New year, new home: Now is the time to make the move
According to a study by the National Association of Estate Agents this week, there are now more than 10 buyers for each property for sale in the UK. Mortgage approvals are now at the highest level since March 2016 so perhaps moving in the new year is a good idea.
If you are planning to move, there are a lot of options from renting to buying, it’s important to find the right home for you. New Build
New-build homes are a great option whether you’re a first-time buyer or have a growing family.
New-build homes are appealing to home-buyers for a number of reasons.
Firstly, many people like the fact that they will be the first to live in the property.
Repairs and redecoration costs should be minimal for the first few years. Buyers can often select fixtures and fittings to tailor the property finish to their taste.
New properties usually come with guarantees but some come with warranties and insurance for new homes.
Homeowners can enjoy lower running costs and energy bills.
Just like a new car, a new-build house will depreciate in value the minute you turn the key in the door. Even in a rising property market you may not get your money back if you have to sell within a year or two.
To tackle this depreciation: Compare the new-build home you are looking at to similar old properties in the area in terms of value, space and rental value.
Check the price per square foot, and compare it with the resale market so you understand the extent of the premium you will be paying.
Negotiate with the developers.
Find out on Zoopla or Rightmove what other properties on the site have fetched. There can often be deals to be done at the end of their financial year, or when there are only a few properties left to be sold.
Shop around for good deals. Many developers offer incentives such as free furnishings, a parking space, or paying your legal fees or stamp duty.
If you can’t negotiate money off the price, the offer to pay your stamp duty is probably the best freebie to take up as it will probably save you the most, but be aware that any incentives offered by the developer over about 5 per cent will impact on how much your lender will be willing to hand out.
Plan to stay put for a few years. Future proof your purchase by ensuring it fits with your personal plans for the next few years. Could your new partner move in? Could you comfortably fit a baby in?
Think about adding value. When buying think about whether there is scope to add value in the future – a conservatory on the back, or a landscaped garden or loft conversion.
You may not be able to afford it now, but it may be an option in the future to make your home an attractive proposition to a future buyer who wants to add value.
Static homes
Have you ever thought about owning your very own caravan?
More and more people are opting for UK staycations rather than venturing abroad and what better way to guarantee taking regular holidays than a caravan?
Static caravans are also known as holiday or second homes due to their function and are certainly still popular.
You don’t have to look far to find a static caravan park – they are all over the country – like Muirkirk Caravan Site in Ayrshire, near popular tourist attractions, or in the depths of the countryside. Whichever area you favour for a second home, there is likely to be a static caravan site to suit you.
And while you can buy a secondhand one there is something ultimately satisfying, of course, in buying new and in the knowledge that you are the first owner to enjoy all that your caravan has to offer.
If you are buying new, you are almost certain to enjoy the advances in design and technology that are likely to mark out your freshly manufactured static caravan from the crowd.
You may be able to buy a brand new caravan already pitched on a site of your choosing or buy direct from a manufacturer and arrange delivery to the host site.