Summer is a great time to sell – your home will probably look at its best and there are likely to be plenty of properties available to buy. To make your summer move a great one, follow our seven tips for success.
Start with the maths
Speak to a solicitor / agent to get an initial feel for how much your property is worth and therefore your likely budget for buying your next home. Good advice on the sale price will also help attract buyers and generate competition for your property.
Contact a mortgage advisor
To avoid last-minute financing hitches, don’t delay too long the process of applying for funding. Getting a mortgage advisor’s input at this stage will give you an idea of your purchasing budget, and they can help you find an affordable, competitive mortgage deal.
Research the market
Look at what’s available where, so you start to have a good sense of what’s available in your budget. A solicitor / agent can also tell you about recent sale prices in your target area, and how quickly different types of property are selling.
Decide on your next-move essentials
You could even borrow the ‘MoSCoW’ decision-making method from the business world. It stands for ‘Must have’, ‘Should have’, ‘Could have’ and ‘Won’t have’, and is a useful filter when settling on your criteria for your next buy.
Be open-minded
Remember that some properties look worse online than they do in real life, and vice versa. So, visit as many properties as possible to help you sort the winners from the ‘also-rans’. These viewings may also give you ideas for presenting your own home in the best light.
Request Home Reports
These reports include a survey and valuation, Energy Performance Certificate (useful in the current climate!) and property questionnaire, and are very useful for helping decide whether a home is right for you. Even if it isn’t right for you, it will be helpful practice at
understanding these documents.
Factor in the costs of moving
These can include Land and Buildings Transaction Tax (LBTT), conveyancing fees, removal costs and even rental costs if you can’t move in immediately. It’s easy to forget these fees in the flush of finding the right property, but forgetting them could put serious pressure on your budget.
Maurice Allan, Managing Director, Residential Property
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