Whilst it is a well noted fact that moving home can be one of the most stressful things you do in life, it should also be a time for excitement! With the right support and advice from the experts, moving house needn’t be traumatic.
Letting your head take the lead before emotions become involved when finding your perfect home.
Here are some other top tips for taking the stress out of moving house.
- Know your limits
Before you start viewing houses, it is best to have a mortgage agreed in principal so you know your budget. If you have a property to sell, it is also important to have a valuation done as relying on a figure you may have paid for it previously won’t necessarily reflect the current market.
- Do your homework
Once you have your mortgage figure, it is time to factor in all the extra costs that you may forget, but will add up to your total spend. Stamp duty is 1 per cent on properties from £125K up to £250k, but just a penny more and this increases quite significantly to 3 per cent, then 4 per cent over £500k, 5 per cent once you exceed £1 million and finally 7 per cent over £2 million.
There are search and registration fees, costs of surveyors, estate agents and solicitors to pay. Knowing this at the outset will avoid any upset further down the line.
- Compare the market
Look at other houses in the area and what they have sold for, ask the experts – get the inside scoop from estate agents. The general consensus is the market is improving but there could still be bargains to be had, if you are able to move quickly.
- Chain reaction
The main factor which brings uncertainty and delay into moving is the chain. If you can break the chain and be a cash or first time buyer you will be more appealing to a seller. It’s not suited to everyone but looking at selling your home and getting temporary accommodation can be a good option to improve your bargaining position.
- Look then look again
As well as having a second viewing to check if your sofa will fit and how you will make use of the garden, it is important to take a step back and look for any problems. Your mortgage company will send a surveyor to check on value but it is important to get your own professional in to do a home buyers report and look at any structural issues that may not be seen by the untrained eye. The principle of “Buyer Beware” means that there would be little that you could do if such issues came to light after you have legally committed to your purchase.
- Get your ducks in a row
There are different ways to own a property jointly and you will need to take advice as to what is best for you. Think about the future, and make provisions for the worst case scenario. When buying a new property, it is advisable that you consider your life insurance policy, along with your will (which you ought to have) and make sure all these are updated to reflect your new home.
For further advice in relation to a property sale or purchase, please contact us. Our team of property solicitors provide a range of pricing options to assist in your house move. If your property sale or purchase is a commercial venture, our dedicated team of commercial property solicitors are ideally placed to assist.