If you’re thinking about moving, there are 10 crucial questions you should ask your estate agent before you start the process.
Estate agents in Plymouth report that property stock levels are increasing across the city.
Lower interest rates and better mortgage deals are boosting confidence among buyers and sellers, which means now is a great time to think about moving.
Whether you’re looking to buy or sell a property, a good estate agent will hold your hand and guide you through the entire moving process.
From the moment you do the initial evaluation to the day that you hand the keys over to the new homeowner.
It’s not just a question of coming out and providing a valuation. It’s making sure that the whole moving process is done as smoothly and as efficiently as possible, taking the stress away and giving you peace of mind.
Here, our Lang Town & Country MD Paul Preen answers the 10 main questions that you should be asking if you’re thinking about moving.
1. Is now a good time to buy a house?
Now is a fantastic time to buy a house. Mortgage rates have come down in the last few weeks as lenders seem to have a little bit more confidence in where the market is going with regards to interest rates.
So, the cost of borrowing money is at a really good rate and at this moment in time, stock is starting to come back.
If you’re thinking about moving, I would recommend you start looking and getting an idea of what’s available to you and what price you can afford to spend on a property.
2. Is now a good time to sell my house?
We have a very, very large applicant base looking for properties at this moment in time in and around Plymouth.
The activity levels have certainly ramped up in the last three to four weeks so we would recommend that if you are considering selling, don’t delay and wait for a seasonal market.
Really start looking to put the property on the market as soon as you can.
3. I’m thinking about moving. What’s the first thing I need to do?
The first thing I would recommend if you are thinking of moving is to contact an estate agent and get an idea on the value of the property that you have.
If you are selling, you’ll need to work out realistically what equity you have available in your current property.
Then I’d recommend speaking to your financial advisor or your bank to confirm your borrowing capability.
When you have these figures, you’ll then be able to assess what is available to you in the current marketplace and then start the process.
4. How much does it cost to sell my house?
When moving, how much it costs to sell your home will vary from estate agent to estate agent.
One of the best bits of advice I always give somebody is to ask for a copy of the agent’s contract. Make sure there are no hidden charges.
Ideally, you should be looking for a fee in and around 1.25% to 1.5% depending on what is on offer from that estate agent.
You can find estate agents that will offer a cheaper fee but, as with most things in life, what you pay for generally is what you get.
So, be cautious, and look out for what you will receive for your money.
5. How do I know how much my house is worth?
There are multiple websites that you can go on to assess the value of your property.
A lot of these will just use an algorithm on what you’ve paid for the property and what the percentage rise or fall has been in that general location. This is not the correct way to value your property.
We always recommend that before you start to look at putting your property on the market, take a look at your competition to see what’s out there.
See what the general public can purchase for that value and where does your property compare? How does it fit into the local market?
There are a number of tools that we use here at Lang Town & Country. We’re happy to talk you through the moving process about how we come to the prices that we do.
6. How long will it take to sell my property?
Timelines for selling a property will vary from the point of offer to the day of exchange and completion.
On average, you’re looking at around a 12-week period. Sometimes it can take a little bit longer – maybe 14 to 16 weeks – and it will also depend on the size of the chain.
The longer the chain, the more potential there is for complications, so the length of the process could take a little bit longer than normal.
7. What steps do you take to sell my house?
When we market your property, we’ll arrange an appointment to come back to do the initial assessments and prepare a video tour for you.
At that time, we will also try to arrange for our photographer to come back and take some professional photographs.
We’ll also offer you a wide range of evidence and comparables to guarantee the sort of price we would expect to achieve for you when moving.
When we have this information, our administration team will then put together a brief for you for you to approve.
Once you’re happy and confirm that you are delighted with the details that we’ve prepared, we will then put your property out to our database of potential purchasers and advertise it on all the major property portals including Rightmove and Zoopla, as well as our own website.
8. What’s the biggest mistake people make when selling a property?
Undoubtedly the biggest mistake people make when selling a property is over-inflating the initial asking price.
There are a number of websites where the general public can see how long a property has been marketed for.
Then, when you fall into the realms of reducing the price on a regular basis, these act as a red flag to potential purchasers.
Always look at your competition before you put your property onto the market, and look at it logically. What would you feel about the price of your property in that current marketplace?
9. How do I make my property look good enough to sell?
Before we market a property, there’s advice that we’ll give to help you achieve the best possible price.
We have a number of useful tips to help you achieve the best possible price, from staging the property for photography to carrying out slight remedial works to make your property look as good as it can for marketing.
10. Where is the best area in Plymouth to buy right now?
There are multiple residential areas within the city of Plymouth if you’re thinking about moving. The best area to buy depends on what you want in a property, whether you’re looking for good schools, amenities or that social aspect.
We have a wide and varied stock across the city, ranging from Barbican apartments and apartments on the Hoe, right the way up to modern, detached family homes on the outskirts of Plymouth.
So, depending on what your requirements and your needs are, contact us and we’ll be able to point you in the right direction.
How can I find out more about moving in Plymouth?
If you have any questions about the purchase or the sale of a property, please do contact your local Lang Town & Country office.
Our experienced team will give you guidance with no ulterior motive of trying to sell you any benefits that might be a financial interest of themselves.
So, please do get in touch. We’re more than happy to give you some good advice and make sure your move is right for you.
I’m thinking about moving. What’s the next step?
If you’re thinking about selling your home, your first step should be to get it valued.
Get in touch with our Lang Town & Country team and we’ll be more than happy to offer advice and a free valuation of your home.
Plymouth Sales – 01752 256000 / Property@langtownandcountry.com
Plymstock Sales – 01752 456000 / Plymstockoffice@langtownandcountry.com
Waterside Office – 01752 200909 / Waterside@langtownandcountry.com
Lettings – 01752 201010 / enquiries@langtownandcountry.com
Land & New Homes – 01752 278499 / newhomes@langtownandcountry.com
