Blogs
Nov 23, 2020
ADD VALUE WITH A BUDGET
For homeowners in Chesterfield looking to add value to their property, house extensions and renovations are pretty much guaranteed to do the job. But what if you’re a homeowner without the time and/or budget to invest in a full-blown extension? We often get landlords asking us this very question: how can I add value to my property with minimal effort and a limited budget? So, the team at New Oak Estates have put our heads together and come up with seven easy ways to do just that. Here’s how to increase your property value in Chesterfield without breaking the bank or investing too much time: Start by focusing on your kitchen The kitchen is known as the ‘heart of the home’ for a reason. It’s the room we all tend to spend the most time in when we’re at home. This is why potential buyers value it so much. If your budget only stretches to one single property improvement, make it the kitchen. A great kitchen can add as much as 4% to the value of your home, and a dated kitchen can easily turn buyers off. Here are some easy kitchen improvement ideas that can add value: Invest in modern worktop surfaces – check out Pinterest for some kitchen worktop inspiration Get new kitchen tiles – be bold and opt for a few more striking patterned tiles to create a statement backsplash Paint your cupboard doors Swap the cupboard door knobs for quirky ones Yes, they’re all small changes. But together, they can really help to spruce up a tired looking kitchen! Add more storage space Never underestimate the appeal of lots of storage space for home buyers. This is the one thing that we notice time and time again – buyers can easily be turned off a property if they discover that there just isn’t enough storage space. So, how do you deal with this issue if you simply haven’t got the space? Here’s how to add extra storage to your Chesterfield home when space (and budget) is limited: Make use of all that space on blank walls by building shelves. Shelves are much easier to put up than you might think! Work out what you can do with any unused nooks and crannies. For instance, the dead space underneath your stairs. Could you add a cupboard there? No idea where you can add extra storage and exhausted all your options? Study the layout of your property layout, and you may just discover dead space you didn’t even realise existed. Make your home more energy efficient In this eco-conscious day and age, more and more home buyers are interested in finding out how energy efficient a property is before they invest in it. This doesn’t just stem out of concern for the environment though. An energy-efficient home can also save you a considerable amount on energy bills. Landlords, make your home more energy-efficient and you’ll instantly make your property more appealing to many renters. Here’s how: Make sure all windows and doors are double glazed for effective insulation Invest in a heating system with easily adjustable settings so that comfortable temperatures won’t mean racking up bills Choose an eco-friendly paint brand for any decorating jobs Invest in LED lights and solar panel heating These improvements come at a cost, but they’ll benefit your wallet, and our planet, in the long term. Create a more open-plan home Working with a smaller property? Create the illusion of more space by knocking down a few walls. Do this effectively, and you could boost the value of your Chesterfield property without any extensions. Modern buyers are attracted to open-plan layouts, which can make a smaller flat or house look more spacious and make it easier for them to move around. Don’t attempt this yourself though. We recommend consulting a local residential architect who can show you how to do this to maximise the space in your property. Find out what home movers in the Chesterfield area are looking for Not quite sure where to start? Have a chat with our team at New Oak Estates as we know your area! We have a good understanding of what home movers in your neighbourhood are interested in. We can also help with recommendations of local suppliers that can offer you great deals on any small renovations and extensions that can add value. Give us a call today on 01246 211646 and a member of our friendly and experienced team will be happy to speak with you further. Alternatively you can email us at info@newoakestates.co.uk.
Nov 10, 2020
WINTER VIEWING? HOW TO MAKE YOURS A SUCCESS
We all dream of a white winter wonderland. A thick layer of snowy icing on the lawn, roaring fires, candlelit windows, movie afternoons wrapped in thick, downy duvets. The spicy scent of mulled wine drifting in from the kitchen. If your home is on the market and winter is on the horizon, you couldn’t hope for a more enticing scene… But what about when the reality of a wet winter bites, with its muddy lawns and leaf-blocked drains? If you want to win viewers’ hearts this winter, it’s time to tidy, style and sprinkle some sparkle. We can’t guarantee you a Christmas card snow scene, but we can share our best tips for winter viewing success. GIVE YOUR GARDEN SOME TLC Before your viewer even sets foot through the front door, their first impressions of your home will already be established. Your garden, driveway and front path may be the first things a viewer sees, so where better to begin your seasonal makeover? Gardens can feel out of their element in the chilly climes of winter, with the laughter of summer a distant echo. Unless your garden is well stocked with winter colour, chances are it won’t be at its best right now. Perk up your outside space with a planter of seasonal colour, or even a holly wreath. Also, stock your bird feeders with seed – particularly those close to windows. What viewer could resist the charms of a friendly robin redbreast? Your favourite garden sunbathing spot may be out of commission for the winter, but unused shouldn’t mean forgotten. Remember to rake leaves over the wintertime to keep lawns looking loved. If your garden is looking like a blank canvas right now, that could be a bonus. Allow would-be buyers to plant their own seeds of imagination by tidying up. Pack garden furniture away for the winter (particularly parasols). Treat any remaining tables and chairs to a scrub down. Eagle-eyed viewers will be looking at more than the lawn and borders. They will have a keen eye open for maintenance issues, so be sure to pre-empt these by taking some preventative steps. Power washing paths and patios will keep them free of slippery moss. While less than appealing to the eye, more importantly, viewers could see it as an accident waiting to happen. Potential buyers don’t want to see a home that is going to cost them time and money in repair work. Gutters can get built up with a surplus of leaves at this time of year, so be sure to clear yours before any damage occurs. If you feel your summer garden is a major selling point, don’t worry. A few well-placed photos of your garden during the warmer seasons will help viewers see what they are currently missing. Last outdoor tip … if possible, ensure you have adequate outside lighting for late afternoon viewings. Once the clocks go back, the nights draw in with haste! Give your viewers a clear view of the path ahead. CREATE LIGHT AND SPARKLE Let there be light indoors too. Draw your viewers like a moth to the flame with amber-kissed windows. Opt for soft, lampshade mood lighting over the full beam of spotlighting. Cosy doesn’t have to mean closed in. Leave the curtains open, even once your viewer has arrived. This will keep rooms feeling spacious and in touch with the outdoors. With the nights drawing in, viewers will have less opportunity to see your home at its lightest and brightest. Reduced daylight means less chance for your home to reflect light and sparkle. Don’t worry, you can compensate for this by giving reflective surfaces a thorough clean and polish before any viewings take place. Remember to clean the places you don’t expect viewers will look. Often forgotten spots include fridges, skirting boards and cobwebby corners. Pay particular attention to high-traffic rooms that might need a little extra polish and shine, such as downstairs loos. DRESS ROOMS FOR THE SEASON Create a sumptuous feel by adding a sprinkling of softness throughout your rooms. A velvet cushion or a fluffy rug can add a cosy feel on a cool winter’s day. This is especially true in bathrooms. Replace any threadbare bathmats with toe-sinking, plush, deep-pile rugs. It’s always a good idea to keep a set of super-soft luxury hand towels at the ready, for viewings only. A WARM WELCOME The key to winter viewing success is two simple words: warm welcome. Treat guests to a glowing reception. Hallways should be kept at an ambient temperature, with no room forgotten about. Even if you have an unused box room, now’s the time to add a furry throw to the bed and crank up the thermostat. Who can resist a roaring fire? If you happen to have a real fire, keep it lit! Nothing says sanctuary more than the crackle of logs and shimmer of ruby coals in the hearth. Add a touch of magic to ornamental fireplaces and blocked up chimney breasts. Place pillar candles or a bowl of fairy lights in the alcove for an ethereal glow. EVOCATIVE AROMAS Follow these visual styling tips and you’ll guarantee a good-looking home for viewers. But as we know, it’s not all about looks, there are still two further senses to consider… Smells can sway a viewer in one of two ways. Make sure your home’s aroma leaves them in fragrance heaven – and not running for the door. A clean house smells fresh, so be sure to hoover the carpets and open windows in kitchens and bathrooms to air them before viewings to keep them free from funky odours. Air fresheners and incense can be a bit like ‘Marmite’ for viewers, so play it safe and try to avoid them if you can. TASTY TREATS Nothing says ‘welcome home’ quite like the smell of freshly baked treats. Pre-bought (or freshly baked) gingerbread popped in the oven to warm will fill the air with winter spice, and provide a nifty nibble for viewers. You could even buy ready-to-roll cookies and pop them in before a viewing, ready to serve up as a tasty treat. Offer a reviving hot drink or cocoa or even mulled wine to your viewer. A restorative treat will go down wonders and help to establish your home as a welcoming haven from the cold. UN-DECK THE HALLS Try not to be too quick to put up Christmas decorations. As magical and traditional as they may be to you, for a viewer they only add clutter. After all, you wouldn’t introduce a tree into the living room at any other time of year, would you? With these tips in mind, it’s time to turn your home from ‘bleak’ midwinter to ‘chic’ midwinter. And if we do happen to receive a dusting of snow this winter, do remember to clear a path to the door. After all, now you’ve taken our winter viewings tips, they’ll be lining up to get a glimpse of your home! If the thought of putting your property on the market this winter is leaving you cold, why not engage the advice of the experts? At New Oak Estates, our team are always ready to help share our expert tips and advice on how you can help your home stand out and shine this winter. Call us for a chat on 01246 211 646 or email us at info@newoakestates.co.uk to learn how we can help you sell your home the right way.
Oct 3, 2020
SECRETS OF FABULOUS PROPERTY PHOTOGRAPHY – LEARN FROM THE PROS
We have all heard that first impressions count and never is this truer than when trying to sell your property. Not only will excellent photographs catch the attention of eager buyers, but by emphasising the lifestyle your home actually offers, a well-planned photoshoot is likely to draw in serious viewers who won’t waste your time. So why not pinch a few tips and tactics from the world of professional photography to get your home ready for its market debut? LAY THE GROUNDWORK There is a lot to consider before inviting a photographer to take pictures of your house. Everything from the weather on the day of the shoot, to the quirks and features of your home, and even the experience of the photographer can influence the outcome. While there isn’t a lot about these factors you can control, you do have the power to set the scene to achieve optimum results. Here are some expert tips to help you on your way: CLEAR THE DECKS You can’t add inches to the size of your rooms, but poor lighting and clutter can certainly appear to shave them off when taking pictures. Avoid pictures of dingy corners or garish decor by thoroughly decluttering, polishing, and rearranging furniture as necessary to maximise the beautifying benefits of reflective surfaces and light. This way, you can be sure you’re displaying the full potential of every room. Top Tip –Photographers are often tempted to use a wide-angle lens, which in some cases may mislead a viewer or make the room appear to have strange angles. Consider this fact when discussing the options on the day. SHOP FOR PROPS Luxury homes in magazines elicit such desire because they have been expertly staged to hint at the lifestyle most people crave. No matter the size of your property, you can take a leaf out of these glossy publications and apply their style tricks yourself. Here are some ideas for the different areas of your home that won’t break your budget: KITCHEN Even if your kitchen isn’t fully bespoke, it’s always better to present it positively rather than avoiding pictures of it altogether. Help viewers imagine spending their days in the heart of the home by adding: A wooden board piled high with rustic loaves of bread and delicious cheeses Bowls of fresh fruit (strawberries, apples and limes work well) Champagne and pastries Flowers that chime with the home – wildflowers for a country farmhouse, or elegant lilies for modern properties LIVING AREAS While people enjoy spending family time in the communal areas of the home, avoid displaying an array of toys or sentimental items in your photos. Many potential viewers may also find evidence of pets off-putting because of the damage they can cause to floors, carpets, and other areas of the property. Instead, opt for: Pillar candles Fresh flowers High-end magazines and coffee-table books BEDROOMS & BATHROOMS At the end of a stressful day, we often want to unwind in our own private space. You can help ensure bedrooms and bathrooms seem warm and inviting by including: Crisp, ironed sheets Plump pillows Fluffy white towels – for display only Spa- and salon-quality toiletries OUTSIDE SPACE Even small lawns or courtyards can exude charm, aided by: Tealights or church candle lanterns A flowering plant as a table centrepiece Hanging baskets in bloom COMMUNICATE You have likely lived in the property – No one knows your home as well as you do. By taking note of special features, attractive design elements, and favourite areas, you will have a useful brief to use as a reference point when discussing the upcoming shoot with your photographer. Make sure that they receive a copy of the brief in advance to avoid confusion. It is also a good idea to request ‘lifestyle’ shots featuring your carefully chosen props, and ‘vignette’ photos that use doors and mirrors to frame key features or views attractively. TIME IT RIGHT Understanding the way your home presents on the compass will help you determine the best time of day to take certain shots. No one wants to see a gloomy exterior or a cold-looking garden, so your photographer may need to return in the evening to catch the sun to the front or rear of the property. BE A CO-PRODUCER On the day of the photoshoot, make sure you are waiting in the wings to assist the photographer by removing distracting objects or adjusting the lighting. A good photographer will point out any potential obstacles for you to correct. Involving yourself in the process can reduce the chance of disappointment in the final result, so don’t be shy about getting stuck in. STYLE TO SEASON Spotting pics featuring flowers in full bloom in the middle of winter may make browsers question how long your property has been on the market. Autumn house hunters are also more likely to be drawn by a Yuletide scene than those who have just put the season of giving behind them and are desperate for sunnier days. This may require refreshing your photos throughout the year to avoid giving buyers an excuse to put in a cheeky offer. The good news is that some images can be airbrushed to improve the scene – a service your photographer may provide. GO PRO Don’t be tempted to cut corners by asking a non-professional to take some pics. A real pro will take their time and understands the need for ambience and the best way to set up a shot. This will save you a lot of heartache in the long run. DELEGATE TO THE EXPERTS If the idea of doing so much legwork has you in a tailspin, why not leave the details of marketing your property to the experts? At New Oak Estates, we pride ourselves on using a team of tried-and-tested professionals who will showcase your home to its absolute best. Call us for a chat on 01246 211646 or email us at info@newoakestates.co.uk to learn how we can help you sell your property the right way.
Sep 2, 2020
SEVEN REASONS TO SELL IN SEPTEMBER
In the blink of an eye, the trees are dappled in burnished reds and golds. That first waft of coal fire smoke garnishes the dusky sky. Dust off your autumn boots and dig out your gloves…September is here. Summer brought with it the UK’s busiest month of house sales in a decade. Everyone agrees, the housing market is booming. So, alongside crisp misty mornings and crackling log fires, what delights does autumn hold for sellers? Over the last few weeks, we’ve taken calls from family buyers looking for larger homes. These guys like to buy in autumn, spring and early summer. If these times ring a bell (the school bell) that’s because they are term times! We find that buyers with children tend not to house hunt during the school holidays. After all, when the sun is shining, ice creams at the seaside and outdoor escapades with the family beckon, leaving little time for viewing homes. It’s also worth remembering how stressful viewing a home can be, with children who just want to be outside. Instead, parents tend to wait until the children return to school, so they can view homes in peace. But there is more to it than convenience alone; psychology of space can come into play too. As the days stretch out and it’s light until late in the evening, kids often spend much more time outdoors. Whilst their children are busy playing in the garden until the last glimmers of sunset fade, it’s easy for parents to feel their home is bigger than it is. As a result, ‘upsizers’ tend not to feel as squeezed for space in the warmer months. After all, with the children outdoors, the house seems so much bigger. With more room to stretch out, a house move may not feel as urgent. But as the nights begin to draw in, the house begins to feel crowded, meaning parents once again are looking for a change and a larger home in which to grow. House hunters searching in September and October tend to be keener to make an early decision. After all, everybody wants to settle in ready to start enjoying their new home in time for Christmas. In fact, ‘a quiet and settled Christmas’ can be a real driving factor. Buyers are more motivated than ever to get the deal done. With that in mind, let’s explore the top seven reasons why selling in September might be the best option for you: 1. New school year = new start The schools have gone back. At long last. For parents, it feels like a new year and a fresh slate. With the children no longer cluttering the decks, they can see things with clarity. They can also take steps to move on. School bags strewn in the hallway and cluttered desks in the evening add more impetus. New school year = new start. Where better for a new start than in a new home? 2. Festive incentives Ordinarily, buyers looking at property in September are keen to get moving. With Christmas on their minds, they want to have contracts signed and house moves completed well in advance of the festive season. Adding to the festivities this year are the tax duty slashes from chancellor Rishi Sunak. Will the removal of stamp duty levies on properties below £500k light a fire within would-be buyers? With plans for a pre-Christmas move supplemented by big savings, this excitement will no doubt drive them on. 3. An empty home is a clean home Does the prospect of keeping a home clean and tidy for viewings fill you with fear? If you have a family, having the children out of the house and at school during the day is a big bonus. An empty home is so much easier to keep tidy. This means you can prepare for viewings without the worry of your hard work being undone at every turn. No more painting of the Forth Bridge! 4. Cosy September marketing In September, your home is looking at its most warm and cosy, with lamps lit and the fire on. Never has it looked more welcoming and inviting. Capitalise on the misty evenings and create a haven of comfort and cheer for house-hunters. A ‘twilight’ image during this season can showcase your home at its toasty best. September weather may leave you feeling cold on the outside, but your home will be enticingly warm on the inside. 5. Size matters in September With the colder weather and darker evenings, homeowners often retreat inside. A home that seemed spacious in the summer months suddenly feels much smaller. Children who fled to the garden and local parks to meet friends in the summer are now flocking home. Sometimes with their friends in tow. All these ingredients provide motivation to move on and seek out a bigger house. 6. Freedom to view at leisure Not only is your home child-free in September – so are you! Harried parents trying to balance entertaining children with house-hunting are finally free. Free to focus on that essential task of moving home. Now the schools have gone back, mums and dads are free to view homes child-free. Free of distractions, questions and demands, parents are more relaxed. No need to rush through a viewing in a hurry, you are now free to view in a better frame of mind. Take the time you need to make a decision. 7. September’s garden glory Although you might not realise it, September is a great month for the garden. No longer scorched by the summer sun, the grass is looking lush and green. Shrubs are beginning to display an autumn glow … your garden still looks lovely. Even when the leaves start to drop, this can be a bonus, with views often improving. As well as the low sun providing a great backdrop for twilight photo shoots, it can also bathe the house in a lovely glow for early evening viewings. As you can see, September can be a wonderfully successful time to sell your home! But following the summer surge in home sales, will autumn sales follow suit? Rishi Sunak seems to think so; the Chancellor’s recent cuts to Stamp Duty now extend until March 2021 and with the Stamp Duty threshold raised to £500,000, less than 10% of buyers will have to pay any Stamp Duty at all. If you would like to know whether your home would be a good contender for a September sale, we’d love to hear from you – call us for a chat on 01246 211 646, or send us an email at info@newoakestates.co.uk. Whatever your plans, chatting them through in full confidence can help. We’d be proud to be part of your moving journey.
Aug 24, 2020
6 1/2 SIMPLE STYLING SECRETS
You know your home looks good. You’ve chosen your estate agent, the photographer’s booked and you’re ready to launch. But is there something missing….? Let us help you transform your home from ‘market ready’ to ‘market ravishing’ with our home styling tips. So, what is home styling? Home styling is ‘fine-tuning’ your home so a buyer can imagine themselves living there. Did you know that home styling can boost the number of viewings you get? The Home Staging Association reports styled homes are likely to sell three times faster than non-styled homes. Our six (and a half) simple styling secrets guarantee to give your listing that ‘show home sparkle’. Styling Secret #1: Scatter cosy cushions For a great styling secret that won’t cost you the earth, start with cushions and pillows. Pillows and cushions feature in rooms across the house. Learn the psychology behind cushion placement to transform your home. Bedrooms are places in which we sleep and living rooms are where we lounge, stretch out and relax. As such, styling pillows and styling cushions need different approaches. Three is the magic number and this works throughout our styling tips. In the bedroom, keep it simple and laid back. Layer three sizes of pillows and cushions for effect. Start with crisp white pillows at the back followed by a contrasting cushion at the front. On point for hotel-style glamour. Buyers love easy, neutral tones in living rooms, so if you love colour, save it for your cushions and throws. And if you haven’t updated your cushions and throws for a few years, now might be the time to treat yourself. Styling Secret #2: Bowl them over with fruit Food for thought…why not influence buyers with bowls of fruit? Apples are a winning choice for several reasons: Cost – apples are a bargain fruit, selling for as little as 10p! Freshness – apples tend to stay fresh and attractive much longer than other fruits. This means you won’t have to make extra shopping trips to freshen up your display. (Top tip – when not on display, store them in the fridge to extend their appeal by weeks). Symbolism – bright reds and greens are more than eye catching; they also symbolise health and vitality. Also try oranges, or lemons and limes. But keep to only one or two varieties for maximum style and impact. Styling Secret #3: Freshen up with flowers Keep it simple, fresh and in keeping with the character of your home. Remember to keep things balanced when it comes to home styling. Decide between a bowl of juicy Granny Smiths and a vase of sunflowers, instead of both. Choose the right floral display for each area. A hand-picked posy is perfect for a country kitchen. Tall, tasteful lilies add elegance to a large dining table. Don’t forget bedrooms too – a mini-vase on a bedside table with a small sprig of seasonal flowers is a lovely touch. Top tip: make sure to snip off the pollen from the stamens. Not only will this prevent stains, but it will keep your lilies flowering longer Styling Secret #4: Tasteful toiletries Don’t have the funds for a big-budget bathroom makeover? Don’t worry. Why waste money you could be spending on your dream home renovating the one you are selling? Accessorising your bathroom can be simple, low-cost and fun. Cast some mood lighting with scented candles. Grouped in glass holders by the bath and in alcoves, this looks great. Ensure they are lit for viewings to create a soothing atmosphere. Pack your regular toiletries away out of sight. Indulge in luxury versions, for viewings only. The White Company and Molton Brown are both brands that have viewer appeal. Styling Secret #5: Fresh towels Freshen up the whole bathroom with new towels. Treat yourself to a set of brand-new white ‘viewings only’ towels and ask the family not to touch. Check out photos of hotel bathrooms for ideas of how to present your fluffy white towels. Rolled or folded both work well and add a styled feel. Depending on the size of your bathroom, there are many options. In smaller spaces, drape a folded towel over the rail. Larger bathroom with fitted-furniture? These look great with a pyramid of rolled flannels stacked on the shelf. Remember to stick to the rule of three on heated towel rails. Large bath sheet, medium bath towel, small hand towel. Styling Secret #6: Add a rug Play about with rugs to emphasise different areas of your home’s open-plan spaces. Placing a soft, fluffy rug in a living area helps to create a sense of relaxation and comfort. A hard-wearing rug under a table can define a dining area. If your rugs have seen better days, it may be time for an upgrade. After all, you can take them with you to your new home. Styling Secret #6 ½: ask a friend! Invite a trusted friend to be your home’s harshest critic, and to walk around with you as if they were a viewer. What jars, or stands out for the wrong reasons? Are any areas wasted, or cluttered? Do any rooms smell less fresh than you’d like? Ask your friend to be blunt, because your viewers will be. Listen with an open mind and make the changes they suggest; it could win you the sale. If you want more tips on home styling, or are thinking about getting your home ready to go on the market, we’d love to hear from you – call us for a chat on 01246 211646, or send us an email at info@newoakestates.co.uk. Whatever your plans, chatting them through, confidentially, can help. We’d be proud to be part of your moving journey.
Jul 29, 2020
GET MORTGAGE READY
LOOK GOOD TO A LENDER How best to prepare yourself to get the mortgage that’s right for you - Make sure you manage your finances well - Good conduct of your bank account is a major factor in whether a lender will agree or decline your application Don’t go over your overdraft limit - Another big red flag to lenders Don’t apply for any more credit - i.e. loans, credit cards, car finance/lease, store cards, interest free. Doing this can have a major impact on any application from both an affordability and credit score point of view Avoid pay day loans at all costs - Simply seeing these on your bank statements or credit file can lead to an automatic decline from a lot of lenders Regular and frequent online gambling transactions are another thing lenders don’t like to see on your bank statements Running quotes for insurance on one of the numerous online comparison sites can also have an impact on your credit rating so should be avoided Obtain a copy of your credit report from https://www.checkmyfile.com/?ref=mortgage1st&cbap=1&tap_s=253629-156973 You get a free 30 day trail and this won’t impact your credit rating. Checking your credit file in advance can be vital to ensuring you get the right mortgage deal Get on the voters role - Not being registered at your property can have a major impact on your credit rating and could lead to you being declined Lenders also don’t like it if you have numerous credit cards that are up to or very near their credit limits Don’t miss any payments - Banks & Card/loan providers will sometimes agree for you to pay something a few days late but often this will lead to them recording a missed payment on your credit file which may mean you are declined for a mortgage Having no credit can sometimes be as problematic as having bad credit – If you have never had any credit lenders have nothing to gauge how well you pay it back. Getting a small credit card and paying for things such as shopping or petrol and then paying it straight off will help improve your rating GET YOUR DOCUMENTS READY As a minimum we will need: Proof of ID and address (Ideally passport and driving license) Last 4 months bank statements - These must cover the full month and show all regular expenditure and income. If you have more than one account showing these, we will need 4 months’ worth for all accounts Proof of income – Last 4 months pay slips for all jobs and 3 years SA302s & tax year overviews if self employed Proof of deposit (if you are buying a property) These are the very minimum you will need, depending on your situation there could be more needed but your broker will confirm that OTHER USEFUL BITS We will need a full 3 year address history. Make sure this is as accurate as possible and includes all your previous addresses during that period and you provide the post code for each We will also need a full 12 month employment history (Where applicable), again as accurate as possible with the correct dates and explanations for any gaps We will need details of any credit commitments you have i.e. loans, credit cards, car finance/lease, store cards, interest free. For each we will need to know exact balances, monthly payments and who the provider is - If you don’t know this information you can either ask the debt provider or get it from your credit report If you want to consolidate any debts within your remortgage we will need an up to date statement for each showing the interest rate https://www.newoakestates.co.uk/mortgages
Jul 4, 2020
SWITCHING ESTATE AGENTS:
If you are considering switching estate agents, take a look at our latest guide – Switching estate agents: all you need to know to get it right. When you chose your estate agent, you did so because you believed they could sell your home. You felt so certain, you even put your name to it when you signed the contract. However, months down the line, hopes of lots of viewers and competing offers from eager buyers, are starting to fade. You find yourself wondering if the market has changed, or if your asking price was just too optimistic. Your estate agent seems to have lost confidence in their ability to sell your house for the price they recommended. “Would a new agent do a better job?” you ask yourself. If you find yourself in one of the following situations, it’s a natural next step to consider changing agents: Your house isn’t getting viewings Your agent is pressuring you to drop the price Your agent is not communicating with you Maybe you feel that your agent has actually done a pretty good job, but you’re ready for a change and a new approach. Or perhaps they haven’t delivered on their early promises, and you feel disappointed and disheartened. The road to choosing the right estate agent can be a bumpy one, and the idea of doing it all over again can leave you feeling daunted. But don’t worry, you don’t have to make this journey alone. We are here to give you the navigational tools you need to steer your course forward when switching agents, so you don’t take a wrong turn, and end up back where you started. Step 1 – Use your head and not your heart Before making a move, look at the facts. How many viewings have you had, over what period of time? Ask your agent how this figure compares with other similar properties on their books. Take a look at the property portals; are homes like yours going under offer, whilst yours remains unsold? Or have other properties remained on the market too? Ask your agent to share with you your online portal statistics. Do the figures show a steady level of interest throughout the time you’ve been on the market, or a declining number of views? Your agent should be able to interpret these statistics for you, explaining their significance, and how they relate to your property sale. Once you understand the current state of play, it’s time to check your Agreement. Step 2- Study the small print There are three main types of estate agent agreements. Make sure you know what you’ve signed, so you don’t get yourself in legal hot water by making a change: Sole agency agreement – this is the most common type of estate agent contract. This means that the estate agent is the only agent with the right to sell your home during the term of the contract but if you find a buyer yourself, you don’t have to pay the estate agent fees. Sole selling agreement – this is more unusual and essentially means that no matter how you sell your home, or who to, they can still claim their commission fee. Fixed fee – with this contract, you have agreed to pay a set amount on the sale of your home, regardless of the amount you sell it for. Often, fixed-fee agents charge some, or all, of the fee upfront. If you have paid anything up front, it’s unlikely you will be able to get this back if you switch estate agents. Also check your tie-in period. Most notice periods are 8-12 weeks, but some are longer. There may be a notice period, which you’ll need to factor into your plans to appoint a new estate agent. Step 3 – Research potential agents Once you know your rights to switch estate agents, it’s time to look for new agents to shortlist. Check out reviews on Google and Facebook to get an idea of other homeowner’s experiences of the agents you are considering. Ask friends and family too – which agents would they recommend, and why? Look at their online presence: if they have videos on Facebook or YouTube, how do they come across? Personable and enthusiastic? Or formal and flat? If they don’t resonate with you over video, it’s unlikely they will do in person. Step 4 – Become an ‘undercover agent’ A ‘mystery shop’ exercise is a really good way to see how they would sell your home, if you listed with them. Here’s how to do it: Pick a property in your area, one similar to your own. Call the prospective agent and ask them to send you details on the house you’ve picked, then only give them information based on what they ask you. (Some people find this a really challenging exercise to do – if this is you, ask a friend or family member and listen in!) Did they ask for your name and phone number? Did they give you their name? Did they ask about your buying position? Did they offer to register your buying requirements? How much did they ask you about your property search? How friendly were they? How interested and engaged in your query were they? Did they talk in glowing terms about the property you asked about? Did they discuss booking a viewing? Did they take your email or address? Did the details you requested from them arrive speedily? If the agent scores above eight, they are clearly competent and attentive and worthy of further consideration. Any lower, and they are failing to understand your needs, as a prospective buyer, which does not bode well. If you don’t feel they did a good job of selling the house you asked about, it’s unlikely they’ll do a good job of selling yours. Step 5 – Invite them to your home If you have reached stage five, there is a good chance that you’re feeling confident this agent can help you sell your home, and move on with your life. In this meeting, you need to understand: Their valuation – Do they support your current asking price? Or would they recommend a price drop? Precedent – which other properties have they sold in your area, that are comparable to yours? How long did they take to sell, and what price did they ultimately achieve? Fee – very often, the better, more confident agents will charge a higher fee. Especially if their marketing is of a higher quality. If you do decide to negotiate, see how easily the agent reduces their fee. How they negotiate with you is how they will negotiate with your buyer, after all. Finally…congratulations. If the agent passes all these stages with flying colours, you’ve found a new selling mate. Hopefully, it’s the start of a positive and fruitful relationship, that will see you selling and moving on with your life, and plans. If you are thinking about switching agents, we’d love to hear from you – call us for a chat on 01246 211646, or send us an email at info@newoakestates.co.uk. Whatever your plans, chatting them through, confidentially, can help. We’d be proud to be part of your moving journey.
Jun 6, 2020
YOUR PROPERTY’S ASKING PRICE
If you have had your house on the market for some time without success, dropping your asking price may seem an inevitable, if unwanted, next step. Your estate agent will often suggest this move if they have run out of ideas, motivation and most importantly, confidence in your asking price. But is dropping your asking price really the answer to selling your home more effectively? It’s true that for some properties, reducing the asking price can generate new interest from buyers who would have been previously unable to afford your home. It’s also a step that for some sellers is, unfortunately, necessary – if they have an urgent move, for example, or are facing repossession. However, with many houses – particularly premium homes – dropping your asking price is not always the answer, and it can even harm your chances of attracting a committed buyer. Whilst recent weeks have seen a pause in viewings, the buyers have simply been waiting in the wings for an opportunity to view homes, and now they can once again. Since we re-opened, albeit with safety measures in place, we’ve noticed an increase in buyers who are ready to offer, and willing to move quickly. To take advantage of this current heightened demand, now is the time to review your asking price and decide whether to stick to it or reduce. If you’re considering reducing your asking price, make sure it’s necessary and the reduction will make a positive difference to your chances of selling your home quickly. To help guide you, we’ve compiled the DOs and DON’Ts of dropping your asking price to help you get the result you want and move on with your life: DON’T drop your asking price by less than 10% – Or it just won’t make any difference to the interest you get. Buyers will usually look at homes 10% either side of their budget anyway, so you’ll need to reduce your asking price by at least that to get your home noticed by a new set of buyers. DO ask your agent why you need to reduce – Your home was originally valued based on sound research and by an expert in the local property market. What’s changed? Understanding whether your agent misjudged the market, or the demand has changed for houses like yours, will help you make the right decision to either reduce or to stick it out. DON’T keep making small drops in price – A price drop can cause suspicion amongst buyers who may wonder what’s wrong with it? Why have you lowered the asking price? A buyer may not want to risk buying a house that seems to be falling in value. A property with lots of historical price drops is inherently unattractive to a buyer, as each drop can signify a red flag, so make your price drop big and impactful, but make it just once. DO drop to the next Rightmove price band – You can find these by going to www.rightmove.co.uk and entering a search. The list of price bands that comes up is your guide as to the price your house should be marketed at. For example, there’s no point in having an asking price of £399,999 when the Rightmove price band is £400,000. By positioning your asking price in alignment with the search bands, your house will effectively show up in up to twice as many buyer searches. DON’T try to break the price ceiling for your road or area – Not only does this make buyers jittery, it will also make a surveyor nervous too. Unless you really can’t avoid it, try to price your home at less than the highest price sold in your neighbourhood. [Note: we have previously sold homes at prices that have broken the area ceiling, but they do need careful positioning to reassure buyers and surveyors, so please ask our advice if this is your situation too.] DO ask your estate agent the right questions before you drop your price – If you’re feeling pressure from your estate agent to reduce, or you have a moving deadline looming and can’t afford to drop your price, ask your agent what else could be done to secure that sale, other than reducing your asking price? Have a review with them and look at your marketing critically. Could it be improved? Maybe new lifestyle photographs would attract new buyers. Or showcase your home better with a ‘twilight’ image or aerial shot, to show your home in a new, imaginative way. DON’T give your buyers an excuse to make a low offer – Make sure your home is wonderfully presented, with every room polished and attractive, otherwise you’re literally leaving money on the table. Home styling can dramatically increase the ‘saleability’ of your home, and really helps buyers envision the lifestyle it offers. If you’d like to know about the home styling we offer as part of our marketing, we’d be happy to talk you through it and show you some of our styled photographs. Just drop us an email at info@newoakestates.co.uk and we’ll arrange it for you right away. DO give yourself some negotiation room – but not too much – On average, you can expect to achieve around 95% – 97% of your asking price, with 3% – 5% ‘given away’ in the negotiations with your buyer. This will depend on other factors of course, like how fast your local market is moving, the confidence in the housing market while you’re selling and how long your home has been on the market. Taking 96% as an average, losing 4% of a £400,000 asking price means you will eventually receive £384,000 on completion. But if you reduce the asking price to £375,000 say, you’ll only get £360,000 – a significant drop. Not only have you reduced by £25,000, you’ll also have lost an additional £15,000 in negotiations, putting your total ‘lost’ sale monies at £40,000, a substantial ‘loss’ of 10% of your original asking price. DO remember that sometimes it’s more valuable to you to be able to move on with your life, than to hold out for months – and sometimes years – for a few thousand pounds more. If time is not on your side, whether it’s a selling deadline, or a pressing personal reason for selling in a particular timescale, it may be time to let go of your price expectations, and time to start your new life chapter. Only you can make this challenging decision, but if you’d like to talk it through with us, we’re here to listen and guide, if that would help. You can reach us on info@newoakestates.co.uk – just ask for Paul or Sharon, for a chat in confidence. When your home hasn’t sold and you’re wondering if it’s the asking price to blame, use the above DOs and DON’Ts as a checklist to see if you’re doing everything you can to get your house sold. If your price per square foot is about right, you’re not trying to break the price ceiling for your area, and your home is presented in the best way possible, if your photographs showcase the lifestyle of your home, and you have time on your side to wait for the price you really want, then have confidence in your asking price. Because if you don’t, no one else will. Your asking price isn’t the end of the story; it’s the opening chapter. Having a strategy in advance will save you emotional stress throughout the process and offers the reassurance of having a plan to fall back on when and if things get tough. Uncovering the reasons your home hasn’t yet sold can help you make the challenging decisions at the right time for you and your personal circumstances, and we can help you discover these reasons with an initial chat. Just drop us a line at info@newoakestates.co.uk or call us on 01246 211646 and ask for Paul or Sharon – and let’s get you moving onto the next chapter of your life.