From the family home you grew up in, to living with a bunch of strangers in halls or off of campus, and now you are about to come face to face with a whole new chapter of living. Not as a student, but as a fully-fledged graduate.
You may have already started to consider your options and how to go about making your first steps, but it always pays off to receive some extra guidance when it comes to making the next big decision in your life. Everybody’s situations are different too. So in this guide, we hope to provide a thorough breakdown for those considering solely buying, renting and for those stuck in the middle
As you approach the end of your academia, it is important to consider your spending and budgeting. Most students are blessed with a weighty student loan. If you are one of the lucky ones, allocate a small part of your time to sitting down and budgeting your remaining loan to enable yourself to put aside some of it for when you finish. This is important to do, buying or renting, as you will require a deposit for wherever you decide to move to and being strapped at the beginning of your move isn’t a position you want to be in. However, if your student loan wasn’t substantial, you can still be thrifty with your spending. It wouldn’t be unfair to sit out on a few student nights out so you can save up what you would have spent that night and also, make sure you budget your food shop by shopping at cheaper supermarkets to save extra pennies. The whole point of saving now is to make your money go as far as possible and to spend what you really need to live off. By getting into the habit of careful budgeting and regular saving now you will give yourself the best chance of staying on track and building up a sizeable savings for when you come to make your decision.
As well, getting a job, either on or off campus will help you to gain some extra money together and help boost your credit rating which will give you a head-start when it comes to applying for a mortgage, as you will need payslip evidence of a regular income to qualify for mortgage financing if you believe buying is a more suitable option for you.
The House Hunt
Buying a house is a massive commitment but an amazing opportunity to get started on the property ladder sooner rather than later if you are in the position to do so. If you are seriously considering this option make sure to do your research. It is all too easy to fall in love with properties at first glance, but don’t rush into anything without seriously weighing up some other choices. Assess the market and the area you’re interested in. If you don’t have a car, are there shops and supermarkets nearby? Are you near to a train or bus station? These are aspects which need weighing up so the property matches your lifestyle.
If you’re looking to rent instead, the same applies in the way of suitability to your wants and requirements. If you use the gym, is there one within walking distance? Is the neighbourhood what you want? Additionally, with renting you will need to make sure that the property is within your budget, so you can afford to pay additional bills which you may incur such as gas and electricity, water and TV licence.
Being a graduate, you won’t have the years of experience that your parents have in buying and selling property, so you need to research the local property prices to spot any market fluctuations and to get the best possible deal when making an offer on a property.
Remember, if an advert seems too good to be true, make sure to do some homework. Identify where any hidden costs may catch you out down the line. If you decide to buy, you may need to deal with damp or structural repairs. If this is the case, you can make a low offer that takes into account the costs of putting things right. Alternatively, if a careful and objective appraisal of a property reveals significant issues, it might be best to walk away on that occasion, to continue searching elsewhere.
As a studious graduate, you are probably aware of how difficult it is to save money for property which continues to rise at an ever growing rate. But, where there is a will, there is a way. The government offer a variety of schemes to help you on the pathway to affording your very own home. It will pay off to work out the best loans, ISAs and deals available to you so that you know exactly the ins and outs of what you are being offered and how it will work in the long-run.
One of the most popular and successful options is the government’s Help to Buy ISA. What this entails is that if you put money into this ISA once a month at a maximum of £200, the Government will boost your savings by 25%. So, for every £200 you save, you will also receive a government bonus of £50. The maximum government bonus you can receive is £3,000 if you have savings of £12,000 or more.
Additionally, you could look into the Help to Buy loan, which provides a loan of up to 20% of the purchase price of a new-build home. This loan is also interest-free for five years.
Many parents are also on hand to chip in with their children’s first home, but only consider this option if you are sure that your parents can do this without putting themselves into any financial difficulty.
Do make sure to research all of the peripheral costs of buying a property, such as stamp duty and valuation fees, as well as understanding how the process of buying a property works.
If you decide to rent for a while, give yourself this time to build up a deposit to buy in the future.
Both options need careful planning and organisation so find out what deposit you’ll need, what your monthly repayments will be, and what the other costs of owning a property are likely to be. Additionally, make sure you are clued up about renting your chosen property and the area you are looking at, so you don’t end up living somewhere you’re unhappy with.
So, to conclude, whether you end up buying or renting, make sure that your moving checklist is planned down to a ‘T’, so that your move from Uni to adulthood goes as smoothly possible.
We’ve taken sold data over the last 10 years and we’ve split this into 3 property types that are common to Burley, Leeds, to get a further insight into what is happening to property values in our area.
It’s important to note that the following data shows averages for the property types, not their size/how many bedrooms, or condition. Neither does the data account for any other features such as gardens, parking, or any refurbishment works. This average data was taken from 2007 just prior to the crash and 2017.
Flats sold in LS4
We can see from the graph below that the average pre crash sold price was just under £115,000 (from 64 recorded sales). A drop of 10% can be observed during the following 5 year period before prices began to recover. A huge spike can then be seen during the last 12 months with the price in the last 3 months of £145,000. It’s important to note however, that there was only 1 flat sold in the last quarter however meaning that this isn’t reliable enough data to conclude that prices have recovered from pre-crash levels.
Terraced houses sold in LS4
Pre-crash levels have averaged just under £130,000 (from 725 recorded sales). Prices were fairly resilient during the crash with only a £6000 loss in capital values. Seasonal highs and lows are shown by the high and low during the last 12 months. The average value currently has exceeded pre crash levels by 5%.
Semi detached houses sold in LS4
As you would expect, we can see that semi detached property values are higher than both flats and terraced properties. It’s really interesting to see that semi detached property prices didn’t decline during the crash and in fact rose during the period 2007-2012 – this is most uncommon in Leeds and shows just how popular these properties were in Burley. Then a large spike occurs during the period 2012-2016 seeing averages jump to £173,642 from £155,102. Prices then dipped a little during the winter and have started heading upwards again going into Spring 2017.
*Data taken from zoopla.co.uk
If you're looking to see how much your property in Leeds is worth now on, call us today on 0113 357 2260 and we'll be able to help you with a free and no obligation valuation for your home.
Consultation on Tenant Fees has opened
The consultation on on the proposed ban on Tenant Fees by Department for Communities and Local Government has opened on the 7th April 2017 and will remain open for eight weeks, closing on 2 June 2017.
Key points taken from the consultation:
The Government proposes to introduce legislation which will mean that:
1. No agent, landlord and any other third party will be able to charge tenants any fees, premiums or charges that meet the general definition of facilitating the granting, renewal or continuance of a tenancy; and
2. Tenants should only be required to pay their rent and a refundable deposit.
However, there are certain costs that arguably should continue to be met by the tenant:
1. Holding deposits to take the property off the market whilst reference checks are undertaken; and
2. In-tenancy property management service charges arising because of the action of the tenant – such charges could include arranging for replacement keys, repairs carried out as a result of deliberate damage or breach of the tenancy agreement, or late rent payment charges.
Agents may occasionally provide bespoke, non-standard services to tenants at the top end of the market, for example, when arranging a property for someone currently living abroad who is relocating to the UK. The Government is keen to understand whether there are premium parts of the market where a different approach to handling letting fees may be warranted.
The Government believes that robust and effective enforcement is central to the successful implementation of the ban on letting agent fees paid by tenants. The Government proposes that the ban should be enforced by local authorities, primarily Trading Standards but recognises that Trading Standards may require additional support in order to ensure that enforcement of the ban is effective. The Government is therefore keen to explore the views of the sector on a number of issues including further regulation of the sector.
The leading industry body, the Association Of Residential Letting Agents (ARLA) to which Dwell Leeds are members, described the Government’s housing policy as 'shambolic' and said that their consultation contradicts its already stated aim to encourage longer term tenancies. Independent analysis launched at ARLAPropertymark’s annual conference last week revealed that if an outright ban was introduced, rents will increase by £103 per year which will punish long term tenants financially.
David Cox, the Chief Executive of ARLA said "The decision is a short-term crowd pleaser and we are disappointed DCLG has not considered our proposals in today’s consultation. We urge the Government to use this process to think again to ensure that consumers, and the wider economy are not penalised by contradictory Government policies."
Dwell Leeds supports new Government measures on Client Money Protection
This week, Government announced that it intends to make Client Money Protection (CMP) mandatory for all letting agents. SAFEagent has campaigned for the last six years for this decision, which will protect consumers by ensuring all agents holding rent money and deposits must protect it in a CMP Scheme.
Dwell Leeds a professional letting agent with CMP in place since the business began, is delighted at the decision, but is reminding consumers that mandatory CMP is not yet law, and their finances are at risk if their chosen agent does not have client money protection.
The market is huge, with an estimated £2.7 billion* held by letting agents in client accounts, but unfortunately there are still too many cases of criminal letting agents stealing landlord and tenant cash. This is why it is crucial that consumers check their agent is part of an agent regulatory organisation which already provides CMP.
Glynis Frew, Acting Chair of the SAFEagent Steering Group, says:
“We did it! For all of those SAFEagents who have carried the banner for consumer protection – the Government has finally taken on board our call for all agents to be part of a Client Money Protection Scheme.
“It’s wonderful news that Government will make CMP mandatory, but it isn’t in place yet. That means both landlords and tenants are still at risk of losing money. It is so important that consumers understand that they need to choose their agent wisely by asking if they are part of a CMP scheme before entering into a contract with them.”
This May, 3,000 professional lettings firms will unite for SAFEagent Awareness Week 15-19 May 2017 – continuing to highlight to consumers the importance of choosing an agent who is part of a Client Money Protection (CMP) Scheme run by an agent regulatory body or trade association.
Tenants and landlords / consumers should always look for the SAFEagent logo, an easily identifiable consumer mark denoting agents subscribed to a Client Money Protection (CMP) Scheme.
Go to www.safeagents.co.uk to find a SAFEagent in your area
If you’re wondering what ‘Sales Progression’ is, then don’t worry – you’re not alone.
Much of what an Estate Agent does isn’t widely understood. To the public, an Estate Agent is just a company that lists your property for sale and shows potential buyers around your property.
But wait, there’s got to be more to it, right? .....Correct!
Finding buyers is most often not the hardest part of what an Estate Agent does, this is just the beginning; but is that is the part that is visible to the outside world.
Sales progression is the process of getting the property from the ‘Under Offer’ stage to ‘Completion’.
Let’s look under the bonnet at Sales Progression and what Estate Agents actually do and why you might want to use one.
1. ‘ Under Offer’ – once a potential Buyer (sometimes called the ‘Applicant’) puts in an offer, which is agreed by the Seller (often referred to as the ‘Vendor’), the status of the property becomes ‘Under Offer’. This is where sales progression begins for the Estate Agent.
At this point the Estate Agent will need to take the following actions:
- Establish that the Applicant is in a position to proceed with the purchase of the property. If the purchase is being funded with a mortgage, then the Estate Agent would usually ask to Applicant to produce evidence that a mortgage has been agreed in principal. This is provided by either the Applicant directly, or by the Applicant’s Mortgage Broker. A deposit would usually be required to part fund the purchase, and therefore the Estate Agent would usually ask the Applicant to provide evidence of their deposit at this stage also.
- In order to fulfil compliance requirements with regards to ‘Anti Money Laundering’ legislation, the Estate Agent will need to verify the identity of the Applicant.
- The Agent will need to gather the details of the Solicitor acting on behalf of the Applicant and the details of the Solicitor acting on behalf of the Seller.
2. At this stage the Estate Agent will send out the ‘Memorandum Of Sale’ which is a document that contains the details of the sale/purchase, and the details of all the parties involved in the transaction – the Applicant, the Applicant’s Solicitor, the Seller, and the Seller’s Solicitor. This document is then sent to each of these parties as notification that the sale process is beginning and it gives both of the Solicitors the information they need to begin the ‘Conveyance’.
3. ‘Mortgage valuation’ or a ‘Survey’. If the purchase relies on a mortgage, then the Lender will send out a Surveyor to confirm the valuation of the property. The Applicant would pay a fee for a ‘Valuation Report’ and often a fee to the Broker for their work in helping to line up a suitable mortgage. For added security and peace of mind for the Applicant, they may choose to get a more detailed survey done. A ‘Homebuyers Report’ will provide much more detail than the valuation report and will
find highlight any potential problems with the property. The most comprehensive survey that is done is a ‘Full Building Survey’ which is often beyond the scope of most residential property purchases.
4. ‘Conveyancing’. This is the term given to the legal process that takes place in transferring the title of a property through to ‘Exchange’ and ‘Completion’. This is carried out by Solicitors, not by the Agent. However it falls to the Agent to stay in touch with all parties within ‘the chain’ to ensure that things are moving along as they should be. There are several steps in a conveyance that will include the following:
- Issue of draft contracts
- Completion of protocol documents (this confirms the fittings, fixtures, contents, and inclusions that come with the sale of the property)
- Searches. This is carried out by the Applicant’s Solicitor to establish any potential issues the property might face. Several separate searches are carried out which include ‘local authority’, ‘coal mining’ ‘water’, and ‘contamination’. When the searches are complete, this often raises enquiries from the Applicant’s Solicitor which are sent to the Seller’s Solicitor for clarification. This process is often the lengthiest part of the transaction as correspondence goes back and forth between Solicitors before each party is satisfied.
4. Managing ‘the chain’. ‘The chain’ refers to the string of sales that are required to go through in order for your sale to go through. Unless the property is being purchased by a First Time Buyer, or an Investor, then there will usually be a chain. The length of the chain can vary, but the longer the chain, the more people are involved, the more variables there are and the higher the chance of there being a problem along the way. Chains of 10 aren’t unheard of – 10 buyers, 10 sellers, 20 Solicitors, and possibly 10 Brokers – that’s a lot of people to manage! A good Estate Agent manages this process. Long chains require a great deal of skill holding them together when problems arise.
5. ‘Exchange’. This is the shortened term for ‘Exchange of Contracts’. This is where the conveyance has been completed and each party have signed the legal documents to transfer the title of the property. The Applicant is often required to transfer a deposit for the purchase to their Solicitor at this point. Once exchange has happened, the sale has legally taken effect.
6. ‘Completion’. This often takes place a week after exchange to allow for the mortgage funds to be drawn down from the Lender and the exchange of funds between Solicitors. Once this has happened the Buyer will be advised to collect the keys from the Agent and the process is complete.
As you can see, there is much more to an Estate Agents role in the sale process than first meets the eye!
If you need someone to help you sell your property in Leeds, give us a call today. Our experienced and skilled team are experts in completing sales affordably, smoothly, and within convenient timescales.
Don’t make it obvious you’re not home
Nothing says ‘I’m an empty house, help yourself’ like a pile of post by the door. Before you go away, give your neighbours your spare key and ask them to pop round every now and then to collect your post. If you don’t have neighbours, or maybe wouldn't trust them with a key to your house,take advantage of the Royal Mail’s Keepsafe service. This service will hold your post for up to two months for a small charge. Be sure to cancel milk and grocery deliveries too.
Every single appliance should be switched off at the plug, except your fridge/freezer! Not only does this reduce risk of fires, will also save you money on your utility bills. While you’re at it, turn your central heating off - to avoid paying to heat an empty house.
Keep them guessing
Now you don’t have to do it Kevin McAllister style and trick any burglars into thinking you’re hosting a party, but you can purchase timer switches for your lights and set them to turn on and off at specific times, so that your house look lived in.
If you’ll be driving to the airport or your resort, see if you can find somebody to park on your drive while you’re away.
It sounds obvious, but make sure you check all doors and windows are locked before you leave. This includes garages and sheds! If you were to be burgled and your insurance provider found out your doors or windows were unlocked then they may be unwilling to pay out for a claim. Once the doors are locked, make sure keys are completely out of sight and reach of and windows or your letterbox!
Finally, leave a spare set of keys with your neighbours so that they can access your property if something was to go wrong.
If you’d like any more advice from a top Estate Agent in Leeds, please get in touch. We’d be very happy to help.
In a recent article, we discussed the challenging subject of obtaining planning permission for HMO’s in an article 4 area.
There are a number of other hurdles to consider if you are looking to invest in HMO’s. Here we will tackle another of them so you are prepared and to arm you with the knowledge that you will need.
This article will focus on the regulation requirements.
It’s no secret that HMO’s are a more complex area than typical buy-to-let and single let properties. Regulation can be broken down into different areas, for example:
- Planning requirements. See our previous article on this, entitled ‘How to get planning permission for a HMO (in an article 4 area)
- Licensing requirements (this comes into effect when you are letting to 5 or more unrelated sharers from 2 or more households. For example letting a 5 bed property room-by-room almost always falls under this area)
There are a number of resources available on the subject and many of them can be found on your local authority’s website.
Of course, it may be easier for you to find an experienced Letting Agent in Leeds that is highly knowledgeable and specialises in this area (such as Dwell Leeds!). This will save you a lot of time and make sure you don’t miss anything. Mistakes can be dangerous and very costly if you find out the hard way!
Cost to set up a HMO
This can vary. You will need to understand that there are certain requirements that you will need to meet in order for your HMO to comply with planning and licensing requirements. Each HMO is different and needs consideration on an individual level, but for the purposes of the blog we will give some general rules here on how you will need to fit out your HMO. Most of these relate to fire safety.
Small HMO’s (3-4 beds)
Although these usually require planning permission for C4 use, these properties don't require a license, therefore there is usually less to do in the property to ensure it’s compliant. However, you will need to ensure you have:
- Fire doors throughout the property
- Interlinked hardwired smoke detectors with a battery back-up
Licensable HMO’s (5+beds)
Again the exact requirements will vary depending on the property. It will also usually vary based on whether the council would classify the property as a category A or category B HMO. The different categories exist due to the intended use of the property. For example Category A is usually where all rooms are to be let to individuals that don’t come as a group and don’t know each other when they move in (AST’s on individual rooms). Category B is usually where the property is to be let to groups that come as a unit, for example students (one common AST). Category A usually has a more extensive list of requirements than Category B. Common requirements are:
- Fire doors throughout the property
- Interlinked hardwired smoke detectors with a battery back up
- Fire detection system
- Fire blanket(s) close to cooker(s)
- Emergency lighting with battery back-up
- Escape routes in case of fire
- Adequate cooking facilities
- Adequate washing facilities
- Adequate work surface space
This is not an exhaustive list and the precise spec is beyond the scope of this article.
If you are looking for more information on HMO regulation in Leeds, please get in touch and we will send you information that is relevant to you, for example Leeds City Council’s HMO guides, planning or licensing application forms, and detailed HMO specifications.
Published: 22/02/2017 Last Updated: 26/04/2017 12:22:13 Author: Story Tags: For Sale Boards
The Sale/To Let board is one of the oldest marketing tools used by Estate Agents! Even today, with the success of online marketing it is still considered one of the most important! The boards benefit your estate agent, and you, as you are likely to be keen to sell your house in a reasonable amount of time.
The boards are a symbol of a property being For Sale / To Let or Sold / Let. They get people talking, which can lead to a sale! Often homeowners are worried about their neighbours gossiping once they find out their house is on the market. However, chances are that at least one of your neighbours will have subscribed to Rightmove’s local property updates, and will have been notified as soon as you put your property on the market - board or no board!
If you live by a busy road, commuters will pass your house every day. These commuters may have no intention of buying your house, but will remember that it is on the market when talking to friends wanting to buy in the area! People talk and words spreads fast. This is a great marketing tool for your home!
The relocators! These potential buyers don’t know the area well at all, but are visiting the area to get an idea of the kinds of properties on offer. If they like the look of your property, and the area, then they might take the time to contact the agents selling your house for more information, or find you online later.
Your home may have great curb appeal. It may be a striking design, it could be double fronted, or you may have had lovely new windows fitted. Whatever the reason your property looks good from outside is another reason the board will attract attention from Buyers.
Many buyers take the time to walk or drive by a property before booking a viewing, to see if they like the look of it. If your estate agent doesn't give away the full address before a viewing, it is likely that your viewers will be looking out for your Sale / To Let board when trying to find your property.
It may not be a new tool, but it's still an extremely effective tool when it comes to selling your home.
If you’d like any more advice on selling from an Estate Agent in Leeds, please get in touch. We’d be very happy to help.
The use of online agents has increased in the last couple of years. When it comes to sell your property, you will likely be weighing up the pros and cons of selling online or the more traditional way, through a local agent.
In this article we’ll look at both approaches so that you’re well enough informed to make the best decision for you.
Online agents generally don't have local offices and have lower overheads. They state that these savings can be passed onto consumers through lower fees.
Some online agents have huge advertising budgets and you may recognise some of these brands from TV (you may have noticed that their advertising is aimed at you, the Seller, rather than the Buyer, ie. your property).
- Lower fees
- Convenience. The online agents have invested in technology which sometimes can put them ahead of the local independent agents in terms of convenience to the consumer, for example online 24/7 booking systems.
- Strong modern brand
- Good online advertising through portals
- You usually pay up front for the service. This may lead you to query how motivated your online agent is to complete your sale, after they have been paid.
- If they don’t sell the property, you usually still need to pay their fee regardless. This may lead to a lack of responsibility, commitment, and or accountability
- Lack of local knowledge. With no physical presence in your area you will need to question how well they actually know your area. This could have several implications – the obvious one being accuracy of valuation, but also it is unlikely they will have the network of local people – the buyers and sellers – who are known to them. Access to large numbers of local buyers, who are known to you, is key when selling your property. Online agents cover huge territories and naturally are unable to know your area intimately
- Lack of personal relationship or personal service. It’s not always easy to speak to the person doing the viewings on your property! Feedback is important so you need to make sure you’re receiving it effectively.
Local independent agents
- Intimate local understanding. Local agents are rooted in their community and know the area like the back of their hand. Their kids go to the local schools, their friends meet in the local pub, they bump into you in the local supermarket. Your local agent has countless relationships with the people living in your area.
- Accurate valuation. Because of such an intimate understanding of their patch they know what happens to house prices on your very street or development every month. They know what sells and what sticks and each fluctuation in price every month.
- Access to local buyers. 75% of home movers move locally. By knowing and having helped these people move in the past means a relationship has often already been formed by your local agent with your next buyer. These buyers will still be on the agents mailing list, ready to receive details of your property when it hits the market.
- Local agents are the masters of compromise. Let me give you an example - no buyer would put living on a main road on their criteria for their next home. If your home is on the main road, it’s value will often lie in the property itself, for example the size or spec, but getting people through the door could be a challenge.. Local agents have the foresight and intuition to offer the property to buyers who want to see their other properties that are close by. They would take the keys with them on another viewing and say something like this to the buyer: “I know you haven’t asked to see this next property Mrs Smith, but I have the keys and it’s just around the corner – I think you’re gonna love it…”
- No sale, no fee. Local agents usually give this guarantee, despite their up front costs – if they don't perform, you don’t pay! What could be fairer than that? The local agent only get paid as a result of their actions to sell your property. There’s no question of motivation!
- Good online marketing including the portals, print, email marketing, and social media presence
- Personality. Good local agents have this in bundles and they are able to communicate this well with their audience via their brand and presence. Is your local agents personality one that would draw the attention of a buyer to your property?
- Few points of contact. Usually you will be dealing with just 1-3 people from start to finish who you know, and are easy to get hold of when you need them.
- Shared responsibility, commitment and accountability. Every customer is important to the local independent agent and they are invested in selling your property with you. Their role is to help you move and they want to be there with you once a buyer is secured – you and the sale of your home really matters!
- Fees. We’ve put this as a pro and as a con. It’s a con since since online agents are usually cheaper. It’s a pro because UK Estate Agencies are by far the cheapest in the world. Worldwide fees are almost without fail in the region of…. wait for it….. 5%-15% of the selling price of your property! Yes, we are being serious.
- Higher fees. The average fee charged by an agent is around 1.5%+vat of the selling price, which is usually higher than an online agent. But remember, this only based on the agent actually selling your home. The reason for the difference in price is that local independents have higher overhead than their online counterparts. These higher costs include a physical premises, staff salaries, and no benefit of economies of scale for example print, marketing and advertising. Around the world fees usually range from 5%-15% to sell your property.
The choice will come down to your personal preferences and values and which type of agent is the best fit for you and your property.
Clearly online agents are becoming a good option for many people in the modern world. However we believe there will always be great value in local independent agency that can never be truly replicated or replaced.
If you're looking for first class service from an independent Estate Agent in Leeds, look no further. Give us a call today, we'd love to come and meet you to give you some advice of how to sell your property in Leeds.
Where Do Channel 5 News go when they want to discuss government's Housing Policy? Dwell Leeds of course!
We welcomed Channel 5 News to the Dwell Leeds office yesterday, 7th February. They got in touch with us to get our input on the government’s long-awaited white paper on housing, that was released on the 7th February.
Channel 5 correspondent, Peter Lane, interviewed our Moving Maestro, Dan Finder. They discussed the current plight of First Time Buyers. Dan has a unique insight on this being both an Estate Agent, and a First Time Buyer.
A section of this interview was broadcast on the national news on the 7th February. Did you manage to catch it? If not here it is on You Tube. A snippet of Dan’s interview is right at the start of the clip.
The paper aims to tackle the housing crisis and raised 29 action points for the government to get back on track towards meeting demand for homes in the UK. Amongst these included:
- A provision for longer tenancies
- Backing for institutional investment for Build To Rent schemes
- A Starter Homes initiative to tackle “unfair leasehold terms for homebuyers”
- A simplified plan making the process for developers
- Making more land available for development, except in the green belt which will continue to be heavily protected
- Improved resources for planning departments to speed up the planning process
- Backing for small and medium sized developers under a Building Fund
- Support for Housing Associations and local authorities to build more homes
- Plans to bring empty homes back into usage
There has been early criticism for the report, with some branding it “too little too late” and not far reaching enough to meet pent up demand and the government’s own targets for much needed housing.
What are your thoughts? Get in touch and let us know.
Published: 03/02/2017 Last Updated: 26/04/2017 12:25:39 Author: Story Tags: Sell My Property
If you are thinking of selling your home, it’s important to get it on the market at the right time of year to give yourself the best chance of securing a good offer.
Traditionally, spring is the peak time to sell houses, when the flowers are coming into bloom, evenings are warmer and lighter, and people have more time to view, away from the distractions that Christmas and summer holidays can bring. It also means that the move would most likely take place in the summer. This is appealing for parents, who might want to get their children settled into a new area before the next academic year starts.
If you are thinking of getting your home on the market this year, now is the ideal time to spruce it up ready for selling (see our blog on ‘staging’ the home for tips on how to do this).
If you don’t feel quite ready to sell yet, early autumn can be another good time to sell, but don’t leave it too late as you could hit the Christmas lull, when it’s cold, kids are off school, and everyone is too busy partying to think about viewing properties. The danger here is that your home could end up on the market for some time, leaving prospective buyers asking themselves, “Why is this house still on the market, what’s wrong with it?”
But what if you need to sell quickly, perhaps because you re relocating for work for example? You might not be able to choose exactly when you put the house on the market, in which case you may need to just bite the bullet and go for it anyway.
There may be some argument to say that in the winter months only the more serious property hunters are looking, so if your home is priced competitively for a quick sale and is well presented, you could still be in with a chance.
Whatever your circumstances, we can help you sell your home at a time that is convenient to you. So why not call us or drop in for an informal chat?
Published: 24/01/2017 Last Updated: 26/04/2017 12:23:44 Tags: HMO Leeds
It is important to know that HMO’s are not forbidden within the Article 4 area. But it does introduce an element of uncertainty into investing decisions.
It is also important to know that if the property has been continuously as a HMO since prior to the 10th February 2012, and this can be proven (usually via signed AST’s), then planning permission for change of use will not be required. ie the local authority accepts that the property may be operated under C4 usage without any further consent in this situation. However if the usage of the property has had any interruption in HMO usage, for example, if a family moved in since 2012 for any period of time, then this will not apply and an application for change of use as described above will still apply.
This means that HMO’s with continuous proven HMO history , or having obtained C4 through planning since 2012 may be sold at a premium. This is because the property is able to generate a higher income and yield as a HMO than C3 dwelling and therefore can justify a higher re-sale price. It grants the investor with piece of mind and security, which of course comes at a price. That said the price may well be worth paying!
Savvy investors will be thinking of the opportunities all of this raises at this point. If a clear understanding of the planning process and decision can be understood, then this can be used to their advantage. For example:
1. It is possible to buy C3 obtain C4 usage, then flip for profit, or re finance to pull further funds out later.
2. The complex nature of planning, combined with the hassle an time involved is enough to put most would be property investors off in favour of something easier. This gives rise to a less competitive field, where the juiciest fruit is left for those that know how to find it.
So how do we go about understanding whether we can get planning for our HMO’s?
The planning department will treat every case uniquely and each application is assessed on a case-by-case basis. The process takes into account a lot of variables that include:
- Concentration of HMO’s already in use in that immediate area
- Parking provisions
- Bus stops and transport links close by
- Access to local employment
- Local demographic (ie families, students etc)
- Housing shortages
- Anti social behaviour
- Would changing the use of property become and benefit or a detriment to the local area benefit ?
Clearly it’s not a straight forward decision. This is the reason the process is shrouded in uncertainty. There is no one size fits all approach. To make matters trickier, planners are notorious for keeping their cards close to their chest, providing vague responses to enquiries, and speaking in jargon. Not only that, the process takes a remarkable length of time to reach a decision and a fair amount of patience is required on behalf of the investor.
For this reason, we strongly suggest enlisting the help of a qualified Planning Consultant as a key member of your investing Power Team early on in the process. Speak to your Planning Consultant early on, and in advance of making your offer to buy the property. His evaluation will allow you to understand your chances with the likely planning decision.
You should also look for 3 exit strategies in case you do not get the planning decision you were hoping for. For example your options may look like this:
1. Obtain change of use to C4, refurb, let room-by-room, re finance, hold
2. Obtain planning to title split to 2 dwellings, refurb, let, re finance, hold
3. Refurbish, flip as C3 dwelling
You should be happy with the numbers of all of your exit strategies, should plan A not be possible.
If you are looking for a HMO or you already have one contact us today and we can show you how to get the best results.
Published: 20/01/2017 Last Updated: 20/01/2017 10:20:16 Tags: Tips To Sell Your Property
If you want to sell your house quickly for the best price possible, you need to show-case it in the right way so that others can see all the potential it has to offer as their future dream home.
If you can afford to push the boat out, some major renovations such as a new kitchen or bathroom could be a great investment, as you will recoup what you spent and lots more besides. For many though, the aim is to get the ‘wow’ factor without having to splash the cash, as many people prefer not to spend a huge amount on a property they will soon leave behind.
There are also lots of simple and cost effective measures you can take by ‘staging’ for sale:
1. It goes without saying that a good spring clean can go a long way to showing a home in its best light, but if you are not keen on household chores, you might want to pay a professional to give your home a really good deep clean.
2. A lick of paint in a light neutral colour can work wonders to freshen a place up, but take care not to make the home too much of a blank canvas - try to retain some personality.
3. Address any small issues that could make the place appear scruffy by filling in cracks in plaster, replacing lightbulbs where necessary and fixing minor maintenance problems such as loose door hinges or handles etc.
4. Get rid of any clutter that can make rooms appear untidy and cramped. Use storage boxes and pack any unused items away out of sight. Don’t go too mad though or the house might look cold and un-lived in. But simplicity is important so that viewers can appreciate the space, without being distracted by clutter.
5. One of the key things people look for in a property is lots of light, so if you have big windows with plenty of natural light make sure you mention this and show it off, by cleaning the windows inside and out, and removing any large plants, ornaments or clutter on windowsills that could block light out.
6. If your home tends to be dark in places, invest in some lamps to brighten up any dark corners. Clever use of mirrors can also help to bounce light back into the room and make it feel bigger.
7. Bathrooms and kitchens sell houses, so if yours are looking a bit tired there are a few things you can do to give them a lift without spending much. Some new fluffy towels in a coordinating colour, a bright new blind, and a good clean in all the nooks and crannies can work wonders. You could also whiten the grouting and replace the seals around the bath if you have time, as these tend to gather mould and mildew and can start to look a little manky.
8. The smell of a home can make or break a prospective purchase, so ensure that as well as looking nice your home also smells great – cigarette smoke, pets and cooking smells can put buyers off, while the smell of freshly baked bread or coffee can make a home seem more inviting.
9. Don’t forget the outside of the home too, as this is the first thing people will see. First impressions count, so paint the front door and window sills, cut the grass, clear the weeds, trim the hedges and make sure fences and gates are in good condition. You might also want to add a splash of colour by planting some pretty bedding plants or hanging baskets.
10. If you have any washing drying on radiators around the home, remember to move it out of sight before a viewing – there is nothing more off-putting than seeing somebody else’s smalls all over the place!
11. If you are showing viewers round yourself take a bit of time to consider the less obvious positives about your home beforehand and make sure you mention these. Viewers might not realise that the bathroom has underfloor heating for example, or that you have just purchased a brand new boiler, so make sure you tell them.
12. If your property is vacant whilst on the market, it’s important to ensure it’s not empty. Empty, unfurnished properties don’t spark the imagination with viewers. Furnishing and dressing the property for photos and viewings makes a huge difference. They will be able to see how the furniture fits the space and they will be able to imagine themselves living there. Always bear in mind that properties are sold on emotion, so sell the vision to them!
If you’d like any more advice on selling your home, come and talk to us, we’d be very happy to help.
Published: 14/01/2017 Last Updated: 26/04/2017 12:24:06 Tags: HMO Investing
It is no secret that the best returns available for investors in residential lettings come from Houses In Multiple Occupation (HMO’s).
This is where a traditional family property is let to a group of unrelated sharers, or is let room-by-room to individual unrelated sharers. This maximises the rent that is achievable since there are several people to split the cost, rather than one family.
Why would tenants want to do this?
• Bills are typically included in the rent, making this a really convenient way to rent
• Rents are much lower than for an entire property making this a highly affordable way to rent
• It’s a fantastic way to meet new people! Most tenants renting in HMO’s are in their 20’s and this age group love to socialise. Not only that Leeds is a magnet for employment for young people. Meeting new people is a priority for those moving to a new city. What better way to do that but to move into a house share?
Whilst we have seen investor demand increasing for HMO’s in recent years to an extent, many choose to stay away from this area. The reasons we hear for this tends to around these concerns:
• Difficulties getting planning permission, particularly in an Article 4 area
• Difficulties getting finance
• Belief there is too much regulation/a misunderstanding of regulation/no time to learn this complex area
• Too much cost to set up the property to be a HMO
• Too management intensive
• Too much wear and tear on the property
• High tenant turnover and or void periods
Whilst these are valid concerns, after years of letting and managing HMO’s as well as investing ourselves, Dwell Leeds have been able to overcome all of these areas through experience and their understanding and knowledge of the market. We have successfully eliminated all of these concerns on many projects and we’re fantastically placed to help others to do the same. This means we are able to achieve some of the highest yields out there for investors in Leeds!
Because this market remains shrouded in misunderstanding and seeming complexity, many landlords avoid it altogether which makes for a less competitive field for the investors that are “in the know”.
The informed investors also understand that the true value in HMO’s comes from outsourcing the “hard work”, time consuming, nitty gritty stuff to a professional agent that really understands this area. This frees up their time and energy so they can focus on the more important things in life. This could be income generating activities such as finding more deals, more time to spend on their career. It also enables them to spend more time on the things they love – family, or hobbies. Our investors leverage our time, systems, knowledge, experience and team. In this way they create fabulous passive incomes for themselves without any hassle. This is the path to wealth creation.
What are the returns?
This varies but generally they can be around double the return for a HMO than a single let. An average single let property in Leeds is around 5% net return, whereas the average HMO is close to a 10% net return (after all costs), although they can be higher.
Does this sound interesting to you?
In a series of upcoming blogs, I’ll address each of the typical concerns to show you how you can understand and master HMO investing.
The next blog will focus on achieving planning permission, which can be the most challenging hurdle. This can be challenging in Leeds since most of Leeds is within an Article 4 area, however it can be done. If you are not familiar with Article 4, this is a direction imposed by the local authority to restrict the use of HMO’s in a given location.
Published: 03/01/2017 Last Updated: 03/01/2017 12:27:42 Tags: HMO Licensing 2016
Government extends mandatory licensing of HMO's - announced December 2016
The government have ended a consultation on Houses In Multiple Occupation (HMO) reforms on the 12th December 2016.
The consultation came ahead of proposals to extend licensing laws to increase the volume of HMO's that will require mandatory licensing.
The results of the consultation, have confirmed the following will be passed through secondary legislation
- there will be a removal of the storey rule. Previously a HMO license was required if the property had 3 storeys or more (with 5 ore more unrelated sharers from 2 or more households). Going forwards, 2 storey semi detached properties, and flats will become licensable if let in this way to multiple non family occupants
- set a minimum room size of 6.52m squared in line with the existing overcrowding standard
Other intended consequences include:
- improved storage a and disposal facilities for this type of let
- there may be an application of the 'fit and proper person test' for HMO landlords (The Housing and Planning Act 2016)
In order to obtain a license, landlords will be required to provide a number of costly measures that will need to be taken, mostly to improve fire safety conditions, which often include the following installations:
- fire doors
- emergency lighting
- interlinked smoke detectors
- hard wired wire alarm system
- fire blankets
- additional cooking facilities
- additional washing facilities
- additional refuse facilities
It is expected that the changes will apply from early 2018. Fines for non compliance are unlimited. The measures are designed to provide safe accommodation in higher risk homes, protect tenants, and to improve standards.
The changes come after a difficult year for landlords following a raft of legislative changes relating to tax.
David Cox, Managing Director of ARLA has hit back at the proposals, raising some stark realities of the changes.
He said: “Landlord licensing doesn’t work.
“Councils already have a wide variety of powers to prosecute for poor property conditions and bad management practices, with penalties ranging from fines to seizure of property and even imprisonment.
“But councils don’t have the resources to undertake effective enforcement action. Imposing more burdens on councils will not mean improved standards and better conditions for tenants – it will merely mean more laws that are not being enforced.
“Further, we have to consider the unintended consequences of minimum room sizes.
“Some people are happy to take small rooms to keep their costs down. If these rooms are no longer available, where are people supposed to live?
“What’s more, if a small room in a property can no longer be let out, the costs of that room will be spread across the other tenants living in the property; pushing up their rents.
“A habitable room is essential but a one-size-fits-all policy doesn’t always work.”
You can read the full consultation paper here.
Here at Dwell Leeds we specialise in managing HMO's in Leeds. HMO's offer the highest returns of any residential lets to landlords. Successful HMO landlords outsource the increased management and regulation requirements to us to create a fantastic passive income. If you would like to learn more get in touch today.
Make sure that you know how to get in touch with us in the event of an emergency. Our office will be closed Friday 23rd December 2016 at 4pm, and will reopen on Tuesday 3rd January 2017 at 9am. Emails will not be monitored at this time.
In case of emergency only, out of office hours, please send us an SMS to 079 66 66 2971 with your name, address, phone number and the full details of the problem. If the issue is deemed to be an emergency, our Out of Hours Team will call you back to arrange the necessary action. Please note this number is for emergencies only and you may be charged an administration fee for incorrect use.
It is essential that heating is left on low and us not switched off.
Pipes can freeze and then burst during the cold weather and this can lead to major leaks causing much damage to property and your contents. To ensure this does not happen, we kindly request you leave your heating on low and constant over the winter months, even when your property is empty. If damage is caused due to your failure to do this, you may be liable for associated costs - so it is vital you do so.
Burst pipes and other potential problems can be prevented by ensuring that the heating remains on low during cold spells. Be sure to know how your heating system works. If you require a copy of your manuals, these are available on line (by searching the make and model) or from Dwell during office hours.
If there is any issue with your heating or hot water (boiler) not working properly, the first thing to do before calling the emergency number is to check the pressure. This should be set between 1 and 2 bar on the gauge. Pressure drops are by far the single most common problem with heating and hot water. If the pressure has dropped to around 0, you can top this up yourself by opening the value for the filing loop and increasing the pressure. Ensure you know how to do this correctly by reading the manual before attempting to do so. If you can’t find a user manual, please google the make and model number for details.
It is essential you know where to find the stopcock in the event of a plumbing emergency. Please make familiarise yourselves with the stopcock location if you do not know where it is. If there is a leak, the stopcock will need to be turned off quickly to avoid damage to the property, so it is important that you know where it is.
If you are going away over the Christmas period (or, indeed, at any time during the year), you might consider having a lighting timer system fitted. This can be an effective way of reducing the chances of burglary. Always ensure all doors and windows are locked securely too and alarms are set if provide.
Fuse box location
Ensure you now the location of your fuse box. You might also consider leaving a torch in an obvious location (for example the kitchen) in order to make sure you can find it in the event that a fuse is blown or a switch tripped.
Condensation can damage paintwork and fixtures and fittings, and can be a problem during the colder winter months. Make sure that you keep rooms properly ventilated, and that an even temperature is maintained throughout the property, in order to reduce condensation.
Under the terms of your tenancy agreement, you are required to advise us if you are leaving the property for more than 14 days. Please send us an email to let us know if you are going away for 2 weeks or more. This often affects the terms of your landlords insurance policy and may also affect your contents insurance policy.
Thank you for your assistance in maintaining your home this Christmas!
We would like to take this opportunity to wish you a Very Merry Christmas and a Happy 2017
The Team at Dwell Leeds
P.S. Why not “like” our Facebook page “Dwell Leeds” where we share some festive fun, property information and other good stuff!
Young people are facing a tough economic landscape these days. With rising house prices it can seem that as fast as you are saving for a deposit, the deposit needed to buy a decent property is increasing. For so-called ‘generation rent’ home ownership is a dream many have given up on, but whether you want to rent or buy, there are many options to consider that can help you find your dream home.
Help to buy ISA
The good news is that for those who do still have their heart set on home ownership, help to save for a deposit is available from the Government in the form of a tax-free Help to Buy ISA. This helps increase your savings by 25%, so for every £400 you save, you will receive a further £100 from the Government, up to a maximum of £12,000 savings. This means if you save the maximum amount you will receive a further £3,000 boost, and if there are two of you saving for a property, you can both take one out, which will up the Government contribution to a whopping £6,000.
If that has given you further hope that you can afford to own your own home, take a look at just a couple of properties we currently have on the market to whet your appetite.
We are currently offering a modern 2-bed apartment in the highly desirable area of Horsforth which would make a great first time buyer home and is close to the station for commuting into Leeds city centre.
If you are buying a property for the first time, it can be daunting deciding which mortgage to choose. There are literally hundreds of options available from many different lenders, and if you choose the wrong one, you could end up paying more than you need to. Most mortgages last for a 2, 3 or 5 year term, so it’s always a good idea to seek advice from an independent financial adviser before you commit to anything.
A fixed rate mortgage is the simplest type, and it does exactly what it says on the tin – the rate you pay each month is fixed for the duration of the mortgage term, meaning you can manage your monthly household budget knowing exactly what you will need to pay.
A variable rate mortgage can vary depending on interest rates. With a tracker mortgage, this tracks the Bank of England base rate, then adds a small percentage of interest on. With a discounted mortgage, the interest is set by the lender, and then a discount applied. Current low interest rates can help make your monthly payments more manageable, but remember that if you go for a variable rate, those costs could increase at any time, so make sure you can afford to take the extra hit if interest rates do rise.
If your career is taking off, you might not want to commit to staying in one property or area. Many people are happy to move around the country to take advantage of where the best jobs are. If this sounds like you, you might decide you are better off renting for the time being. Renting offers many benefits including the freedom to move around more easily. In this case, the best advice is to be aware of unscrupulous landlords, by using a reputable lettings agency.
Why use a Letting Agent when renting?
Renting via a Letting Agent gives you the benefit of knowing that if any issues arise, such as maintenance problems, someone is on hand to address these quickly. We advise you to check that the Letting Agent is ARLA registered. This is important because ARLA agents have chosen to be regulated, understand tenant and landlord law, and follow a strict code of professional conduct. This means you will receive a professional service at all times.
Letting Agents also have the local knowledge to help you find the right property for you and avoid any dodgy areas, and can act as a middle man to help mediate between you and the landlord if any disputes arise.
If you are a young person renting for the first time, it can be difficult to demonstrate your ability to pay the rent, so you may be asked for somebody to act as a guarantor. This person will promise to cover the rent if for any reason you are unable to meet the payments. If you have just landed your first job, or if you are still studying, this could be a great way to overcome any barriers to renting your first home.
Whether you are looking to rent or buy, or even if you are still unsure, talk to us today - we can help you on your way to finding the right home for you.
It’s not just the likes of Gordon Ramsay, Nigella Lawson and Jamie Oliver who love spending time in the kitchen.
During the years I’ve been an estate agent I’ve seen plenty of prospective buyers fall head over heels with a home after laying eyes on a well-designed, stylish kitchen.
If a kitchen has the wow factor buyers often develop the ‘we want it now factor’.
Think about it though for a minute. We spend a lot of time in our kitchens, especially if it is spacious enough to include a breakfast /dining area.
It’s often where we start the day, where families socialise and of course it’s a great spot to hang out at a party. It’s been said that life is often created in bedrooms but lived out in kitchens.
We’re often asked by vendors what’s the most important room from a buyer’s perspective. In my experience I’d have to say it’s usually the kitchen.
If you are going to spend money getting your home ready to market think carefully about how your kitchen looks, feels and if it needs upgrading.
Whatever property questions you might have please don’t hesitate to ask for our expert and always honest opinion.
Thanks for reading.
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on 0113 3572260 or email firstname.lastname@example.org for honest, expert and friendly advice.
Recently in our office had a chain with 6 properties involved.
That’s 6 buyers, 6 surveyors, 6 solicitors and countless chances for the deals to fall flat.
We got that deal over the line pretty smoothly with our vendor even saying they felt it wouldn’t have gone through without us.
How did we do it? Well, a good estate agent will have all the names and contact details of everyone involved in the chain.
Then it’s all about keeping on top of things, regularly chasing solicitors or surveyors, speaking with mortgage companies and liaising with clients. Daily if needs be.
At Dwell Leeds we a have panels of mortgage brokers, surveyors, solicitors we recommend. Not because we get anything out of it but we know without a doubt that they are all honest, efficient, pro active and professional.
We do everything we can to make a chain run as stress free as possible. It’s usually a lot of hard work but that’s just one of the reasons why we’re regarded so highly by clients we’ve worked for and with.
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on 0113 357 2260 or email: email@example.com for honest, expert and friendly advice.
Would you like to build assets and a passive income from the comfort of your desk or even whilst sitting on the sofa with your feet up?
By registering your details with us we will add you to our Investor list. We have a team of property sourcers, marketing boffins, and property experts scouring on and off market deals for great investments for you. Forging strong relationships with Agents and Vendors, we are building a pipeline of high yielding property investments for you.
The great news is that it's completely FREE to register for updates!
Just enter your details HERE and then one of our team will CALL YOU BACK to learn more about your requirements and how we can assist you with your next investment.
What are you waiting for?
Dwell Leeds are celebrating their new website, which was published in June 2016.
The new site brings an updated look and feel to their brand, and features many improvements for users.
The site has a modern and fresh look and is easy to navigate. Whether you are a tenant, landlord, investor, seller, or buyer, there is some great information relevant to you, found easily within an intuitive menu.
There a number of Area Guides on the site designed to assist those looking to learn more about Leeds’ suburbs, perhaps ahead of moving to the area.
Other new additions include an invitation to “Meet The Team” where you can get to know the people behind the Agency and the Dwell Leeds Blog returns by popular demand.
“We’re delighted to launch the long awaited new site which really show cases what we do and how we are different to our competitors” commented ‘Head Honcho’, Jon Graham.
“Our new site also introduces a new Sourcing service which is aimed at property investors looking to grow their portfolios. This great new service enables investors and landlords in Leeds to be introduced to great property deals, whilst benefitting from our experience, knowledge, and team, to grow their assets and build passive income."
"Uniquely in Leeds, our end-to-end system means that we can expertly deal with every stage of their property investment – Sourcing, Refurbishing (adding value), Letting, Managing, and Selling. We invite anyone interested in property in Leeds to get in touch so that we can show them how we can help” said Jon.
If you would like to take a look at the website yourself you’ll find it at www.dwell-leeds.com
It could be housing a vast collection of luggage, boxes of ‘stuff’ that’s bound to come in ‘handy’ one day or it could be home to your collection of books you bought before the Kindle/iPad / E reader revolution.
Whatever you use it for you need to give it some serious thought if you are thinking of selling.
By spending a bit of time, and in some cases a little bit of money, you’ll get the most out of the spare room and can make it really attractive to potential buyers.
Some transformations which are affordable, easy to do and enhance your home’s appeal include:
Create a guest room. Even if it’s just a box room get a single bed, some nice linen and a smart bedside cabinet with a lamp and hey presto you’ve created a space which opens up possibilities in the minds of the viewers.
Turn the room into a home office. More and more people are working from home or like to have it as an option. A desk, office chair and some shelving turn your ‘junk room’ into a valued and desirable ‘think tank’ and home study.
Make the space a hobby room. This will shows viewers that your home offers them the space to live out their interests and ticks a big box on many people’s property wish lists.
Create a toy room. If you have children give them their own space and keep other areas of the house free from the clutter of toys. Just remember to keep on top of keeping it tidy when viewings are arranged.
Whatever you decide to do with that extra room, remember available space is a big selling point your home needs to utilise.
Once you’ve given your spare room a personality, what can you do with all that stuff that was housed in there?
Easy, even if you don’t have a loft or garage, look at renting a small self storage unit while your property is on the market.
If you have any questions about this, or any other property related subject please don’t hesitate to contact us.
At Dwell Leeds we really are here to help.
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Sam and our team on 0113 357 2260 or email: firstname.lastname@example.org for honest, expert and friendly advice.
Imagine you hired a professional photographer to come and capture on film a special event you were holding and he or she turns up with a smartphone and starts clicking away.
I guess you’d be horrified, I know I would be.
When you employ a professional you expect a certain level of service.
In the photographer’s case you’d quite rightly demand they have the right equipment, and supply you with a range of photos to choose from and stick around for as long as the occasion demanded.
When it comes to special family events such as weddings, birthdays or christenings photos are incredibly important and not an area you’d want to skimp on.
It is exactly the same with property photography. The photos are THE most important tool for marketing the property online and indeed offline.
The cost of poor photography can cost you thousands of pounds when you sell your house. When we are given an instruction to sell a property we do not cut corners.
At Dwell Leeds we use professional grade equipment and train our staff to ensure each photo shows your home in its very best light.
We take the time to make sure every shot looks good so you won’t see coats over chairs, toys in the middle of the front room or even a wheelbarrow in the middle of the front path.
We’ve often revisited a property when the sun is out to take exterior shots as this often makes the pictures far more appealing. Everyone loves a blue sky backdrop.
It’s this attention to detail which help make up the big picture (pun intended, sorry) and ensure your property is shown in all its glory.
Thanks for reading.
Want to get a SOLD or LET sign outside your property quicker? Call Sam and our team on 0113 3572260 or email: email@example.com for honest, expert and friendly advice.
We are equally proud of keeping a focussed eye on any changes to laws and legislation which may affect our clients.
One such change has been the recent Government decision, which will come into effect on April 1, 2018, to require private rental properties to meet a minimum level of energy efficiency.
The move relates to Energy Performance Certificates (EPC). In layperson’s terms, EPCs rate the energy efficiency of a property from A to G (A being the most energy efficient).
They also contain recommendations on where you could make improvements.
The government plan is to ensure all EPC rated properties on the rental market are a least an E. This means it will be unlawful to rent out properties with an F or G rating.
I’ve already had several discussions with landlords about what this will mean for them. One thing is certain people purchasing buy to let properties will need to factor in any extra costs this change could bring.
The costs could be big enough to scupper any deal so be warned.
If you have a Buy to Let property or are thinking of investing in one please give us a call and we can explain more about the proposed changes.
Thanks for reading.
Want to get a SOLD or LET sign outside your property quicker? Call our team on 0113 3572260 or email: firstname.lastname@example.org for honest, expert and friendly advice.
Whenever I read or hear a story about a ‘dodgy’ estate agent my heart genuinely sinks.
The damage these rogue agents do to the industry’s reputation is appalling and makes it much harder for the vast majority of honest, hard working and professional agents to win the public’s trust.
One sharp practice is ghost gazumping. It’s when a seller agrees a fee with a buyer then a few weeks later raises the price saying they’ve received an offer from another very interested party.
When this higher offer comes in just before completion the prospective buyer is faced with coming up with thousands of pounds more or suffering the agony of losing their ideal home.
That kind of practice is bad enough but often the last minute mystery bidder doesn’t even exist. Some unscrupulous agents are involved in this web of deceit and it sickens me.
If you ever come across this practice please report it to The Property Ombudsman.
At Dwell Leeds I can hand on heart promise you we never, ever get involved in these kinds of immoral and dishonest practices.
I remember reading about an example of ghost gazumping in 2008.
A seller, who was a property developer, had agreed a price on a refurbished home with a young family. It was their dream place and they couldn’t wait to move in.
Then the seller took advice from his agent suggesting he could up the price as the property market had risen since their offer.
The seller agreed and said someone had come in with an offer of £10,000 more (no one had) and that he needed them to beat this offer. No doubt he and the agent were banking on the family’s desire for this home.
To cut a long story short the family, as heartbroken as they were, couldn’t raise the extra money and out of principle pulled out of the deal.
Now for the bit that makes me believe in property karma. Just two weeks after the buyers pulled out the credit crash hit wreaking havoc in the housing market. Almost overnight the market dried up like the Sahara.
The greedy seller in question was left with a property he couldn’t sell. Prices in his area tumbled as buyers simply wouldn’t or couldn’t make offers.
With a desperate bank banging down his door calling in the loan he had taken out on the property he was left with no option but to sell for a very low price simply to cut his losses.
In the end he lost more than £150,000 simply by trying to wring out an extra £10,000 from a young family. Good I hear you cry and I agree.
The unscrupulous agent also missed out on the commission and tarnished their reputation (and unfortunately the industry’s).
At Dwell Leeds we always act with integrity and advise honestly so you won’t have to fear ghosts or prices that go and jump in the night.
Thanks for reading.
Want to get a SOLD or LET sign outside your property quicker? Call Dwell Leeds and our team on 0113 3572260 or email: email@example.com for honest, expert and friendly advice.
Put simply most people love being outside when the better weather arrives.
When spring takes centre stage, people tend to feel happier and serious buyers get out and about in droves.
However, some people who prepare their home for sale either fail to ensure their garden looks as attractive as possible.
At Dwell Leeds we have many prospective buyers giving us their property wish list. A garden is very often on those lists.
In some cases people are even more specific and state their new home MUST have a south or west facing garden so they can soak up the most hours of sunshine.
A good garden can be a huge plus point for buyers, especially those with young children or planning a family.
You don’t have to be Alan Titchmarsh or Monty Don to make it more appealing. At the very least you should make sure it is tidy, clutter free and colourful if possible.
A trip to the garden centre should provide a lot of ideas about how you can breathe new life into your garden.
So don’t just think outside of the box when getting your property prepared to sale – think outside of your home.
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Dwell Leeds and our team on 0113 3572260 or email: firstname.lastname@example.org for honest, expert and friendly advice.
A footballer being sent off for an early shower doesn’t have the same ring to it does it? (Have you seen the baths in the dressing rooms at Wembley Stadium? Seriously, you could actually swim in them.)
Having a soak in a hot shower doesn’t sound quite as appealing as relaxing in the tub.
However, we’re seeing more and more properties without baths. The most common reason for this is to create extra space.
If you have a big bathroom and a capable builder often, with a bit of creativity, you can turn the space into two rooms – a bathroom and box/study room – by installing a shower and removing the bath.
Having a bath is often seen as a luxury in our increasingly hectic lifestyles. Does having one or not affect a property’s value? Not really.
Some people will insist on having a bath especially if they have young children but a lot of our buyers don’t seem to have a strong preference.
For me, having a bath after a long, busy day is fantastic. Now where did I leave the bath salts?
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on 0113 2572260 or email: email@example.com for honest, expert and friendly advice.
This means we have walked a mile in our clients’ shoes and can see our business from their perspective.
We were discussing this in our office this week. One of the biggest frustrations we had with our individual dealings with estate agents was how hard it was to speak with them. Basic stuff, but very important when you’re making what will probably be the biggest purchase/sale of your life.
I remember when I was in the process of buying my first home and leaving messages for the agent to call me but only getting a response two or three days later.
It was one of the things we vowed to do differently when we started Dwell Leeds.
That’s why we include our mobile numbers on our business cards. That’s also why we operate an ‘out of hours’ service where if a client wants to contact us after usual office hours they can.
In the age of the internet we could have gone down the route of being an online only estate agency, having a virtual office somewhere and doing the majority of our work over the phone or via email.
But from our own buying and selling experience we all agreed that having offices in prominent local locations would help us deliver even better client service.
We get lots of people popping into our office to discuss how their sale is progressing or to book a valuation. For me that face to face interaction is incredibly important.
When you instruct an agent to work on your behalf you want there to be trust and rapport. We believe the best way to achieve that is by meeting with and talking to people about their needs.
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on 0113 3572260 or email: firstname.lastname@example.org for honest, expert and friendly advice.
Home buyers nowadays make even quicker snap judgments than they did a decade ago.
We constantly find that buyers want properties that not only appeal to their eyes but also their noses.
I’m sure you’ve read or heard about how properties where the smell of coffee brewing or freshly baked bread makes viewers swoon.
However, in the real world it’s highly unlikely that you’ll have an endless stream of homemade loaves in the oven or a constant cafetiere on the go – unless you’re selling a coffee shop of course.
Realistically the best way to create an instant positive impact on once someone’s sense of smell when they have stepped through your front door is a combination or ALL of the following:
- Fresh flowers – not only look good they smell good
- Freshly painted walls – always a good investment when preparing a property for sale.
- Clean crisp bed sheets and don’t forget there are some fantastically subtle plug-in air fresheners are on the market now.
The smells to avoid like an overflowing fish bin on the hottest day of the year include:
- Stale tobacco.
- Food caddies which are full of old food in the kitchen
- Cheap and nasty air fresheners.
- Old cat litter, damp dog blankets and any other animal related smells.
Put simply nice smells sell while stale air fails.
Thanks for reading,
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on 0113 3572260 or email: email@example.com for honest, expert and friendly advice.
There is no way any agent doing their job properly can charge £500 and make money. They would have to cut more corners than a Grand Prix driver in several key areas just to break even or reduce their losses.
For a property to achieve its best price in the shortest possible period of time it needs to be well marketed.
Online portals aren’t cheap, neither are professionally designed marketing materials. However, the area where the vendor can get really short-changed by a ‘cheap’ fee is the level of personal service they receive.
When an agency bases its business on charging rock bottom fees there’s no way they can attract the best level of staff because good people won’t work for low wages. The saying ‘if you pay peanuts you get monkeys’ springs to mind.
Remember selling your home is probably one of the single biggest transactions you will make in your life.
You want to get the best possible price for your property. The difference between a quick sale and a good sale could be tens (even hundreds) of thousands of pounds.
At Dwell Leeds we’re flexible on our commission fees to a point. We’re not a ‘pile them high, sell them cheap’ agency but we do understand it’s a competitive market and we always aim to be competitive.
But one thing we never compromise on is our commitment to looking after your property needs as best we can.
Thanks for reading
Want to get a SOLD or LET sign outside your property quicker? Call Jon and our team on0113 357 2260 or email firstname.lastname@example.org for honest, expert and friendly advice.
Leeds is a dynamic and exciting place to live but if you’re looking for your first home in the city, choosing the best area to live can prove to be a little daunting!
Here at Dwell our portfolio of professional lets in Leeds covers a wide range of areas so we thought we’d offer an insight into just some of the best places to live for Leeds-newbies. Our next post will give more ideas on great places to live in Leeds for professional tenants.
Leeds City Centre
Living in the centre of Leeds is an obvious choice for professionals and is the ideal location for anyone who works in the city centre. Including a wide range of stylish options for city-centre living, our property portfolio covers stunning executive apartments and well-designed flats.
Leeds city centre boasts some of the best shopping opportunities outside London, alongside countless restaurants, bars and cafes. Leeds now enjoys a reputation for its distinctive cultural scene, thanks to the city’s wide range of museums, art galleries, theatres and music venues. If you like nothing more than being right at the heart of the action and within easy reach of the office, Leeds city centre will be right up your street!
Just north of the city centre, Headingley has become a firm favourite with young professionals and students alike. Offering an unbeatable selection of gorgeous period properties, many of which have been converted into elegant flats, Headingley’s tree-lined streets are within easy reach of the city centre.
Living in Headingly doesn’t mean that you’ll have to head into the city centre for entertainment though as this diverse area of Leeds boasts a great selection of independent shops, cafes, bars, restaurants and several cinemas. The perfect location for anyone who likes to maintain a hip and happening social life, we think Headingley is pretty hard to beat.
Whether you’re a young professional or a busy working family, we think you’ll find that Chapel Allerton ticks all the right boxes. This area of Leeds has a really relaxed feel to it, thanks to its mixture of stylish independent shops, laid-back cafes and bars. Properties in Chapel Allerton are as diverse as the area itself and include everything from spacious detached Victorian homes, through to contemporary new build apartments.
Chapel Allerton is within easy reach of Leeds city centre and because of its location to the north east, also makes a great place to live if you need to commute to towns such as Harrogate and Wetherby.
Cookridge offers the best of both worlds: a tranquil, leafy suburb, this lovely area of Leeds offers a great range of local amenities whilst being within easy commuting distance of the city centre.
Cookridge has its very own ‘village centre’ and thanks to its location in-between the areas of Headingley and Horsforth, a wide selection of shops, cafes, pubs and restaurants are within easy reach. Golf enthusiasts will appreciate the 18 hole course at Cookridge Hall but if golf isn’t your thing, Cookridge Hall also has a fantastic fitness centre and gym.
Cookridge offers a diverse choice of housing, ranging from spacious detached properties through to stylish flats. A superb location for professionals who want to live within easy reach of the office, Cookridge has a real cosy village feel; perfect for getting away from it all at the weekends and after work.
If you’re looking for a professional let in Leeds we hope this insight will help! This article covers just a few of the residential areas Leeds has to offer. Here at Dwell Leeds we’re specialists in helping professionals find their ideal home in Leeds and if you would like advice on the best area for you, please don’t hesitate to get in touch. Don't forget to come back in a few weeks time for more suggestions on great locations for professional lets in Leeds.
To learn more about the best areas for professional lets in Leeds, check out our area guides by clicking on the links in the footers.
Although renting has become a way of life for many young professionals, for many it’s not a situation they want to be in. However it does mean that for anyone considering investing in a rental property in the Leeds area, the chances of finding tenants are higher than ever, making buy-to-let a cost-effective option once again.
Savers are finding that the returns on their accounts are pretty dismal; making the figures for investing in buy-to-let looks increasingly appealing. The demand for rental properties among young professionals unable to make that first step onto the housing ladders is rising with many having to rent during their 20s, 30s and even beyond. The average first-time buyer is now in their thirties with the age of those buying their first property without financial help being older.
Countrywide, the UK’s biggest lettings agency, released figures this week which show that the average rent in England, Scotland and Wales has risen for six months in a row, hitting the £842 mark last month. This is a 0.8 per cent increase year-on-year.
Whilst average yields (the annual rent as a percentage of the price paid for a property) are a very healthy 6.2 per cent, it is still essential to make sensible choices when it comes to choosing a property and tenants. Although young professionals are often seen as reliable tenants, it is very important adequate identity, credit and reference checks are carried out before the keys are handed over.
Remember that location is key to any successful buy-to-let investment. Rental properties in Leeds near stations tend to be snapped up and we find that properties within walking distance of Burley Park or Horsforth stations, for example, are always popular. It’s also worth considering how close a property is to local amenities such as restaurants or a gym.
Investing in a buy-to-let property in a university city such as Leeds can prove a wise investment as many young professionals settle in the city in which they studied, with many gravitating away from ‘traditional’ student areas such as Headingley or Hyde Park to Leeds city centre and the leafy suburbs of Roundhay, Chapel Allerton or Cookridge.
One final piece of advice: if you’re considering investing in buy-to-let, don’t discount a property that you wouldn’t want to live in yourself! Remember that the let-ability of a property often boils down to location and that many young professionals simply want to be within easy reach of transport to work or a couple of decent places to eat out!