Have you ever watched a programme about property development and been tempted to give it a go? All those wonderful before and after shots make it look so easy. From our comfortable sofas we cockily criticise their design decisions, mock their progress and vocalise how we would do it differently. But how many of us really appreciate either the potential problems or the potentially life changing benefits of renovating a home either to live in ourselves or to rent out.

So what can you do to mitigate the risk of your dream home renovation becoming a nightmare?

Set a goal

What is your end goal with the property? Do you want to flip it, rent it out or create your forever home? You need to remember your goal when looking for a property. If it is to be your forever home then it should be in an area that you want to live in. Alternatively if it is to be a rental property then you need to make sure that it is in an area that is attractive to your target rental market.

Make a budget

Set yourself a budget for each room and try your best to stick to it. Don’t be swayed by expensive tiles or paint. If you are planning to rent out the property then your tenants are unlikely to care whether you use Dulux paint or Farrow and Ball paint. If you are doing the property up for your own family then you may be happy to splurge in certain areas but make sure that you always keep an eye on your budget. Just as in the television programmes you are likely to go over budget so make sure that you factor that in.

Plan

Frequently diverting from or changing your plan will cost you time and money so try to stick to it. The longer the renovations go on the more money you lose in potential rent. The longer you have to pay your mortgage or utility bills for the property, the more they eat into your profit if you are flipping it. If it is your forever home then you will be reducing the amount of time you get to live in it.

Have a valuation

When all of your hard work is finished, arrange a valuation so you can find out just how much all of your hard work has added to the value of your property and how much its rental value has also increased.

If you manage to complete all of those then congratulations you are a successful property developer and you will be able to reap the financial rewards of your endeavour.

If you are looking for a property to renovate please give us a call on 01772 252136 so that we  can add you to our  earlybird list so you can be one of the first people to hear about our new listings.

Buy-to-let property is often seen as an attractive way of accumulating wealth or as an alternative option to a pension. However, while purchasing buy-to-lets is undoubtedly a good investment, they are also a long-term commitment that require hard work and good financial planning. 

If you are unsure as to whether to take the plunge and buy your first buy-to-let property then it is definitely worth considering the pros and cons of being a landlord before you invest. 

PRO  – Rental Income

This is the biggest incentive for people who buy a buy-to-let property. The idea of receiving regular income that not only pays off the mortgage on their buy-to-let property but also gives them a little bit extra in their pocket each month is a very attractive one. 

CON – Rental Void

However, if your tenant misses a rental payment then you will be responsible for covering the mortgage payment yourself until they catch up and if you should have a period when your property is not let (a rental void) then you will be left covering all of the costs during that time too.

PRO – You’re your own boss

If you are fortunate enough to be making enough money from your rental properties to live on then you can have complete control over your income and your own time. The ability to work the hours you choose, make all the decisions and feel completely in control of their own life is what drives many landlords to build their property portfolio.

CON – Responsibilities

Being a landlord means you have both legal and moral responsibilities towards your tenants and no-one can choose or predict when urgent maintenance issues such as a leak may occur. For many people who are trying to hold down a full-time job alongside managing their buy-to-lets the responsibility is too much. An easier solution is to have your properties managed by a letting agent but this will of course cut into your profit. 

PRO – Allowable expenses

You are permitted to deduct expenses from your rental income when working out your taxable rental profit. These expenses must be ‘wholly and exclusively for the purposes of renting out the property’ and includes maintenance costs, utility bills, agency fees and insurance payments.

CON – Costs 

As soon as you start to make a profit from your buy-to-let property you are legally obliged to inform HMRC. You may be required to submit a tax return so that HMRC can calculate how much income tax you should pay. Buy-to-let property purchases are subject to higher stamp duty rates. Also when you sell a buy-to-let you must pay Capital Gains Tax on the amount that the property has increased in value during the time that you have owned it. Don’t forget to factor in costs such as the deposit, survey and conveyancing fees, renovation costs and the administrative costs for inventories, deposit protection, gas safety certificates and EPCs. 

Being a landlord certainly requires more time, effort and planning than most people think it does but for those willing to put in the work it can be a highly profitable endeavour. 

If you are considering becoming a landlord and would like to know more about how we  can help you to manage your property please do give us a call on 01772 252136 and we will be delighted to help you.

The leaves are falling, the clocks have gone back and children, still hyped-up on sugar from their Halloween trick or treating, are now looking forward to this weekend’s fireworks displays. November brings with it darker mornings and chillier nights and so comes thoughts of Christmas and the New Year. This inevitably focuses the minds of those who have been considering moving, as they consider whether their homes are too small or indeed too large for their needs. 

The looming New Year sparks thoughts of new beginnings and new homes so, despite the doom and gloom in the papers, life continues. People still move home and the property market continues to be busy.

Let’s have a brief look at what’s been happening over the last month in the local property market around Walton-Le-Dale.

There are currently 1152 properties available on the market in the area. The month prior there were 880, with 1052 in August and 1050 in July. Things have started to calm back down to normal levels and there is now more choice once again for buyers.

There is a steady number of properties coming onto the market each month. In July there were 314, August 288, September 333 and in October 286.

In October 207 sales were agreed. The month before 241 sales were agreed. In August 268 sales were agreed and in July 283 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity.

In July, we saw 138 price reductions across the Walton-Le-Dale property market. There were 131 price reductions in both August and September and 169 in October. This could imply that some sellers’ or agents’ expectations of what the market is prepared to pay are not in line with reality. 

In October there were 466 slow movers in the Walton-Le-Dale area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In September there were 438 slow movers and the month before there were 429 slow movers. In July there were 413. 

Slow movers can often be due to the 3 Ps – presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans.

In July each property in the Walton-Le-Dale area had average daily views on Rightmove per property of 85. In August, this number was 88. In September this number fell slightly to 82 and in October it dropped to 70. This is not unusual for this time of year with many families busy over half term and focused on Halloween activities and Bonfire night. The high levels of activity in the local Walton-Le-Dale property market are likely to increase or at the very least, remain strong in the final quarter of the year.

If you’re looking for further information about the Walton-Le-Dale property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01772 252136 or email info@stonehousehomes.co.uk.

One of the highlights of our  work is getting to meet all of our clients’ furry friends. Our pets give us unconditional love and companionship so naturally we all want to do everything we can to protect them from being scared and distressed.

Every year, Bonfire Night brings delight to adults and children alike all over the country as the loud whizzes, bangs and flashes of colour in the sky amaze and enthral. Our furry friends however are much less enamoured by the sight and sound of fireworks exploding in the sky. For those of us who have to witness our beloved pets in distress, it can be a less than enjoyable evening. 

There are a few things that you can do to help your pet to cope with the anxiety that fireworks can cause them. 

CATS Protection has issued the following advice:

Treats

A selection of their favourite long-lasting treats, given before the fireworks displays begin, can sometimes provide enough of a distraction to stop them from noticing the start of the noises. Even if they do not distract them for the whole of the display, any reduction in the time that they are distressed for is better than none.

Safe Place

Cats may feel reassured by having a cosy space in which they can curl up. If their bed has open sides then consider lining a cardboard box with towels and blankets for them to sleep in. Many cats feel safer when they are up high so placing this box on a shelf may increase their feeling of safety.

Music

Classic FM will be playing their pet classics, calming music specifically selected to try to help you and your pet stay relaxed, from 6pm to 10pm on Friday 5th November and Saturday 6th November. Turn it up, lay back and enjoy. 

Battersea Dogs Home has this advice to add:

Stay Calm

Our pets are very sensitive to our emotions. If they think that you are anxious then they will be anxious too. Stay calm and reassure them in your most relaxed tones so that they can pick up from your body language and voice cues that there is nothing for them to worry about.

No Evening Walks

Make sure that you are home from your evening walk before it goes dark so that your dog isn’t upset by any unexpectedly early fireworks. 

Draw your Curtains

Protect your pets from seeing the flashes from the fireworks by drawing your curtains. Having your curtains drawn can also help to muffle the sound from the fireworks. 

Let Them Roam

Confining a dog to one room when they are used to roaming your home can increase their distress. 

we  hope that these tips help you and your furry friends to have an enjoyable and distress-free Bonfire Night.

If you are considering selling your home in Walton-le-Dale then please give us a call on 01772 252136 and we  will be delighted to give you a free no-obligation valuation.

The first thing I always notice when I walk into a house is the amount of clutter there is. We are a nation of secret and sometimes not so secret hoarders. It’s rare for me to visit a home that is completely clutter free. If the surfaces are empty I can nearly always guarantee that there will be at least a couple of overstuffed cupboards. I understand, I like stuff too, but as an estate agent I know that clutter doesn’t sell. Yet even though we know that, even though we all revel in the minimalism of hotel rooms we fail to manage to declutter when we get back home as most of us cannot bear to part with our stuff.

However, there is something that may motivate you to do just that. What if I told you that the stuff that is at the back of your wardrobe, the stuff you haven’t seen let alone used for years could actually help you to pay your rising energy bills or contribute towards a well earmed break in the sunshine?

Plus we all know that second hand items are good for the environment as they reduce the amount of things that go to landfill. So decluttering can be good for your home, your wallet and the environment! So where do you begin?

Research

Gone are the days when eBay was your only option for selling your unwanted items. Now there are a whole range of sites, some of which specialise in certain items such as Vinted or Depop where you can sell clothes and accessories. Facebook marketplace can be a great way of selling items without having to pay any commission as can local sites like Nextdoor.

Be honest

If there is any damage to your item it is better to be upfront about it rather than have it returned to you.

Make sure the price is right

Be sensible when you are setting the price. Just like when you are selling a property if you set the price too high then there will be little interest and then your item will be further devalued when it sits unwanted on the selling site for ages. However, you also don’t want to set the price so low that it simply isn’t worth your time and effort to sell it. If you do think your item isn’t worth selling then try putting it on a site like Freecycle. You won’t benefit financially from selling it but you will be stopping it from going to landfill so there is a feel-good reward. To save yourself and the buyer time haggling if there is any damage then reflect this in the price.

Photographs

Taking lots of photographs will reduce the amount of time and the number of “no thanks” that you will get when selling an item as collection only. It will also increase your chances of selling your items online and reduce returns as people like to see clearly what they are purchasing. To increase your chances of a swift sale, just as when selling a property, good photographs are essential. Keep the background clutter free, make sure that the lighting is good and ensure that you take photographs from several angles.

If you are decluttering in order to sell your home and would like some advice or a free no-obligation valuation then please do give us  a call on 01772 252136

The children are all settled back at school and the changing weather leaves us in no doubt that Autumn is definitely here. September is always a month of new beginnings.  With Christmas just around the corner many people start to think about whether their home still works for their family. 

The rising interest rates may be causing pause for thought but life continues, despite the rising cost of living and people will always need to move home; sometimes because of, and sometimes in spite of, the financial climate.

Let’s have a brief look at what’s been happening over the last month in the local property market around Walton-Le-Dale.

There are currently 880 properties available on the market in the area. The month prior there were 1052, with 1050 in July, and 995 in June. Things have started to calm back down to normal levels and there is now more choice once again for buyers.

There is a steady number of properties coming onto the market each month. In June there were 305, July 314, August 288 and in September 333.

In September 241 sales were agreed. The month before 268 sales were agreed. In July, 283 sales were agreed and in June 260 sales were agreed. As more properties come to the market, more sales are happening. Although the media has been talking about the market cooling, the local facts are that there is still a lot of activity.

There were 111 price reductions in June and in July, we saw 138 price reductions across the Walton-Le-Dale property market. There were 131 price reductions in both August and September. This could imply that some sellers’ or agents’ expectations of what the market is prepared to pay are not in line with reality. 

In September there were 438 slow movers in the Walton-Le-Dale area. This means a property that has been on the market for 12 weeks or more. This could be due to the market returning to more normal levels but expectations still being at the peak levels. In August there were 429 slow movers and the month before there were 413. In June, there were 369. 

Slow movers can often be due to the 3 Ps – presentation, promotion, or price. We are proud to be in the top 10 agents in the area with the smallest numbers of slow movers. Choosing the right agent for your property can make a very real difference to achieving your moving plans.

In June each property in the Walton-Le-Dale area had average daily views on Rightmove per property of 101. In July it was 85. In August, this number was 88. In September this number fell slightly to 82. This shows the high levels of activity in the local Walton-Le-Dale property market, which are likely to increase or at the very least, remain strong in the final quarter of the year.

If you’re looking for further information about the Walton-Le-Dale property market, or if you’re thinking of selling or buying in the area, please don’t hesitate to get in touch. You can call 01772 252136 or email info@stonehousehomes.co.uk.

It is a big decision to decide to sell your home. It means moving your family from a home that they likely love to a new and unfamiliar one. Even if you only move locally you will still be moving away from your neighbours, familiar places and friends. Behind this life changing decision there is usually a compelling reason and even then studies have shown that it still takes on average two years from first thinking about selling to actually deciding to go ahead and put your property on the market.

🚛Relocating

People need to relocate for a variety of reasons. They may have been offered a better job in a different part of the country; they may need to move to a catchment area for a better/more suitable school for their children; they may need to move closer to elderly parents or they may need to move to reduce the length of their commute to work.

🚸Upsizing

As families grow they may simply outgrow the size of their home. They may have more children or if their children share a room they may decide that they need to have their own space as they get older.

🧓Downsizing

The opposite occurs as children start to leave home. Paying to heat and maintain a home larger than they need may spur empty nesters to move to a property that is a better size for their needs.

🌳Lifestyle

The most common lifestyle change is a move from the city to the countryside. It is most commonly associated with couples starting families and moving from a busy city to an area where their children can have a bigger garden to run around in and where the money from the sale of their compact city property can purchase them a much larger property. However, it is not only young families that make this move. Older couples at the end of their careers may choose to move away from the busyness of city life in order to have a more peaceful retirement and others may even choose to do the reverse, moving to the city once their children are grown and flown.

💸Equity Release

This can be done by selling and then buying a cheaper home. This is a big motivation for selling for downsizers who get the benefit of a more manageable home and a lump sum of cash to spend enjoying life. It can also be a motivator for people who love to renovate properties and then move onto the next project investing the equity they have released into their next property.

If you are considering moving please do give us a call on 01772 252136 and we will be happy to help you to decide on the best option for your family.