Money saving advice for your home

Jim Parker October 30, 2018

There are a few changes that you can make around the house that could save you hundreds of pounds a month! Some of them are as simple as clicking a button or turning a dial.

 

Switch your utility supplier

Your first port of call should be your utility bills. A recent study by Energyhelpline found that the average household can save over £600 a year by switching suppliers. You should consider changing the supplier of your television package, broadband and energy to a competitor who might offer you a better deal.

 

Consider your energy set-up and habits

Switching supplier is a good start, but your next job is to take a closer look at your energy habits. This can be as basic as turning your thermostat down by a few degrees or making use of the timer control on your boiler. Clothes horses can be utilised to dry your laundry, meaning you don’t need to have the heating on for longer than required.

 

If you want to make more of an impact on your energy bill, you could also consider your property’s energy efficiency. To combat wasting energy, you could deploy draught excluders around the house to trap heat or hire a professional to examine the insulation in your walls and roof.

 

Turn electrical appliances off when not in use

The Energy Saving Trust recently revealed that across the UK, households were spending between £50-86 a year on gadgets in a ‘non-active’ or standby state, equivalent to 9-16% of the average electricity bill.

 

Set your washing machine to a lower temperature

Washing at 15 or 30 degrees rather than 40 degrees can save you a third of the cost to run the cycle. Think about how much that could be saving you on the day you decide to tackle the overflowing laundry basket!

 

Switch to a cheaper mortgage deal

Mortgage repayments are often the biggest monthly expense a household will have, so it could be worth checking if switching to a new deal can help you save.

For example, if you have a £180,000 20-year mortgage, a deal that charges 4% would cost your household £1,091 a month. Remortgaging to a 2% rate could save you £180 a month (£2,160 a year)

 

Fife Properties Managing Director, Jim Parker commented, “It is amazing how just a little bit here and a little bit there can add up to a substantial saving per month.”

If you want to take advantage of our FREE initial consultation to see what you can save contact us today by clicking on the link:  https://fifeproperties.co.uk/contact/

YOU HAVE NOTHING TOO LOSE AND EVERYTHING TO GAIN

How to help your children onto the property ladder

Jim Parker October 23, 2018

Most parents will tell you that you never stop worrying about your children, even after they’ve long flown the nest. Given how difficult it can be to get started on the property ladder for most people in their 20s or 30s, the Bank of Mum and Dad are increasingly getting involved to give their children the best possible chance of buying that important first home. But with the average deposit for a house in Britain currently standing at a dizzying £51,000, parents need to simultaneously make sure that they protect themselves financially before committing their own futures for the sake of their offspring. With that in mind, here are our top tips for helping your kids to get onto the property ladder:

 

Bring your children back home (briefly!)

It can be very difficult to save up enough cash for that first home when living in a rented property, purely because the cost of living in Britain can be difficult to manage even if you’re a couple who are both in full-time work. One easy way to help your child and their partner to save some money is to welcome them home for a period. Of course, we can’t help you draw up a washing-up rota, but taking away big costs such as rent, bills and even food expenditure will instantly help them start putting away the money required to get them started.

 

Gifting our lending them the money

If you’re able to, the benefits of gifting or lending your children money can be huge, as a large sum of money could mean the difference between being able to secure deals with lower interest rates.

However, this option can be potentially difficult to navigate on a personal level, and comes with a strong recommendation of confirming your agreement with your children and their partner prior to any money changing hands. Make sure you confirm that you’re either gifting or lending them the money beforehand, and if it’s the latter, then set up a repayment plan for your own piece of mind.

A Declaration of Trust document is a good way of confirming this, and it can clearly state who owns what part of the property in the event that your child separates from their partner and the home is sold.

 

Buy the home with your child

If you’re concerned about the long-term implications of giving your child a lump sum, or are unable to make that sort of financial commitment, then a joint mortgage is a good way of sharing the responsibility. In this case, you and your child are both liable for paying for the loan made to purchase your home, and you can come up with a financial plan for repayment that suits you.

 

Remortgage your own home

This is another option open to you in order to provide you with a lump sum of cash, which can be a huge help when it comes to putting down that all-important deposit. Again, it’s one that comes with strings attached, given that you will have an increased number of payments to consider, including arrangement fees and interest on a higher mortgage rate.

 

Fife Properties Managing Director, Jim Parker commented, “Whichever route you choose when trying to help your children get onto the property ladder, gaining independent financial advice is strongly advised to make sure that you’re making the correct decision for everyone. Helping your children to buy their first home is an important, personal experience, and one that deserves to be as stress-free as possible.”

We have can provide an initial consultation and point you in the right direction. To book you FREE initial consultation click on the link and contact us today: https://fifeproperties.co.uk/contact/

Average house prices rise in the UK increase by 3.1%

Jim Parker October 16, 2018

Across the last few years, there have been many predictions and forecasts as to how house prices will fair amidst all of the Brexit uncertainty.

Some experts believed that property prices could see a fall as a result of a hesitant market and low activity, however, it appears that British homes have remained defiant and as a whole, the UK has seen an annual rise.

According to the latest official figures from the Land Registry, homes in the UK have risen in value by 3.1% in the 12 months to July 2018.

Not only have prices increased across the year, but figures also saw a jump of 1.2% month on month, meaning the average price of a home in the UK stands at £231,422.

When looking at these new figures in greater detail it was found that all countries within the UK recorded a rise in value, with the largest growth seen in Wales at 4.2% year on year. The 2nd largest growth in property prices was recorded in Scotland at 3.2 and in England, homes increased in price by 3% over the same period. Northern Ireland saw substantial growth also, especially in the year to Q2 of 2018, with house prices rising by 4.4%.

In terms of individual regions, the North West of England recorded the highest price growth at 5.6% and not too far behind were the regions of the South West and the West Midlands, both showing increases of 4.4% year on year.

Another interesting statistic from this report, was the rise in activity from both first-time buyers and former owner-occupiers, with sales up by 2.6% and 3.4% respectively in the year to July 2018.

Whether or not this trend will continue is still up for debate as the country’s future is yet to be decided, nevertheless, the property market continues to show its resilience to external factors as homes throughout the UK are still in high demand.

Fife Properties Managing Director, Jim Parker commented, “Scotland has always been a steady market with consistent growth over the long term and is more hedged against the huge swings in prices that England experience. Time will tell how Brexit could impact on us, but the most important point is not to let this distract you from selling or buying as over the longer term it is all relative. The key as always is to get the right professional advice before doing anything and that is where we excel.”

Fife Properties can do an initial pre-marketing home assessment to ascertain and advise of any issues that might affect your properties saleability. You can book a FREE initial consultation today at the following link https://fifeproperties.co.uk/property-valuation/

Tips to help you sell your home this autumn

Jim Parker October 9, 2018

It didn’t take long for Autumn to take hold, did it? It seems like only a few weeks ago, we were enjoying the blazing sunshine and moaning about the heat, but with October in full swing, it’s time to start wondering if it’s time to stir the heating into life and get those jumpers out of hibernation.

Autumn can be a great time to sell your home; the colours and relatively early sunsets can certainly help to offset your property, but there are several things that you can do to help show your home in the best light when you’re trying to find a buyer. Here are our top tips:

 

Have a tidy, inside and out

It might seem obvious, but de-cluttering and tidying your property before you start viewings, both inside and out can have a huge effect. Remember, you’re trying to show your home off, and attempting to get visitors to envisage themselves living there; making sure the entrance to your home, your living area and any garden space that you might have looks organised and tidy can have a huge effect on that. That means toys, shoes, papers and the like need to be put away.

Bulky items that take up space need to be temporarily removed, too. Remember, buyers want to see how they would fit in your home, and a lack of available space can make that difficult whilst simultaneously making the property seem smaller than it is.

 

Conduct viewings before it gets dark

It might not always be possible due to your schedule, but when possible, make sure to schedule viewings before it gets dark. With the sun going down earlier and earlier as the year draws to a close, it’s important to take advantage of natural daylight so that your property looks brighter and cleaner. Even if you are busy working during the day, it’s possible to organise a viewing agent who can show your property off for you.

 

Air your home

With no sunshine in the day to dry your clothes during the day, many of us dry our wet washing indoors at this time of year, meaning more moisture gets into the air around your home. Make sure to open your windows to alleviate this, and get some fresh air around your home.

 

Don’t be afraid to turn the heating on

You may be hesitant to turn on the heating before the real cold sets in, but making your property nice and warm before each viewing can be a great advantage when trying to get people interested in your home. It’s always nice to return to a warm house, and small touches like that, aswell as lighting a scented candle can help to make people feel relaxed.

 

Fife Properties Managing Director, Jim Parker commented, “It all sounds so simple to do and just common sense but the problem about common sense is that it is not that common so you need the experts to walk you through everything and provide a professional opinion.”

Fife Properties can do an initial pre-marketing home assessment to ascertain and advise of any issues that might affect your properties saleability. You can book a FREE initial consultation today at the following link https://fifeproperties.co.uk/property-valuation/

Revealed: the biggest property viewing put-offs

Jim Parker September 27, 2018

When trying to sell a property we all do our best to make sure our home is in tip-top shape and that we present it in the best light possible.

The little things can go a long way when it comes to selling a home and what may look like minor issues to you could be deal breakers to a potential buyer.

ScS recently surveyed several prospective buyers with the goal of discovering the biggest turn-offs when viewing a property.

Whenever you’re selling a home, making each room feel as spacious as possible is key to the sale, so it comes as no surprise that the number 1 turn off is clutter or obvious lack of storage, with 41% of survey participants stating that they would be put off a property which is clearly lacking for space.

Not very far behind at all and chosen by 40% of participants was pets, bad smells and general mess, as it appears that the thought of lasting damage from pets and odours is a big enough deal breaker for some buyers.

Continuing the theme of wear and tear and chosen by 36% of those who took part in the survey was old/damaged carpets, flooring can be quite costly to replace so it is understandable that a worn-out rug could ruin a viewing.

The kitchen is arguably the most important room in a home when it comes to a viewing as if it’s not to the buyers liking, it’s easily one of the most expensive rooms to renovate. This holds true according to the results of the survey, as 35% of people said they would not buy a home if they were not a fan of the kitchen.

Coming in at 5th place was being near a main road, as one-third of us (33%) prefer a home in a more secluded spot away from noisy traffic.

The study also found which features were considered ‘must-have’ with 57% searching for a home with the right number of bedrooms, 40% looking for off-street parking, 32% wanting a well-maintained garden and a similar number of participants looking for new windows and a new kitchen, chosen by 31% and 30% respectively.

Fife Properties Managing Director, Jim Parker commented, “Buying a home is a major investment and while most people are put off by clutter, bad smells, worn carpets and having to renovate there is still a market for properties like this. However, with professional guidance from our experts, you would be surprised at what you can achieve. The key is to get the right professional advice before doing anything and that is where we excel.”

Fife Properties can do an initial pre-marketing home assessment to ascertain and advise of any issues that might affect your properties saleability. You can book a FREE initial consultation today at the following link https://fifeproperties.co.uk/property-valuation/

A guide to downsizing to a smaller property

Jim Parker September 25, 2018

For a lot of older homeowners today, downsizing can be a great way not only to have a good clear out after your kids have left home, but also a fantastic way to create some equity. This financial boost will also most likely come with the added bonus of a reduction in running costs as you move to a smaller home. While there are plenty of benefits of downsizing, moving home can still be a complex and stressful experience, so we’ve put together a quick guide on what to consider to make the transition a much smoother process.

Decide what you REALLY need

The most important step to a successful downsize – and it’s one that you’ll want to take as early as possible – is taking a good look at all of your possessions and shedding as much as possible. This is the part where you have to consider your day to day life and think about how much you use all of these items. You should ask yourself, do you still need all of that seating in the living room, or do you need such a large dining table? If the answer is ‘no’ to questions like these, then it’s time to start dividing item into piles marked ‘keep’ or ‘give away’.

It’s not an easy process; letting go of a life’s worth of possessions, many of which will have sentimental value is tough to do, but the benefits on moving day will be worth it. For one thing, you won’t have as many things to move, and there will be less worry about how to fit all of your possessions into your new home as a result.

Don’t throw anything away

Once you’ve decided which items don’t belong in the ‘keep’ pile, it’s time to see if you can get some extra cash from your unwanted possessions. Most likely, there will be some items that may not be fit for use anymore and could be recycled, but those that are in good condition can be used to help purchase new items that are more suitable for your smaller home.

As we said earlier, separating your items early is the best strategy, as you will now have plenty of time to use websites such as Gumtree and eBay in order to facilitate selling the things that you don’t wish to keep. You might even be surprised by the how much interest they generate, and how much money they bring in.

Assess your new space

At this point, you should have divided your items and possibly sold a few, too. Even though you’ve probably gotten rid of a lot of possessions, it may still be a challenge fitting everything that remains into your smaller space.

If you’re already part of the way through the moving process and have agreed on which house you’re going to buy, start looking at measurements of each room and compare them against the furniture you currently have. For example, your king size bed may fit into your new bedroom, but will it leave room for much else? Start planning how everything is going to fit in and figure out how to get the absolute most out of each space. You may need to invest in smaller and more suitable items for your home such as a dining table that seats 4 instead of 8.

Prepare for moving day

Your last move was likely to a home of similar size if not bigger. However, this time you must consider that you’ll have less space to work with, meaning it won’t be just as simple as getting everything in and unpacking it later.

Whether you want to label all your boxes with ‘living room’ or ‘bedroom’ or use a colour coded system, it’s best to know what goes where before you begin to move things. As with any move, it’s wise to focus on the bigger items such as beds and chairs first, as this will give you a better idea of where to place all the small things.

Normally when a family moves into a bigger space, they initially use the extra room to store things that they’re too tired to unpack right away. If you’re downsizing then you probably won’t have room for a bunch of items to be out of sight and out of mind, so you should begin unpacking and organising all of your items as soon as you can. Moving into a smaller place and being surrounded by boxes for the first couple weeks will only ruin the experience for you by making it feel even smaller. Get organised early and get the full use out of your new home.

Fife Properties Managing Director, Jim Parker commented, “Downsizing is often one of the most stressful points in your life. Getting expert advice is the key to making it as easy as possible and that’s where we come in. Our expert agents can arrange everything from selling to moving making the whole process STRESS FREE.”

All you need to do is tap the link, fill in your details and arrange your FREE initial consultation today: https://fifeproperties.co.uk/property-valuation/

How much do top schools add to a property’s price?

Jim Parker September 20, 2018

If you and your family have ever looked for a new home, there is a good chance you’ve taken a look at the local schools so you can make an informed decision about your purchase.

If you’ve got young children then living in the catchment area of a good school is without a doubt a bonus, but have you ever considered how the top schools impact the price of your home or how much buyers are willing to pay to be near one? New research from Santander Mortgages has sought to answer these questions.

According to their data, homes located in the catchment area of one of England’s top 100 state secondary schools, receive a 42% boost to their value.

This price premium even applies at a primary school level, as homes in the catchment area of a top 1000 state primary school are valued at 8% more than homes in the surrounding areas.

It appears that parents are happy to pay a little extra for a home near a top school, with Santander’s research finding that they would be willing to pay almost £27,000 more than the average price of a home in the UK.

What is more interesting about these statistics, is that top schools rank far above any other local amenity, such as low crime rates or good transport links, as buyers are only willing to pay 11% and 10% for these benefits.

The research also found that 30% of parents with children of school age are considering finding a new home within the next 2 years in order to secure their child a place at a top school and just under 1 in 4 parents would even consider downsizing to send their child to a private school.

Managing Director of Mortgages at Santander UK – Miguel Sard – offered his comments on the results of the research, he said; “Living in the vicinity of a top-ranked school carries a significant house price premium. If families are looking to move into a catchment area specifically to boost their chances of getting into an elite school, they can expect to pay a hefty price

“It is important when considering purchasing a property that people understand the true costs as the house price is just one of many. Stamp duty, solicitors’ fees and moving costs mount up. Parents are prepared to sacrifice a lot to give their child the best start in life and given these costs, it is important to find a mortgage lender that offers the best rate for you to ensure repayments are manageable, and the buying process is made as smooth as possible”

Fife Properties can do arrange a FREE mortgage health check with one of our preferred partners. You can book a FREE initial consultation today at the following link https://fifeproperties.co.uk/property-valuation/

15% rental rate rise predicted by 2023

Jim Parker September 18, 2018

The rental market in the UK has seen its fair share of changes over the last two years and it is now looking like those changes are starting to have an impact.

The Royal Institution of Chartered Surveyors (RICS) recently conducted a survey which provided some interesting forecasts for the Private Rented Sector.

It appears that the supply of homes available for rent has taken a fall and has done consistently for the past 2 years. Changes to tax law for landlords and an increase in stamp duty for buy-to-let purchases has made potential new landlords more hesitant to jump into the market.

RICS found that across the last 3 months 22% of respondents to the survey saw a drop in new landlords. This combined with the growing demand for rental homes due to affordability issues has led to forecasts of a 2% rise in rental rates over the course of the next year.

This increase is expected to be felt in all regions of the UK, with East Anglia and the South-West of England highlighted to see the largest growth.

Long-term, this is predicted to continue also, with the pressures of the UK property market predicted to drive rents up by 15% over the next 5 years.

A separate report from tenant referencing company HomeLet, stated that rents had risen by 1% in the 12 months to July, currently standing at an average of £777 per month, with London seeing a 3.3% rise to £1,615 in the same period.

Chief Economist at RICS – Simon Rubinsohn – commented on the findings of their survey, stating “The impact of recent and ongoing tax changes is clearly having a material impact on the buy-to-let sector as intended.

“The risk, as we have highlighted previously, is that a reduced pipeline of supply will gradually feed through into higher rents in the absence of either a significant uplift in the Build to Rent programme or government-funded social housing.

“At the present time, there is little evidence that either is likely to make up the shortfall.”

Fife Properties Lettings Director, Richard Cook commented, “Fife Properties have been lobbying the UK Government with the SNP and Scottish Association of Landlords since the new tax changes for Landlords were announced in 2016 but the UK Government is just burying it’s head in the sand. These tax changes are making it worse for tenants as we see more Landlords exiting the market and more tenants entering thus creating more demand and pushing up rents. This will not stop as it’s one on one economics of supply and demand. The Government should be embracing Landlords for helping them solve the housing crisis not penalising them.”

Top Tips For Viewing A Property Like A Pro

Jim Parker September 5, 2018

When it comes to buying property, it is important to keep in mind that it could potentially be the home you live in for the rest of your life. With this in mind, it is essential that when you view potential properties, you take the time to be thorough and get all the information you can.

To help make sure you don’t miss a thing and make the right choice when you do eventually make an offer, we’ve compiled the following list of tips to view a property like a pro.

Don’t rush
We all feel a bit strange viewing someone else’s home, but as we said earlier, you could be living in this property for decades so don’t rush through this process! It’s vital that you spend close to 30 minutes exploring the property, asking questions and just getting a good sense of how the property feels. If you just wander from room to room, taking a quick look and then moving on, you won’t get a good feel for the property. Taking that little extra time will mean you are well-informed when you come to make a formal offer for the property.

Think about how much space there actually is
When it comes to property space is one thing you can never have enough of. Whether you’re looking to fit in that Queen-size bed or you need somewhere to store all of the precious knickknacks that you have collected over the years, space is incredibly valuable. Pay attention to the way the current owner has laid out the furniture, as it will provide you with some insight into how to best make use of the property’s available space. It’s also an excellent opportunity to think about how much room your items take up and whether there is any scope for a little pre-move declutter.

Take a walk through the area
When you’re buying a property you’re not just investing in that building, you’re also investing in the neighbourhood itself. If you’re first-time buyers and looking to build a life in this new home, you have to ask whether the area is suitable for your family’s needs. Are there plenty of shops close by? How do the local schools perform? It’s best to wander around the area for a short while in order to see how it all feels, after all, if you’re going to be here for some time, you need to feel comfortable.

Once you’ve taken a good look, take another and maybe another
As we stated at the beginning, when it comes to buying property it’s best done the right way, but even when you do everything right, it’s always best to check things twice. No matter how thorough you intend to be there is always the possibility that you missed a couple of things the first time around. Most would advise visiting a property 2-3 times and at different times of the day – if possible – to see if you feel the same way each time. Buying a home can be very exciting, so it is worth visiting the property a few times.

Don’t forget that your agent is there to help you! Make sure you ask them questions about the property’s history and the local area, as they will be more than happy to assist you with your decision.

Fife Properties Managing Director, Jim Parker commented, “We always encourage and help buyers get as much information and facts as possible to help them make an informed decision after all for most of us this will be a home for many years to come.”

Compulsory Super-Fast Broadband For All New Homes

Jim Parker August 29, 2018

Almost everything in your home, from your phone and TV to your washing machine and refrigerator can connect to the internet today, and many studies have shown that a slow broadband connection can be a deal breaker for homebuyers in today’s market.

In today’s constantly connected world, it is no surprise that the Government announced plans to introduce a legislation that would see all new homes fitted with fibre networks to ensure they receive a super faster broadband speed.

A recent report detailed plans for upgrading the entire country from copper-based to full fibre networks by the year 2030. New build homes would, of course, come with fibre networks as standard, but older homes and some of the more rural locations throughout the UK would eventually make the switch also.

According to new figures in comparison with the rest of Europe, the UK has got some work to do in order to catch up in terms of connectivity.

89% of Portugal features full fibre connections, Spain boasts 71% and France has 28% and rising, whereas only 4% of the UK is able to provide the top speeds that come with a full fibre connection.

Fibre connections are not the only upgrades planned for the UK, as the Government hopes that switching from copper-based networks will provide a strong foundation for 5G coverage throughout the country and a target has been set to connect 15 million premises to full fibre broadband over the next 7 years.

DCMS Secretary of State – Jeremy Wright – spoke on the Government’s plans, he said; “The Government is looking to improve the housing supply in the UK and has an ambition of building 300,000 new homes a year over the next few years. We will ensure that the ambitions of significantly increasing the housing stock and world-class digital infrastructure are aligned. It makes practical sense to ensure that these new developments have future proofed full fibre connectivity wherever possible,

“We want everyone in the UK to benefit from world-class connectivity no matter where they live, work or travel.”

Fife Properties Managing Director, Jim Parker said, “This is pretty startling figures and the UK seems to be lagging behind. The government needs to push forward to ensure the UK remains at the forefront of technology and communications”

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