Author Archives: Phil

Successful house hunting wrapped up for Christmas

OnlineThis Christmas, once youÔÇÖve opened the presents and eaten the turkey, thereÔÇÖs only one thing left to do ÔÇô and itÔÇÖs not watching the QueenÔÇÖs speech, apparently! Christmas is one of the busiest times for viewing new homes online, so if youÔÇÖre planning to peek at properties in between all those parties and family visits, read on!

Property search and acquisition specialist The Buying Agents has compiled a homebuyersÔÇÖ checklist and its top five tips for successful house hunting ahead of the festive break. The advice follows last weekÔÇÖs Autumn Statement, after which The Buying Agents predicted that the market will now pick up at a considerable pace following chancellor George Osborne’s decision to implement ÔÇ£buyer friendly stamp duty changesÔÇØ.

Established in 2001, The Buying Agents is one of the UKÔÇÖs leading property finders, with seven offices in London and the Home Counties. Managing director Henry Sherwood said: ÔÇ£The seasonal slowdown could well be counteracted by the new sub ┬ú1m stamp duty changes. Therefore, buyers need to be prepared if the market takes off again in the new year. The slow holiday period is the ideal time to reassess your position and prepare yourself for when the market picks up.ÔÇÖ

ÔÇ£No one can predict the market will re-start before the impending interest rate rise and general election, so you need to be prepared. There is still pent-up demand from buyers and the changes in stamp duty could create┬ápotential for another property boom below ┬ú1m in 2015. Following a simple set of basic rules can ensure you gain a significant competitive advantage and are quicker off the mark than Lewis Hamilton come the first week of January!ÔÇØ

self-buildThe Buying AgentsÔÇÖ 5 tips for successful house hunting:

  1. Re-assess your requirements. While the property market quietens down, take a moment to write a list of what you really need from your next move. Cross out all the ÔÇ£nice to havesÔÇØ and concentrate on the essentials. You will get estate agents working much harder for you if it doesnÔÇÖt take a long time to list your requirements and you can be clear about what you want.
  2. Choose your team carefully. Ask friends to recommend mortgage brokers as well as lawyers and surveyors. When you speak to a broker, be honest about income and expenditure – the changes brought in by the Mortgage Market Review mean that lender criteria is far stricter than before and you will now need to provide a greater amount of detail about your financial circumstances.
  3. Set up portal alerts. With the Christmas break being one of the busiest periods for viewing property online, itÔÇÖs a good idea to set up alerts now to give you a head start before the January viewing ÔÇÿrushÔÇÖ kicks in.┬á The two biggest property portals will list 95% of all property, so set up alerts with both before Christmas!
  4.  Record and research. List every property from your alerts on a spreadsheet in order to build a comparable database, helping you identify the accurate market value for properties that are of interest to you. Input the price and square footage to gauge the price of homes you like; you can usually do this before you view if a floorplan is available.
  5. Pick up the phone. DonÔÇÖt waste your time emailing estate agents. If you donÔÇÖt pick up the phone to speak to the negotiators, you will always be the last person on their list to contact when a new property becomes available. Always call in the morning when agents are likely to be in the office and not out on viewings

HomebuyersÔÇÖ checklist:

  • Get an Agreement In Principle (AIP)
  • Ask friends and colleagues to recommend solicitors
  • Research surveyors and survey types
  • Assess (or re-asses) your requirements
  • Set up portal alerts
  • Record all property on a spreadsheet
  • Know the local prices
  • Conduct area checks upfront
  • Be prepared to offer BEFORE you view
kebony-wood

Isn’t it good? Judges love Norwegian wood!

kebony-woodAn eco-friendly, high-performing wood used in projects from seafront buildings to cutlery is causing a stir in the design world! Norwegian sustainable wood provider Kebony has scooped the product innovation prize at the Architectural Products awards, which honour innovation in buildings-related products.

Kebony, which has been used in projects as diverse as the Mary Rose museum, HunterÔÇÖs Point in New York, an eco-home in Norfolk and even a set of minimalist cutlery, was recognised for its extraordinary innovation in the development of timber-clad technology. Suitable for both internal and external use, Kebony products ÔÇô such as decking, flooring, cladding, roofing, windows, indoor and outdoor furniture ÔÇô are high-performance without compromising on style. The latest accolade follows two wins at the Best Business Awards and a host of other nominations for global prizes.

kebony-cutleryKebony is made by using furfuryl alcohol, a by-product of farming of sugar cane, to transform sustainable soft woods such as pine into durable woods. The material has been shown to have a substantially lower carbon footprint than hardwood equivalents and can be used in commercial, residential, public and marine projects. The Architectural Products award is another indication that the company is going from strength to strength and is increasingly proving the choice of leading architects and developers who want to use wood in projects without causing environmental degradation.

KebonyÔÇÖs international sales director Adrian Pye said: ÔÇ£We have observed an increasing demand for an environmentally friendly high-performance wood with the attributes of the best tropical hardwoods. Innovation is at the very core of KebonyÔÇÖs functionality and what sets it apart from other treated timber products.ÔÇØ

kebony-kenyaArchitectural Products Magazine editorial director Jim Crockett said: ÔÇ£Building on the success of last yearÔÇÖs program, our fourth edition of the awards proves commercial building manufacturers are committed to, and are working arduously toward, delivering more sustainable products, as well as products that deliver better performance, life and affordability.ÔÇØ┬á

Under the Architectural Products awards program, a group of 50 independent industry professionals impartially review products and award those which pose a creative and rational solution to the everyday problems faced by workers in the industry.

Photos courtesy of thecommunicationgroup.co.uk

home-building

It’s home and away for would-be buyers!

home-building

A lack of affordable housing in the UK is leading Brits to think outside the box when it comes to owning their own place ÔÇô including considering emigration, buying a barge and even buying with strangers!

With the housing market seeming out of reach for an increasing number of people, new research shows the drastic measures Brits are prepared to take to get their foot on the property ladder. Options considered now include buying with work colleagues, buying a static caravan and co-owning with parents, rather than facing years of renting with no return at the end.

Latest official figures show that UK population growth has exceeded the number of new dwellings completed by more than double*. From mid-2012 to mid-2013 the population grew by 400,624, yet just 134,460 dwellings were completed in the same period. Research** conducted by comparison website Gocompare.com in response to these stats shows the lengths some of the UKÔÇÖs five million aspiring home owners will go to in order to get their name on a mortgage:

  • Almost one in three – 30% – would apply to the governmentÔÇÖs Help to Buy scheme, which provides equity loans to first-time buyers and movers buying new-builds in England
  • One in five – 20% – would consider emigrating
  • 15% would buy with friends
  • 14% would buy a microhome, a small house usually pre-manufactured and ready for self-assembly
  • Almost as many ÔÇô 13.5% – ┬áwould buy a static caravan
  • Buying with parents as joint applicants is an option for 12%
  • Nearly one in 10 would buy a canal boat or barge
  • One in 20 would buy with colleagues from work whilst three per cent would risk buying with a stranger!

self-buildAmongst would-be expats, English-speaking countries such as the USA, Australia and New Zealand come top of the destination list. Men are more likely than women to think about a move overseas and, perhaps unsurprisingly, young adults aged between 18 and 24 are more likely to consider emigration than any other age group.

Gocompare.comÔÇÖs mortgages expert Matt Sanders said: ÔÇ£A lack of affordable housing has resulted in a property market that is closed off to an increasing number of would-be homeowners. As such, itÔÇÖs hardly surprising that many people feel like they may have to take some rather drastic steps to own a home.

ÔÇ£If youÔÇÖre actively looking to buy a home, itÔÇÖs well worth seeking advice from a qualified, impartial mortgage broker, who can give you an idea of what you can afford and the options available to you.ÔÇØ

* Sources: www.gov.uk / www.ons.gov.uk
** Gocompare.comÔÇÖs research was conducted online by OnePoll in August 2014 with 2,000 adults who are looking/would consider buying a home