08 Feb 2024
How to Increase the Value of Your Home
This week, I wanted to put together a list of things people could do to add value to their home without spending all your money but still making a massive difference. Front door: This is the buyers first impression when visiting your home. Give it a glow up by freshening up the paint, polishing the doorknob, and jet washing the doorstep. Even add a seasonal wreath or potted plants either side of your door to really stand out from the neighbours! To get the creative ideas, look on Pinterest. Fix the small problems: People will pick up on peeling paint or mouldy bathroom sealant, so make sure to have everything fresh, repainted and clean. Any little issue will decrease the value of your home and put the offer at risk of being lower than the asking price... Do NOT give people a reason to lower their price, because they will (even due to a slightly dripping tap). Driveway: Clear your driveway so that viewers can park on there - it will make the house feel welcoming and homely for them. Make sure there is enough off-street parking for them because this can be major factor for someone buying a property. I know that having enough room to park is a deal-breaker for my family! Kitchen: Nowadays, people are looking for the perfect kitchen to enjoy with family and friends. To create this image for buyers, make sure all the lights are on to brighten up the place. The lighter in colour, the bigger the room will look. And please de-clutter your work surfaces!!! Have a clean and clutter-free work top can make a hell of a difference. Smart home: When people are coming to view your home, have some music on in each room – if you have a multi-room sound system... even better! Or make sure your broadband is on display so that it is clear that you have Super Fibre connection. Just advertising these techy features can encourage buyers and make a difference to the value of your home. Heating: Make sure your home is warm! Stepping into a cold house when on a viewing can be very unsettling and uncomfortable. Especially when living in Wales, the weather can be dreadful, so allowing the heating on can help with buyers to feel cosy and warm when coming from the cold outside. Lighting: It is essential to have good lighting on viewings. Having a bright home can make a difference in the buyers first impressions of your house. This can make a surprising difference on those grey days, or even the viewings that happen to take place past sunset. Switch on all your lamps, or even purchase some strip lights to hide behind your TV or along the kickboards of your kitchen. Garden: Have your garden (particularly front garden) freshly cut, stimmed and weeded. Maybe even add some potted plants and freshen up your flowerbeds. Your front garden will be the first thing sellers see when they pull up to your house. Make it colourful, bright and endearing. This is just a guide, and obviously every home is different so some may not apply to you. But there are always other ways to add value! If you would like to have any advice on how to add value to your home whether it be a flat, land or a house, feel free to contact me. Or better yet, do some mood boarding on Pinterest then just apply your creative vision. There are more costly ways to increase the value of your home, like garage or loft conversions which adds an extra bedroom or reception room. Although, if this is too costly, it might be a good idea to obtain planning permission from your local council now so that it gives potential buyers the opportunity to be able to do this in the future without the initial hassle. Do NOT devalue your home! If you have ever made conversions or extensions in the past, make sure you have all the relevant documents including planning permission and building regulations to prove this is all confirmed and won’t come back and bite you. Also, making sure you have an up-to-date EPC report will help. Things like Japanese Knotweed and Asbestos can endanger the sale of your house so act on this quick. Feel free to comment some advice you would give on how you added value to your home!
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08 Feb 2024
Key Dates in the Letting Industry
1 April 2022: I think everyone will remember this sad day – the energy price cap increased and was the start of our current cost of living crisis. The cap rose by 54% overnight and affected the vast majority of households across the UK. However, there was an advancement in the accounting world with the making of tax digital. 28 April 2022: Building Safety Bill obtained royal assent (meaning it will be in the final stage of becoming law through parliament). This will mainly include changes to fire safety regulations for HMO’s. I have linked the gov.uk article with more information on this here. 10 May 2022: The Queen’s Speech: This particular speech touched a lot on the economy and plans to grow this, as well as tackling the cost of living crisis. These speeches are ones to write in the diary as there can be a lot of legislative changes that can affect the property market. 31 May 2022: Letting agents and landlords are now required by law to include additional material and information when advertising a property. This will include council tax bands, rent price and deposit amount. 1 October 2022: New regulations come into force on carbon monoxide (CO) detectors and smoke alarms. It will be expected for CO detectors to be placed in every room where there is a solid fuel appliance, and for smoke alarms to be mains interlinked. I have found a useful guide on this through Goodlord and linked it here. 1 December 2022: This date is significant in Wales. I have recently spoken about this in a previous blog which can be found here. The Renting Homes Act came into effect, drastically changing the way we rent in Wales through major differences in the tenancies and notices. 1 April 2023: Rules in holidays lettings changed as the minimum number of days the property was available to rent went up to 140 days per year, and anyone that did not do this would not be able to benefit from business rate relief and end up having to pay council tax instead as well as the second home premium. This was also spoken about in my previous blog post, ‘Holiday Letting in the Property Industry’. 6 April 2023: On this day, changes in capital gains meant that the exempt amount decreased from £12,300 to £6,000. A massive difference which will negatively affect many vendors’ profits when selling. 1 June 2023: Now we are in the present day and looking at what lies ahead... the first key date of 1st June 2023 being the deadline to deliver all written statements to any tenancies set up prior to the Renting Homes Act in December 2022. In December, they automatically converted from ASTs to occupation contracts, but there was 6 months given to get the written statements out in writing. 30 June 2023: This will be the last day that all households will receive the help of the Energy Price Guarantee – a sad day for all, but it has been a massive help for many. 6 April 2026: Tax will made digital for all income tax self-assessments, also needing to be submitted 4 times annually. However, this only applies to those that have an income of over £50,000 on their business or property. Anyone that has an income between £30,000 and £50,000 will have until April 2027. There are also some key dates that are still to be confirmed. Increasing the minimum rating on an Energy Performance Certificate (EPC) for private rented properties to a minimum of C, compared to the current requirement of E or above. This is expected to happen in April 2025 – but who knows! Many of the legislations that were spoken about in this blog post were meant to be in force a lot earlier than they actually were... HMRC are also looking at making tax digital for corporation tax also. There was a consultation regarding this over 2 years ago now, in March 2021. That sums up our current timeline of events in the lettings industry... however anything can happen between now and then. But one main reason we have this blog is to update everyone on any news, announcements and open discussions on anything property! To keep up to date on all property news, subscribe to us TODAY.
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15 Jan 2024
Welcome to Padarn Property Post
That's why we started this blog - to share our love of property with fellow enthusiasts like you. Our goal is to provide you with practical advice, insider tips, and plenty of inspiration to help you achieve your goals (whatever they may be). A little bit about us: we're a team of property professionals who are passionate about what we do. We've experienced so much in such a short amount of time, and we've helped plenty of clients find their dream homes and invest in properties that set them up for long-term success. Starting as a small business run on the coast of Wales, we have the mentality and capability to grow – which is exactly what we are doing. In this blog, you'll find all sorts of juicy content, including: + Property listings and market updates: We'll be sharing the latest property listings, market trends, and updates to help you stay ahead of the game when it comes to buying or selling a property. + Insider tips on buying, selling, and investing in property: Our team has a wealth of knowledge when it comes to real estate transactions, and we'll be sharing our tips and insights on everything from negotiating a purchase price to staging your home for a successful sale. + DIY home décor and renovation ideas: Whether you're a DIY enthusiast or just looking to spruce up your space, we'll be sharing our favourite home design and renovation tips to help you make the most of your property. + Neighbourhood spotlights and local event guides: We love our community, and we'll be sharing our favourite local events, attractions, and neighbourhoods to help you get the most out of living in the area. We want this blog to feel like a conversation between friends. So, if you've got questions or ideas for future blog posts, don't hesitate to reach out! We'd love to hear from you. Send through any dilemmas for us to advise and entertain. Thanks for joining us on this journey, and we can't wait to share our property obsession with you!
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