Monthly Archives: August 2011

It’s a tough market, but you can still sell your house.

1 Reply

Facebook Big Like ButtonI don’t need to inform anyone that the market is tough especially in local areas such as Levenshulme/Longsight/Gorton as first time buyers are finding it virtually impossible obtain the finance they need to get on the housing ladder.  But don’t despair house sales are still being made, here are some tips to help you sell your home:

1. Price: Get it right, first time!

Firstly, you need to get an honest valuation on your property by an experienced local Estate Agency (choose three of the top agents in your area – only choose strong local agents and find out how they will market your property).  Secondly, if you find yourself using the phrase “Let’s try it at ‘x’ first and then we will go down to ‘y’”, stop!  Throw some cold water over yourself (no actually do it! It helps), then make the sensible decision to set the price correctly first time.  The best opportunity of selling a property is the first month it’s on the market, don’t waste this, or you will end up reducing the property more than ‘y’ to sell the property after the first month has elapsed.

2.  De-clutter to the extreme!

There is nothing worse than viewing a property that looks like an explosion of a Storage Depot has occurred nearby and left the shrapnel in the property you are viewing.  Pack everything away neatly in the Garage or Cellar or alternatively store some of your belongings with family whilst your property is on the market.  The property should be extremely clean and tidy for all viewings and when the agent is taking photographs.  You need to show your property in the best light.  I know this is hard work, but it pays.  Oh, and put the toilet seat down!

3. Click ‘Like’ on Rightmove or PAD4U website to get your property on Facebook!

OK so this isn’t the most likely route to finding a buyer, but with millions of Facebook users, its worth letting all your friends know your house is on the market as they may just know someone who is interested in buying a house in that area.

 

 

Rents must rise

Leave a reply

Bar Chart Graph IncreasingThe media is currently littered with stories of rents rising, to the extent one would think they had double over night!  Whilst, I’m sure some areas may have seen dramatic rises in rent such as the South East and London, many more areas are only seeing a minor “correction” in rents which has been long overdue.

Over the years multitudes of legislation (mostly ill-thought) has been thrown at landlords.  This legislation may not have resolved any issues, but it has certainly resulted in extra costs for legitimate landlords.  Take the Tenancy Deposit Scheme (TDS), such schemes have insured that landlords rarely receive the actual costs of the works they carry out in-between tenancies.  For example, if a tenant has marked a wall, the landlord will NOT receive the costs of repainting that wall, only a minor adjustment for the mark itself.  Back in the real world a landlord will have to find a decorator willing to come in to paint one wall (good luck), or usually end up painting the entire room so that the different ages of paint correspond.

The landlord needs to recoup this shortfall somewhere, and that somewhere has to be increase rent for every tenant.  This is just one example of legislation that has increased the total costs for landlords.  Other legislation includes selective licensing, health and safety legislation, energy performance certificates.  All this legislation costs money and therefore rents have to increase to take account.

In conclusion rents have remained static for far too long, whilst the costs of being a landlord have increased.  It was only a matter of time before the increased costs resulted in the necessary increases in rent.  Whilst increased legislation isn’t the only reason rents are rising, demand is also increasing due to banks reluctance to lend to first time buyers, it is factor that landlords must consider when setting rents.

Governments need to think carefully before introducing legislation that ultimately benefits neither landlords or tenants and increases the costs to everyone in the form of red-tape.