Should you decorate before you put your house on the market?

Opening the doors to strangers to come and judge your property. Scrutinising every inch of the property and deciding if they like it is a nerve-racking experience. We can feel defensive if someone doesn’t like our house, and it is vulnerable to let people come and look at our property, which is usually such a private space.

When selling a property, viewers will look at everything with a very critical eye. And as a nation of house-loving homeowners, it is understandable that many of us want to get our homes ship-shaped before launching them to the market.

But how far should you go? Should you fully redecorate your house? Fit a new kitchen? Landscape the gardens? Or is the best thing to do nothing more than a deep clean?

It is possible to get bogged down with the preparation that it becomes a form of procrastination, and sometimes you can end up with a snagging list as long as your arm, and you never launch the property to the market. The longer this process takes, the further you are from your new dream home, and your perfect buyer might be missed.

So what should you do instead?

Make a list – rather than randomly doing all those jobs you’ve been putting off, make a list. This way, you can tackle the jobs methodically and group similar tasks together to save time and possibly money.

Decide what to do – Look objectively at the list and decide what needs to be done and what is not necessary. There are often tasks that you want to do to the property, but they will not help you sell your home or, indeed, might not make any difference to a potential buyer.

Check with your estate agent – show your list to your agent and get advice from them about tasks necessary to make your home saleable and attractive to a buyer. After all, our team knows what a buyer is looking for and what they will absolutely not care about, so you can cross off any of those tasks that won’t make any difference and get the ball rolling with your launch to the market.

There needs to be a line drawn as, unless your property is all brand new, you could invest lots of money and time refurbishing the whole house, and you won’t benefit from it because you will have moved.

It is highly likely that the huge list of jobs you have made for yourself, overwhelming yourself in the process, might end up being only a few small items. And then, without delay, you can attend to these things and get your home on the market for sale, putting the wheels in motion for your sale and moving to your new dream home.

For more advice on preparing your home for sale, speak to our team of experts with absolutely no obligation.

www.lawlerandcompany.co.uk

 

Is now the right time to sell your property portfolio?

Alan Cooper MARLA Hazel Grove Branch Manager talks about whether now is the right time to sell property portfolios.

We have been approached recently by a number of landlords enquiring about whether now is the right time to sell their portfolio of properties and whether there is a demand for properties with sitting tenants.

We have therefore looked at this and tried to give a balanced view.

Alan Cooper MARLA Hazel Grove Branch Manager
Alan Cooper MARLA Hazel Grove Branch Manager

Having dealt with rental properties for many years, we understand the pressures that landlords have been under in recent years. Legislation has been on the increase:

* The removal of tenants paying referencing fees;

* Mandatory EPC’s having to have a minimum of an ‘E’ rating;

* EICR Electrical reports now mandatory every 5 years;

* Installation of smoke and CO alarms;

* Changes to the “Right To Rent” legislation due to Brexit;

* Changes to Capital Gains Tax;

* Changes to “second home” stamp duty and

* Changes to the Digital Tax Regulations (MTD).

Whilst the EPC, EICR, and smoke/CO alarm changes (in conjunction with the Gas Safety Record) have certainly helped to ensure that rental properties are in a better, more efficient and safer condition, there is always an expense to be paid which (quite rightly), falls on the landlord.

The rental market through this period has remained strong and some of that expenditure has been absorbed due to the increase in rent.

However, there is more legislation being proposed and the “Renters Reform Bill” is due to be heard in parliament through 2022. If these do get passed it would be heralded as the most dramatic changes to tenant/landlord legislation since the the Landlord & Tenant Act in 1985. Some of the changes that are being proposed are:

* The scrapping of “no fault evictions” – in essence the scrapping of The Section 21 Notice and changes to the Section 8 notice with the process moving through the courts.

* Lifetime Deposits meaning tenants can move their deposit from one property to the next

* Rogue Landlords Database which can be accessed by tenants and agents

* Increasing the minimum EPC rating to “C” from the current “E”

* An amendment to the Dogs & Domestic Animals Accommodation Protection Bill which relates to tenants having pets at the property

These are due to be heard in Parliament this year but, at the time of writing, no date has been set.

Whilst the legislation has been changing, so have the rental figures that are being achieved and whilst the legislation can be seen as a “con” there are also “pro’s” to balance this out.

* You have a property that will continue to increase in value and can be sold

* You get a regular income on a monthly basis

So, is now the right time to sell your property portfolio?

House prices have never been higher and the demand for properties does not seem to be diminishing. We expect mortgage interest rates to continue to rise through this year and the phasing out of Mortgage Insurance and Tax Relief will continue to put additional pressure on landlords.

As a result, Lawler and Company have now established a section of our business to specifically cater for this section of the market. We can offer advice on whether to sell with a sitting tenant or whether to sell as an empty property; What sort of impact this has on the type of buyer that you are aiming the property at and how that impacts on the price that will be achieved; Whether to sell your portfolio as individual properties or to sell them as one portfolio; What method of sale will best suit your needs and we are able to offer special rates for landlords selling more than property.

Should you sell your rental portfolio? Our teams at Lawler & Co. are on call to help with this and any other queries you may have.

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel:
 0161 914 7620
marple@lawlerandcompany.co.uk

 

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

 

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk

The end of the Stamp Duty holiday..what happens now?

The stamp duty holiday in England and Northern Ireland came to an end on 30th September 2021. Hundreds of thousands of house buyers have taken advantage of savings that have been on offer since the tax break was introduced in July 2020.

Since July 2021, the amount buyers have been able to save reduced. But homes priced at or below £250,000 buyers did not have to pay stamp duty.

And now it changes again. Are you aware of the new changes?

What are the stamp duty rates from 1st October?

From 1st October 2021, if you are buying a main home in England, you won’t need to pay any stamp duty on the portion of the property priced at or below £125,000.

If you’re buying a main home from 1st October 2021, you won’t pay any stamp duty on the portion of the property priced at or below £125,000. The next £125,000 to £250,000 you will pay 2% tax. Anything you spend between £250,001 and £925,000 will incur 5% tax, rising to 10% for properties priced between £925,001 to £1.5 million. If you spend above £1.5 million, you will pay 12 per cent in stamp duty tax, as below:

Stamp Duty Land Tax rates from 1st October 2021SDLT rate
Up to £125,000Zero
The next £125,000 (the portion from £125,001 to £250,000)2%
The next £675,000 (the portion from £250,001 to £925,000)5%
The next £575,000 (the portion from £925,001 to £1.5 million)10%
The remaining amount (the portion above £1.5 million)12%

If you’re buying a property, you can work out how much you’ll pay by using the Rightmove stamp duty calculator

Tax rates are higher for those buying a second home.

Will first-time buyers pay stamp duty tax?

Great news! First time buyers in England and Northern Ireland won’t pay any tax on homes priced at or below £300,000. 5% on a property priced between £300,001 and £500,000. However if your first home is priced above £500,000 you won’t be eligible for a saving.

Still not sure on how much stamp duty you will have to pay? Our teams at Lawler & Co. are on call to help with this and any other queries you may have.

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel:
0161 914 7620
marple@lawlerandcompany.co.uk

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk

 

Local or Online Estate Agent? Who do you choose?

Reasons why you should use a local agent to sell property

Ready to put your home on the market but choosing the right estate agent is getting too overwhelming. What about an online agent? Should you pay for an upfront fee?Or do you approach a high street agent with an established physical presence in their local community, years of experience and unparalleled sales knowledge?

We’ve put together some reasons why Lawler and Co think a local high street estate agent is best, and in many cases provides better value for money than other offerings.

Getting the best Price!

Ever heard the saying you get what you pay for? Well, when it comes to estate agents, the same principle applies. In fact, plumping for the cheapest upfront option might be a false economy because it may cost you money in the long run.

Why? With the right tools and unrivalled street-by-street knowledge of an area, nothing beats an established local agent. We don’t just sit back and let the sale take care of itself because we’ve already been paid, as is sometimes the case with DIY or very low-cost agents. We use our expertise and in depth local knowledge to achieve the highest possible sales amount for your property.

We have an up-to-date database of local buyers who are looking for specifics such as proximity to the local schools, transport links and leisure facilities. When a well-matched property is on our books, we’ll proactively approach people who we think would be interested in viewing it. Having access to this sort of local data can make all the difference when it comes to selling a property for the right price. Some one popping into one of our offices and having a chat can also offer this opportunity!

Viewings are a must!

Viewings are one of the most crucial aspects of selling a property and while some people are comfortable in showing would-be buyers around their home, others have neither the time nor the inclination. True, some online estate agents do offer accompanied viewings but you’ll typically have to pay extra for the privilege. With all things currently restricted due to Covid19, we are now happy to provide 360 virtual tours of properties.

Check that your online agent is prepared to negotiate on your behalf: many don’t and will leave it up to you. You’ll have to decide if you’re absolutely comfortable in squeezing your buyer for the asking price you want or handling any last-minute paperwork problems.

Think Local

Choosing to market your property through a local estate agent opens up a network of trusted community contacts and services – from builders and tradespeople to conveyancers and independent mortgage advisers, all of whom will be happy to meet you face-to-face. It also means you won’t have to hand over one of the most important decisions of your life to someone on the other side of a computer.

Those hidden extras

Upfront fees may seem tempting at first glance but check very carefully to see if there aren’t any hidden extras, all of which can soon mount up. Some agents charging extra for photography, ‘for sale’ boards and, as mentioned previously, viewings.

An unbeatable combination

It’s said that not having a physical shop front and operating purely online is the future of estate agency. With over 20 years of experience in selling homes in Hazel Grove, Marple, Poynton and surrounding areas we know that having an accessible office that’s bright, welcoming and modern attracts footfall. We’re happy to be a focal point in our local community and having a physical location where people can drop by, chat to the team and find out what’s new on our books is incredibly important.

That doesn’t mean that we neglect our online presence, however. We advertise on many online platforms and like to also use Facebook, Instagram and Twitter. The difference is that, unlike a purely online estate agent, we don’t solely rely on these property portals to achieve sales. We like to think we offer the best of all worlds.

Our local knowledge together with our professional, dedicated sales team and marketing expertise means that our clients can feel confident and assured, you have chosen the correct estate agent to give you detailed accurate market advise on preparing your property for sale or rent for the best price

If you would like to speak to a member of our team and find out what your home is worth, please contact one of the offices below

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel: 0161 914 7620
marple@lawlerandcompany.co.uk

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk

allAgents Awards 2019 – Lawler and Co. win again!

Lawler and Co. win allAgents Awards 2019 in the Stockport area! Going above and beyond for their customers!

After the team being recognised in the allAgents Awards 2019 for their great customer service, we thought we would tell you all just how much we LOVE selling houses, and WHY!?

At Lawler & Co, we LOVE our jobs, we really do. We love to sell houses, we love to make our vendors happy and we love to find our buyers their dream homes.

We genuinely listen to our customers to understand their needs, whether they are selling or buying.

Looking after each sale and purchase personally, communication is key – you need to feel that you are in safe hands, and we want you to be happy!

Accompanying all viewings is standard, because we know sales. We know that potential buyers feel more comfortable asking questions with an agent, rather than a home owner. We know it works.

Taking absolute pride in marketing your property in the best possible way, with fantastic photographs and prominent branches throughout Stockport.

Our teams are all experienced and with a wealth of local knowledge can advise on anything from what day the bin collection is to what are the best local schools.

As a bespoke independent estate agency with prominent branches in Hazel Grove, Marple and Poynton we don’t believe in call centres to answer your calls. We want to offer the best personal experience from beginning to end.

Above all, we all thrive on doing a good job. When we see happy customers, we know we have done our job properly!

www.lawlerandcompany.co.uk

How much is your property worth? Is the price right?

How do you know what the right price is to put your house on the market for? Is the valuation correct? The ups and downs of the property market over the past decade makes assessing a suitable asking price a bit more difficult. It involves not only the state of the market, but also factors including the property’s condition, the level of demand, and – of course – location.

Some vendors want to try their luck at getting the highest price but overvaluing a property is the most common mistake to make and can cost a vendor dear, sitting on the market for longer than necessary and comparable homes looking to appear to be bargains when they are just priced correctly. Overpricing your property may not sell yours but may sell your neighbours!

There are ways to make sure your home goes on sale at just the right price. Here are some tips to help:

Sales prices in the area
Study the sales prices in your street and its immediate surroundings, concentrating on the last six months. The information is freely available on property websites and will give you a reasonably up to date idea of the state of the local market. Rather than look at the asking prices concentrate on the actual selling price.

Price differentials – Be aware
No two houses are the same so don’t assume you will get as much for your home as your neighbours got for theirs only last month. It is perfectly feasible for homes that sit side by side to be worth significantly different amounts.

Location Location Location
Homes close to excellent schools or transport links will sell at a premium, If they are also in good condition, with a high specification – eg with sash windows and/or engineered wood floors – they might also top local ceiling prices.

Square Footage rather than number of rooms
Estate agents base their valuations on the square footage of a property rather than the number of rooms. If your one-bedroom apartment is larger than average, buyers will pay more for it. On the downside, if it is a bit poky, a bit run down, or suffers from a blight such as being on a busy road or near the railway tracks, you’re going to have to trim your expectations.

Invest in your property
If you’ve invested in your property you can expect to get some of your money back, especially if you have added floor space. It goes without saying that a property that has enlarged or had several home improvements will achieve more than a basic like for like nieghbouring property. However be mindful that not all improvements equal an increase in price. Improvements that are too tailored to your likes could people off the increase in price.

Shop around for your Valuation.
Get valuations from at least three agents. Ask them to provide examples of what similar properties have sold for – they will have even more up to date information than the online portals.

Highest Valuation isn’t always best!
Don’t necessarily go with the highest valuation you receive. If a valuation seems too good to be true, it probably is. The first six to eight weeks are the optimum selling time.

If you are considering a move please call into one of our friendly offices or telephone your local branch and we can arrange for one of our valuers to visit your home and provide a free no obligation valuation. Click here for more information.

Letting Agent Fees to Tenants

The date for when letting agent fees to tenants are to be banned, is yet to be announced.

Since the Chancellor of the Exchequer, Phillip Hammond’s, announcement in the Autumn Budget that fees to tenants are to be abolished, there have been mixed responses. For tenants and lobby groups including Generation Rent and the charity Shelter, the announcement has been celebrated. For lettings agents and industry bodies such as ARLA, the response has been less than enthusiastic. Even amongst landlords the response has caused mixed reactions.

David Cox, Chief Executive of ARLA Propertymark has called the Governments Housing Policy “shambolic” and said that by banning fees to tenants, something even David Cameron’s Government refrained from doing, overall costs to tenants will increase. Mr. Cox said “independent analysis launched by ARLA Propertymark’s annual Conference last week revealed that if an outright ban was introduced, rents will increase by £103 per year”. This is due to the knock on effect of agents charging landlords higher fees to compensate for their losses and landlords in-turn increasing their rents.

However, the rationale on banning these fees is stated in paragraph 47 of the Consultation Paper which was published on the 7th April 2017. This states that “Whilst most lettings and management agents provide a reputable service, a minority of agents offer a poor service and engage in unacceptable practices” and continues to declare Shelters 2013 report, which reported nearly 1 in 4 tenants in England and Wales felt that they had been charged unfair tenant fees, as a contributing factor.

The ban on letting agent fees to tenants is currently in a public consultation, launched by the Department for Communities and Local Government (DCLG), which ends on the 2nd June 2017. After this date, further announcements for how and when the ban will be implemented will follow.

Article by Eleanor Finch, Lettings Manager