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Should You Renovate or Sell Your Home?

Unsurprisingly, most homeowners ask themselves this question at some point: “Should I renovate or sell my home?”.

The answer though depends on many factors including:

What renovations do you want to do?

How concerned are you about resale value?

Will the investment will be worth it.

Here are our top three questions you should ask yourself to help you decide whether to renovate your home or sell up.

  1. Are You Happy in Your Home?

It’s may appear obvious, but you need to understand why you’re asking yourself the question, “Should I renovate or sell?”.

Is it because you’re unhappy with your current property?

Or is it because you need extra space?

Or is it for some other reason, like turning a profit?

If you’re unhappy with your home, consider whether renovating your property will actually make you feel happier living in it.

While renovating your property can make a huge difference to how it looks and feels, it might be time to sell if the issues you have with your home extend further than it’s appearance.

  1. Do You Need Extra Space?

If you’re thinking about renovating to give yourself extra space, you may be considering extending or converting the loft into a bedroom. If so, it’s worth considering whether investing in an extension will be worth it in terms of added value.

It’s also good to think about how sustainable those changes will be. It may give you an extra bedroom, but if you’re planning on growing your family even further, will you still need to move in a few years anyway?

Sometimes, it can be more worthwhile, both financially and in terms of effort, to move to a larger property rather than extend.

To help you decide, it’s worth browsing properties for sale with your local estate agent to see what’s available and for what price.

  1. What Value Will Home Improvements Add?

Ask yourself, “Is it worth it?”.

Renovating a property can be costly and take time. While it’s important to enjoy your home and not always think about resale value, some home renovations, like extensions, kitchen remodels or bathroom refits, can be expensive.

Depending on the area you live in, you may not make your money back on the property. And if you’re planning on moving in a couple of years, you may not get the full enjoyment from the renovations yourself.

The best thing to do is speak to a local estate agent about your plans. They will complete a valuation of your property and advise you on home renovations that will potentially add value. You can also ask whether it may be more financially beneficial to move to a larger home rather than renovate.

We Can Offer Expert Advice

At Warren Powell-Richards, we are your local property experts. If you’re thinking about selling your home, our friendly team are happy to help.

Give us a call today or send us an email at This email address is being protected from spambots. You need JavaScript enabled to view it. to start the conversation.

 

Selling a House at Auction vs Estate Agent: What Are The Pros and Cons?

So, you need to sell your property and you’re wondering which is the right path for you. Auctions have their benefits, but so does selling via an estate agent, so which is better for your situation?

If you’re wondering whether you should sell your home via auction vs an estate agent, here’s an overview of the pros and cons to help you decide.

Selling at Auction

What Are the Cons of Selling at Auction?

Let’s get some of the negatives out of the way first. Selling at auction may be quick, but it does come with some risks and downsides, including:

Added fees: There could be added fees when selling at auction that can make it a more expensive option. You’ll need to instruct a solicitor to prepare a legal pack before you sell. Plus, you’ll need to pay the auctioneer’s marketing and commission fees.

Limited buying pool: Buying a property at auction isn’t the traditional route, so your buying pool is already limited. Plus, auctions have a reputation for ‘hard to sell’ or fixer-upper properties, which can attract low-paying buyers looking for a great deal.

It doesn’t sell first time: A good auctioneer should drum up interest from the right kind of buyers. If they don’t market your property well enough, your property may not sell first-time around.

What Are the Pros of Selling at Auction?

Despite the cons, there are lots of benefits to selling your property at auction, including:

Quick turnaround: Auctions are renowned for their quick turnaround. Usually, they require completion just a month after the winning bid.

Low risk of fall-through: When the gavel hits, your buyer is committed. They pay a hefty deposit on the spot and immediately sign the contracts. Even though they could still pull out, it’s highly unlikely.

Inspires competition: An experienced auctioneer can inspire a healthy amount of competition for your property. If this happens, your property could sell for more than you think. However, getting a good deal isn’t guaranteed when selling at auction, so be wary of any auctioneer that promises such things!

Selling a Property Via an Estate Agent

What Are the Cons of Selling Via an Estate Agent?

Not cons exactly, but if you are considering the traditional method of sale, there are some things you’ll need to take into account:

Estate agent fees: Just like auctions have fees, you’ll still have to pay for the services provided by your estate agent.

Security of sale: Good estate agents take measures to prevent gazumping. But, since buyers aren’t charged an instant deposit like they are at an auction, there’s less security in the sale going through.

Time: Selling via an estate agent can be a quick process. But it’s highly unlikely it’ll ever be as quick as an auction house!

What Are the Pros of Selling via an Estate Agent?

It all depends on your situation. If you have time to work with an estate agent, it will mean:

Less admin: Estate agents make life easier. They prepare the property listing, take photos, market your home, organise viewings, answer countless enquiries on your behalf and ensure the sale progresses smoothly. Auctioneers can lend a hand, but it won’t be as in-depth as an estate agent.

Higher selling prices: Usually, you can get more value when you sell your home via an estate agent compared with an auction. Unlike auctions that have a limited buying pool, everyone’s at the table when selling via an estate agent!

More control: Even though you can set a reserve price at an auction, there’s no telling how much your property could sell for. Selling via an estate agent gives you full control over the price you get.

Need Help Deciding?

We’d love to have a chat with you. Here at Warren Powell-Richards, we’re your local property experts. We can help you decide which route is best for selling your property.

Give us a call today or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Are You Ready to Downsize? 5 Signs It’s Time to Make the Move

Are you wondering if it’s time to downsize?

The term downsizing simply means selling your home to buy a smaller one. But while the definition is easy to understand, the decision certainly isn’t easy to make. Choosing to sell your home is a big decision. And downsizing can feel like an even bigger one.

People sell their homes in exchange for a smaller one for many different reasons. But it’s usually because the space isn’t right for them anymore.

If you’re unsure whether you’re ready to downsize, here are five signs it might be time to make the move.

  1. It’s Hard to Maintain

The bigger the house, the harder it is to maintain – and that’s a fact. From general repair work to regular hoovering, there’s a lot that needs to be done to keep a house in check.

If you’re struggling to keep up with the maintenance of your home, because of changes in your mobility or just because your priorities are different, downsizing can make these things much more manageable.

  1. You Have Too Much Empty Space

Do you have more empty bedrooms than you know what to do with? Many families need a lot of space in the early days. But, as the kids get older and move out into places of their own, it can leave parents with lots of empty bedrooms.

Some people enjoy the extra storage space or use the bedrooms to create a home gym or office. But if you don’t have any use for your empty space, that may be because there’s too much of it.

  1. Health and Mobility Reasons

When daily life becomes a strain because of your home, it’s not a good sign. Many people prepare for older age by moving into a home that’s smaller with no stairs. Others choose to make adaptations to their homes to stay living in them for longer.

Just because your health and mobility have changed, it’s not an automatic sign that it’s time to downsize. But if you’re struggling to get by, even with adaptations, making the move could make life easier.

  1. Your Bills Are Unsustainable

Finances are a big reason why many people choose to downsize. When you retire, reduce your working hours or you just have one less person around to help pay the bills, your outgoings can easily start outweighing your incomings.

If this happens, downsizing could be the solution you need. By moving to a smaller property, you could create a sustainable living situation with more manageable bills.

  1. Your Home Makes You Emotional

Our homes should be places that make us feel happy and comfortable. But if you feel lonely, sad, or even scared when living in your house, it may not be the best place for you to live.

Moving home can feel like a fresh start for many reasons. While downsizing may not always be the solution, moving somewhere smaller or that’s in a different community could feel safer and more like home.

Are You Thinking About Downsizing?

Downsizing is a big decision that you shouldn’t feel pressured into making. The most important thing to do is to make sure it’s the right choice for you.

If you’re thinking about downsizing from your home, our friendly team at Warren Powell-Richards are happy to help talk through your options.

Give us a call today or send us an email on This email address is being protected from spambots. You need JavaScript enabled to view it. for an informal chat.

 

How Desirable is a House With a South Facing Garden?

Does your home have a south facing garden?

Buyers are attracted to a south facing garden for many reasons. While the value they add to your home may be negligible in the grand scheme of things, having a south facing garden is a top selling point that can create interest.

If you have a south facing garden, here is our view at Warren Powell-Richards about how desirable a house with a south facing exterior is to buyers.

What is a South-Facing Garden?

The clue is in the name, but a south facing garden faces south! Normally, this means the back of your house faces towards the south pole. Many estate agents will market a home as south facing even if it points south-west or south-east, depending on the exact position of your home.

You can usually tell if your house is south facing if you have the sunlight in your back garden all day long or if a compass points south when you are in the garden. But, to know for sure, invite an estate agent round for a free valuation. They’ll be able to tell you whether it’s classed as south facing and, if it is, how much value it could add to your property.

Is a South Facing Garden More Desirable For Buyers?

A house with a south facing garden has many benefits and it’s certainly an attractive and desirable feature for many buyers in the area.

While a south facing garden doesn’t necessarily add value to your home, it’s a great selling point that can make your home more attractive and sell quicker, particularly since homes with a south facing garden provide benefits like:

More sunlight in the garden all day Perfect for sunbathing and kids playing outside

Opportunities for plants and vegetables With more warmth and sunlight all year round, you have more opportunities to grow vegetables and maintain exotic garden plants

Warmer garden and back-end of home Naturally, the garden is warmer with a south facing garden, and the back part of your home will stay warmer, too

Better for drying clothes on the washing line More sunlight means quicker air-drying times, which is perfect if your home doesn’t have space for a tumble dryer

Patios stay cleaner and require less jet washing Ideal for any buyers looking for a low maintenance home

Get an Expert Valuation

Are you selling your home in the area? Our friendly team here at Warren Powell-Richards are your local property experts and we’d love to hear from you.

If you want to know how much your house with a south facing garden is worth to buyers in the area, get in touch today to request a valuation.

Call us today or send us an email at This email address is being protected from spambots. You need JavaScript enabled to view it. to request a call back from us.

 

When is Probate Required?

If you’ve inherited a property that you want to sell, you’ll usually need to undergo probate before you can progress. The process can be complex, but working with the right estate agent and solicitor can make the sale as smooth and painless as possible.

In this article, we’ll explain what probate is, when it’s required and how to sell a property when probate is required.  

What is Probate?

Probate is the legal and financial process that deals with any assets (including money, properties or possessions) of a person who has passed away. The process involves proving that the will is valid and confirming the executors of the will have the authority to administer the estate of the person who has died – which includes whether you can sell the property.

What is Grant of Probate?

If you are selling a property you have inherited due to someone passing away, you will need to apply for grant of probate before you can proceed with the sale. This is a legal document that confirms the executors of the will can start the sale of the property and deal with any other assets of the deceased person.

When is Probate Required?

In England and Wales, probate is usually needed when:

A person has died and owned property

A bank or other financial institution asks for grant of probate

How to Sell a House When Probate is Required

  1. Arrange a Valuation

Knowing the value of the property is important when selling a home during probate. The property value will help determine the overall value of the deceased person’s estate. It’s also used to calculate how much inheritance tax must be paid.

When selling a house during probate, make sure you choose a reputable estate agent with good reviews to evaluate the property.

  1. Speak to a Solicitor

A solicitor will need to apply for a grant of probate before you can sell the property. This process involves identifying all the deceased person’s assets, confirming who will inherit the assets in the will, arranging payments of inheritance tax, and granting probate ready for you to sell the property.

Many solicitors can also help progress the sale to a buyer after granting probate. If you can’t find a good solicitor, ask an estate agent for a recommendation.

  1. Work With an Estate Agent

Once probate has been granted and you have the go-ahead from the solicitor, you can work with an estate agent to sell the property. When choosing an estate agent, consider how much involvement you need and what qualities you’d prefer.

Expert communication and good availability may be particularly important qualities to consider when choosing an estate agent to progress a probate sale. This is especially the case if multiple people are inheriting the property and/or you cannot be available often to help with viewings.

Are You Selling a House With Probate?

Selling a house with probate can be an emotional period. Choosing the right estate agent to help progress the sale is important to make the situation as painless as possible.

If you’re selling a house with probate, Warren Powell-Richards are your local property experts and we’re here to help.

Give us a call today or email us at This email address is being protected from spambots. You need JavaScript enabled to view it. for a chat with our friendly and compassionate team about how we can help.

 

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