Durden & Hunt's latest Newsletter

Add value to your home with the perfect outdoor living space

A well-designed outdoor living area can not only add to the value of your home but also to the usability and enjoyment of the space. In many ways, it’s like adding another room to your home, and you have real freedom to create something special that adds to the quality of life in your home. Increasing feelings of well-being and providing an ideal place to relax, outdoor living spaces are what you make of them and often it’s a good idea to seamlessly blend the outdoors with the indoors

Design with the future in mind

There are no rules when it comes to creating your perfect outdoor living space. If selling, in the near or distant future, is on your mind keep the structure simple, such as neutral paving or decking, and leave space for embellishment that can be removed to taste, such as cushions and mirrors. This allows for both yourself and future buyers to add personality and vision to the space with smaller elements.

You can have more than one space!

Who’s to say you can’t create more than one outdoor living space? You could build decking and a patio near the rear of your home, with a path leading to tables and chairs and a stove for the winter at the bottom of the garden. Sectioning the garden will create zones with dedicated uses, whether sunbathing, film screenings or socialising.

Hire the right help and build it to last

Maybe you can do some of the work yourself; perhaps you need to hire help for it all. Whichever approach you take, build your outdoor space to last. It will help when it comes to retaining the added value of your home whilst looking good and being a nicer place to enjoy. So if you lay decking and install trellises, treat them so they look good for years.

Do you need to do it all?

Perhaps you don’t need to undertake a complete renovation of the space to make an impact. It could become a more long-term project, so why not do it in stages and start with a general spruce-up? There is always a new trend and new ideas, and leaving a little space to perfect, improve, or build on what you have leaves a little potential for buyers to add their own mark. Additionally, this will allow for budgeting effectively.

Browse our properties to find a home with your perfect outdoor living space.

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.

Take a look at the fresh buy-to-let investment opportunities this spring

Summer is nearly here, and there are many opportunities to expand your property portfolio or take your first steps on the buy-to-let ladder. Below we’ve outlined some of the reasons why now is the time to make a great investment.

Demand continues

The demand for rental properties is continuing to grow, with demand per available rental home last year spiking by 250% above the five-year average.* With people typically taking longer to get on the property ladder or choosing not to, long-term demand due to the shortage of rental property is anticipated to remain strong.

Rents are increasing

Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* The buy-to-let industry can potentially be very lucrative, and with higher demand, higher rent revenues may be achieved.

Buy-to-let mortgage choice is increasing

There are over 2,000 different mortgage deals available if you are buying a property to let;* so you should have options.

A bigger choice of properties

The standard of homes on the market has generally risen, with many coming up for sale at this busy time of year. Additionally many people put off moving in the latter part of 2022 and, during the pandemic, spent a lot of time and money getting their homes in tip-top shape.

The age range of renters has changed

The population in the UK is ageing, and unlike in the past, older generations are increasingly renting alongside younger people starting their property journey. This is yet another great opportunity to meet the demand for a niche in the market by targeting this sector.

Other sectors

Other avenues, such as holiday lets or student accommodation, present an opportunity to expand and launch your buy-to-let portfolio.

Get in touch to see how we can help create a property portfolio for a great return on investment.

Zoopla*

Could waiting to buy your new home cost you money?

Buying a home is a big decision, so you can’t be blamed for becoming a little pensive about making your move. Deciding whether you are going to move now or wait and see what happens is a conundrum for some buyers. As soon as you turn on the news, you will no doubt be bombarded with the cost-of-living crisis, another interest rate rise, or another reason to worry. It’s little wonder some people decide to pause their search. But could doing that cost you more money?

Waiting for interest rates to improve may not save you money

There is little doubt that we have been spoiled in the past with ultra-low mortgage interest rates, and many analysts suggest that they will never fall to the previous low level again. Although the Bank of England expects inflation to fall to 5% by the end of this year.*

Rising house prices balances your budget in the long run

Most people who buy a home in the UK will keep it for many years. House prices may fluctuate just as interest rates do. As interest rates and inflation begin to fall, house prices will likely ascend again. So, if you are waiting to see what happens, you run the risk of paying more for the home you want in the future. In February 2013, the average UK house price was £167,682 in February 2023, that figure stood at £288,000. ** Set against this longer-term perspective, if there are sudden and significant changes in the market, the reality for most homeowners is that in the long run their properties' value may perhaps cover the cost of increases in interest rates.

Properties are unique

There are no hard-and-fast rules. Local property markets are layered with unique and differing qualities. Whatever the national economic conditions are, the potential to gain equity in a home due to its condition, location, or potential can secure your investment in the face of challenging times.

Mortgages

It seems there will be continued fluctuation on available mortgages for the foreseeable which has made some buyers think outside the box to consider other options over perhaps the more traditional 2 or 5 year fixed deals. Its always worth speaking to a mortgage broker to identify exactly what you’ll be able to afford and available rates ahead of your search.

Are you fed up with waiting to make your big move? Browse our properties.

Bank of England*
Office for National Statistics**

New year, new home, new beginning?

Here we go again! Another new year, another chance to find everything you are looking for in a property. Could 2024 be the year that you have all the right questions answered with a lovely new home?

A new year

With visions of a better year ahead for 2024 popping into your head, you are forgiven for feeling excited about moving. The Christmas break is the perfect time to start searching as thousands of properties magically appear on the market. Sitting back in your favourite chair by the fire when you have some time to take a step towards a better future is a nice way to relax. A new year always brings new opportunities. If you see yourself and your loved ones sitting in a better garden, enjoying a bigger kitchen, or beaming with smiles because you are living in the location you love, then talk to your agent. The past year has been strong and proves that the UK property market is extremely resilient. Buyer demand is still incredibly strong, and prices are stable. At this time of year, you have the best of all worlds. There is plenty of buyer activity, but also plenty of people who will wait until the market is in full swing in the spring. That means high demand with not-so-high supply, which could lead to a swift sale and the new home you have been looking for.

A new home

The past few years have been eventful, but 2024 looks like it could be the year in which things settle down, which is why many people will choose to do exactly that. Making new friends in a new location, even if it’s in the same town, is an opportunity to make a fresh start. Decluttering your life from all the stuff you have collected over the years is a liberating experience. There is something extra special about doing this as the year begins. Are you craving a better property with a garden and an outdoor living area to cherish, that is, energy-efficient, full of character, cosy, and airy at the same time? Could a move mean a better education for your children? Could it lead to a happier life? Create a healthier life closer to family? A holiday home or a buy-to-let investment? Whatever you are interested in now is your opportunity to make a move before the property market takes off again.

A new beginning

There is so much to feel positive about as we head into 2024. Interest rates are stabilising, leading to lower mortgage rates and an increase in the number of mortgage types available. There is more time to pay with longer terms, interest-only options, porting, green mortgages, guarantor mortgages, interest-only and offset mortgages, which allow you to use your savings to reduce your balance, meaning you pay less interest. Agents’ listings are full of properties that have had a lot of work carried out, elevating them to new standards. And the market looks nicely placed due to its steady pace built on solid foundations. This is based on high demand and a high rate of mortgage-free home ownership. Don’t be jealous; this helps keep the property market financially secure. In 2021, 32.6 percent of dwellings were owned outright in England.* The market has become more complex than ever, and properties are becoming more individualistic. It takes real expertise and market knowledge to optimise your home move, so you can make the most of your new beginning.

This is money*

What will the 2024 UK property market look like?

It’s impossible to predict the future completely, so why worry? When homes sell incredibly quickly, this often leads to rapid property price inflation. Right now, the market is stable and not growing rapidly, which makes it a good time to move. You have a little more scope for negotiation while still achieving a great price for your existing home, as it will have gained in value in recent years. With inflation falling in November by 2% to its lowest levels in two years to 4.6%* and wages rising, the market is returning to normal. The expectation is of slowly falling rates and rising property prices steadily emerging towards the end of 2024, but could this occur earlier than expected with the January rush?

Winter

Winter 2024 begins in December 2023, as many homemovers get a head start on finding a great home before January. Sellers are itching to move, having placed their homes on the market in time for scores of viewers, who create a Boxing Day home moving boom. In fact, the week of Christmas is one of the busiest times of the year.

Spring

Those who have waited to move in January will now place their homes on the market as the property market gets into full swing. Added to those who decided to take the plunge by moving into their dream homes in time for sprouting daffodils. As mortgage rates become more competitive, combined with a strong beginning in 2024 with better buyer affordability, there will be real momentum in the market.

Summer

If you have already bought your home at this point, you may have got the timing just right. In many ways, 2024 is a good year to buy and then gain the rewards of good growth in the following years. Overall, the outlook appears steady, with a lot of stability. You could be sitting pretty with a garden in full bloom and concentrating on a holiday, knowing your property plans are sorted and all you’ll need to do is make the most of enjoying the reality that was once a dream.

Autumn

This appears to be the only season of change, and perhaps we are tempting fate to look this far into the future. But if the predictions of analysts are correct, mortgage rates will start to decrease further but not return to the extreme lows of the past. As a result, property prices will start to rise more rapidly.

Your agent can transcend time

Any time is a good time to move; it’s more about you and your home. Good estate agents hold the keys to optimising your situation at any time of the year and are becoming extremely adept at the entire moving process. Today, they are armed with vast databases of homemovers that connect your home with the right buyer quickly. They can help broaden your mortgage options with the right mortgage advisor and fine-tune the value of your home, which is critical in today’s market. Finding the property that will improve your life immeasurably will help you feel awesome all the time.

Bank of England*

How to present your home for a viewing in 2024?

Have you placed your home on the market with the goal of relocating in the new year? If so, it's worth taking a little time to help make sure your home looks as irresistible as possible when potential buyers come for a viewing. Let's look at what you can do to improve your chances of receiving the offer you desire for your home.

Give your home some kerb appeal

First impressions are crucial. Because of this, your property's exterior should be appealing so that prospective buyers are impressed before they even step foot inside. One way to achieve this is by giving your door a clean, and maybe even a lick of paint. If you have a front garden, mow the lawn, trim any shrubbery, and get rid of any weeds that may be growing on your driveway or patio.

Open up the space

It is important to try and make sure your home is clutter-free, as a clean and organised interior can help showcase the full potential of a property. A tidy living area allows potential buyers to envisage themselves in that property, increasing the likelihood that they will make an offer. A cluttered property will likely distract people from your home’s features and may give the impression that the property has not been maintained properly.

Make the necessary repairs

Before showing your home to prospective buyers, you might consider making any l necessary repairs as this will give them confidence that the property has been looked after. A property that has no issues will likely achieve a higher asking price and sell faster, as potential buyers will be more encouraged to make an offer.

Let some light in

In order to create a bright, welcoming ambiance that will attract prospective buyers, it is important to let in as much natural light as possible during a viewing. As well as improving your property’s aesthetics, natural light will make your home feel more inviting and spacious whilst showing off your home’s features and character.

Freshen up the air

Allowing fresh air into your home is a great way to create a pleasant and clean atmosphere. A well-ventilated home removes bad odours and reduces the effects of damp and condensation, which could put off potential buyers if present. Creating that fresh feel in your home could make all the difference when potential buyers consider making an offer.

Looking to move to a new home in 2024? Contact us today

Properties are selling faster than you might think

Are you thinking of selling your home but worried about how long it could take? The sale time may not be as long as you think. There are many different factors that can affect the speed of a sale, including pricing strategies, local market conditions, and property type. Let’s take a look at the current average sale times of a range of property types and how you can help secure a sale in good time.

Two-bedroom terraced houses are selling quickly

According to Zoopla’s November 2023 study, two-bedroom terraced houses sell faster than any other property type, with an average sale time of just 28 days.* This is primarily attributed to the fact that they are one of the most affordable property types, as well as being relatively rare, accounting for just over 8% of properties on the market recently.* Three-bedroom terraced houses and three-bedroom semi-detached houses sell the second quickest, in just 31 and 32 days on average respectively* whilst flats take between 35 and 37 days on average, depending on the number of bedrooms.*

Larger properties are not far behind

You might expect sale times for larger properties to be much higher. However, the average sale time for a four-bedroom semi-detached house is just 39 days, with a terraced property containing the same number of bedrooms taking just two days longer.* Three-bedroom detached houses take 43 days to sell on average, whilst the property type included in the study that takes the longest time to sell, four-bedroom detached houses, takes just 47 days on average.*

The market has stabilised

The more eagle-eyed individuals may notice that these figures show an increase in average sale times compared to Zoopla’s 2022 study. However, this is attributed to the housing market stabilising after the pandemic. Sale times are still relatively fast and should definitely not deter anybody considering selling their home.

What you can do to secure a sale quickly

There are several things you can do to ensure that your property sells quickly and smoothly. Firstly, its important to choose the right agent, you need to not only get along with them but also know they will work as hard as they can for you. It is also important to price your home correctly, as overpricing your property may discourage potential buyers from making a bid and in fact, potential buyers may not see the property on portals due to pricing brackets. Making sure your property is well-presented for viewings can also help to secure a quick sale, as it helps to allow viewers to envision themselves living there.

Looking to sell your property? Contact us today

Rightmove*

How to calculate your potential rental yields

Understanding your possible rental yield is a fundamental part of becoming a landlord. As a property investor, you can look to identify what a desirable yield is and calculate what you will need to get there. Let’s take a look at rental yields, what they are, and why they matter.

What is a rental yield?

The term ‘rental yield’ refers to the potential amount of money your property can make through rental income. This is often expressed as a percentage of the market value of the property. While yields can be calculated for any period, annual yields are most commonly used.

Why do rental yields matter?

When it comes to investing in property, obtaining a good return on investment (ROI) is often the primary objective.

Working out your potential yields ensures you can strike the balance for rent, and that you aren’t selling yourself short or overpricing your property. For example, if your potential income falls short of your expenditure, or if you only manage to break even, something unexpected as a boiler repair could leave you out of pocket.

On the other hand, if what you’re charging in rent exceeds the market rate, you may struggle to obtain tenants.

What’s the difference between gross and net rental yield?

Gross and net rental yields might sound like complicated business terms, but the difference between the two is simple:

The gross rental yield is the total amount of money your property makes before expenses. This is calculated using the price of the property and the income generated by the property.

The net rental yield is everything you make after expenses. You can calculate this by adding the price of the property to the income generated through rent, and then subtracting the associated fees and costs of owning and maintaining the property

How to calculate your rental yield

Multiply your monthly rental income by 12 to get the annual figure
Divide that figure by the property’s purchase price
Multiply that figure by 100 to get your gross rental yield percentage

MONTHLY RENTAL X12 = ANNUAL RENTAL INCOME

ANNUAL RENTAL INCOME / PURCHASE PRICE×100 = RENTAL YIELD PERCENTAGE

If your tenants pay rent weekly, multiply the figure by 52 to get your annual rental income.

If you haven’t bought the property you’re interested in yet, you could look to use the current market value and your anticipated rental income to estimate potential rental yields. Its worth speaking to the agent so they can help advise on achievable rental incomes and assist on your property journey.

Need help managing your investment? Contact our expert lettings team today

Should I sell my house or rent it out?

If you’re getting ready to move on from your current property, you might have asked yourself the question: Should I sell it or rent it out? Let’s explore the nuances of selling versus letting, why one option might be better for you, and how you can plan your next move for the best possible outcome.

Should I wait to sell my house?

Choosing the best time to sell is no easy task. You could try to sell immediately to get a sense of the market whilst advertising. There are some reliable seasonal trends which you could follow, but timing will largely depend on the housing market in your local area. National trends may not apply to the market in your location, so it’s important to speak to a local, experienced agent, such as ourselves, who can point you in the right direction when it comes to timings, local trends and pricing.

Will my mortgage lender let me rent out my house?

It is essential that you speak to a mortgage adviser and check the small print of your mortgage agreement for any limitations before coming to a decision. Many mortgages will include a clause that disallows you to rent out your property, while some may allow you to rent it out with conditions i.e for a certain timeframe.

If it turns out that you do have to change your mortgage, you’ll most likely have to switch to a buy-to-let mortgage. These mortgage deals often charge higher interest rates, but they also allow you to rent out your home and potentially create a revenue stream. Its unlikely you’ll be able to make an immediate decision as you will have to consider upfront costs such as early repayment fees, valuation survey fees, and new mortgage arrangement fees.

Advantages of selling

Achieving a good price

Listening to the advice of an expert agent and setting the right asking price will help ensure that you get a great price for your property, which can then be used against the purchase of your next home.

Using increased value

Some people upsize using the increased value of their current home. If the value of your home has increased significantly since you bought it, you’ll be able to use the funds towards the cost of buying a bigger property. Or, if you’re hoping to downsize, your return on investment can be used as disposable income or placed into a savings account.

Moving on

Selling the property means the responsibility transfers to the new owner, including its upkeep and maintenance.

Advantages of renting out your house

A faster move

You may rent out your house to facilitate a faster move, as you can place an offer on your next home as a ‘chain-free’ buyer, which could hopefully mean fewer delays in the conveyancing process.

Additional income

Renting could be a great option if you would benefit more from a steady stream of income, rather than a lump sum. Additionally, if you’re working abroad and plan on returning home at some point, renting it out will supply you with an additional source of income in the meantime.

Value growth

House value tends to increase over the years in which you own the home, so by renting it out for a few years instead of selling, you might be able to achieve a higher sales price, plus any additional income you made from rent.

Don’t forget, your agent can advise what is the best way to take advantage of the current market and local trends. Perhaps the demand for your property type is more in sales than rental or if the sales market is proving slow perhaps a 12 month tenancy might give time for momentum to build.

Whether you’re buying, selling, renting, or letting, get in touch with the expert team at Durden and Hunt

How can I find the perfect home to rent?

Looking for the perfect home to rent can be a challenging task, as there are a wide range of factors that you need to take into consideration. Here are some top tips for making the process as simple as possible.

Determine your budget

The first step in finding the perfect home to rent is to determine your budget. Knowing your figures will allow you to narrow down your search and only consider properties that you can realistically afford, without putting yourself under too much financial strain.

Give yourself plenty of time

When it comes to finding a new home, rushing the process can lead to poor decisions and frustration. Giving yourself plenty of time allows you to thoroughly research different locations, compare rental prices, and view multiple properties. By starting early and taking the time to carefully evaluate your options, you can look to find a rental property that aligns with your lifestyle, preferences, and financial situation.

Consider your location

Of course, one of the most crucial factors to consider when searching for a property is its location. Before committing to an area you’re not familiar with you could research it and visit the neighbourhood at different times of the day to get a feel for it.

Define your must-have features

It's essential to take the time to define your must-have features before starting your search, as this will help you find a home that suits your needs and preferences. By clearly outlining what you are looking for in a rental property, and perhaps what you are willing to compromise on, you can streamline your search process and focus on homes that match your criteria. This can save you time and energy and help you find a place that feels like the perfect fit for you.

Speak to your estate agent

Your estate agent is the bridge between you and your next home and effective communication can help them understand your needs and preferences, allowing them to present you with options that align with what you are looking for. Don’t be afraid to ask your agent questions or go to them for advice, as they are there to help you with whatever you may need.

Take the final steps

Once you have found a property you love and have decided you would like to live there, you need to complete the process with the help of your estate agent. From reviewing the tenancy agreement to paying your deposit and submitting references there are a number of requirements that need to be completed before you can move in.

Looking for your perfect property? Contact our dedicated team of agents today