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Are you wanting another bathroom or a larger garden? Have you got empty space you’re wanting to escape from? When choosing your next dream home, you can be faced with all sorts of questions, and we want to ensure you are taking a step in the right direction. Both upsizing and downsizing have their own unique set of advantages, and these options cater to different needs and lifestyles.
Everyone will experience upsizing and downsizing throughout their lifetime in the property market, so, let’s discover what’s right for your next property move.
Benefits of upsizing
Is Upsizing the Right Move?
Upsizing is one of the most attractive parts of moving houses, as you really feel like you’re finally moving up the property ladder. There are clear advantages when it comes to upsizing, but is it right for you?
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It’s come to the end of your current tenancy agreement, and your tenants are ready to move on, but are you? We’re here to supply you with a simplified checklist on how to get ready to place your property back on the rental market.
Agreed-upon end date
If you have tenants that have decided to leave or whose contract has ended for your rental property, then you need to ensure you have both confirmed an end date. This is extremely important to ensure that all parties involved are aware of this agreed-upon end date. This should be provided in writing. Having this date in the diary will also allow you to plan so you have a smaller gap between tenants.
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Conducting viewings is no easy task, and this is partially because buyers often arrive with a long list of questions and queries. If you are curious about what you may be asked during viewings, here are some of the most common tricky questions:
How old is the roof?
A prudent buyer may ask how old the roof is. Replacing a roof is an expense that most prospective buyers will want to avoid for at least a few years. Depending on the materials, the typical lifespan of a roof is 15-20 years, so it’s important to be aware of how long it’s been standing before selling.
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Being a first-time buyer can be difficult, but thankfully there are several schemes available to help you navigate the market and get on the property ladder. These schemes offer different help and solutions, so it is important to choose the best one for you.
First Homes scheme
This scheme offers first-time buyers discounts of 30% to 50% on new-build homes. Certain councils may give priority to providing First Homes discounts to low-income individuals, local residents of the area, or key workers, so it is important to check whether or not you are eligible.
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“We have never made so many appointments for people looking at mortgages as we have in the last three weeks . . . and we have started to see an influx of properties coming to market.” Richard Kendall Estate Agent. Picture – supplied
While new predictions suggest that the Bank of England may start cutting interest rates in Q2 as inflation eases, Wakefield’s Richard Kendall Estate Agent is seeing signs of renewed optimism in the market since the beginning of the new year.
