Durden & Hunt's latest Newsletter

Think about first impressions when selling your home

When it comes to selling a property, every sale starts with the same first step: deciding to sell.

Click here to read Think about first impressions when selling your home .

Energy-efficient homes are in big demand - Here’s how you can improve yours

Unlike many other things in your life, when it comes to your home, there is a lot you can do to save on energy costs. Food costs are spiralling, and while you can grow some things, it’s most likely you can’t grow all you want. The price of cars has also gone up, as have the prices of many other consumables and raw materials, and yet again, there is not much you can do about it.

Many of us lament the cost-of-living crisis and feel helpless in the face of such adversity. So here are some quick fixes and big improvements you can undertake to increase the energy efficiency of your home while at the same time adding to its value.

Quick fixes

Install a smart meter: this can be supplied by your energy provider, so you can see exactly how much energy you use.
Loft insulation: this is a simple way to keep heat from escaping your home and can save you a lot of money on heating bills. It is something you could do yourself with the right protective equipment, but don’t fall through the roof! Perhaps you don’t feel up to it after all? Don’t worry; there are many specialists who can do this for you.
Collect rainwater for the garden: by collecting rainwater in your garden in a butt, a barrel or an all-singing, all-dancing water tank complete with a pump. Whichever you choose, you are making your garden greener by harvesting rainwater!
Low-flow showerhead: you can buy one of these for less than £20 and install it in minutes by simply unscrewing your old showerhead and replacing it. Being more efficient could mean you use your boiler a little less, too.
Energy-efficient light bulbs: they might be a little more expensive, but they will save up to 80% on energy use and last up to ten years!

Big improvements

Install a new boiler: improve your energy performance certificate with a new boiler. Having an old boiler will put buyers off, and the value of your home will increase sufficiently to cover the costs of a new boiler.
Air source heat pump: with government grants making this option more affordable, heat pumps are becoming more popular. British Gas offers a complete fitting service.
Triple-glazed windows: this will improve your home's energy rating further. Your home loses a lot of energy as heat escapes through the windows. When they are clean, windows allow a lot of heat from the sun to enter. Triple-glazed windows trap that heat more efficiently, saving you money on the energy you use to heat your home.
Photovoltaic solar panels: as solar panels become more popular, we are all becoming more aware of them. Less well-known are photovoltaic solar panels, which work even when it’s cloudy—perfect for the UK! Did you know you could sell the electricity they generate back to your local energy supplier, potentially making them pay for themselves?
Hot water solar panels: placed on the roof like traditional solar panels, they heat the water for your shower, bath, and kitchen sink!
Install a wind turbine: we see them dotted all over the countryside, but perhaps surprisingly, you can buy smaller versions for your home that will create enough electricity to run your entire home.

Find a good deal

Many of these quick fixes and bigger home improvements are eligible for government assistance depending on different criteria, and there are some good deals to be had with energy suppliers and local businesses, so it’s always worth a look online to check out the latest deals.

Looking to move to a more energy-efficient home? Want to know how much value you have added by improving the energy efficiency of your home? Book a valuation.

Are you hunting for your forever home this spring?

Spring is a great time to go house hunting! Houses will always look more inspiring in the sunshine and it can be fun to explore homes without navigating the cold and wet or after being cooped up all winter. You also get to see your potential home in its true light.

Finding your forever home takes time!

You could be lucky and cast eyes upon your forever home instantly, almost like love at first sight. Chances are, even if you fall in love with a home on first viewing, it might not tick all your boxes straight away. After all, forever is a long time so don’t get disheartened if at first you don’t succeed.

The market

Right now, the market is in a stable condition. With the housing market being calmer, there is more choice and reasonable pricing so it might be worth expanding your criteria and requirements to see what you might find.

Explore

Don’t just go on viewings; explore the interesting aspects of the home with an open mind. You could always brief our team on your requirements as who knows what we may find for you. After all, we are expert property hunters.

Location

This is essential when considering a potential forever home and so consider the long, short, and medium-term needs of all in the household. From schools and work, to the proximity of transport and open spaces. The story of your forever home may change as time goes on, such as needing a practical work-from-home space to requiring an extension in later years!

Scope for improvements and extensions

From the interior to the electrical appliances to the general condition of the building, you should consider things from a long-term perspective. Will you be happy with the aspect of the rooms? Will you want to make major alterations? Perhaps you have a vision of open-plan, eco-friendly living. A forever home is a long-term investment.

Get in touch to see how we can help in your search for your forever home.

The right time for first-time buyers?

Taking your first steps on the property ladder can seem quite daunting and with market news constantly changing it can be hard to know where to start. Here are a few reasons why now could be the right time to become a first-time buyer in the UK.

Mortgage guarantee scheme

This government-backed scheme was launched all the way back in April 2021 and has recently been extended to December 31, 2023. It could present a perfect opportunity for anyone looking to buy their first home with a 5% deposit.

House prices can be confusing!

There is so much mixed information out there, it can be unsettling. The average UK house price in February was recorded at around £285,476.* This is a monthly increase of 1.1%, a quarterly change of -2.5%, and an annual change of +2.1%. So it's no wonder it can cause confusion. When it comes to the news and statistics, particularly national average statistics, it’s important to take them with a pinch of salt. Overall, house prices are still adjusting after the pandemic, and the market has slowed a little. This creates more opportunities for you at a good price.

You are an attractive option as you have no chain

By having no home to sell you will likely be starting the chain of property moves, which can help speed up the selling process and is therefore a great position to be in.

House price growth

A property purchase should be considered a long-term investment as it tends to go up in value with time. Analysts predict house prices will ascend again in 2024.

Interest rates

Interest rates are currently being recorded as higher than perhaps a few years ago however many analysts suggest they will never return to the ultra-low rates of years gone by. That said, they do appear to be falling again. Therefore, relatively speaking, they are at a reasonable rate, and even if the base rate rises, mortgage rates are expected to remain constant. If you are unsure of what you might be able to borrow let us put you in touch with one of our mortgage advisors for a free, no-obligation chat.

The sooner you start, the sooner you pay off your mortgage

It’s all very well waiting to see what happens or to see if house prices fall, but the money you spend renting could be going towards your mortgage.

Now could be the perfect time to take your first steps on the property ladder. Get in touch to see how we can help you today.

Halifax*
Zoopla**

Don’t put all your property investment eggs in one basket!

For landlords the rental market can offer long-term demand and, particularly with people seemingly renting for longer, now can be a great time to invest in property. Here are a few reasons why now might be the time to become a landlord or diversify your property portfolio.

Increasing rents

The buy-to-let market can be highly lucrative and offer great returns on investment. Average rents increased in the 12 months leading up to December 2022 by 12.1%.*

Supply is short

The shortfall in the supply of rental properties remains and is anticipated to continue for years to come. Simply put, there are far more tenants than available properties.

The trend toward smaller homes

Smaller, more affordable homes are in demand. Flats and more modestly sized homes are appealing simply because they are cheaper to run. Tenants are a little more cost-conscious with the challenges of the cost-of-living crisis.

Bigger can be smaller!

Developing larger properties and then letting them out room by room, in suitable areas, could be a great way to spread the risk of your property investment. Converting terrace homes into flats can double your rental income while helping to alleviate the chronic shortage of affordable homes.

Funding efficiency

Investing in multiple properties, over one large home, could be a shrewd move when it comes to expanding your portfolio. Instead of having your capital tied up in one property, investing in smaller properties means the funds you receive for one could help cover the costs of the other.

Buy-to-let mortgage deals are recovering!

More choices in buy-to-let mortgages are returning to the market, with some 2400 deals available.* This is a sign that the market is regaining stability, with good levels of confidence, creating the perfect environment for long-term investment.

The opportunity to diversify

The more property you own, the more rental markets you could look to pursue. Whether you choose to invest in the student, professional, house, flat, or holiday home markets the opportunities are plentiful.

Let us do the work

When the property has completed and you are now a prospective landlord you can be involved as little or as much as you want. Our lettings team are here for every step of the process, from finding tenants and references to rent collections and check outs.

Whether you are looking to expand or create a property portfolio from scratch, get in touch to see how we can help you today!

Zoopla*

Is springtime a good time to sell your home?

This time of year has a lot going for it: sunshine, spring flowers, warmer weather, and if you are on the move, now is one of the best times to sell your home. In fact, spring and summer are often the most popular seasons for making a swift move.

More people move in the spring

As a pattern that repeats itself time after time, more UK property transactions are completed in the spring than at any other time of the year. For example, 107,100 property transactions were completed in the UK during May 2022*

A new start

It’s been well reported that the mini budget caused an air of uncertainty yet it seems it has been replaced by a fresh spring breeze of stability. Sellers and buyers who delayed moving are now returning to the market. Traditionally, the market warms up at this time of year, but with the added element of pent-up demand and a calmer perhaps slightly more realistic market, it forecasts a good year ahead.

Strong demand with a stable 2023 market

The average price of property coming to the market rose by just £14 (+0.0%) from January to February reaching £362,452.** Although this is not a significant increase or decrease a stable figure, combined with demand, suggests the market is now conducting itself in a manner that is sustainable.

Inspiring and beautiful homes

With warmer, dryer and longer days, spring lends itself well to moving as generally it can be better weather for all the practical parts, such as removals, as well as presenting your home in the best possible light. Many will have enjoyed a good spring cleaning and neat outdoor living spaces and blooming gardens will help display the home in the best way.

Springtime is the right time!

With homes typically looking good at this time of year and a buoyant market, with some fresh pent-up demand, house prices are remaining stable this spring. Warmer, longer days and lighter evenings seemingly bring homeowners out of hibernation, offering more choice to the property market, whilst potential buyers may feel there is more time in the day to arrange viewings and tie up offers. Additionally, with less chance of cold and snow to deal with while hopefully completing in time to enjoy the summer it’s little wonder that so many homeowners choose spring to market their home.

Spring your property move into life now! Why not browse our available properties, then book a free valuation with one of our expert agents.

Office for National Statistics*
Rightmove**