Buying a house, it is often claimed, is one of the most important decisions you ever make.
Buying a home is a decision which, thanks to the difficulty of getting on the housing ladder, more and more people are taking later in their lives. But buy the right house at the right time and the benefits in terms of long-term security could be incalculable.
Here at Eleanor Charles Homes the team has but together some of our top tips for anyone contemplating buying their first home. Much of the advice you will already know and is common sense and is still relevant to existing homeowners planning to move house in the not so distant future.
Check out possible areas where you can afford to buy.
Put together the main pieces in your property jigsaw – how much you can afford, how far from your place of work you are prepared to live, etc. – then track down areas which would enable you to complete the jigsaw to your satisfaction.
Try to pinpoint up-and-coming areas.
When you're looking at a property, the most important thing is knowing its history. You want to know how much traffic it gets and what projects are planned for improvement or replacement in the near future; if there's anything significant happening with regards regeneration then this will be an even better investment than one without any news on that front!
Ensure your finances are in order.
It is extraordinary how many people find their dream home and then phone their bank manager. Don’t make the same mistake. Unless you are buying without a mortgage, find a lender you trust and establish how much they are prepared to lend via a mortgage in principle. You also need to work out how big a deposit you need.
Look for properties where you can add value by improving or extending them.
There are many benefits to investing in property that can be extended as your family grows. Not only do you get a return on investment, but there is also tax relief for paying extra fees related with adding onto or renovating an existing home!There are plenty of reasons to invest in a property which can be expanded as your family grows. These include new build properties or those located in conservation areas with tough planning restrictions - but if you're looking for something that will last over time, consider buying an extended home ownership opportunity instead!
If you’re thinking of moving, chances are you’ve pictured yourself in your new home in time for the end of the year. What better place to spend the festive season, and kick off 2023, than in your new pad.
Why is moving home taking so long at the moment?
From the time a home is marked sale agreed, it currently takes 150 days on average to reach that all-important completion day. But that’s 50 days longer than during the same period in 2019.
It’s taking longer for home-buyers to get into their new homes because there’s a backlog in the conveyancing process: the thing that happens between having an offer accepted, and getting the keys to your new home.
According to Right Move there are currently more than half a million homes sold subject to contract, with buyers eagerly awaiting completion. That’s 44% more than in 2019.
While there’s been a slight easing in buyer demand since last month, this isn’t going to be enough to ease the delays we’re currently seeing. With lots of people still wanting to move, estate agents are still looking for buyers who are likely to result in a sale going through as quickly as possible.
The home moving timeline
There are a number of plates you’ll have to spin when moving home, including the buying and selling of properties. Below, we’ve included a run-down of what’s involved and how long you can expect each phase to take. It’s worth bearing in mind that if you’re a first-time buyer, this process could take significantly shorter than those involved in a lengthy chain.
Moving into a new home, setting up a new kitchen? Check out our guide to what you'll actually use in the kitchen.
Chef's Knife
A good knife is a chef’s best friend. This is one of the few things that you’ll thank yourself for investing in. Carbon-plated stainless steel will stay sharp over time, but go to a specialty store to find the best match for you. Choose a knife that you feel comfortable handling. It should feel balanced in your hand, easy to hold and control, not too heavy, but definitely not flimsy. Believe us, you’ll be using it a lot, so take good care of it.
Metal Spatula
A sturdy metal (or high-quality plastic) spatula is vital for flipping, tossing, and serving all kinds of foods. Think eggs over easy, puffy pancakes, roasted veggies, sauteed meats, baked salmon…we could go on.
Whisk
Sturdy metal whisks come in all shapes and sizes. Choose a mid-sized whisk with a handle that fits comfortably in your hand. Use it to mix dry ingredients together before baking, stir eggs for a frittata or emulsify a vinaigrette.
Slotted Spoon
Whether it’s wooden or metal, a perforated (or slotted) spoon acts like a miniature strainer, removing solids from liquids—think pulling potatoes or small pasta noodles from boiling water.
Instant-read Thermometer
Easily (and quickly) check to see if your meats have cooked enough.
Saucepans
A large saucepan is essential for making pasta, boiling potatoes or corn, and simmering big batches of soups and broths. Look for a 5- or 6-quart size. A smaller saucepan (1.5 or 2.5 quarts) comes in handy for smaller items, like boiled eggs, rice and porridge.
Immersion Blender
This handheld tool makes it so easy to blend soups, smoothies, and pestos with the push of a button. I find much easier to handle than a traditional blender, and it’s great because it takes up much less space, too.
Colander
Wash fruits and drain pasta, veggies and other boiled foods. I like a colander that can balance on the edges of my sink, but a classic footed colander is just fine. Look for metal or ceramic, which are sturdier than plastic.
Prep Bowls
This might sound like a no brainer, but it’s important to have a variety of mixing bowls. Get ones that are metal or glass because they’re less porous than plastic. They won’t pick up stains or odours.
Cutting Board
A sturdy, stable surface is essential when it comes to prepping your food. A wooden cutting board will help protect your knife from dulling quickly, as well as make cleanup a breeze
You pay a mortgage and your payments go towards paying for your home, not into a landlord's pocket
If you pay £750 per month for rent, that’s a whopping 9K a year! You might as well just keep the money and not put it tIf you pay say £750 per month in rent, that’s £9,000 per year which you are spending that you will never get back. The money you’ve spent on rent will likely completely cover your landlord’s mortgage repayment figure, any insurances or management fees and leave them with a profit. This is especially true if they have an interest-only mortgage or have no outstanding loans on the home. If you are renting, and have enough money for a deposit and can afford the monthly repayments, it might be time to take the plunge and buy a home so the money goes towards your home, and not theirs!
You could make a profit when you sell if house prices rise
Homeownership is one of the most important financial decisions you'll make. When it comes time to sell your house, remember that its value may be higher than what was paid for in years past - this could mean more money at retirement or when trying purchase another property! Beware that fees apply when moving home, including stamp duty and legal and estate agent fees, so this will reduce your overall profit.
The home will be yours when you've finished paying off your mortgage
Your biggest win after years of saving and paying off your mortgage is fully owning a home without any outstanding payments. The advantage to this? An influx in extra cash that you can use for anything - like buying more things!
You may decide this is important to you for when you retire, so you have fewer outgoings and financial responsibilities. An average mortgage term is somewhere between 25 and 30 years, so if you will likely retire in 25 to 30 years time, you may want to get a mortgage as soon as possible.
You don't need anyone's permission tot have pets or redecorate
This might sound obvious, but your home is yours to do with as you please. You can decorate your home any way you wish. Want a giant tropical fish tank? Go for it. Thinking of painting your downstairs loo walls bright orange? Well, it’s your home. Been waiting forever to have a hot tub in your garden? Sounds fab. If you’ve been waiting until you own a home to get a dog or cat, you’ll be able to when you buy your own home. Be sure to check that the home is suitable and safe before you adopt though!
You won't be asked to move by your landlord
Yes, another obvious one, but if you own a home, it’s yours! You can live there for as long as you want as long as you continue to repay your mortgage, every month, on time. Every payment you make is a signal of responsible credit management, and can help improve your credit score.
You may be required to move if your home becomes subject to a compulsory purchase order. This would only occur in cases where the government or other body requires land for construction of critical infrastructure, such as new roads and train lines like HS2 - which is currently under consideration by British authorities!
England will be the first country in the world to introduce mandatory electric car charging points for new-build homes.All new homes in England will have to be fitted with charge points for electric vehicles, as the government seeks to facilitate the infrastructure improvements necessary for the planned mass-adoption of electric vehicles.
The news comes as Department for Transport has announced a public consultation on the subject. If the planned changes to building regulations go through, it would force homebuilders to install charge points so potential owners could easily charge their plug-in hybrids and electric cars at home. The move would mean buyers of new-build homes would not need to make use of the Government’s home charger subsidy scheme, which has seen almost 100,000 wall-boxes installed.
No mention has been made of how new-build houses without off-street parking would be fitted with charge points, but last week the Government invested nearly £40 million into research projects that included wireless charge points, and charge points that rise up from the pavement.
The drive towards EVs comes as the UK Government sets out to meet stringent targets for air quality and pollution caused by internal combustion engine emissions. From 2040, the £1.5 billion Road to Zero strategy will see the sale of all new cars without electrification banned. Details of this remain thin on the ground, but it is understood new cars will have to be able to travel for 50 miles under battery power in order to be allowed to remain on sale, essentially removing all cars but pure electric cars, plug-in hybrids, and hydrogen cars from new-car showrooms.
In a separate announcement, the Department for Transport said all public charge points should accept contactless payments, with no need for a subscription, from next year, saving EV and PHEV owners from having to sign up with the numerous separate companies that run the UK’s network of public chargers. The DfT is also further investigating ‘smart’ charging, which makes best use of peak and off-peak electricity rates, and could see EV’s act as a hive-like network of power storage when large amounts of electricity are generated by wind turbines, for example.
As well as Road to Zero, the Government has also announced the UK is to be carbon neutral by 2050. With transport accounting for around a quarter of all greenhouse gas emissions, improving and reducing emissions from cars is a key target on the path to achieving this ambition.
Announcing the plans to mandate charge points in new-build homes, Transport Secretary Chris Grayling said: “Home charging provides the most convenient and low-cost option for consumers – you can simply plug your car in to charge overnight as you would a mobile phone.”
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Checklist for when you move!
Preparing to move – first steps
1. Firstly, get the biggest job out of the way and decide how you are going to move everything from your old home to your new home. If you’re thinking about a professional mover, try getting 3 – 4 quotes.
2. Communication is key. Keep in touch with your Conveyancing Solicitor and Estate Agent, ensure they are all prepared for completion day, after all, they are working for you. Inform your Conveyancing Solicitor of anything that could be an issue, no matter how small, they can judge if they need to do anything to ensure a smooth transaction.
3. Change of address. Start working through the key contacts checklist to let everyone know you are planning to move home. Most contracts require a minimum of a month’s notice so the sooner the better. Don’t forget the DVLA, TV License, Store Cards, Broadband.
4. Spring clean and remove old items. Your local council maybe able to arrange the removal of large items you no longer want. This service sometimes has a small charge. Start packing the items that you do not use frequently such as things from the spare room.
5. Arrange for child and pet care. Not only can children and pets be a distraction but it can also be an unsafe environment. If possible arrange for someone to help look after them on the day, this will allow to concentrate on getting moved as quickly and efficiently as possible. If the children are old enough to help, find age appropriate tasks for them so they can feel part of the move and help with workload for everyone else.
The week before the move
1. Confirm the dates and times of moving day with all parties, including the removals company.
2. Get your new services and utilities in place. Arrange for Gas, electric, water and most importantly you’re broadband so you have something good to watch when you crash out at the end of the moving day!
3. Finish packing the rest of the house up and make a special essentials box that will be transported with yourselves. Essentials box to include; kettle, tea and coffee, milk, toilet roll, snacks, phone charger, small radio, sellotape, pens, scissors, takeaway menus for the new house and a vase (for potential house-warming flowers!).
4. Pack an overnight bag as if you’re going away for the weekend. It saves trying to find clothes and toiletries that are packed away for the first night and day once you arrive in your new home. Sounds obvious but this could save you tearing your hair out trying to find your toothbrush and slippers by rummaging through all your nicely packed boxes!
5. Prepare a note for the new owners explaining how things work and where they can find useful items such as the boiler switches, aerial sockets and alarm codes. A few kind thoughts will go a long way when it comes to mail redirection and injects some humanity into the whole process. Also include details of who currently provides the utilities at your property as it is not always obvious.
Moving day
1. Meter Readings. Before you leave, get a final meter reading of all your metered services and call the relevant suppliers to inform them of the numbers so you can settle up the final balance and close the account ready for moving. If you don’t do this you could end up in disputes with the new owners and it’s just added stress when you could be relaxing in your new home. Remember to also take all the appropriate meter readings at your new property.
2. First thing to unpack. Make up your new beds in the new house first. So when you’re tired later and you can’t face anymore work, you can hop straight into a comfy bed and get a good night’s sleep. This way you will feel revived and ready to crack on again in the morning!
3. Have some cash ready for when you order food in. It happens to us all, you will rope family and friends in to help and they’ll need to be fed!
4. Home insurance. It may be the last thing on your mind, but ensure your policy has started and everything is covered for your new home. It would be awful if you were putting boxes in the loft and your foot goes through the ceiling, just to find out your home insurance policy has not started and that you’re not covered.
5. Introduce yourselves to the neighbours. Making friends with the neighbors can make a world of difference to your enjoyment whilst at home. Having good neighbors can be a great benefit, they can help keep an eye on the place while you’re on holiday, collect packages when you’re not at home and they might invite you to their parties so you’re not left being.
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