Here's your June Update

When is the fastest time to sell during the summer?

Did you know that the time you choose to list your home for sale, is a crucial factor in the price you might achieve for it? This is because demand drops during certain months of the year, leading to fewer potential viewings and offers. Unfortunately, buyers are likely to be more cautious about a property that’s been overlooked for a while, which could affect its value.

You may have heard spring is the best time to sell. This is usually true. But, if you’ve missed the spring boom, summer may seem like a more manageable timeframe to get your home on the market. Although summer is one season, it lasts a few months, so demand will likely rise and fall for various reasons.

However, according to Rightmove’s data, June and July also prove to be strong months for offers, with the average home only taking 5-7 days longer to sell than the March peak. *

Of course, the national picture won’t always match what’s going on locally. Regional levels of supply and demand can also have a big impact on prices.

Luckily, our team make it their mission to keep our finger on the pulse. We can advise you about the local market and how your unique home fits within it. We also understand what buyers are currently looking for, which could help you sell quickly over the coming months.

Contact us to arrange a valuation and discuss your summer sale plan.

*Rightmove data reverse-engineered by TheAdvisory.co.uk

Ten steps to finding your perfect home

If you are searching for a home, you will want to follow these steps to help you along the way.

1. Set a sensible budget

To help set a sensible budget, it can help to involve a specialist mortgage advisor at this early stage. Decide on a monthly mortgage repayment which is affordable for you, allowing for this to increase in line with interest rates. Then consider how much you can afford to put down as a deposit. With these figures in mind, work out how much you would like to borrow and establish a price range for your property search.

2. Get your paperwork in order

One of the most common mistakes buyers make is not getting a mortgage agreement in principle. If you are looking to purchase a new house with a mortgage, this can be a useful step in your search.

3. Decide on your deal-breakers

With your budget in mind, decide on your deal-breakers. Determine what you need from your home – location, number of bedrooms, outside space and parking. Then make a list of things you would like, but are not essential. Decide what you are willing to compromise on and what you are not.

4. List your existing home

If you need to sell your existing home, it can be a good idea to list it on the market before you start the search for a new one. This will make you more appealing to prospective sellers and could avoid some of the delays associated with being in a chain.

5. Start the search

In addition to using the popular property portals, register your interest with your local estate agent. Give as much information to your agent about your budget, timeframe for moving, requirement to sell before buying and your dealbreakers.

6. Think ahead

Think about what might be important to you in the coming years. If you plan to start a family, for example, consider the availability of local nurseries. Look for good local schools and place yourself well within their catchment areas. If you are approaching retirement, it may be worth considering single-storey living, as well as looking at the proximity of local transport and facilities like shops and GP surgeries.

7. Maximise each viewing

When you look at a prospective new home, look carefully and thoroughly. Imagine yourself living in the home, visualise how you would use each room and whether the layout of the house would work for you. Keep an open mind and think about a property’s potential, looking beyond the current décor and the seller’s furniture.

8. Consider the surroundings

It may be a cliché but, when it comes to buying, think ‘location, location, location’. Will you feel comfortable in the area, and does it have everything you need?

9. Choose head over heart

Buying a house can be a really emotional process for many of us. Avoid being swept away by a property you fall in love with, but which is outside your budget or falls short of your dealbreaker list.

10. Take your time, but not too much time!

Making rash decisions and rushing are things to avoid when buying a new home. Equally, leaving it too long to take action may mean you miss out.

If you are looking for your perfect home, check out our latest listings.

Renters are locking in longer tenancies

It has been estimated that there are currently three times more tenants looking for homes than there are rental properties available, making it the most competitive rental market ever recorded. Quarterly tracking by a popular property portal shows that average asking rents outside London have increased by 11% to £1,088 per calendar month. In London, asking rents have increased by 14%, to an average of £2,195 per calendar month.

Market analysis from a popular property portal has described how a shortage of rental homes, combined with a strong demand for the properties available, has led to a greater number of tenants choosing to renew their agreement rather than re-enter a competitive rental market. A study among almost 1,300 landlords found that the most common length of a tenancy is over two years.

With the rising cost of living, renters are keen to find tenancies with bills included - demand has increased by 36% this year, versus last year. The study also found that homes with balconies, communal gardens, properties allowing pets, and those offering zero deposits all came equal second, with enquiries jumping by 22%.

If you are thinking of letting or re-letting your property, get in touch to find out more about our services.

*Rightmove

A good relationship with your landlord is key

Developing a positive relationship with your landlord has many benefits. By communicating clearly and abiding by your tenancy agreement, your landlord is more likely to trust you to remain in their property.

In turn, this should encourage them to make your tenancy as comfortable as possible, especially if they want to provide a secure, long-term let. Here are a few ways to set off on the right foot.

First impressions count

Your first meeting with your new landlord is an excellent opportunity to establish a good rapport. Even if you’re feeling anxious or have questions to ask, being polite and friendly will make discussing any issues or concerns easier for all parties.

Keep your end of the deal

Landlords often feel overwhelmed by the process of managing their lets.* By taking good care of your landlord’s property and paying rent on time, you’ll quickly become a valuable asset. And with less to worry about, your landlord is more likely to respond promptly and fairly if any problems arise down the line.

Part on good terms

Don’t leave your landlord in the lurch when it's time to move on. Giving a few months’ notice before your contract expires will be much appreciated. If you can recommend an equally reliable tenant, even better. Tying up any loose ends should also be dealt with as professionally as possible to help you secure a favourable reference if required.

Are you excited about finding your dream rental? We may have the perfect property for you. Browse our rental properties here.

*Direct Line.

Bath Festival of Motoring 2022

When: Sun, 19 Jun, 10:00–16:00

Where: Walcot Rugby Football Club

Click here to read Bath Festival of Motoring 2022.