selling Archives - Newton Huxley

Thinking of selling soon? We'd love to help: BOOK A VALUATION

A well thought out ground floor layout includes an entrance hall, a study/playroom, utility room, modern shower room, a good size living room and a beautiful open plan kitchen/dining/family room, finished to a high standard with doors to the landscaped garden.

First floor accommodation delivers four well-proportioned bedrooms, and a desirable family bathroom which includes a bath and a separate shower.

Outside the property there is the large rear garden which is Southerly facing and to the front is a paved driveway offering parking for 2 cars.

Viewings are highly recommended to appreciate the size, setting and quality of finish available with this family home. Call Newton Huxley Estate Agents today to book your appointment to view.

More details and online booking

Our sales team did a fantastic job selling this property that had been marketed by 2 other agents over the last 13 months.

Within 6 weeks of them coming to market with Newton Huxley we had a buyer in place and have just exchanged contracts with the proud new owners of this stunning Edwardian property.

If you're looking to sell in Claygate my team can help, book a valuation here: https://lnkd.in/dtVWQds

The necessary restrictions put in place by Government to slow the spread of COVID-19 have essentially paused property transactions in the UK.

Agents are currently only permitted to carry out “virtual viewings” on vacant properties, and mortgage lenders are putting a temporary stop to new mortgage applications whilst restrictions prevent their surveyors from valuing properties with usual accuracy, given that they cannot physically visit the vast majority of properties at present.

The only ones that are still moving home, are those that are well progressed with their sale or purchase and are contractually bound to move. The same more or less applies to those renting as well, with virtual viewings applicable to vacant properties only, and only those that absolutely have to move are able to do so.

Were you planning a move this spring like many others who have been waiting for the right time to sell?

Prior to the outbreak of COVID-19, the property market was doing extremely well, and there was already strong evidence that the so called Boris Bounce was having a positive impact on the property market.

Our own data showed a 14% increase in the number of property viewings immediately following the election, and an overall increase of 32% when compared with the same period in 2019. This was also evident in the most recent property transactions for 2020, showing an increase in the average price paid for a property in Thames DItton, Esher, Claygate, Hinchley Wood and Molesey of £25,000.

Right now, we should be experiencing one of the busiest seasons for the property market, commonly known as the Spring Market, but restrictions are preventing people from bringing their property to market, causing a back log of people that were planning to move at this time.

Can you think of another recent event that was talked about in the news every day that may have also had a bottleneck effect, and created a back log of people that were waiting for more certainty before putting their property on the market…?

Brexit is relevant to property market predictions around COVID-19

The EU referendum in the UK along with amendments to how stamp duty land tax is calculated, reduced transactions in Molesey, Esher, Thames Ditton, Claygate and Hinchley Wood by around 30% and as a result, 2020 was expected to be a busy year for the UK Property market with pent up demand reaching critical mass.

We now have one bottle neck on top of another bottle neck, and if the data tracking property transactions in South Korea and China is anything to go buy, we can expect transaction levels and the health of the property market to snap back at an exceptional pace.

With the UK’s own specific set of circumstances leading up to this point, we are expecting a wave of new properties coming to market in the second half of 2020.

If you are one of those people that are planning to sell your property once life begins to return to normality, is there anything that you can do to beat the crowd?

Get yourself "Contract Ready"

You may or may not already know that you can instruct a solicitor before you find a buyer. Our panel of solicitors work just like our estate agents do, on a No Sale, No Fee basis.

Why does this matter? The initial process of setting up the sale of your home with a solicitor takes anywhere from 2-3 weeks. Most people wait until they have a buyer to begin this process, but if everyone is trying to do this at the same time, it will likely take longer than usual for the initial steps to be completed.

If you are serious about moving, why not put yourself in a position where you are up to 3 weeks further ahead than other properties that launch to market? There’s no catch, and you don’t even have to use Newton Huxley Estate Agents to sell your property to get access to this service. However, if you decide to take advantage of our award winning estate agency services, your solicitor fee payable upon the completed sale of your home will be absorbed into the commission we charge, saving you an average of at least £1000.00

For more information please contact our team on 01372 631 622 or email info@newtonhuxley.co.uk

According to the Federation of Master Builders (FMB) and the Home Owners Alliance (HOA), you can enhance the value of your property by almost £50,000 simply by removing an internal wall to create an open plan kitchen and dining area.

Chief executive of the FMB, Brian Berry, said the work would cost less than £3,500, take seven days to carry out, and would add £48,417 to an averagely priced home in London.

"By investing in low-cost, high-return projects, not only will you make your home a more pleasant place to live, you’ll also be increasing its value significantly. Better still, these projects take no time at all so the hassle factor will be kept to an absolute minimum," he said.

But what if this isn't an option? What other projects could you invest in to significantly add value in a short amount of time? Here are some options:

Build a garden room or outside playroom. Typical costs for this project will be in the region of £6,500, but will add an average (in Surrey) of over £35,000. A massive £28.5k profit.
Update your kitchen. With careful planning this could cost in the region of £4,000, but could add almost £27,000 to the value of your property.
Turn a cupboard into a downstairs toilet. With an initial outlay of just over £2,500 it could add up to £24,000 to the value of your property
Add an en-suite bathroom. Converting part of a bedroom into a a bathroom can cost as little as £4,700, but add in excess of £14,500 to the value of your home.
Add a driveway. If you have the space, buyers will pay more for a property with added parking space. For an investment of £2,200 you could add £13,300 to the value of your property.
Install decking. For just under £4,000 you could add decking and lighting generating additional value of up to £9,000.

Potential returns will vary by property and location. Contact us if you'd like specific advise, before you invest the money.

Buying and selling a home can be a stressful process, so it's important you are aware of the pitfalls that can cause a sale (or rental) to fall though. If you address these early in the process your chances of the deal going through is much greater.

According to the NAEA (National Association of Estate Agents) Propertymark, these are the factors that most commonly cause issues:

1. Nuisance neighbours. If you've had an issue with a neighbour eg over boundaries, shared access or anti-social noise you're better off being honest early in the process rather than risk it affecting things later down the line.

2. Structural problems. If you know of any structural problems with your property, you should fix them straightaway. Or, as a minimum, get a contractor to provide an estimate for the work, so this can be included as part of the negotiation.

3. Japanese knotweed. This invasive plant has deep roots that can damage the foundations of properties. If you think you have any, call a professional to get rid of it. Not only can it significantly devalue your property, it puts it at risk of subsidence and could affect the ability to get a mortgage on the property.

4. Rail timetable changes. If you're within a commuter belt. Changes to timetables can affect the saleability (or rental) of your property.

5. Planning permission. Have you had any work carried out on your property whilst you've been living there? Such as extensions or conversions? If you have, make sure you have all the documents you need to prove they have been completed in accordance with local planning regulations.

6. Remaining lease length. If your property has a short lease time remaining, you should provide this information as early as possible.

7. Flight paths. Noise form airports is cited as one of the common reasons why a purchase fails to go through. Be honest with prospective purchasers (or tenants) about how much you can hear and at what time of day you're disrupted.

8. Parking disputes. If you have a dispute with a neighbour over street parking or shared driveways, try to resolve them with your neighbour first. If necessary, check the deeds of your property to see where boundaries lie.

9. School catchment areas. This is one of the most important factors for parents of school age children. Make sure you are up-to-date with the local schools, so you can advise if your property falls within the catchment areas.

10. Damp. Not only can damp cause damage to a property it can also be a health risk. Most cases of damp are simple and inexpensive to fix. If you're concerned get a specialist company in who can advise what works need carrying out and the potential costs. You may need to factor this into the sale price of your home.

It's long been understood that colour has the power to transform behaviour and shape the way that we perceive a wide variety of goods and services. Businesses spend millions in branding and marketing to encourage us to chose their brand above others.

In our homes, we also use colour to affect the mood and ambience of each room. With brands such as Dulux investing heavily in the branding of colours to reflect the style, heritage and personality that we want to portray.

One of the most often overlooked items, when considering our colour schemes, is the colour of the humble front door. Yet this is one of the first things that potential buyers or tenants will see. Helping them form an impression of your property, long before they step through the front door.

Current colour trends typically take property owners down one of two roads. Bright yellow, pink and turquoise are very much on trend, giving properties a wow factor with a flash of vivid colour. The other option, also popular, is to adopt a more traditional, subtle, muted colour such as deep blue, dark grey and sage green. As timeless colours they help create an impressions of style and heritage.

So, can the colour of our front door influence the potential sale or letting of your home? Many agents think so. But, it would appear, that the choice of colour is dependent upon where you live.

Here's what Country Life suggest:

If you live in the country or in a country village, avoid paint altogether. Instead use varnish on bare wood to compliment the countryside.
If you live by the sea, chose a colour that matches the ocean.
If your property is constructed in yellow sandstone a duck-egg clue can be appealing
If your property is constructed with brick, adding a contrasting colour such as deep blue is popular.

Taking all of the above into account, according to Country Life's research blue is the most popular colour when it comes to selling or letting a property.

The current property drought is nationwide, with the average price of a property sold subject to contract in the UK in September at £221,797. On top of that, the supply of properties for sale is 14.3% down compared to 12 months prior, and 3.1% from August this year.

New instructions are also down 18.5% in London, where the average house price last month was £521,383.

Buyer activity is being magnified, with new buyer registrations up 8.4% annually, in particular the number of new first-time buyer registrations is up 7.4% with the current low mortgage rates.

What does this mean for the East and West Molesey property market?

Already we have seen a spike in new buyer registrations with many homes going under offer with the first seven days of marketing, and on average we are acheiving 98% of asking prices. A sure sign that there are more buyers per property.

The affect this has had on the Molesey property market is great news for those planning to sell in the near future. In the past 6 months property prices in East and West Molesey have increased by £15,583 on avg (2.86%), with 117 transactions in the KT8 postcode area in the same time period.

For the first 6 months of 2015 there were 164 transactions which shows a drop in completed sales of around 28%. It is no wonder then that as the amount of new buyers searching for a home increases, and new instructions coming to market dropping, property prices have increased significantly.

This bubble will burst when mortgage rates rise and there are numerous reports that suggest this will happen in the not too distant future, when this happens we anticipate buyer activity will decrease and property values will level off temporairily. We therefor urge anyone considering selling to take advantage of the current market and to bring any plans to sell forward where possible.

Should you require a valuation and market appraisal of your home our appointments are offered free of charge and without obligation. Please contact our sales team on 0208 396 6717 to arrange your appointment.