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.

2. 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.

3. 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 in Warrington, Hamlet Homes Warrington are your local property experts and we’re here to help.

Give us a call today on 01925 235 338 or email us at manoj@hamletwarrington.co.uk for a chat with our friendly and compassionate team about how we can help.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
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Warrington Homeowners Pocketed £165k Each in the Last 20 Years

• The average house price in Warrington has increased by 193.2% to £249,800 in the last 20 years, a profit of £164,600
• That means, when adjusted for inflation in those two decades, Warrington house prices have risen in real terms by 121.1%
• What does this mean for existing Warrington homeowners and first-time buyers trying to get on the Warrington property ladder?

Since 2001, UK average house prices have risen by an astonishing 187.2% across the UK, while in London the figure is 247.6%.

Looking back at the people that bought in those first few years of the new Millennium, few of those buying or selling property in 2001 could have forecast the massive financial impact that their decision then would have on the rest of their lives.

In those years, there have been winners and losers, where some Warrington buyers have made hundreds of thousands of pounds and Warrington renters have paid out tens of thousands of pounds and yet been unable to buy their first home – but life is often not as simple as that, so in this article I wanted to discuss the matter further.

The average house price in Warrington has increased by 193.2% to £249,800 in the last 20 years, a profit of £164,600.

Now of course these are average prices and don’t take inflation in to consideration.

Yet even when adjusted for inflation, Warrington house prices have still risen by 121.1% in the last 20 years.

Characteristically, the longer a homeowner has owned their Warrington property, the larger the gain when they sell. Yet most of these profits are never seen by Warrington homeowners. It has never been money in the bank unless you sell up and downsize or move somewhere cheaper. Instead, these gains are re-invested back into the housing market when they buy their next home.

So, whether the gains are banked or tied up in their bricks and mortar, it looks like all the Warrington homeowners are in the driving seat.

What about all the Warrington first-time buyers, priced out of the market and unable to get on to the property ladder?

Are the young of Warrington losing out again?

Reading the newspapers you would think so, yet nothing could be further from the truth. In fact …

It’s 37.1% cheaper today to buy a house

in Warrington compared to 2007

That isn’t a typo!

In 2002, 19.4% of a first-time buyer’s household income went on the mortgage payments. Today, that figure stands at 23.8%, yet in 2007, it was 37.9% ... hence why it’s cheaper today!

Of course, for most young Warrington potential first-time buyers, the other largest barrier to home ownership is the matter of raising an adequate deposit.

Rising rents (and future energy prices) won’t help and will in fact make this problem worse, giving ambitious Warrington first-time buyers not much left at the end of the month to save a deposit for their first home.

With soaring Warrington house prices, this means the amount Warrington renters need to save for their deposit is growing year on year.

For these annoyed renters, there is the unpleasant irony that if they could only get on the Warrington housing ladder, they would find themselves better off. They would spend a lower proportion of their monthly take home pay on keeping a roof over their heads.

Some people in the press have suggested the older generation, with all the equity tied up in their homes over the last 20 years, should release some of the money and give it to their children or grandchildren to help them on the ladder, maybe?

Reports in the press have also described many homeowners in their 60’s (and older) changing their plans to move home. Many were planning to downsize, to release the tied-up equity in their home. That equity would either be used to invest in the bank to produce an income for them and/or to help their children (sometimes even grandchildren) on to the property ladder.

Yet with the interest paid by banks and building societies on any lump sum being very low, to many mature homeowners it hardly seems worthwhile making the move to downsize. This means many younger would-be first-time buyers are missing out on help from the Bank of Mum and Dad (or the Bank of Grandad and Grandma) with their deposit.

However, the problems caused by low interest rates could also be their saviour.

Many older homeowners have turned to equity release, thus allowing them to get hold of a share of the equity amassed in their property, in exchange for a tax-free lump sum of cash.

Cash that could be used to help with

deposits for their children/grandchildren?

The mature homeowner then stays in their larger family home and helps their family buy a property.

Whilst I am not a mortgage adviser (and you must take proper advice from a qualified mortgage broker), equity release mortgages don’t have end dates and the interest payments are rolled up (until you pass away). This means that there aren’t any monthly payments.

The interest rate you pay is normally fixed for the mortgage and because interest rates are so low, that means the debt shouldn’t balloon up. And should you decide to sell in a few years’ time, you just pay back the capital, redemption fee and the small amount of interest accrued.

Now of course, that does mean there will be less for

your offspring to inherit when you pass away.

Equity release mortgages though have had some bad press recently. In the past they were unregulated and pricey. Yet today, there is more protection for borrowers.

One answer to the growing interest debt is to pay part or all the monthly mortgage interest charged, yet you must have the income for that.

You also need to take advice on how the equity release will affect your liability for nursing home fees and inheritance tax. Also, if only one person in your home is the owner of the property, if that homeowner dies, the partner who is not on the mortgage (because only owners can go on a mortgage) won’t have any rights to stay in the family home.

Finally, if you are planning to move, don’t just compare the interest rate, but the redemption charge for early repayment – some of them can be very high.

My advice – take professional advice and speak to your family and involve them. Yes, we have all built up some amazing equity in our Warrington homes, and yes, there is potential to help the younger generations with that wealth. Just go in with your eyes open and know all the facts, all the pros and all the cons – then decide what is best for you with all that information to hand.

What are your thoughts, as a mature Warrington homeowner or a first-time buyer, on this? It would be good to hear from you.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

How Long Do I Have to Respond to an Offer on my House?

 

While there isn’t a specific rule about how long UK sellers have to respond to an offer, it’s best to get back to your buyers as quickly as possible.

These decisions shouldn’t be rushed. But, for buyers, putting an offer in on a property is an exciting time. The quicker you respond, the easier it is for them to maintain their excitement about buying your home. Plus, if you accept the offer quickly, it can make buyers more motivated to get things moving at their end to progress the sale.

If you’re considering what to do with an offer a buyer has made on your home, here’s our advice on how long you have to respond and how to decide whether to accept.

How Long Do Sellers Have to Respond to Offers?

Since there isn’t a legal requirement about how long you have to respond to an offer, you can take as long as you like. In fact, you don’t have to respond to an offer at all (not that we’d recommend it).

Our advice is to respond to any offer as quickly as possible. A same-day response is ideal, but if you need more time to consider the offer, we’d suggest getting back to the buyer within 24-72 hours or no more than three working days from when the offer was made.

How to Respond to an Offer

1. Accept It

Naturally, you can accept an offer made. If the quality of the offer is strong and you’re happy with the interested buyer, you can accept the offer as it is.

2. Provide a Counteroffer

If you’re not happy with the offer, but you like the buyer, you can go back with a counteroffer. Speak to your estate agent if you need advice about what to pitch and what’s realistic to expect.

3. Reject It

It’s usually better to make a counteroffer rather than flat-out rejecting. However, just because a buyer makes an offer, you don’t need to accept it. If you’re not happy with the offer (or the buyer), you can reject it outright.

Remember, the buyer may still come back with another counteroffer after you’ve rejected them.

What to Consider Before Responding to an Offer

If you’re not sure about whether you should accept the offer, speak to your estate agent for advice. While the decision is yours, they can provide their insight to help you decide.

Before you respond to an offer, consider the following:

Quality of Offer

Is the offer in line with your expectations?

Will it get you enough money to purchase the property you want to buy?

Consider how good the offer is and whether it’s realistic to expect more.

Market Conditions

Is it a buyers’ market right now?

Or do you have the upper hand as the seller?

If you were hoping for more, consider whether the market conditions are in your favour.

Buyers’ Situation

How desirable is the buyer to you?

Do they have a chain or are they a first-time buyer?

Do they seem motivated and ready to get things moving?

Ask yourself these questions to see if the buyer and the offer they’ve made sits right with you.

Speak to an Agent For Advice

Ultimately, the decision about what to do with the offer you’ve received is entirely yours. But if your buyer has made an offer on a property you’re selling with Hamlet Homes Warrington that you’re not sure about, you can speak to one of our friendly agents for advice on how to decide.

Give us a call today on 01925 235 338 or send us an email at manoj@hamletwarrington.co.uk for a chat with one of the team.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

The Future of the Warrington Buy-To-Let Market in 2022

The Headlines...

• Warrington rents up by 9.6% in the last 12 months
• Warrington house Prices up 10.4% in the last 12 months
• Warrington landlords helped by ultra-low mortgage rates and a stamp duty holiday
• Yet, some landlords in Warrington anxious about a possible end to no fault evictions
• New EPC rules could cost Warrington landlords £10,000+ per property

In this article, I will look at what happened in 2021 in the Warrington buy-to-let property market and give you my opinion as to what lies ahead for Warrington landlords in 2022 and beyond.

On a positive note, Warrington house prices have rocketed, rents have risen faster than inflation, at the start of the year we had the benefit of a stamp duty holiday and finally, ultra-low mortgage rates, meaning Warrington landlords had lots to be happy about in 2021.

On a more cautious note, the laws regarding renting are currently being debated in Parliament which will see the end of no-fault tenant evictions and changes in regulations will require Warrington landlords to make their buy-to-let rental properties more eco-friendly at a cost of up to £10,000+ each.

So, let’s have a look at these points…

Warrington Rents will Continue to Rise in 2022

Warrington buy-to-let landlords have seen the average rent of a Warrington rental property rise by 9.6% in the last 12 months.

The number of Warrington properties available to rent on the property portals (e.g. Rightmove etc) at any one time is roughly 35% to 40% below the last decade’s average, meaning there is greater competition for each rental property.

Demand has increased for several reasons.

Firstly, some homeowners cashed in on the high prices, sold up and moved into rented property.

Secondly, some Warrington buy-to-let landlords have also cashed in on the buoyant property market and sold their rental property when their existing tenant handed in their notice.

Finally, the rental sector has an inverse relationship to the state of the general British economy, meaning with the uncertainty in the British economy in the early part of 2021, this meant more people decided to rent rather than tie themselves into a mortgage.

Looking at the supply side of the Warrington rental market, in the short term, rents will continue to grow as some Warrington landlords are abandoning the rental market - some because of the impending regulation changes which I will talk about later and others with the natural flow of people cashing in their investments on retirement.

With increased demand and restricted supply, this will only lead to competition becoming more severe between renters, thus making Warrington rents continue to rise.

Warrington House Price Growth Will Slow

For those that own property, the way house prices grew in 2021 surprised most people.

Warrington house prices, according to the Land Registry, grew by 10.4% in 2021, with the typical Warrington home reaching £249,800.

Many local landlords have been helped by this increase in Warrington house prices and will be in a place to cash in on those capital gains by either selling their buy-to-let property (as mentioned in the previous section) or releasing some equity by re-mortgaging.

Whether Warrington house price rises carry on at such a rate in 2022 will mainly depend on whether the imbalance between the number of properties that come on to the market (supply) is outweighed by the number of buyers (demand).

Most commentators believe that nationally house prices will be between 3% and 5% higher by the end of 2022 and I can see no reason why Warrington house prices won’t be in that range by the end of the year either.

Mortgage Rates Will Rise

The reduction in tax relief for Warrington buy-to-let landlords with mortgages in the last five years hit some landlords hard, yet this has been tempered by the inexpensive ultra-low mortgages available to buy-to-let landlords.

Yet even with the Bank of England increase in base rates, Warrington landlords with big deposits of 40% or more can benefit from low rates. For example, at the time of writing, you can get a BTL mortgage at 1.49% fixed for 5 years with a 40% deposit (meaning borrowing £180,000 on a £300,000 purchase would only cost you £719 per month on a 25-year mortgage - or £224 per month on interest only).

However, those with only a 25% deposit must pay slightly more, but only at a mortgage rate of 1.64% - who can remember mortgage rates of 14% to 15% in 1992?

With inflation rising, the Bank of England has already indicated further interest rate rises are on the cards. I suspect they will be around the 1% mark by Christmas 2022. Therefore, if you are one of the one in five landlords on a variable rate mortgage, your margins will be squeezed as your variable rate mortgage will rise in line with the Bank of England interest rate rise.

Maybe it’s time to consider fixing your mortgage?

The End of No-fault Evictions?

The Renters' Reform Bill in England and The Renting Homes Act in Wales are both set to abolish Section 21 (no fault eviction). Section 21 laws allow landlords to take back possession of their rental properties without having to prove fault by the tenant.

Yet in 2022, Westminster will issue plans for a change of this law which will probably incorporate the eradication of Section 21, which would signify a major change in the balance of power between the landlord and tenant.

Some doom mongers are worried that with the abolition of Section 21, Warrington landlords may be unenthusiastic about renting and therefore sell up and leave the rental sector altogether. Yet those people said the same when tax relief for landlords was changed five years ago.

The Scottish equivalent of Section 21 was abolished at the end of 2017.

At the time, there was some anxiety about how this would affect the Scottish rental market, as anxious landlords and letting agents felt that they could lose control of their rental properties under this new law. Nonetheless, just over four years later, the rental sector has not collapsed in Scotland. The buy-to-let market remains upbeat, and there are signs that a Scottish landlords’ right to evict their tenant has been reinforced by these changes in the law.

The reason the Scottish changes worked was the new grounds for repossessing rental properties was clear and wide-ranging. The Scots sped up the slow and unwieldy eviction process where the landlord had a legal and genuine reason to re-claim their property.

All I hope is the same changes are made south of the border to the court procedure.

New EPC Rules Could Cost Warrington Landlords £10,000+ per Property

The law currently stands that Warrington landlords need an Energy Performance Certificate (EPC) with at least a rating of E.

Westminster is anticipated to increase the EPC requirement for private rental properties in England and Wales to an EPC rating of C for all new rental tenancies by 2025/6, and for all existing tenancies by 2028, whilst Scottish landlords are also expected to see energy efficiency measures in their new proposed Housing Bill.

The problem is 1,959,045 of the 2,965,455 registered rental properties on the EPC database have an energy rating of D or below.

To take a property from an EPC D rating to a C rating might only cost a few hundred pounds, yet the average for all rental D and E rated properties has been calculated at just over £10,000 per property.

My advice to every Warrington landlord is to look at the full EPC report of their rental property (and if you haven’t got it, contact me and I will send it to you -whether you are a client or not) as that will tell you whether this will be a big or small job.

Renovating the UK’s rental stock to meet the Government's carbon neutral targets will be a big trial for landlords. There is talk of exemptions, as there currently is for the existing minimum EPC E rating - yet only time will tell on that front.

Maybe those Warrington landlords currently buying properties to add to their rental portfolio should reconsider their buying strategy? In the past, it has been normal for Warrington buy-to-let investors to be attracted to the inexpensive older properties that need an overhaul. However, with the potential energy efficiency laws coming into the game, it's rational to suggest that buy-to-let landlords will be more predisposed to buying slightly newer properties rather than have the cost for the upgrades to meet the potential energy targets.

Conclusion

Roll the clock back 20 years and making money from buy-to-let in Warrington was as easy as falling off a log. Yet with increased legislation and regulation, together with the changing dynamics of the British economy and the requirements tenants want in a rental property, making money won’t be as easy over the next 20 years.

It amazes me that 11 out of 20 landlords do not use a letting agent to help them with their rental portfolio, considering the cost can be offset against your tax.

Moving forward, the savvy Warrington landlords will more and more utilise their letting agent not only to collect the rent and manage the property but also build up their portfolio to withstand the regulatory and demographic changes on the horizon and to ensure that their investment is fit for purpose in the medium to long-term.

If your existing letting agent does not offer such advice, or you are a self-managing landlord, let’s have a chat about future of the Warrington rental market.

Whether you are a client of mine or not, if you would like me to look at your rental portfolio and see where you stand, then drop me a line and maybe we can meet for a coffee (or we can meet virtually over Zoom) to discuss the matter – all at no charge.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
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How Desirable is a House With a South Facing Garden in Warrington?

Does your home in Warrington 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 Hamlet Homes Warrington about how desirable a house with a south facing exterior is to buyers in Warrington.

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 Warrington 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 Warrington 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 Warrington area? Our friendly team here at Hamlet Homes Warrington 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 on 01925 235 338 or send us an email at manoj@hamletwarrington.co.uk to request a call back from us.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

My 11 Rules to Buying a Warrington Property

Finding your next Warrington property, be that for yourself to live in or as a Warrington buy-to-let landlord, can sometimes be a scary task. You are possibly making one of the biggest purchases of your life, and you want to ensure you make the right choice.

Buying your next property is all about finding a Warrington property with the features that match your requirements. However, what might be important to you as a homebuyer, might not be as important to other Warrington homebuyers.

Some features will be red line must haves, whilst other features might be more negotiable, yet understanding what your requirements need to be, will make it easier to find the Warrington home of your dreams.

Let’s look at my top 11 rules you need to consider when buying a property in Warrington.

1. Location, Location, Location in Warrington
You can change many things within a property, but location isn’t one. They say you should buy a property for the things you can change. Go and visit the different neighbourhoods of Warrington. Don’t just drive through them, walk through them at different times of the day. Look at weekdays as well as weekends. Think about transport links with access to bus routes, arterial roads. If you have children (or your tenants may have), think about school catchment areas for primary/secondary schools.

2. Warrington Bedrooms

Did you know there are 194,449 bedrooms in Warrington?

Well, you do now! Anyway, the number of bedrooms is a very significant consideration when buying your new Warrington home. If you need bedrooms for your children, the location of the bedrooms could be an issue. Depending on the age of any children, you might not want them to be a long way from the master bedroom, or if the children are teenagers, the opposite could be true. Bedroom size is also important. Is there enough space for children to study or have wardrobes? Do you need bedrooms for an office? If office space is required, you might want to consider a property with one less bedroom and one more reception room – and it will probably be a little cheaper. All things to consider.

3. Potential Future House Price Growth in Warrington

The type of Warrington house you buy will determine how it increases in value in the future. Now this shouldn’t be the main consideration, yet it’s important to consider.

Since 2001, the different types of property in Warrington have risen by different percentages:

• Warrington detached properties have risen by 155.7%
• Warrington semi-detached properties have risen by 156.7%
• Warrington town houses/terraced properties have risen by 177.5%
• Warrington apartments/flats have risen by 162.1%

On a standalone point for Warrington landlords, the level of rent and yield are important considerations for your Return on Investment (ROI). There tends to be an inverse relationship between capital growth and yield (i.e. Warrington properties with higher capital growth tend to have lower rental yields). If you are a Warrington landlord and have any questions on this (or any point), drop me a note.

4. The Overall Interior Size Of Your Future Warrington Property

On average a person only views five houses before they buy a house and only spends around 20 minutes in each on a viewing. Therefore, I would advise that you have a good idea about the size of Warrington home you require before you start your search. If you have a big family you are going to need a bigger house obviously, yet you still need the budget to afford to buy the bigger Warrington home. A top tip for you, the general rule of thumb is the older the house, the more you get for your money.

One great idea to calculate the square metreage of your potential Warrington home. Ask to view the full copy of the Energy Performance Certificate, as it has the size of the property in square metres.

Bigger Warrington houses tend to cost more money to run with utility bills and council tax.

A final thought on size is the question of whether your family is likely to grow in the next decade? Will you have more children or is a parent coming to live with you?

5. The Price You Will Have To Pay For Your Next Warrington Home

In the last 12 months, the Warrington property market has remained buoyant as Warrington people were forced to spend more time at home. Therefore they looked for more space … but what did they have to pay for that privilege?

• 592 Warrington detached properties have sold for an average £381,400
• 813 Warrington semi-detached properties have sold for an average £220,600
• 469 Warrington town house/terraced properties have sold for an average £166,000
• 125 Warrington apartments/flats have sold for an average £123,900

Look at the property portals (e.g. Rightmove, Boomin, Zoopla and OnTheMarket) and search for Warrington property that is both available and sold subject to contract. Get a feel for asking prices of the Warrington properties that are sold subject to contract as these will give you a good idea what they roughly sold for. Again, if you are not sure, pick up the phone or drop me a line.

6. Bathroom(s)

Check the bathroom for water leaks. Do the toilets flush OK, do the taps drip? Is there any mould? And do you need more than one?

7. The Lounge/Living Room

You will undoubtedly be spending a lot of time in the lounge/living room, so it needs to meet your requirements. Do you need a dining area? Does the design and arrangement of the room suit your lifestyle (or your tenants). Will you need new furniture? Are there enough electrical sockets? What are the carpets like? That goes for all rooms.

8. Central Heating For Your Warrington Property

What type of central heating system is present, and does it meet the requirements of you and the home? The Energy Performance Certificate (EPC) will tell you how energy efficient the property is and how much it will cost to run. You would be amazed how few buyers ask to see the full copy of the EPC – yet you have the right to view it – always ask the estate agent for a copy or download it for free from the Government website.

9. The Outside

The outside space of your future Warrington home is also something you need to reflect on before you start your search. What sort of back garden do you want? Do you want low maintenance? Do you want a bigger garden? You also need to ensure the outside of your next Warrington home is in great condition. Yet, if it’s a ‘do’er-upper’, does the price allow for those works to be done?

10. The Loft And Cellar

Another aspect to consider when buying a Warrington property is the loft (or even the cellar/basement if it has one). In both, look for water damage that could mean problems in the future whilst in the cellar/basement, a musty smell could be poor ventilation meaning dry damp could be an issue. Also check for insulation in the loft (the Energy Performance Certificate will tell you if it’s up to standard).

11. Garage/Off Road Parking Space

How many cars do you have in your family? Can you park them all on your drive? Visit the property during the day, the evening, and weekends to see how the parking provision changes. If the property has a garage, can it be used for something else?

These are my top 11 rules – yet do you have others I haven’t considered?

Let me know in the comments.

In the meantime, what are your thoughts about excess ‘spare bedrooms’? Let me know in the comments.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
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Are Conservatories Worth It? Here Are 5 Pros and Cons

Conservatories have their downsides, but they also have many benefits. Even though these home extensions have been around for centuries, they are still considered a modern-day renovation for many homeowners.

In this article, we’ll provide our view on what the pros and cons are of conservatories to help you decide whether installing one is worth it for you.

Pros of Getting a Conservatory
1. Added Living Space

Most people could do with more living space in their homes. Whether that’s a private space to read, a dinner table to host the whole family, an office area, or just somewhere to store your extra furnishings. A conservatory is a great way to boost your living space and create a tranquil area of your home that feels closer to nature.

2. Great Value for Money

Home extensions are popular – particularly among growing families to boost living space. When choosing between an extension and a conservatory, conservatories are almost always the more cost-effective option. With a conservatory, you can extend your home to the same square meterage that an extension would provide for half the price.

3. Increased Property Value

An extension of any kind can increase the value of your property – conservatories included. Since these renovations provide a warm space to relax in summer, they can be highly desirable to buyers. If you opt for a tiled roof instead of traditional panels, you could see even more of a boost in value.

Cons of Getting a Conservatory
1. Noise During Rainfall

When it starts to rain, conservatories can be noisy. Depending on which type of roof you have, heavy rainfall can be quite a disruption to your home environment. While tiled roofs shouldn’t be too much of an issue, a uPVC roof can be – which is particularly important to consider if you plan on using your conservatory as a dining room.

2. Colder in Winter

Conservatories are well-known for becoming gorgeous sunrooms during the warmer months. However, traditional conservatories with uPVC panelled roofs can drop in temperature during winter. While you can still use them, it’s much colder and heating the area can be expensive because of the lack of insulation.

If this doesn’t sound ideal, you can opt for a conservatory with a tiled roof instead. Typically, these roofs are fully insulated, making it comfortable to lounge in all year round. Plus, you can opt for skylights and panoramic windows with a tiled roof, so it can still feel like a sunroom.

Are You Renovating Your Warrington Home?

Renovating your home can be an excellent opportunity to boost your resale value. If you’re making home improvements to your Warrington home or getting ready to sell, our friendly team of estate agents at Hamlet Homes Warrington would love to talk.

We can offer advice on the best home renovations to boost resale value in Warrington and help you get ready to put your home on the market.

Give us a call today to learn more at 01925 235 338 or send us an email at manoj@hamletwarrington.co.uk to arrange a call back.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page

The 7 Things Warrington Home Sellers Should (and Shouldn’t) Do in 2022

Did you know 9,785 Warrington homeowners are considering selling their Warrington home between now and the summer of 2023?

Reports in the press suggest 1 in 5 homeowners are considering moving home in the next 18 months.

This will change the dynamics of selling your home in Warrington, meaning there are certain matters that you, as a Warrington homeowner, should do before placing your property on the market to ensure you get the best price, reduce the hassle and even more importantly, when you do sell, ensure the move actually takes place. Why is this important?

1 in 3 Warrington house sales fall through between sale agreed

and the keys being handed over

Also, nationally, the average length of time a property is taking from sale agreed to key hand-over is 19 weeks ... and the longer the sale takes, the greater the propensity for the sale to fall through.

So, if you are thinking of selling your Warrington home, here are 7 things you should consider (plus some tips for those Warrington homeowners currently on the market)…

1. Get your ducks in a row

Although it may seem apparent, having everything in place for the time you come onto the Warrington housing market can really take weeks off the time between sale agreed and key handover and even avert the house sale collapsing.

For example, if you have had any building works done on your house, ensure you have the relevant paperwork now. That could be ensuring you have the Completion Certificate from the local authority for that extension you had a few years ago. Yes, you had planning permission, but are you aware you need a Completion Certificate from Warrington Borough Council as well?

If you haven’t got the required building regulations or planning consent for any work (including changing your windows), that can really harm the price you achieve for your Warrington home, or it could even finish the deal altogether.

Also, if your Warrington home is old (say 150 years plus) or even listed, you should think about spending a few hundred pounds and get a survey done on your own house, especially if you have been in the house for more than 10 years.

This will highlight any issues that need to be rectified (and be shown to potential buyers) in case they start to nit-pick. If you need recommendation of a good Warrington chartered surveyor – drop me a line.

2. Carpet ‘photo’ bombing

First impressions are everything, and you only get to make a first impression twice.

Yes, I said twice, once with the photographs and the second time when the potential buyers view your Warrington home.

They say a picture speaks a thousand words, so ensure your agent photographs the best rooms from the best angles. The most important photograph is the front shot of your Warrington home, so always ask to see the photographs before your property goes live on to the market to make sure they show your property in the best light possible.

The second ‘first impression’ is when viewers view your home. Often the thing that lets the side down here is your carpets. If your carpets are more than 10 years old, then seriously consider replacing them with something inexpensive with some decent underlay or give them a good professional clean.

In this Facebook world, your Warrington home needs to look as good as it can to appeal to as many Warrington buyers as possible.

3. Make it a potential home for your buyer, not a shrine to you

There was a house in the East Midlands called “Disaldu” (as in “This will Do”) that had been on the market for four years with six estate agents. As soon as it changed its name, it sold in a week. Be careful about over personalising your Warrington property as that could be off-putting to possible home buyers.

Try not to be too daring with styles and colour schemes in your bathroom and kitchens, as your buyer won’t want to spend another £25,000 changing your neon pink kitchen units to something a bit more mainstream.

Warrington homebuyers often hate to change something which has just been finished but is not to their personal taste. Now I am not talking about magnolia everywhere as there is room for some flare, yet be aware it’s a fine balance between your personal tastes and making your home attractive and selling it in the largest mainstream market possible.

Finally in this section, is your Warrington home cluttered or untidy? Many people won’t be able to see past the jumbled house and overflowing bookcases. If you are unsure, drop me a message and I can pop round your Warrington home when I am passing for 5 minutes if you want an impartial opinion.

4. Highlight the potential of your Warrington home – but not too much

If you were considering extending your Warrington home with a garden room, loft conversion or extension, then getting a local architect technician to draw you up some outline plans to demonstrate the development potential of your Warrington property could be worth spending a few hundred pounds on.

Yet at the same time, be careful not to extend to make your Warrington house more sellable. I have seen a handful of Warrington homes be over-developed (i.e. almost over extended), making the house too big for its plot. It’s all about balancing the house with the size of the plot. Again, if you are uncertain in any way, drop me a line and I can give you some impartial advice (even if you aren’t moving for another 12/18 months).

5. Don’t let your garden grow on you

Since the lockdown began in spring 2020, our gardens have become one of our most cherished features. Warrington homes with decent sized gardens have attracted a premium. However,

over-fussy and poorly planned gardens can also be detrimental to the value of your Warrington home, rather than add value to it.

6. Offices, offices, offices

Working from home could be here to stay for a few years. With this new age of home-working, even if you don’t work from home, maybe set up a study area. It might even be worth investing in one of those office pods for your garden.

7. Make sure the price is right

The bottom line is, if a Warrington property isn’t selling it probably means the asking price is too high. Yes, even in a market such as this….

21.1% of Warrington properties have been

on the market more than 3 months

Putting your Warrington home up for sale at too high an asking price is one of the most harmful things you can do as a seller. This approach regularly costs homeowners between 3% and 5% of their potential price agreed.

If you decrease your asking price at a later date in order to achieve a sale on your Warrington house, you probably won’t get what you might have done if it had been realistically priced from the beginning.

I am aware of a modern 4 bed detached property in Warrington which, in the summer just gone, began with an asking price of £625,000 yet ended up selling for only £560,000. It should have achieved £575,000 with a £579,950 initial asking price (even worse, they missed out on the property of their dreams because that one, being realistically priced, sold before they dropped their own price).

The sturdiest and most important property market response is always in the first couple of weeks of exposure. Many Warrington homeowners waste this optimum sales time by being too hopeful on their asking price.

If you are on the market in Warrington and believe you should reduce your asking price, be courageous with your reduction. Make one substantial change of at least 5%, not a series of salami price changes of a 1% here or 2% there.

So, if you are currently on the market and feel you aren’t getting anywhere and think it could be your asking price, then again, drop me a line.

If you are a Warrington homeowner or Warrington landlord and think this may affect you - feel free to drop me a line.

In the meantime, what are your thoughts about excess ‘spare bedrooms’? Let me know in the comments.

If you are looking for an agent that is well established, professional and communicative, whether you’re buying, selling or looking for an investment opportunity, then contact us to find out how we can get the best out of the Warrington property market.

Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

CLICK HERE TO FIND OUT HOW MUCH YOUR WARRINGTON HOME IS WORTH FOR FREE
Hamlet Homes Warrington, your local Estate Agent
Follow my Warrington Property Market Blog
Hamlet Homes Warrington LinkedIn Page
Hamlet Homes Estate Agents Warrington Facebook Page
Hamlet Homes Estate Agents Warrington Twitter Page