How To Choose The Perfect Buy-To-Let Property

Purchasing a buy-to-let property can be an excellent and rewarding investment. If you choose the correct property then a good long-term income from your investment is nearly guaranteed. However, as with all investments, there are always risks. To try to mitigate these, here are a few things that you should bear in mind when looking for your perfect buy-to-let property.

Know your target market

Who is your target market? If your target market is students or young professionals you need to bear in mind their budget when they are looking for a property to rent and ensure that you do not purchase a property that will be too expensive for them to afford. Remember at all times when viewing potential properties that you are not looking to fall in love with a property for yourself. Buying a rental property should be a decision which is ruled over by your head, not your heart. Having said that, it can often help if you try to view a property through a potential tenant’s eyes as opposed to through a potential landlord’s eyes as that will allow you to see the things that might put a tenant off of your property.

Location, location, location

Look at local amenities and transport links and choose an area that will be attractive to your target market. For example students will need to be close to their lecture halls and local amenities. Being within walking distance of local restaurants and bars would make your property even more attractive to them. Families on the other hand will be interested in the catchment areas of the local schools and how peaceful the area is. It can be wise to invest in areas that you know well as your knowledge can help you to select a tenant who will enjoy living there. Remember happy tenants equal long-term renters which means less rental voids!

Go big?

Smaller properties often have less rental voids than larger properties as it can be harder to find tenants for larger, high rent properties. That is not to say that you should not invest in a larger property but you must be especially aware that if you do you should take care to ensure that it is both attractive to your target market in terms of the make and type of property and in a good location for them.

Do your homework

Property prices rise and fall. Large profits can be made from rental income when interest rates are low but rising interest rates can be a cause for concern for landlords. Make sure that you are aware of current trends in the market and keep on top of them even after you purchase your buy-to-let property in order to ensure that you are aware of and therefore can prepare for any upcoming issues.

If you are considering purchasing a buy-to-let property in Warrington and have any questions or would like to join our early bird list then please give us a call and we will be delighted to assist you.

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.

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How To Make The Most Of Your Outdoor Space During The Colder Months

Your garden or outdoor space really comes into its own during the Summer months. Flowers bloom, birds sing and the sunshine basks everything in a warm and welcoming glow that entices us outside. You would be forgiven for thinking that once the glorious days of Summer are over that your outdoor space will become uninviting and unusable until the warmer days of Spring start to encourage you back outside but, this doesn’t have to be the case.

Light

Nothing makes us scurry inside faster than the nights drawing in. Your garden doesn’t have to be dark and gloomy as soon as the sun goes down though. Install some exterior lights and you will soon be able to enjoy your garden late into the evening. If you don’t have an outdoor plug, solar powered lights are both cheap to buy and low maintenance and just a few strings of solar powered fairy lights can turn a dark and unwelcoming garden into an inviting and cheerful one.

Winter house

Many of us have Summer houses in our gardens. They are lovely places to spend time reading, resting, socialising and enjoying our hobbies in. There is no need to stop using them as soon as Summer ends. Add a few blankets to make them nice and cosy and they can be transformed from a shady place from which to enjoy your garden in the Summer, into a snug and welcoming space to enjoy your outdoors from indoors during the colder months.

Heat it up

A well placed fire pit or chiminea can provide enough warmth to take the edge off of the chill in the evenings. As the year progresses take inspiration from Winter wonderlands and add a warm coat, a few blankets and some hot chocolate and keep socialising in your garden throughout the year.

Keep cooking

You don’t have to stop cooking outside just because Summer has ended. Outdoor pizza ovens are suitable to be used all year round and a well placed gazebo can allow you to use your BBQ even when the rain is pouring down. Investing in a gas BBQ with a good hood will even mean that you can still use it when the wind is howling, if you want to!

If you are considering selling your home in Warrington and would like some more tips on how you can make the most of your outdoor areas during the colder months please do give us a call on 01925 235 338 .

August 2022 Market Report for Warrington

August has been a month of extremes: a heat wave, first holidays abroad in two years, and constant talk of the cost of living increases. This is causing widespread worry, which is an uncomfortable feeling for many.

It’s also causing people to reassess their lifestyles and make changes where they’re able. Many people are considering downsizing in order to reduce their bills or release equity. The property market continues to move, as it always will, with families growing, people passing away, and moving jobs.

Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.

There are currently 331 properties available for sale in Warrington. This is 48 more than last month. Of these 331, 67 were new to the market in the last two weeks. The average price of properties in Warrington is £254,573 with the median price at £210,000.

Most of the properties available are in the £100,000 to £200,000 bracket with 122 currently on the market. There are 24 properties available, in the £500,000 to £1 million bracket. This month, properties in the £400,000 to £500,000 bracket are the fastest movers, only on the market for 71 days. They are closely followed by properties in the £500,000 to £1 million bracket which only remain on the market for 75 days.

Properties priced at £100,000 and under, are now taking 307 days to sell. This is similar to one-bedroom properties with a median price of £90,000 as they are currently sitting on the market for an average of 337 days. This has gone down from 397 days last month.

This is another example of how selling property can take longer than people often imagine. If you’re looking to upsize from your first home, or are an investor looking to change your portfolio, please bear this in mind when planning.

Let’s take a look at the annual figures now.

The majority of sales in Warrington during the last year were semi-detached properties, selling for an average price of £256,092. Terraced properties sold for an average of £203,922, with detached properties fetching £431,100.

Overall, sold prices in Warrington over the last year were 2% up on the previous year and 16% up on the 2019 peak of £229,734.

This shows the high levels of activity in the local Warrington property market, which are likely to increase or at the very least, remain strong in the final quarter of the year. There is a lot of demand and plenty of people looking to move around Warrington.

If you’re thinking of selling your property, feel free to contact us. If you’re thinking of buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email staff@hamletwarrington.co.uk.

Six Reasons People Are Not Buying Your Home That Might Surprise You

A recent survey revealed the top six things that can put potential buyers off of your home and they are not all

as obvious as you might think.

Clutter

Clutter can make rooms feel smaller and is very off putting to buyers especially if they have to step over or go around it. Take some time to declutter your property. If you cannot bear to let go of items then consider renting a storage unit to put some of your things in until you move.

Dirt

You cannot clean too much when you are preparing your home for a viewing. Potential buyers are trying to envisage whether they can see themselves living in your property. Yes, dirty properties can be cleaned but most people find it hard to conjure up an image of what something can look like. So make sure that the image that you provide for them is a clean and welcoming one.

Clingy Sellers

Of course you are anxious to know how a viewing is going and want to make sure that the potential buyers are shown all of the most charming parts of your property. However, sellers that loiter during a viewing are more likely to put buyers off than encourage them to make an offer. This is because potential buyers need to have the opportunity to visualise themselves living in your property and that is much harder if the current homeowner is standing right in front of them constantly reminding them of the life that they are living in the property.

Smells

Unpleasant odours are a big no no for potential buyers. Make sure that you take the time to find the source of any unpleasant odours and deal with them. While you may be tempted to burn your favourite scented candle, be aware that no scent, however strong, can mask an unpleasant odour. Instead you end up with a mix of the two scents which can be highly unpleasant. Fresh air is the most attractive scent to buyers so make sure that your property has been well aired before any viewings.

The Goldilocks Effect

If a potential buyer feels too hot or too cold it will affect their perception of your home. You don’t want them to think of your property as ‘the cold house’ or ‘the hot house’. You want them to be as comfortable as possible during the viewing. 21°C is an ideal temperature, so consider adjusting your thermostat accordingly a couple of hours before each viewing.

Your estate agent

Rude and unhelpful agents don’t only annoy potential buyers, they may put them off of purchasing your property completely. Take some time when selecting your agent to talk to them about the local area and their experience of selling similar properties like yours. If you don’t find them to be knowledgeable and approachable then your potential buyers won’t either and it is important that when you leave them alone with your potential buyers during viewings that they have the social skills to be able to turn a potential buyer into an offer.

If you would like more advice on what you can do to present your property in its best light during viewings or are considering selling in the Warrington and would like a free no obligation valuation then please don’t hesitate to give us a call on 01925 235 338

How To Find And Keep Good Tenants

All landlords want a good tenant. Even better is a good tenant who wishes to rent your property for a long time as it means you won’t be faced with rental voids or the stress of frequently having to find new tenants. Long-term tenants also tend to take better care of properties as they are more likely to treat them like their homes rather than as just temporary accommodation.

So how can you find your perfect tenant? Here at Hamlet we know that the best way to attract your ideal tenant is through targeted marketing and consistent good service. So what does that mean?

Identify your perfect tenant

A listing is just like a dating profile. If your ideal tenant finds the listing for your property online and doesn’t like the look of it then they won’t bother to consider it. So first take some time to think about who your ideal tenant is and then consider if there is anything you can do to make your property and your online advert more attractive to them.

Location, location, location

Highlight the proximity of the local services and attractions that your ideal tenants would use. For example if you would like to rent to students then mentioning the distance to the university would be a good start. For families let them know which school’s catchment area your property falls within and for young professionals focus on distance to transport links and local nightlife.

Take an objective look

Try to see your property through the eyes of a potential tenant. Is your property in need of a fresh coat of paint or are there things that you have been meaning to fix but haven’t got around to yet? Things like this can be a red flag for a tenant as it may give them the impression that you are a neglectful landlord.

Research

Look at similar properties in your area to ascertain what your competition is offering and make sure that you are not trying to set your rental price too high in comparison to them. Good tenants always have their pick of properties so do not price yourself out of their search by setting your rent too high. It can also lead to it taking longer to find tenants so the rental void may cancel out any gain you make from the higher price.

Choose your letting agent carefully

If you want good, long-term tenants then choosing the right agent to manage your property long-term is as important as choosing an agent who will be able to market your property well and find tenants fast. The key to getting long-term tenants is to treat them well and if your managing agent does not do that then you will have a high turnover of tenants and word will soon get around amongst tenants that it is unwise to rent through that particular agent reducing your pool of potential tenants. Here at Hamlet we have been responsible for managing hundreds of properties in Warrington and our happy landlords and tenants are proof that we truly are agents who care.

If you are a landlord and would like to discuss how wecan help you both find good tenants and keep them long-term or are a potential tenant looking for a property to rent in Warrington then please give us a call on 01925 235 338 and we will be delighted to help you.

How To Make Moving Home Less Stressful

Moving home is an emotional time. You may be sad to be leaving your old home but at the same time be excited about moving into your new one. Finding the right home for you and your family can be a stressful experience and then just when you have finished jumping through all of the necessary hoops and signing all of the paperwork the most stressful part of all begins, moving!

However, with a little bit of planning you can help to reduce some of the moving day stress and make moving into your new home a more enjoyable experience.

Start now

If you are reading this blog then it is likely that you are either fast approaching your moving day, are actively looking to move or are considering moving. Whichever of these best describes you it is never too early to start getting ready to move. The best way to start is to get decluttering. It’s easy to think that you have lots of time and everyone loves a bit of procrastination but the sooner that you start dealing with all of your excess clutter the less stressed you will be in the long run as you will have less to pack.

Get ahead

If you really can’t bear to get rid of some of your belongings but also know that you won’t need them before you move then why not take the opportunity to get ahead with your packing and pop them in a box so that they are ready to go.

Measure

Will your furniture fit in your new home? If not then paying to move it will be a waste of money and finding out now will be less stressful than finding out on moving day. If you have sentimental attachment to any particular piece then see if a family member would like to use it until you move again otherwise see it as an opportunity to start afresh in your new home.

Label it

Clearly labelling each box with its destination and contents will make it easier for the removal company (or you) to know which room to put each box in on moving day. If you unexpectedly need something before you move and have already packed it then clear labels will make it easier to find it too. The same applies when you are in your new home and need something before you have finished unpacking.

The night before

Pack yourself a bag with your important paperwork, identity documents, daily medication, toiletries, chargers and a change of clothes. You may find that you are too tired on the first evening in your new home to start unpacking so make sure that you have everything you need to be able to comfortably spend the first night in your new home in that bag.

Try to relax

Moving day can be stressful. Try to avoid putting extra pressure on yourself by setting yourself goals about what time you want to be in by as delays can happen, or how quickly you must unpack. By approaching the day with a relaxed attitude you will be much more resilient to and therefore less stressed if any hiccups occur. Just focus on how you are going to feel at the end of the day when you are settled in your lovely new home and use that feeling to help carry you through the stresses of the day.

If you are thinking of moving in Warrington and would like more advice on moving home then please do give us a call on 01925 235 338.

How To Improve Your Property's Kerb Appeal

Whether you are looking to sell your property or simply wish to make your home look more inviting to visitors the very first thing you should consider is often the one most people overlook. They are so busy thinking about their interior decor and the tidiness of their homes that they often forget that the very first thing that people see is the front of their property. If your home’s kerb appeal could do with being spruced up but you’re not sure where to start then don’t worry we have a few tips that will help you to take the front of your property from drab to fab in no time.

Front garden

If you have a front garden then ensure that the grass is neatly mown. Clear your path of weeds and use a pressure washer to make it look its best. If you have borders make sure that they are weeded and plant some nice flowers to help to make your home look visually attractive.

Front Door

If the paint is starting to peel off of your front door or the hardware like the handle or knocker are looking a bit old and unloved then visitors may get the impression that the rest of your home is uncared for too. Treat your door to a fresh coat of paint and a shiny new door handle/knocker and your door will go from creating a sense of foreboding to a welcoming entrance.

House number

Make sure that your house number is clearly visible. This will help both visitors and delivery drivers! If your house number is looking a bit old and tatty, consider replacing it with a shiny new one that reflects the care you take of your property.

Windows

Clean windows not only maximise the amount of natural light that you get inside your home but they also affect the feel of your home from the outside. Clean windows make a home look cared for and a loved home will always have more kerb appeal than a neglected one.

Exterior Lights

Many potential viewers will do a drive-by viewing before deciding whether to view the inside of your property. Due to working hours most of these will be done in the evening and most guests to your home will also visit in the evening so ensuring that your exterior lights are all working is essential to ensure that your home is bathed in welcoming light not shrouded in darkness.

Gates, fences and hedges

Check your garden gate and fence are in good condition. Oil the hinges and check the latch is in good working order. Replace broken fence panels and neatly trim any hedges.

Garage

While your visitors/viewers will not be entering your property through your garage doors they do affect the first impression that they will have of your home so make sure that they are in good condition and consider sprucing them up with a fresh coat of paint if necessary. Potential buyers will want to take a look in your garage so make sure that it is clean and tidy.


If you would like more advice on how to improve your Warrington property’s kerb appeal please don’t hesitate to give us a call on 01925 235 338 and we will be delighted to help you.

Diy Dos And Diy Don'ts!

The sun is shining and the long Summer evenings make us feel like we have plenty of time in the day. Plenty of time to get on with all of those jobs that we kept putting off during Winter! For many of us now is the best time to get out our tools and fix things that have been bothering us and upgrade our homes.

However, you should always keep in mind that any DIY you do to your property should not just create a better and more enjoyable home for yourself and your family but should also add value to your property when you decide to sell it.

You may be surprised to know that some DIY projects can actually devalue your home and DIY disasters can cost homeowners 1000s of pounds to fix.

Be realistic

We all know it’s tempting to try and save some money by doing jobs around our homes ourselves but if you are not particularly gifted at DIY then consider getting a professional in to help.

Start small

Small jobs are a great place to start building up your skills and your confidence. Start by replacing broken light bulbs, oiling creaky hinges and fixing broken kitchen cabinet handles. If small jobs are neglected in your home then it can give the impression to visitors or potential buyers that your home is not cared for and may cause them to worry that there are bigger problems that they have not noticed.

First impressions

Once you have finished all the small jobs the first thing that should get your attention is the front of your home. It is true that first impressions matter and whether you want to increase your kerb appeal in order to attract potential buyers or if you would simply like to impress your guests, the state of the front of your home is the first thing that they will see. A fresh coat of paint on your front door and a clean and tidy front path will make your home a welcoming place to visit. Not convinced? Good kerb appeal can add 2-3% to the value of your home!

Bathrooms

Beware of removing baths in favour of trendy wet rooms. These can actually devalue your home as properties without baths are less attractive to families. This will decrease the pool of people your home attracts which means less competition for your property which can lead to a lower sale price.

No DIY

If you are no good at DIY and can’t afford to hire the help of professionals then there are many things that you can do to improve your home that require no DIY skills at all. Decluttering your home can have a huge effect on the feel of your home as can a deep clean.

If you are considering a big DIY project or major renovation then do give us a call on 01925 235 338 to discuss how it will affect your property price. Not all projects will add value to your home and you should also be aware of the maximum price that properties will sell for in your area to avoid spending more than you can recoup.

What Are Tenants Responsible For?

Tenants are very used to the long list of don’ts that they are given when they first rent a property. Don’t redecorate. Don’t hang pictures. Don’t cause any damage. The list goes on.

Tenancy agreements also contain a list of must dos but, the focus on the don’ts can often overshadow them leaving tenants with the impression that as the property is very clearly not theirs, any problems to do with the property is for their landlord to sort out.

However, not all problems are the responsibility of the landlord. Some of them are for the tenant to sort out. So if you are a tenant what is it that you are responsible for?

Rent
The first thing is obvious. You must pay your rent.

Drains
The second is one that tenants often think is the responsibility of their landlord but is in fact yours. You must look after the drains. If you block them then it is your responsibility to unblock them. Most tenancy agreements stipulate that no cooking oils or fats are to be put down the drains as that will increase the likelihood of them being blocked.

Lightbulbs
Yet another thing that often catches tenants out. Tenants are responsible for replacing any blown lightbulbs. Lightbulbs are usually itemised in the check-in inventory and if when you hand the keys back you have failed to replace any blown bulbs the cost of them can be deducted from your deposit.

Garden
Tenants are responsible for handing back the garden in the state that it was in at the beginning of their tenancy. Even if you don’t use it you will still need to make sure that you look after it. Deductions can be made from your deposit if the landlord needs to hire a gardener to bring it back up to scratch at the end of your tenancy.

Bills
You are responsible for paying your utility bills unless your tenancy agreement explicitly states that these are included in your rent. Failing to pay these can not only result in large amounts of debt owing to the utility companies but can also result in the utilities to the property being cut off.

Report
If there is an issue with your property then you need to report it promptly. Most repairs are easier, quicker and cheaper to fix if they are attended to promptly. If left many issues become worse, especially if the issue is a leak as there is the potential for the water to cause a great deal of damage to the property.

Secure
It is the responsibility of the tenant to make sure that the property is kept safe and secure.

It is also your responsibility to pay to insure the contents of the property as landlord insurance does not cover the tenant’s belongings. It is not uncommon for it to be written into the tenancy agreement that you must not leave the property unoccupied for a period of more than 14 days. If you do go away for a prolonged period of time you will need to inform your landlord and insurance company.

If ever you are unsure as to whether you should report an issue or deal with it yourself please give our expert lettings team a call on 01925 235 338 and we will be happy to give you our advice.

June 2022 Market Report For Warrington

With the school summer holidays nearly upon us, many people start to think about moving home. Having family around a lot more can highlight how your current place isn’t quite working for you. You might need more space when all the kids are at home, a bigger garden for when the grandkids are at yours, or somewhere quieter when the neighbours’ kids are all home.

If you want to be moved and settled in by the next big school holiday, which is Christmas, you need to be getting on the market now. There are national delays happening in the legal sector that deals with housing. Often called conveyancers, or solicitors, these are the people that deal with all the paperwork after you’ve made or accepted an offer before the key handover, known as ‘completion’.

In 2019, the time between offer and handover was 100 days. Even that is over 3 months, just for the legal part of the transaction to take place. This has now increased by a third. Add to that the time it takes to get your property ready to go on the market, perfect the marketing, show people around, and negotiate an offer, and you can see why you need to get on with it now to be settled by Christmas.

Let’s have a brief look at what’s been happening over the last month in the local Warrington property market.

There are currently 275 properties available for sale in Warrington. This is 78 more than last month. Of these 275, 81 were new to the market in the last two weeks. The average price of properties in Warrington is £285,183 with the median price at £220,000.

Most of the properties available are in the £100,000 to £200,000 bracket with 91 currently on the market. There is just 1 property available, priced at over £1 million. In May, properties in the £500,000 to £1,000,000 bracket were selling the fastest, only on the market for an average of 33 days. They are still the fastest but the length of time has extended to 49 days. This month, properties priced between £300,000 and £400,000 are the second-fastest movers, only on the market for 51 days.

Properties priced at £100,000 and under, are now taking 356 days to sell. This is similar to one-bedroom properties with a median price of £90,000 as they are currently sitting on the market for an average of 326 days. This has gone down from 350 days last month.

This is another example of how selling property can take longer than people often imagine. If you’re looking to upsize from your first home, or are an investor looking to change their portfolio, please bear this in mind when planning.

Let’s take a look at the annual figures now. Properties around Warrington had an overall average asking price of £245,315 over the last year. Despite the media claiming house prices are falling, this figure demonstrates a 12% increase from the same time last year.

Overall, sold prices in Warrington over the last year were 6% down on the previous year and 8% up on the 2019 peak of £229,819. This doesn’t represent a crash, simply the market correcting itself, as we mentioned last month in our report. The craziness of the last couple of years is starting to settle, which is a positive thing as supply and demand should level out, with prices calming too.

The majority of sales in Warrington during the last year were semi-detached properties, selling for an average price of £242,595. Terraced properties sold for an average of £180,274, with detached properties fetching £402,967.

If you’re looking for further information about the Warrington property market, please feel free to contact us. If you’re thinking of selling or buying, letting or renting a Warrington property, please don’t hesitate to get in touch. You can call 01925 235 338 or email staff@hamletwarrington.co.uk

How To Make The Most Of A Seller's Market

Benjamin Franklin once famously said “By failing to prepare, you are preparing to fail.” This rings true for many things in life and is very relevant to the current seller’s market whether you are a seller or a buyer. So how can you ensure that you are correctly prepared in order to make the most of the current seller’s market?

Sellers
There is lots of paperwork to deal with when selling a property so instructing a solicitor early on in the process can allow you to get a headstart on the Property Information forms. It will also give your solicitor plenty of time to review your Title Deeds and identify and sort out any problems that may potentially cause a problem or delay.

You will also need to find installation certificates and guarantees for any new windows, boilers, wood burners or electrics that you may have had installed and if you have extended your property you will need to produce copies of the relevant consents.

Ensuring that all of your paperwork is in order will allow you to progress confidently and put you in an excellent position when setting a timetable for exchange.

It is wise to manage the expectations of your buyers as soon as you accept their offer. If the sale is dependent on you finding a new property then it is important that the agents convey this to the buyers. Choosing to sell your property and move into a rented property can really give you an edge in this market when looking for a property as you will be in an ideal position to proceed with a purchase but only do this if you can afford the rental and storage costs that this will incur.

Buyers
In a seller’s market buyers who are in a position to proceed swiftly are valued more highly than those who cannot. In a market where multiple offers on each property are common, anything you can do to make your offer more attractive to sellers is worth doing.

If you need a mortgage then getting an offer ‘agreed in principle’ will show the seller that, subject to valuation, you have the funds readily available.

If you can afford to sell your property and move into a rented property while house hunting you will increase your attractiveness to sellers as you are not in a chain.

Stick to your budget. Don’t allow competition with other buyers to cause you to pay too much for a property. Remember that you should consider future costs such as energy prices and council tax when choosing your property.

It is possible to instruct a solicitor even before you have made an offer. Doing so will allow you to complete the onboarding and identification processes early thus avoiding any unnecessary delays. Providing your solicitor with money on account for searches will allow them to request them as soon as they receive draft papers.

Choosing a solicitor and having them on ‘stand by’ so that you can get the survey that you would like organised quickly is another way of demonstrating to the seller that you are committed to purchasing their property.

If you are thinking of selling your property in Warrington then please give us a call on 01925 235 338 and we will be delighted to come round and give you a free no obligation valuation.

If you are looking for a property to buy in Warrington then please give us a call on 01925 235 338 and we will be delighted to add you to our database of motivated buyers so that you can be one of the first people to hear of our new listings in the Warrington.