How to improve your property's kerb appeal

In this month's newsletter, we start off by offering our suggestions for improving your property's visual appeal from the outside, also known as kerb appeal.

We're also on hand with our guidance for first-time buyers looking for their ideal home, and there's news on both a strong start to the year for the mortgage market and rises in price across all key index cities in the UK.

How to improve your property's kerb appeal

 

Any estate agent will tell you that making a good first impression is key when presenting your home for sale. Potential buyers and renters are always extra vigilant when it comes to viewing properties, from the front gate to the back garden, meaning it’s even more important to present your home in its best light from the off. But even if you’re not looking to sell up, there’s something to be said for sprucing up the front of your home.

One of the best ways to do that is to maximise your kerb appeal, which refers to how striking your home is when viewed from the road. When you think about searching for properties online, how likely are you to click on details for a home if the lead photograph is rather drab? The homes that perform the best on property websites like OnTheMarket and Rightmove are the ones that can grab the attention from the off.

Thankfully, maximising your kerb appeal doesn’t have to break the bank!

1) Front and centre
The front door is always a good place to start, especially as it’s one of the first things that people see when it comes to your home. UPVC doors can be cleaned easily enough with the right product, and if you’ve a wooden door, why not consider a fresh lick of paint? You can also bring your garage or front gate into the equation for a bit of colourful synchronicity.

Giving your letterboxes and door handles a polish shows good attention to detail, but if they’re looking a little tired, don’t be afraid to replace them.

2) Plot your path to success
The path to your front door or outdoor paving stones can get dirty with ease, so applying some TLC, whether that’s with a pressure washer or a good ol’ bucket of warm water and a scrubbing implement will instantly help your outside space.

If you have paving stones, then keeping your weeds in check is also a shrewd move; pulling out the week killer for large front porches, paths or driveways will make things look far neater.

Gravel is a feature of many a home, and it’s also one that’s easily refreshed with a bit of colour. Locate some similar stones to your current palette and use a rake to spread them together and you’ll be surprised by how much it refreshes the approach to your front door.

3) Plant an impression
A simple touch, but an effective one. Adding some greenery around your front door suggests to the naked eye that you take care of your property and look after your home, so look into some potted plants to go outside your front door. Hanging baskets are another option if ground space is limited.

4) Window dressing
The windows on your front room are another area where little touches can make a big difference. Have a look into replacing your curtains or blinds with lined alternatives for a tidy appearance, or, if your windows aren’t providing you with sufficient insulation, you could even look at replacing them altogether.

5) Night Lights
Finally, take a look at the area around your front door at night and imagine how much more welcoming it could be with a bit of light. An outdoor power supply will help if you’re looking to install something akin to a classic-style lamp, but you needn’t go overboard; a solar-powered light is easy to install, charges itself during the day and won’t cost you extra!

First-time buyers: how to find the right home for you

 

The number of first-time buyers in the United Kingdom is now at its highest for over a decade. If you’re one of the thousands of people who are looking to get on that first rung of the property ladder, then finding the right home can be a daunting process. Follow our tips and you could be moving into your first home in no time at all!

Know your limits
Starting your search with a clear idea of what you can afford is a key aspect in terms of finding the right home. Oftentimes, first-time buyers are so excited at the thought of starting their property search that they begin with expectations soaring. Knowing your financial limit is key; before you start your search, we would recommend having a mortgage-in-principal approved so that you know exactly what you can afford. Starting your hunt by looking at homes twice your actual budget will only end in disappointment and will unduly extend your search – be realistic, set your limits and keep those finances in mind!

Don’t go it alone!
One of the biggest mistakes that first-time buyers make is trying to manage the whole process alone. Finding a good estate agent who will help you not only in the property search, but also during the financial process of buying a property, will be the difference between peace of mind and undue stress. Remember, it is the sole purpose of an estate agent to match properties with people, therefore as suitable properties are brought to market which suits your requirements you will be the first to receive property details if you’re registered with an agent – giving you the edge.

Half an hour, time to scour
Did you know that, on average, buyers spend just 30 minutes looking at a property before they put in an offer? Half an hour is not enough time to make a sound decision on purchasing a property! When you are new to the property game, it can seem awkward to spend too long looking around; however, if you are serious about the property then feel free to overstay your welcome. Check absolutely everything around the property – open cupboards, look at plug sockets, light switches, open windows and venture into the loft, if there is one. Having this in-depth look into the property will hone your mind onto the minutiae and take you away from the excitement of wanting to make an offer; it will also provide you with a “snagging list” which will be invaluable when it comes to haggling with the price. If you feel like you still have more to see around the property then arrange multiple viewings; seeing the property at different times will give you a better feel for the neighbourhood and your immediate neighbours.

Don’t be seduced by décor
One of the most difficult things to do when looking for a property, and often cited by even the most seasoned property purchaser as a difficulty, is to look past the current decoration. This can work in two ways; if you view a property with elegant decoration it is easy to fall in love with the aesthetic; however, keep in mind that the chic furniture will all be gone when you move in. The second way in which decoration can put a dampener on your search is that you dislike the taste of the current owners and can’t see through it. If you don’t like the presentation of a property, then try to look past the individual components such as curtains and carpets and instead focus on the bones of the room underneath; looking at the features of the room and the overall size as there could be a fabulous space just waiting to be uncovered.

Don’t take all of the credit
You have your mortgage-in principal, you’ve worked with an estate agent to find that perfect home within your budget and you have visited the property multiple times, checking everything from water quality to windowsills. The dream is practically complete; you have that contract signed and the countdown to completion is on – so now you’re on the home straight to first-time property bliss. How to celebrate? A new car that will look lovely on your new driveway, a large television to adorn your living room wall or an expensive sofa to relax upon? Whatever happens, before your property purchase completes do not take out any other credit lines whatsoever as this could put the property purchase in severe jeopardy. Some mortgage lenders will pull one final credit report before completion in order to ensure that your status has not changed – taking further credit out will endanger this so wait until your purchase completes before splashing out the cash.

Growth predicted for significant pockets of the UK

 

Significant sections of the United Kingdom can expect to see an increase in house prices after a strong performance in the year to January 2019. The average price increase for the entire country was 1.7%, with Wales leading the way with a rise of 4.6% closely followed by the Midlands at 4.4%.

Indeed, even the capital city which has suffered a slightly tumultuous period following the Referendum, has seen a 6.3% increase in demand from buyers up until the end of February 2019. The number of offers was also up by 7.5% in the year to February 2019; with strong demand for property outstripping the actual supply of properties available.

Elsewhere, mortgage approvals have continued to enjoy a rise with 66,800 accepted in January, up over 1000 from the previous six months’ average of 65,500.

This increased activity is all the more impressive considering that the BoE’s report suggested that property market activity had been muted, with the Royal Institution of Chartered Surveyors’ residential market survey also alluding to subdued enquiries, new instructions and sales.

“While buyers can currently expect to purchase at a reduced price in London, the opposite can be said for the rest of the UK with continued growth across the majority of regions, suggesting there are plenty of investment opportunities elsewhere. The Midlands, in particular, stands out as a region for investment, with house prices growing by around 4%. Amongst the headlines of falling house prices, it’s therefore important not to overlook the fact that significant pockets of the UK continued to be poised for growth.”

Mortgage market gets off to strong start in 2019

 

With almost 67,000 mortgages approved in January, 2019 has started strongly for the property market. Despite fears for the housing market this year, this represents an increase in activity from the end of 2018, showing that 2019 could surprise many when it comes to the upward trend in property.

“January’s rise in mortgage approvals is at odds with recent data and surveys which had suggested that Brexit and economic uncertainty could be having a dampening effect on housing market activity,” said Howard Archer, chief economic advisor to the EY Item Club.

The surprise seen amongst analysts indicates that the upsurge in activity is unexpected, but there are several factors that are contributing to the market’s current health. A major contributor is, of course, low interest rates in the market, which have supported purchasers and given the lending industry much confidence. Many current property owners have used these historically low levels in order to refinance their loans and find a better deal.

The emergence of first-time buyers as one of the major forces in the property market is another contributing feature to this unexpected upsurge, as well as the increase in mortgage applications, as for the first time since 1995 first-time buyer mortgages made up over half of mortgages approved in 2018.

The strength of the first-time buyer market in 2019 can be seen in the 25,000 mortgages taken out in the first month of 2019 by first-time buyers, according to banking trade body UK Finance. A total of 33,621 mortgages were approved to purchase a home last month, according to data from UK Finance which represents high street banks and building societies. This also represents an increase when compared to February 2018 of 1.8% - which is fairly significant considering the march towards Brexit was firmly taking place through February.

With summer firmly established as the most popular time to buy and sell, we are moving into a particularly busy time of the year for property and therefore, this resurgent health of the market should continue for the foreseeable future.