Making the most in the upturn in the housing market is something we have to grapple with in a very cyclical way. Some years the housing markets are very bouyant and stock moves rapidly. Houses and flats are so often shown as Sold before a For Sale sign even sees it’s way out of the carpenter’s shed. In some areas of the country, this can be a regular thing. I tmeans that the renting market will be just as bouyant. When folk want to live in a particular city, nothing is going to put them off, especially if they have jobs there.
Bristol is one such area – apart from a difficult time in the early 1980s when hit by a whole host of copy cat racial tension problems, it is usually a thriving, bustling and very busy business and social centre of the south west. The properties just fly and property management can be hectic.
There has been quite an explosion in the property market in recent months. The very dire shortage of buyers for all kinds of properties has disappeared completely in most areas. In fact we are bombarded daily with articles and news reports about the fact this country is not building enough housing for the number of families wanting to move up. It does make me wonder though where all these families are coming from. If they are moving up, what is happening to the houses and flats they are vacating?
We have the benefit of some inspring day time tv now. The lifestyle section can really be a boon. It is very noticeable that Bristol and its environs is one of the most popular areas for families wanting to move. Using an agency dedicated to that area is the only way forward for some renters – and only the best kept places will be available.
Looking out for the best flat or apartment to rent for the a long term period can be very complicated. The number of properties coming onto the rental market in certain parts of the country is very limited, depending on many factors. Some areas that used to be looked down on because of shabbiness and hugely complex ethnic mixes, now rate as the most popular. Taking Birmingham and Bristol as two examples. In the 1970s – 2000 era, these were blighted with poor housing stock. The economy of the areas was not strong in terms of employment.
There has since been much regeneration in many areas, those two included with massive investment bringing beauty and prosperity. Now it is virtualy impossible to find a home for rent – the waiting lists are extensive. Getting on the books of a good agent in your area of choice is critical if success is going to come in a working lifetime!
After the luscious long summer months, where nothing too serious regarding property every occurs, it is easy to just concentrate on the major topic – summer holiday location. Shall it be a sunny beach in usual busy hotspots, or a calm, quiet cottage on the edge of a country side lake or hillside. There are so many possibilities these days.
At Christmas and New Year, many couples get itchy feet and decide that maybe a bigger house, or indeed a smaller one, might be a good idea for next year. Endless details are obtained from estate agents and lots of browsing on the internet in the selected area of choice. It has something to do with nesting instinct and brings a breath of fres air to the couple, even if the plan moves not much further forward than the browsing.
It is absolutely amazing how many families all get together for the Christmas holidays – busy eating, drinking, playing games, or more usually, watching endless tv programmes. But somewhere in that mix is the desire to get out there and see somewhere else for a change.
With so much surplus funding about, apparently, there is a big move towards owning one property to live in and owning a couple more to rent out ‘for the pension pot’. This can be an exciting new family endeavour but one that needs a bit of research and a lot of comittment. Getting the right property for renting out, in the best location and at the right price. All hands needed to stady the investment ship.
In days gone by there were only a few expectations about property. You were going to either rent or buy. If you did well at school, you went on to university, got the degree and then a decent job – one for life. The first steps were to move from home into a rented flat, then a step up to a bigger rented flat or maybe you saved that extra expenditure and saved for a deposit. Eventually enough was available for you to buy the first place. That would generally be expected to be a little flat. Then the 2 bedroomed terrace house. Later a 3 bedroomed semi detached and so on. Getting on the mortgae ladder ws hard, but not as scary as it has been of late. You were on your way!
Knowing whether you can afford to buy that dear little house you saw the other day – it is much easier to look for mortgages these days, but not necessarily easier to get an offer. There are more variables . Needing to have a huge deposit is always a stumbling block. Realisitically someone needs to start saving for their mortgage deposit as soon as they leave nappies behind. 20 or 22% is generally needed now plus the fees, unless you buy a new build wher the seller usually contributes as a sweetner. Once you have a ballpark figure, it’s time to check up mortgage prices. Using the estimated cost of the property, you can find other calculators online which will tell you how much you can expect to pay on different types of mortgage. We always recommend choosing a mortgage which pays off each month, rather than an interest only!
Take some photos when you go (if you can). The photos on estate agents posters and online are often taken at certain angles to make the house appear bigger or lighter. By taking your own photos, you’ll be able to look back at them once you are back at home and remember what it was like. Also, it gives a better view of how the property appears “in real life” rather than through an edited version…gnore any decor and furnishing you aren’t keen on. Do not be put off by some hideous paintwork or questionable furnishing choices when you look at a property. These are very easy to fix once you move in, and you’ll have your own furniture to put in! Try to visualise the rooms as blank canvasses and remember, the current owner will take their unusual tastes with them!
Hopefully you will go armed with these tips to the next home you view, and see it in a whole new light!
Families are so often in a quandry when it comes to the question of to rent or to buy. On the one hand, renting is fairly simple and straight forward. You provide references, pay a holding deposit and damage waiver and then move in – no worries about having to mintain the property. All the repairs and niggling worries are down to the agent or the landlord. On the other hand, buying a property means that at the end of a set period of payments, sometimes less than rental, the property is yours to keep.
This way, by combining your loves and hates, families will have a much clearer idea of the things they really want to avoid, and the things they want to find in their next home. House buying, without the stress!
Buying a property is one of the biggest purchases we make in our lives, so it is important to ensure we set a realistic budget to buy with. We all have dream homes, with lots of bedrooms, a huge garden and large, modern kitchen, but unfortunately these all come at a price. Here are our tips for creating a budget to suit you.
We recommend using an online budget calculator to do the hard maths for you. Generally, you just tell it how much you earn (combined with a partner if that is what you want), roughly what you spend each month on your regular outgoings (such as electricity, council tax, groceries etc) and the calculator will tell you roughly what you could expect to be able to afford.