW BLOG: 8 THINGS EVERY LANDLORD SHOULD KNOW!

Whether you’ve just bought your very first property in Daventry or your fifth, being a landlord is a role where you can continually keep learning new things and facing new challenges. Other than keeping abreast of what’s happening in the property market, you also need to ensure that you’re fol...

19/04/2021

NEW BLOG - WHAT SHOULD I DO WHEN A TENANT WON'T PAY RENT?

You thought you’d found the perfect tenants, but then you realise that they haven’t paid their rent. What should you do? • First, communication is key. Always check the day after rent is due to make sure it is in your account. If it’s not there, contact them straight away. There could be a ...

19/04/2021

NEW BLOG - WHAT IMPACT WOULD A CHANGE IN CAPITAL GAIN TAX HAVE ON THE PROPERTY MARKET?

We spoke to some Members agents of The Guild of Property Professionals about the impact a Capital Gains Tax (CGT) increase could have on the property market. According to Joe Gervin, Director and In House Solicitor at LPS Real Estate, Liverpool, the tax changes would have a significant impact on lan...

12/04/2021

NEW BLOG - DOES DIRECT MAIL MARKETING STILL HAVE A PLACE IN TODAY’S DIGITAL WORLD?

Saying that 2020 changed the way many companies do business is a massive understatement. Pivoting their strategies, businesses evolved and adapted to a new way of working with many people now working from home for the foreseeable future. With the adaption, we saw a surge of digital products and serv...

05/04/2021

NEW BLOG - 95% MORTGAGES: EVERYTHING YOU NEED TO KNOW.

Since March 2020, low deposit deals have virtually disappeared from the mortgage market, hitting first-time buyers hard, as well as those with low levels of equity in their property. During the COVID-19 pandemic, lenders saw these deals as high-risk and withdrew most of their offerings. The Governme...

29/03/2021

NEW BLOGS - GOOD TENANTS, BAD TENANTS... AND AMATEUR LANDLORDS!

A recent report by a leading Insurance Company claims that one in seven tenants break the rules of their leasing agreements.The most common offences include a failure to pay rent on time, smoking and keeping a pet; but perhaps of even more concern is that it is claimed that one in eleven (or almost....

22/03/2021

NEW BLOG - 5 MOST COMMON HOME SURVEY PROBLEMS AND WHAT TO DO NEXT!

Are you in the process of buying a property and are wondering about getting a survey? Don’t make the mistake that far too many homebuyers still make, thinking it’s an unnecessary expense. A study carried out by the Royal Institution of Chartered Surveyors (RICS) revealed that those who didn’t ...

09/08/2020

NEW BLOG: NEW RULES FOR POSSESSION PROCEEDINGS.

Since 27 March, all new and existing possession proceedings against residential tenants have been stayed. Initially the stay was brought in for a period of 90 days, however, the Government announcement in June that the stay would be extended until 23 August 2020.  With just over a month until the e...