Another New Year, a new beginning. If you've been thinking about renovating your home for a while, you can finally make your house dreams come true now that the festivities are behind you. 

Outdoor living 

Spring will soon arrive, and your garden and emphasis on outdoor living can finally begin to take shape. You want the best outdoor living space you can create; you've read all the magazines, watched all the programmes, and your mind is teeming with visions. Try adding an eating area, an outdoor working space, a pond, an orchard, and some sleepers, and see what else happens along the way! 

Working from home space 

If you would rather develop an indoor workspace, now is your time to get cracking. With more people working from home, inspiration for this trend can be found anywhere. Often, it’s about making it yours with individual touches while creating a comfortable place to work. 

Going green 

Perhaps you would like to increase the energy-efficiency of your home. Installing solar panels is a great way to do your part for the environment while saving some money. In some cases, you may even be able to sell the electricity you produce to your local energy supplier. This could mean your solar panels will pay for themselves, but typically the only cost after installation is for annual servicing. If you work from home, you might consider installing insulation to reduce your ever-increasing heating bills. 

Creating extra living space 

You could create another bedroom, a dwelling space for an elderly relative, or a new family. Alternatively, removing walls to modernise or create extra space is still challenging and will remain so in 2023, given the cost of raw materials and the shortage of good tradespeople available to carry out this work. So careful planning is essential, or it might not happen until next year! 

Bathrooms 

January is a great time to get an awesome deal on a new bathroom, despite the waiting lists to get it fitted with large, branded suppliers or individual bathroom fitters. There is nothing to stop you from buying and booking now, and with some luck, the design of your choice could become a reality in time for summer, or even spring! 

A new kitchen 

Buying a new kitchen in January leads to huge discounts and when completed, adds real value to the value of your home. As the central hub for any home, bright spaces and light colours are on-trend, as are natural material surfaces matched with metallics. Seamlessness and fluidity between rooms with open-plan living or blending outdoor areas with the heart of any home are still on the to-do list of many this year. 

An exciting year 

Whatever you decide to do in 2023, whether you are renovating then selling or buying a newly renovated property, there is no doubt that there are some interesting and exciting ideas waiting to be implemented and already in place in many homes. 

Searching for your perfect new home? Browse our properties today. 

Becoming a landlord for the first time is an exciting prospect. There is money to be made if you get it right, but there are plenty of costly pitfalls lurking if you get things wrong, so be prepared to do a good amount of research so that you can protect your investment.  

Here are all the key things you’ll need to know... 

Your property 

Decide what type of property you are going to let. Are you letting your own house? Perhaps you are looking at buying a new-build apartment or flat, which will afford you lower maintenance costs over the years. A student house will not require much in the way of good schools and other facilities if you plan to let to young families.     

The right mortgage 

If you are starting from scratch and buying a rental property for the sole purpose of letting, you will need a buy-to-let mortgage. The deposits for these mortgages are much higher than a conventional mortgage with a minimum deposit of 25%, and up to 40% for more competitive interest rates.  

If you plan on renting your existing home there should be no need to re-mortgage, however you must inform your mortgage provider to seek permission to let your home.  

Know your responsibilities  

This is the big one, being a landlord comes with many legal and moral responsibilities, the good news is that many of these legal requirements will protect you as well as your tenants.  

Deposits  

When you let your property and take a deposit you are required to protect it, there are a few ways you can do this from government-backed schemes, insurance schemes and letting agents.  

Contracts 

You will need to create a contract between you and your tenants, setting out the terms of the rental agreement, covering notice periods for eviction, property inspections and who is liable for repairs and certain contents if let as a furnished property.    

Right to rent  

Just as employers need to take the necessary right-to-work checks, as a landlord you will need to check that your tenants have the right to rent in the UK.    

Landlord license  

In some instances, you need to apply to your local council before you let the property.  

Safety  

Apart from gas, water and electrical checks and certificates, consider smoke and carbon monoxide alarms. Perhaps lesser known is the legally required EPC - Energy Performance Certificate. You will be responsible for structural repairs, and the responsibility of making sure the property is safe to live in belongs to you. 

Making a profit 

You may have heard the term rental yield, what is it? How is it calculated?   

Rental yield refers to the level of profitability of your rental property.   

To calculate rental yield, divide your annual rental revenue by the purchase price of the property. 

If you let your property for &500 per month and paid &100,000 to purchase the property.  

Divide 6000 by 100,000, multiply by 100 to get a percentage figure. 

The yield is this case is 6%. 

It’s generally expected a good rental yield is 5%, however much higher figures can be achieved!  

Letting agents 

If you are a first-time landlord a great route to take is to use a letting agent to take care of everything for you. There are different levels of service letting agents can provide. It could be that you hire a reputable letting agent to find your tenants with references, create a contract and secure the deposit while you take responsibility for maintenance or repairs.  

Many new landlords opt for a fully managed service. It will involve paying a little more commission on rent, but you will sleep soundly at night and should have more time to enjoy life! 

Insurance  

Having the right insurance will also help you get a good night’s sleep! 

Landlord liability insurance covers you against legal claims from injury to your tenants if you are found responsible, as with any insurance you can tailor your policy to suit your needs.  

Just as when you buy a house to live in, you will have to purchase building insurance before you purchase the property. Don’t forget contents insurance, particularly if you have let your property as furnished.  

Conclusion 

There is much to know and learn, so a good letting agent might be the best choice, just as finding the right property using a good estate agent makes life much easier.     

Looking for your perfect first buy-to-let rental investment property? Contact us    

The Christmas lights have disappeared, it’s cold, and it seems like summer is so far in the future that it’s never going to happen, while you want to go back to the Christmas holidays, when you could relax with friends and family and plenty of good food. 

Soon it will be spring, and with it comes renewal. So why not make a little effort now to usher in some change? Here's some inspiration and a few practical tips for you to try that will help you shake off the January blues. 

Try something new 

The best way to snap out of the same old cycle is to try new things. If you are not ready to get back to your usual exercise routine, then perhaps you could try doing some home improvements. Let’s start with some simple things. 

Let there be light 

Simply adding more light to your home is a great way to create a better environment and a more cheerful living space. Soft lighting, which creates a warm and homely feel, is one way this can be achieved. 

Mirrors 

Hanging mirrors near windows will reflect more light and add another dimension to any room. It’s a complete illusion of course, but it works, as a blank, oppressive wall seems to suddenly become another room. 

You can rely on nature 

The lines between indoor and outdoor living are rapidly disappearing in this post-pandemic world. Bring some of nature’s wonderful colours and smells indoors by adding a few extra plants, flowers, or even fruit trees to uplift any room in your home. 

Furniture   

Whether your furniture consists of modern items, antiques, or even a freebies sourced from Facebook; sand things down, restore them, or simply paint them. Perhaps you already own the perfect table that, when painted, will transform your dining room. Sideboards and cabinets painted in bright colours are on-trend, or if you prefer the classic look, it will make you feel great and complete a room. 

Change your surroundings 

Pictures, paintings, and collectibles — authentic art that has been hand-painted by artists and captures the beautiful scenery of a place you love — are a great way to help alter your surroundings. Antique dealers always have something small and affordable, but if cost is not a concern, add to an exquisite collection. You can even get creative and make something with wood, or maybe photography or sewing is your thing! 

Get out and enjoy some viewings 

Perhaps you are determined to move and do not want to spend a single pound on anything in your home. If that’s the case, rid yourself of the January blues by going to see potential properties. Online viewings are an awesome way to see multiple homes, but there is no substitute for house viewings, to see if you get that special homely feeling. 

Get your 2023 property search underway! Browse our properties