4 Ways to Boost your Kerb Appeal this Spring
With spring just around the corner, now is the perfect time to spruce up your home’s kerb appeal. 🏠 Front Door: A fresh coat of paint on your door and surrounding trim can go a long way towards making it look neat and inviting. 🏠 Lighting: Consider adding solar lights along walkways or installing new lanterns on either side of your front door for added charm and illumination after dark. 🏠 Add Accessories: You don’t have to spend big money on expensive landscaping materials, instead, opt for smaller accent pieces like planters or outdoor furniture that won’t break the bank but will add personality to outdoor spaces like patios and decks. 🏠 Tidy Garden: Keep up with regular garden maintenance by mowing regularly, weeding flower beds, pruning shrubs/trees as needed, etc., as this will help keep your garden looking neat and tidy throughout springtime (and beyond!). By doing a few simple things this season you’ll always have an attractive home exterior that buyers will love!
Are we on the verge of another house price boom?
With all the conflicting news reports you might think it crazy to even ask if another house price boom might be on the cards, but it is a question asked by one mainstream journalist recently and when you start to dig a little deeper it is perhaps not as crazy as it first sounds. However, before we get too excited we have to realise that previosu predictions of cuts to the base rate have not prevailed and in fact in its last meeting the MPC were split, with two members even voting for an increase to 5.5% so there is obviously still reason to believe 2024 may not be the year for a boom but there are lots of factors that will be contributing to pressuring the market that way, not least it is widely expected that the Government will look to gain some favour prior to the upcoming election. Low Transaction Levels In the ten years to 2007 the average number of household transactions in the UK was around 1.3m a year, falling as a consequence of the financial crisis to an average of just under a million a year for the next twelve years until we saw numbers peak at around 1.2m in 2021 and 2022 and then dropping back to just 900,000 in 2023. Could this be a sign that there is huge pent up demand in the market? It could be reasonable to suggest that perhaps 300,000 to 400,000 people sat on their hands last year and pushed back their move waiting for inflation and interest rates to stabilise. A theory that would be backed up by an uplift in buyer activity this year, which is exactly what has happened. In their latest report Zoopla have indicated that there has been an 11% increase in demand for homes, Richard Donnell, Executive Director – Research at Zoopla says ‘The fact we have almost a fifth more homes for sale than a year ago is helping, providing buyers with more choice and boosting the chances of sales being agreed.’ I would go a step further and say the increase in available properties is giving more people confidence they will not have to compromise on their next move, something many home owners were nervous about during the really buoyant markets in 2021 and 2022, when many people considering a move put things on hold because they were afraid they’d be pushed into moving without being able to find the right place for them. But now in a steadier market that has more choice many of these potential sellers are now being tempted back into the market. Are prices going to fall in 2024? If only I had that crystal ball I could tell you the answer to this question. Lets look at the facts around house prices, in the last five years average house prices have soared by around 20% or £60,000, while 2023 saw the average price of a house in the UK drop by just 4% This drop appears to have plateaued toward the end of the summer and has remained relatively steady since. Interestingly tracking GDP, something house prices has done since the 1980’s (maybe longer but I don’t have the data to support any further back). So with GDP predicted to grow throughout 2024 and beyond it is understandable that many experts are suggesting house price growth is very likely this year and beyond, with many reports I have read suggesting we can expect 20% growth over the next five years. It is harder to know what will happen in the short term, as I mentioned above there is still a looming possibility interest rates will be increased, however most still believe we will end the year with a base rate closer to 4.5%. It is also likely that many potential home movers who postponed their move last year will take advantage of the slightly improved 2024 market and we expect overall transaction levels to be up this year. Government Intervention As I mentioned at the start of this report, it is widely anticipated that the Government will want to stimulate a positive feel to the economy and this is very likely to be targeted towards home owners and the housing market. The Spring budget is only around the corner and we would not be surprised to see reports of some significant changes after the 6th March, including: Cuts to income tax (and/or National Insurance) Increased income tax thresholds Reforms to inheritance tax Help for home buyers, longer terms mortgages and the resurrection of the Help to Buy scheme Changes to the Lifetime ISA threshold All of which is likely to stimulate more activity in the housing market and a positive shift in buyer demand will almost certainly fuel increases in average house prices again in 2024. So if you have been thinking about selling, what does all this mean for you? Act now! The market has shown signs of resilience and there is an increase in buyer activity that is likely to continue throughout Q1 and Q2, but with a general election looming we expect the usual softening of the market in Summer will continue throughout Autumn right up until after the election. Therefore in a year where we expect an increase in transaction levels this is likely to mean a very busy first half of the year and if you want to get the best price for you home, now is the time to act! If you are already trying to sell and have not had a positive start to 2024 then maybe it is time to consider a change of approach. I would always recommend reviewing your marketing and the service you are receiving from your agents. Are your photos reflecting the improving weather and showing some of the Spring flowers or are they still looking wintery? Has your agent discussed strategies to make sure you make the most of the improving market and have they
9 Staging Secrets to Get Your Home Sold
Staging your house for sale can make a huge difference to the offer you receive and the length of time it sits on the market. In fact the latest statistics suggest a staged home will sell on average 25% quicker than one that hasn’t been. So, here are 9 staging secrets to get your home sold: Declutter Your Spaces: When you say declutter to someone the first thing that springs to mind is clearing out wardrobes or kitchen cupboards. But have you ever thought of decluttering your furniture? A professional stager actually removes half a homeowner’s furniture to make a house look bigger. So have a look around and see what you can throw out, pack away or pop into storage for a few months. Group Your Furniture: A common staging misconception is that pushing your furniture up against a wall instantly makes the room look bigger. However, the truth is, to make your room look bigger and more inviting then it’s best to float your furniture in each room away from the walls. Just remember to make sure that your furnishings are placed where traffic can still flow through the room. Transform Spare Rooms: Get rid of that spare room that has only ever collected boxes or other junk and turn it into something functional. Make it into an extra bedroom, a home office or reading room. Buyers want to see themselves living in the property and this helps them to do that. Great Lighting: Great lighting is a must when you’re staging your home for sale. You can flood a room with natural light if you put mirrors on the walls opposite light sources. Also, make sure you include table lamps and floor lights in your rooms as that creates ambient lighting. Never use the light in the middle of your room as your main source of light as it won’t show your room off to its best. Go Neutral: If you’ve a bright pink room or have invested in wallpaper that has a unique pattern then a fresh lick of paint can go a long way. Off-white, creams and neutral soft greys can transform your home into a modern fresh canvas for a potential buyer. If you do want to be a bit bold then please make sure it’s only on a feature wall. Use Your Garden: Fancy flowers and floral arrangements can be pricey but you can get the same effect with a simple bunch of flowers from the supermarket or by picking some flowers from your garden. Just keep the arrangement simple and throw in a little bit of colour. Flowers can instantly bright up a room. Quick Kitchen Facelift: Give your kitchen an instant facelift by painting cabinet doors or drawers or by vinyl wrapping them. It’s a cost effective solution and the results can be incredible. Also, tackle your bathroom by freshening up the grouting or sealant for quick results. Finish Those Repairs: Unfinished home repairs can really put off potential home buyers. If you need to touch up the paintwork on a chipped banister or replace a wonky door handle then please do it. Don’t give a buyer ammunition to negotiate a lower price for your home. So finish those repairs you’ve been meaning to do for years and you’ll reap the rewards. Clean Your Home: We’ve saved the best for last because this is the most important tip- clean your house from top to bottom. A dirty house is a massive turn off for potential buyers. Make sure your home is spotless, scrub the kitchen and bathrooms and eliminate any odours- especially if you’ve pets or smoke. If you can afford it then get professional cleaners to come in and blitz the place, as buyers want a nice, fresh welcoming home they can see themselves building a life in. So, there we have it, just a few simple, affordable tips that can make a huge difference to the sale of your house. If you have been trying to sell your home, or if you are considering putting your home up for sale then please feel free to contact us to arrange a consultation to discover how our strategies and processes can help you get the result you want, and if staging your home is a little out of your comfort zone don’t worry as we can take care of that for you as part of our standard service. You can book an appointment direct to our diary here