As we wave farewell to a year that has, by all sorts of measures, been pretty momentous, and usher in the third decade of the millennia, it’s time to start thinking about that house move in 2020 you’ve been planning.
One of the mistakes people can make when it comes to trading up (or maybe down, depending on your circumstances) is failing to plan properly and put arrangements in place that will ease the buying, selling and moving process when the time comes.
Spring is traditionally the time when many people choose to put their property on the market with the aim of being in their new home during early to mid-summer.
But your chances of selling quickly and moving in your ideal timescale can be helped if you make sure you’ve got everything sorted out well in advance.
Here are 5 things you should think about doing in order to maximise your chances of getting the right price for your current home, being an attractive potential buyer and making a move in 2020 quickly once contracts have been exchanged.
Talk to a professional mortgage advisor
A professional adviser can work with you to identify the best mortgage to suit your needs and personal and financial circumstances. He or she will also talk you through the information you’ll need to supply in order to make your application and have the best chance of it being accepted.
Getting that information together early is less stressful and much easier than scrabbling around at the last moment and rushing a mortgage application while the clock is ticking on a purchase you’ve agreed.
Even if you’re not planning on moving for a few months, having everything in one place so you can lay your hands on it easily is a good strategy for success.
Get a mortgage offer in principle, ideally BEFORE you start house hunting
If you know what you’re after and you’re confident you’ll find what you’re looking for quickly, then having a mortgage offer in principle before you start your search is a good strategy.
But bear in mind that mortgage offers – whether in principle or not – are time-limited (for how long depends on your prospective lender), so make sure you apply for your mortgage at the right time. Your professional mortgage adviser can help you to make the decision about when you should start the application process.
At Oportfolio, we also fill out and manage your application on your behalf, making sure that everything that should be on the form is there and improving your chances of having it accepted (we find this also helps to reduce the stress for you!)
Having the money in place to buy your new home makes you a much more attractive buyer than someone who hasn’t. It shows the selling agent and the seller that you’re serious about your move and that your offer is likely to turn into a sale.
Get your own home market ready
Declutter, decorate and repair.
Remember that your own personal tastes are not always going to be shared, so aim for neutral tones to present your home as a comfortable place to live – but with enough of a blank canvas to allow would-be buyers to see the potential your property offers.
Take time and spend a little money to make obvious cosmetic repairs. Peeling wallpaper or paint or broken tiles hinder the selling process. So a bit of inexpensive cosmetic TLC can go a long way in helping your property to catch the eye.
Tidy the garden and remove anything that might be an eyesore. Inside, get rid of clutter as much as you can.
Think carefully before investing money you won’t recoup. A new kitchen may look impressive, but unless you’re going to get back what you’ve spent or it’s going to be the difference between selling quickly to get your dream home or not, it may not be worth it.
Identify a solicitor, surveyor and removal company
Moving requires the advice and support of other professionals, so even though you may not be ready to appoint them yet, do your research and choose your suppliers in advance to save time once you’ve had an offer accepted.
Once you’ve identified the property you want to buy and your offer has been formally accepted, instruct your solicitor and book the survey with your surveyor.
As soon as you have a confirmed moving date, boom your removals company. Some companies will let you make a provisional booking – so if you get a provisional moving date, this might also be an option.
Once you’re sure the purchase will go through, sit back and relax
Early preparation means less stress throughout the process, giving you fewer sleepless nights and a lot more time to check off your to-do list. And what that means is that you can then look forward to your move at every stage, knowing everything is in place.
If you’d like to speak to us about a move in 2020, why not get in touch and have an informal conversation with a member of our friendly team?
Oportfolio Limited is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority
Your property may be repossessed if you do not keep up repayments on your mortgage.
Oportfolio Ltd fees are payable on application. We charge a broker fee for property purchases of £495 and a remortgage/further advance fee of £395. Our product transfer fee is £295.