The credit crunch has had a big impact on the property markets and has created both challenges and opportunities. One of the biggest frustrations which it has resulted in has been the lack of mortgage availability for even buyers with a relatively good financial record.
Property expert Nicholas Leeming gives his advice:
Continue reading "Q&A: How to manage your property finances after the credit crunch" »
Deciding on what and how to bid for a property is one of the most challenging parts of the house buying process. There is no set formula and this is a straightforward commercial negotiation, made all the more difficult because the individuals involved may have widely differing standards and business experience.
Property expert Nick Lemming gives his advice..
Continue reading "How should you make an offer for a property?" »
Most agents set a guide price slightly above of the figure that they expect to achieve for a property, but the precise level which a vendor will accept depends on a number of matters, the most important of which will be the number of competing bidders and the overall market conditions.
Continue reading "Q&A: How can you negotiate with vendors?" »
Continue reading "Q&A: I've found the perfect home, what’s the next step?" »
I am currently doing work to my house before I put it on the market – should I carpet it or have wooden floors?
This month's property advice comes from Ian F Balfour from Coombe Residential, Wimbledon:
My next door neighbour’s garden is completely overgrown. Shrubs and plants have fully fledged onto my side of the boundary and are blocking the light to my garden. Can I cut them?
Andrew Smith of Child and Child in Belgravia, London provided the following advice:
Continue reading "Q & A: Cutting down on overgrown gardens" »
I want to create extra space in my home by digging down and building below the ground floor/cellar area. However, I’m unsure of the legal and planning issues – can you help?
This week, Andrew Smith from Child and Child in Belgravia, London provided the following advice:
Which improvements best add value to a property?
This week, Garry Collins from Hamptons International in Weybridge answers this very important question:
Continue reading "Q & A: Home improvements that add value" »
Am I better off continuing to rent or risk going for a 100% mortgage?
This week's expert, Sophie Curtis from Savills in London suggests:
Continue reading "Q&A: Chosing between renting and buying" »
My son is going to university - is it a good investment to buy a house and rent it to him and fellow students?
This week's property expert, Ian Balfour, from Coombe Residential in London says:
Continue reading "Q&A: A buy-to-let home for your child's degree" »
What is the best way to help my children get onto the property ladder?
This week's expert, Jonathon Hudson from Hudson Property in London suggests:
Continue reading "Q&A: Getting children on the property ladder" »
What special features in a house do you think attract a premium ?This week's expert, Ray Smith, from Currell in Islington suggests:
The 'special features' that attract a premium will vary dramatically from property to property, depending on the target market. Character is the main feature that will make a property stand out, whether it be a top end apartment or family home...
I have a small garden, which, although not in a complete mess is a bit unruly. Should I get a landscape gardener in before going on the market?
This week's expert, Wendy Peterman, from Petermans in Herne Hill suggests:
There are a number of things you can do yourself before putting your home on the market - and you can try these before hiring a landscape gardener as you may find they suffice...
Continue reading "Q&A: Does Your Garden Need a Professional Touch?" »
Whats the best way to negotiate the lowest selling price from a vendor and is it ever an option to contact the vendor directly?
Nick Leeming, our property guru suggests:
This is a wide ranging subject and much will depend on the relationship that the vendor has with his agents...
As a buyer, do you need to carry out a building survey and /orhome buyer survey and valuation for a ground floor flat of which the Local Authority is the freeholder? Please advise.
Nick Leeming, our property guru suggests:
This depends on the wording of their responsibilities as freeholder and whether you trust them to comply with them! It would be brave to move into any building that is likely to suffer from major structural problems such as roof, walls or foundations as any problems in these areasr may cause you inconvenience, particularly when remedial work is being carried out. You might sleep better if you have had a survey carried out while your Building Society may insist on it.
I'd like to put an offer in on a great property, however it is situated in a conservation area. What are the implications I should consider?
Alex Woodleigh Smith, from Savills suggests:
I am thinking of putting my house on the market and a friend commented that perhaps redecorating in more neutral tines - I currently have strong colours - would be advisable. Is this true?
This week's property expert, Wendy Peterman, from Petermans in Herne Hill suggests:
Continue reading "Q&A: Interior decorating - neutral or colourful" »
I'm going abroad for a couple of years and want to rent out my three bedroom flat. Should I rent it furnished or unfurnished?
David Cohen from Richard James and Co suggests:
With the prospect of rising intrest rates, whay type of mortgage is going to prove the most economical?
Alasdair Mackenzie from Cluttons says:
The outlook for the property market for the coming year is much harder to call this year than last.
Our expectations of a strong 2006 came true in spades, although commodity prices pushed interest rates higher than we expected. These higher rates are now clouding the waters for 2007. Confidence in the housing market overall is strong, although outside London and the South East, beyond the reach of City cash, optimism is more subdued.
Continue reading "Q&A: do you think house prices are going to rise next year?" »
I've moved into drafty Victorian house and want to fit double glazing. Will PVC windows impact on the value of my property?
Mattew Fine from Bairstow Eves in Marlebone suggests:
PVC windows should not affect the value of your home. They have come on a long way since the Seventies and the new double glazed sash cord windows look great. With the advent of Energy Certificates being issued on all properties being sold from next year and the energy savings from PVC, double glazing and secondary glazing windows I can only surmise that this will only affect the value of your property in one way, upwards.
Do you have a question for our estate agents and property experts? Please let us know below, or read our previous Q&As.
I rent out rooms in my house, and I am thinking of converting the large living room into two separate rooms so that I get an extra bedroom to rent out. Will this gain or lose value in the property?
Sarah Shelley, Partner at Knight Frank in Wapping suggests:
Try and ensure that you have a reasonable sized reception room after you have done the division and that any partition is easily removable and does not damage the walls, coving etc as I suspect that you have a handome living room at present which is important to the value of the house.
You might also find it useful to look at propertyfinder.com's Price of a bedroom survey, which discusses the value an extra bedroom can add to your property.
Do you have a question for our estate agents and property experts? Please let us know below, or read our previous Q&As.
I have a very large garden, half of which I have fenced off as I don't use it. It has rear access and I would welcome advice on how I go about selling off that part of the garden. I believe it will be more 'sellable' if I can sell it with planning permission.
Nick Leeming suggests:
In general it is right to explore any planning opportunities as a change of use consent may substantially increase the value of your property. The likely outcome to any planning application will be wholly dependent on the site's uitability, location and the detail of the local development plan. The best person to advise on this will be a local planning consultant who understands the issues in the area and who knows the planning authority, although you will also have to take advice on the value that such a consent may result in so as to judge the likely net benefit to you after all costs are deducted. Be aware that this process can take some time to come to fruition!
Do you have a question for our estate agents and property experts? Please let us know below, or read our previous Q&As.
This week's question is from C. Rodriguez:
I am currently in the middle of selling my house. When I first invited estate agents to value the property I was given three different valuations from three different estate agents - £375,000, £385,000 and £395,000. I
was insistent that we could get more for the house and put it on for £430,000, and we have since secured a purchase price (subject to contract) of £423,000. Here are my questions:
1) Should I ask for a discount from the estate agent?
2) Do you think the estate agents I contacted where only interested in turning over the property quickly?
3) If not, why would three estate agents by so wrong, lets face it the market has been relatively fast moving for a while now?
Nick Leeming, Propertyfinder.com's property expert (and chartered surveyor/former estate agent) suggests:
Continue reading "Q&A: Why do property valuations differ so much between agents?" »
This week's question is from P. Spungin: 
I have seen a property that I would like to buy. Several other people are interested as well and there have three offers at the asking price and more are expected. The estate agent says it will be decided by sealed bid. Do your experts have any advice on how to play this? What percentage over the asking price is usual? Is it possible to put in a bid that says £10 over the highest bid rceived?
I am an unencumbered buyer with nothing to sell, a 30% deposit and mortgage arranged. Does this count for anything in the case of sealed bids?
Thanks to everyone who has sent in questions for our estate agents to answer. Here is the first in a series of helpful advice from our panel of Propertyfinder agents.
I own my own property already but would like to get into the buy to let market. However, friends have advised me that the buy to let industry is totally saturated and I am unlikely to make money from investing. I am still keen to pursue this. What should I do?
Louise (London)
Converted churches topped the list of homebuyers’ favourite building conversions in a poll we conducted on the site.
But what should you consider when investing in a church conversion? Nick Leeming, our property expert provides useful advice.
What should people look for when buying a converted property?
Much of this is a matter of personal taste as the properties vary so much, from conversions of big neo-gothic churches, usually in towns and usually separated into flats to small rural chapels, which make great detached homes. But given that buyers are obviously after something a bit special, be sure that the conversion has actually preserved the essence of the original space and maintained the unique ecclesiastical features. If the interior feels like any other home, the developer has missed the point.
