Given the surge in house prices over the last two years, inflation and the cost of living crisis – property values are predicted to ease in the coming months, presenting an opportunity for homebuyers that are in a position to purchase a new home potentially below market value.
Homeowners and prospective buyers considering capitalising on this financial 'breathing space' and moving before Christmas should act quickly to increase their chances of a smooth relocation, as the festive period approaches, according to JPM Solicitors.
Given the surge in house prices over the last two years, inflation and the cost of living crisis – property values are predicted to fall in the coming months, presenting an opportunity for homebuyers that are in a position to purchase a new home potentially below market value.
JPM Solicitors share their recommendations for a smooth festive move
1: Get the property ready for marketing
Once the decision has been made to market your existing property it’s a good idea to smarten up your home. Declutter the property and redecorate if necessary, a coat of paint can work wonders, as can giving the house a deep clean, emptying the loft and turning the storage/junk room into a usable space. Your property will then be more appealing to a prospective buyer.
2: Choose the right selling agent for you
Ensure to invite a number of estate agents to your property to not only consider different property valuations and fees but to get an understanding of how they operate. A good relationship with your selling agent can make all the difference in ensuring the process runs as smoothly as possible.
3: Instruct a conveyancing solicitor
It is never too early to instruct your solicitor. The earlier you instruct, the better prepared you will be. Have all your paperwork ready including warranties for appliances and any other documentation you may have relating to the property and pass this to your solicitors.
4: Book surveyors as soon as possible
Once you have found a property you’d like to buy, it’s worth ensuring that you get a decent survey before you commit to any purchase - if the boiler doesn’t work and you’ve already moved in, prepare for an expensive replacement, especially during the winter months.
5: Consider your packing arrangements
If you are opting for DIY packing, it is best to start at least three weeks before your moving date to box up items that you aren’t currently using. This will make the whole process less stressful and will also help with the de-cluttering of items that you never use or don't need, which can go to charity.
If you are using a removals company, try and book as early as possible to ensure the company is operating at the time you require.
6: Don’t forget to tie up loose ends
Be sure to inform utility companies that you are moving and have all mail forwarded to your new address once you have exchanged contracts. Write your Christmas cards in plenty of time and post with your new address pre-printed inside, this saves time and money on separate letters and messages.
Sharon Galley, Head of conveyancing at JMP Solicitors, said: “Moving home can be a stressful process for buyers, but there are ways to make the journey as smooth as possible. The festive period has always been a target for homebuyers looking to get settled into somewhere new before the start of a new year, and for those in a position to, it could be an opportune moment in the market to purchase property.