Top tips to find your perfect home this spring

Spring is a time for change, growth, and new beginnings. As flowers spring to life and wildlife returns from hibernation, the brighter evenings are invigorating enough to set any hatched plans into motion. If you’ve thought about finding your perfect home this season, here are some top tips to help you on your way.

Research locations
Few people move simply for a change of scenery, and your next location should be able to accommodate or enhance your current lifestyle. Finding your ideal home may be a difficult task without checking school ratings and crime statistics, and taking the time to drive around the area at different times of day. The internet is a powerful tool, but there is no substitute for first-hand experience, so take any opportunity to meet potential neighbours, try out local business and spend some time in your area of interest before coming to any decisions.

Keep up with market trends
Depending on your desired location, it can be beneficial to look into which seasons are reliably advantageous for buying and selling. Spring is known for being a period in which the market starts to heat up again as buyers hope to move in time for summer. If you’re unsure about the current market climate, you can take a look at recently sold listings in your current home’s location to get a grasp on the average house value at that time. If homes are selling fast and for good prices, it may be that you need to act swiftly and get your home on the market.

Stay search-savvy
In springtime, homes tend to pop up on the market like daffodils, and they can get snatched up just as soon. Searching for your dream home means keeping an eye on the market for new properties and being ready to make an offer immediately when a listing ticks all the boxes. When market activity is bustling, good properties tend to be gone in a flash, so as a buyer, you may need to be prepared to make an offer within hours of finding and viewing a great home.

List must-haves vs. wants
When it comes to finding the right home for you and your family, you will need to establish a good balance of knowing exactly what you want but also remaining flexible. It’s important to write a list of features that you need and what can be compromised so that you can compare and finalise a solid plan. For example, a ‘want’ may be a fourth bedroom, whereas a ‘need’ might be a shorter commute. Every home is different, and each will come with a list of pros and cons which will need to be considered – especially if you’re working within a budget.

Weigh up what’s affordable
Your finances will play a big (if not, the biggest) part in finding your new home, so it’s important to take care of this aspect as soon as possible. Before having a look at any potential properties, it’s important to know your current home’s value so that you can have an idea about the size of your deposit, which will be a key consideration as the higher the deposit sum, the more attractive mortgage offers you will have access to.

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Today marked a historic moment as King Charles III delivered his first speech, outlining the government’s priorities for the upcoming year. Among the key announcements were significant reforms impacting the rental and property sectors. Let’s delve into the three major takeaways that should be on every letting agent and landlord’s radar.

 Renters (Reform) Bill: A Balancing Act

The speech reiterated the government’s commitment to the Renters (Reform) Bill, signalling a renewed focus on the rights of tenants and the concerns of landlords. A notable highlight is the pledge to abolish Section 21, commonly known as “no-fault evictions,” a commitment that has been in the spotlight since the Queen’s Speech in 2019.

However, the timeline for implementation remains uncertain. The King’s Speech provided no further clarity on the criteria and deadlines for the significant court process reforms required before Section 21 can be abolished. Letting agents and landlords should stay vigilant for updates, as these changes will reshape the dynamics of the rental market.

Leasehold Bill: A Path to Fairness

King Charles III emphasised the government’s dedication to making homeownership more accessible by introducing a Leasehold Bill. The proposed reforms aim to streamline the process of buying the leasehold of a property and alleviate the burden of “punitive” service charges.

Estate agents need to monitor the legislative landscape, anticipating reforms such as simplified procedures for leaseholders to purchase the freehold or extend their leasehold. The introduction of a cap on ground rent at 0.1% of the freehold value could transform the leasehold market, while changes to ownership requirements may lead to a future where all houses are sold as freehold.

Net Zero and Energy Efficiency: A Green Commitment

The government’s unwavering commitment to achieving Net Zero emissions by 2025 is a pledge with broad implications, including significant changes in the property sector. King Charles III expressed the government’s desire to “safeguard energy independence” and invest in renewable energy sources.

For landlords and homeowners, the initial requirement to upgrade properties to an EPC C rating by 2025 on new tenancies, and 2028 for all tenancies, faced a revision in September 2023. Prime Minister Rishi Sunak announced the relaxation of these targets, relieving landlords and homeowners from the original deadlines. However, the commitment to energy efficiency and the transition to renewable sources remains a focal point in the government’s agenda.

As we navigate through this new era under King Charles III, the landscape of the property market is set to undergo significant transformations. Letting agents and landlords must stay informed and adapt to these changes to ensure a smooth transition into a more tenant-friendly, fair, and sustainable future.

 

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