New Year, New Home?

As we put the joys of Christmas behind us and move into 2020 we often turn our minds to fresh starts and this includes moving home. Perhaps you felt a little cramped over the festive period and need a larger home or were you rattling around your home with far too much room and you fancy something snugger? Whatever the reason, if you are now looking at buying or selling a home, this article will cover some of the things you will need to consider before making this big decision.

Budget

Perhaps the most important thing you will need to consider is your budget. You will need to understand your finances in detail before you start looking at new properties because you’ll need to know what you can afford to borrow, what the conveyancing costs will be, how much deposit you will need, what the estate agents fees will be if you are selling and also look into the costs of moving. It would be worth talking to an Independent Financial Advisor (IFA) to have them assist you with looking at the mortgage and deposit. There are some more nuggets of useful advise about buying a home here.

As part of your budgeting process, if you are selling a home, you will need to consider some costs associated with sprucing your home up. A lick of paint goes a long way to improve the outlook of your home and make it more attractive to buyers, but there might be some maintenance work that you’ve been ignoring which you really should do now to ensure you property is sold quickly. We have some more advise for home sellers here.

What to Buy?

To make the process easier if you are buying, make a list of the must have features that your new home absolutely has to offer such as the number of bedrooms, garden, garage, bathrooms or location etc.  Also make a list of the nice to haves as well. These are the features which you would like but which aren’t a deal breaker. This will make your discussions with estate agents a lot easier as they will be able to advise you in much more detail.

Estate Agents

Even at a very early stage it is worth popping in to a reputable local estate agent to discuss the local market, prices, best locations and also get an understanding of their fees. Estate agents often have access to IFAs and you could take the opportunity to kill two birds with one stone and use the estate agent’s IFA to discuss your financial situation. To find your local Belvoir property expert click here.

Timings

Timing can often be important and there are times of the year when the market is slow and times when it is more buoyant. According to the Advisory the property market starts to pick up towards the back end of February, with March being the ideal time to sell and, by default, buy a new home.  If you are looking to sell or buy sooner rather than later, why not use January to do all your research and maintenance work and then look to actively engage with the market in February or March?

If you are planning to move home in 2020 it will pay to start the process as early as possible using these handy tips and you’ll soon be relaxing in your new home.

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