Month: February 2024

The journey of buying or selling a property is often filled with anticipation and excitement.

However, it can also be fraught with unexpected challenges that might cause a sale to fall through.

As experienced local estate agents, we’ve seen our fair share of transactions fall by the wayside.

This article shares insights on why these issues arise but, more importantly, how to avoid them.

Financial hiccups

One of the most common deal-breakers is financial issues. This could be anything from a buyer’s mortgage falling through to unexpected costs cropping up. To safeguard against this, buyers should have a mortgage agreement in principle before making an offer. Sellers should ensure their agent conducts thorough financial vetting of potential buyers.

Chain pain

Property chains can be complex and fragile. If one transaction in the chain fails, it can have a domino effect. Keeping communication open and having an agent with a proactive approach can mitigate these risks. This is why chain-free buyers, who don’t have to sell a property to finance a purchase, are more attractive to some sellers.

Survey snags

Surveys can uncover potential problems, such as structural defects and electrical issues, which might cause a buyer to reconsider. As a seller, consider conducting a pre-sale survey to identify and address potential problems beforehand. Buyers should use survey results as a negotiation tool rather than a deal-breaker if they’ve got their heart set on a home.

Legal delays

Legal complexities can slow down or derail a transaction. Working with experienced, reliable solicitors who specialise in property law is crucial. Ensure that all your documentation is in order before going on the market, and be responsive to any requests for information from your estate agent.

Cold feet

Sometimes, buyers or sellers get cold feet. This is where the ‘contact sport’ element of estate agency comes into play. A good agent regularly contacts and reassures people involved in the deal, which helps keep everyone committed to the transaction.

Staying the course

Remember, knowledge is valuable in property transactions. By being prepared and aware of these common pitfalls, you can navigate the process more smoothly.

As your local estate agent, we’re here to guide you every step of the way, ensuring your property journey is as seamless and successful as possible.

If you’d like a free property valuation or advice about marketing your home, contact us here at Chamberlains today.

Planning to renovate your rental? There’s one thing you should know before you start pulling up carpets or ripping out cabinets.

 

It will help you avoid a costly and avoidable mistake that many landlords make, and it’s this.

 

Don’t let your emotions cloud your decision-making.

 

It sounds simple, but you’d be surprised how many landlords lose sight of the fact that they’re supposed to be making business decisions. As a result, they do one or more of these things:

• Spend more than they need to.
• Spend cash in the wrong areas.
• Wind up with a longer void period than necessary.
• Do a sub-standard job that requires repairs.
• Put off doing much-needed work.

 

Here are some tips to help you stay on track.

 

Identify your market – Don’t decorate to your personal tastes. Consider who will most likely rent your property – students, families or professionals – and renovate to suit this demographic. A bespoke kitchen might be justified if you’re targeting wealthy professionals, but not if you’re renting to students.

 

Neutral tones – If you’re yearning to make a bold interior design statement, do it in your own home, not your rental. Prospective tenants may not share your tastes and could be put off by your aesthetic choices.

 

Go beyond the cosmetic – Do the locks need fixing? Are the fences wobbly? Does the boiler need replacing? It can be tempting to blow your budget on sexy, eye-catching features, but don’t overlook the basics.

 

Family matters – If you have a strong emotional attachment to the property (perhaps it was your former family home), don’t let sentiment misguide you. You must separate any nostalgic feelings from your duties as a landlord.

 

Be practical – A rental will always be subject to wear and tear, so opt for durable products and steer clear of light wall colours and flooring that will get mucky quickly.

 

Be realistic – Not even the best tenants in the world will treat the property exactly as you would, so look for low-maintenance solutions. This is particularly relevant if you have outdoor space, as garden maintenance is a common cause of disputes.

 

Avoid false economies – While some landlords go overboard and spend too much, others don’t spend enough. For example, tiles are easy to clean and don’t attract mould, so it can make sense to tile the entire bathroom to prevent issues from arising.

 

Don’t be a DIY hero – Instead of paying a tradesperson to do work, some landlords consider it a personal challenge to do as much as they can themselves. This means work can take longer than necessary or it isn’t done to a professional standard.

 

If you’re a landlord, contact us here at Chamberlains for advice about investing your renovation budget wisely.

They say selling a home is a marathon, not a sprint, but what happens if your sale is progressing at a snail’s pace or going nowhere?

 

How can you get things back on track and find a buyer who will go the distance?

 

One option – and it’s a big move – is to switch agents.

 

Sellers usually take this step when they’ve grown frustrated with a lack of progress and feel that a fresh start is needed.

 

If your agent has gone from hero to zero in your eyes, here’s a guide to the next steps you should take.

 

Time to talk

 

Have a frank conversation. Explain that you’re frustrated and considering taking your business elsewhere.

 

Ask your agent to identify what they think the problem is and how they’ve tried to fix the issue. Also, ask to see evidence, such as online portal statistics and viewing numbers.

 

Sales can go cold for reasons such as overpricing or poor presentation. If you think the problem is one of these, you may be willing to make some changes to regain momentum.

 

But if your agent’s justifications do not convince you, then it’s time to move on.

 

Check your contract

 

Read the contract you signed with your agent. Some contracts tie sellers in for a specific period, ranging from weeks to months. If you sever links before this time elapses, you could still have to pay the agent commission – even if a different agent sells the property (so you wind up paying two lots of commission).

 

Some contracts also stipulate that the agent gets a fee if they ‘introduce’ a buyer to the property (even if the agent doesn’t complete the sale). In this scenario, the agent should provide you with a written list of the people to whom they’ve shown the property.

 

Choose a new agent

 

Ask friends and neighbours for recommendations and read online reviews.

 

Explain your predicament to prospective agents and ask for constructive feedback. Remember, you’ve already been burned by one agent who promised the earth and didn’t deliver. If you hear some difficult truths – perhaps your property needs redecoration, repairs or re-pricing – respect the agent for their honesty.

 

Ultimately, a successful seller/agent relationship relies on trust. You need an agent who is straight with you and will put in the hard graft to sell your home.

 

If you’d like to know more about our marketing strategy, contact us here at Chamberlains today.

From Corgis to cockatiels and Poodles to ponies – there’s no doubt we Brits love our animals.

 

And is it any wonder why?

 

Pets make loyal and loving companions, can alleviate anxiety and loneliness, reduce blood pressure and make us laugh.

 

So, as it’s National Love Your Pet Day today (20 February), we’re marking the occasion with four uplifting pet stories.

 

Poppy, the paediatric physiotherapy dog

 

When 13-year-old Evie needed to learn to walk again after a life-threatening respiratory illness, loving Labradoodle Poppy was by her side.

 

Poppy joined Evie, who has Down’s syndrome, at her weekly hospital gym sessions at Addenbrooke’s Hospital, Cambridge, in December.

 

When things got tough for Evie, or she needed a little breather, she could stroke or play with Poppy to lift her spirits.

 

Thanks to the close bond between patient and dog – and the dedication of NHS staff and the charity Pets as Therapy – Evie was well enough to spend Christmas at home with her family.

 

Peggy, the Chinese Crested / Pug cross

 

They say beauty is in the eye of the beholder. And in the case of Peggy and her owner, Holly Middleton, this may well be the case.

 

Peggy was crowned Britain’s Ugliest Dog last year. And she certainly is distinctive.

 

Hairless, apart from a white thatch of fur on her head, Peggy’s tongue permanently hangs down the side of her mouth.

 

But Holly won’t hear a bad word said about her. She told Sky News: “I think she’s really cute, I don’t think she’s ugly.”

 

Zebby the cat

 

Put your paws together for Zebby, National Cat of the Year 2023.

 

The moggie who lives in Derbyshire with owner Genevieve Moss is a hearing cat.

 

He alerts his deaf owner to noises around the home and provides endless cuddles and snuggles.

 

Genevieve, 66, says Zebby is her best friend and saviour and means she never feels lonely.

 

Alpacas Raymond, Rodney and Roy

 

Who says you can’t have a pet if you’re a clean freak?

 

Cleaning guru Sophie Hinchliffe (known as Mrs Hinch on social media) has a spotless abode and three alpacas.

 

Raymond, Rodney and Roy spend much of their time in the garden but regularly come into the kitchen for treats. (Alpacas like raisins, apparently.)

 

Sophie says her ‘furry boys’ have made her home complete. She told the Guardian her alpacas provide her with a sense of calm and contentment.

 

Are you a pet lover? If so, share a photo below of your furry, feathered or scaly friend.

Being a landlord is rewarding, but it comes with its own set of challenges and responsibilities.

Over the years, we’ve seen and helped solve most of the mistakes landlords can make.

To help you navigate this complex terrain, here are the five most common mistakes we’ve encountered and how to avoid them, ensuring a more profitable and stress-free experience.

 

• Neglecting property maintenance

One of the gravest errors is failing to maintain the property. This leads to disgruntled tenants and costly repairs down the line. Prevent this by scheduling regular check-ups and addressing issues promptly.

• Inadequate tenant screening

Skipping thorough background checks can land you with troublesome tenants. Conduct comprehensive credit, reference and background checks to secure reliable and responsible tenants. It’s much more professional and less problematic if you get an excellent letting agency to do this for you.

• Not understanding legal obligations

A big one. A lack of knowledge about landlord-tenant laws can result in legal woes. Stay informed about your legal duties, including deposit protection and property safety regulations, like gas and electrical laws, to protect yourself and your investment. Again, a good letting agent keeps you on the right side of the complex and constantly changing compliance rules that govern rental properties across Teignbridge

• Poor communication

Failing to communicate effectively with tenants can lead to misunderstandings and disputes. Keeping open lines of communication and being transparent about expectations from the outset helps avoid issues.

• Ignoring insurance

Landlords often overlook the necessity of having adequate insurance coverage. Ensure you have the correct insurance to cover potential damages, rental voids, legal disputes and liability claims.

 

The letting agency advantage

To avoid these common mistakes, why not consider the expert services of our letting agency?

 

We have helped hundreds of landlords navigate the ins and outs of renting out their properties. From finding the ideal tenants to handling day-to-day management, we are here to ensure your rental investment is as profitable and hassle-free as possible.

 

Contact us today, and let us help you turn your property investment into a resounding success.

Random Acts of Kindness Day is this Saturday 17^th February.

The idea of a day to perform random acts of kindness began in America in 1995.

It’s spread globally and is a great opportunity to show how small, thoughtful actions can have a significant impact worldwide and closer to home in Teignbridge.

 

Here are six easy ways to spread a little happiness and strengthen the bonds within our community.

 

• Support local businesses

Start by supporting local shops and services. Whether buying a coffee from the local café or choosing a local craftsperson for your next project, your custom helps sustain the livelihoods of those in our community.

 

• Share a compliment

Never underestimate the power of a genuine compliment. Whether praising a neighbour’s garden or acknowledging a colleague’s hard work, a kind word can go a long way in brightening someone’s day.

 

• Donate to a local charity

Consider donating to a local charity or food bank. These organisations do incredible work, and your contribution, big or small, can make a real difference to those in need.

 

• Volunteer your time

Giving your time can be incredibly rewarding. Volunteer at a local school, community centre or charity shop. Even a few hours can have a significant impact.

 

• Help a neighbour

Simple acts like helping an elderly neighbour with shopping or offering to walk someone’s dog can foster a stronger, more caring community.

 

• Pay it forward

Buy a coffee for the person in line behind you, leave a book in a public place for someone else to enjoy, or simply hold the door open for others. These small gestures of kindness can create a ripple effect of goodwill.

 

Let’s use Random Acts of Kindness Day as a feel-good springboard to spread smiles and kindness throughout our community, not just on 17^th February, but every day.

Together, we can make Teignbridge a happier, more connected place for everyone.

If talk between you and your partner this Valentine’s Day turns to living together, there are a few practical things you should know first.

 

Here at Chamberlains, we pride ourselves on being as helpful as possible.

 

But dishing out relationship advice is a step too far – even for us.

 

So, if you’re considering moving in with your partner, we’ll leave the big decisions and lovey-dovey stuff down to you.

 

However, if you decide to co-habit, we have some useful, albeit unromantic, advice for you.

 

It’s based on insights we’ve gained over the years from helping many couples set up home together.

 

Speak to your landlord

 

One option when moving in together is to start afresh in a new rental property. However, if you plan to move into your partner’s rented place or for them to join you, then you need to discuss this with the landlord. Be aware that you’ll need to get the landlord’s permission first, and they’ll most likely have to run a reference check.

 

Budget and bills

 

The good thing about living with someone is you can share the financial burden of renting. But you’ll need to have a frank conversation at the start to discuss how much you can afford to pay in rent and how you’ll split the bills.

 

Jointly liable

 

It’s worth understanding that when the two of you sign a tenancy agreement, you are both ‘jointly and severally liable’. This means that if, for example, your partner loses their job and can’t pay the rent, you could be liable to pay their share. The same goes for the upkeep and maintenance of the property. You’re both equally responsible.

 

Logistics

 

If you both already have your own homes, decide what furniture you’ll each take to your new property. It’s unlikely that you will have room for more than one sofa, bed or dining table, so you may need to give away or sell some big-ticket items. At this point, you may also get the home-making bug and decide to buy some items to turn your new place into a cosy love nest. In that case, it may be time to put your relationship to the test by taking a trip to Ikea. Good luck.

 

If you’re looking for a new rental property, contact us here at Chamberlains today.

This week, we couldn’t write an article that ignored Valentine’s Day, complete with love themes and romantic puns. So, here goes.

Knowing what sort of property a buyer will fall head over heels for is a skill any good, experienced agent has honed from years of matchmaking.

With that in mind, below we look at the five most popular property types in Teignbridge and the type of buyers who are often smitten by them.

 

• The charming semi-detached

Young families and professional couples often fall for semi-detached homes. These properties are popular for their garden spaces and potential for social gatherings, appealing to those who enjoy neighbourly interaction and a bit more room.

• High-rise romance

Apartments are popular with young professionals and couples seeking to downsize. These homes are perfect for those drawn to the energy and convenience of urban environments and the simplicity of maintenance-free living.

• Detached delights

Detached homes are an excellent fit for growing families looking for a more spacious and private environment. They provide plenty of room for family activities, flexible living spaces and outdoor access.

• Terrific terraces

Terraced houses are often attractive to first-time buyers and downsizers who are charmed by their character and features such as high ceilings and large windows. They’re a chance to get to know your neighbours and usually come with a sense of community attached.

• Bungalow bliss

With its single-level design, the bungalow turns the heads of retirees and those who prefer easier access. Its simple layout appeals to those who love a straightforward, clutter-free lifestyle. This type of home is perfect for anyone looking for comfort without the challenge of stairs.

 

Are you thinking of moving?

Call us today to learn why you’ll love (we hope) our property matchmaking service.

The irony of our technology-driven world, where we’re constantly connected, is that many people have never felt more disconnected from others – including their neighbours and community.

One social commentator described modern life as suffering from ‘an epidemic of loneliness’.

One simple yet potentially life-changing solution to this problem is volunteering.

Offering your time, energy and skills locally isn’t just about lending a helping hand; it’s a two-way street that often improves your life and that of those around you.

 

Why volunteer?

Volunteering locally bridges gaps in society. It’s about more than just doing good; it’s a catalyst for community cohesion and bringing people together. It creates a sense of belonging, identity and collective responsibility. It’s an opportunity to step out of your comfort zone, learn new skills and build invaluable relationships.

The benefits to you

Aside from the warm glow of helping others, volunteering offers tangible benefits. It’s a fantastic way to enhance your CV, particularly if you’re eyeing a career shift or re-entering the workforce. The skills and experiences gained are as diverse as the volunteering opportunities available. Plus, it’s a proven mood booster, combatting feelings of isolation and enhancing mental wellbeing.

How to get involved

Getting started is easier than you think. Local charities, community groups and councils are constantly looking for volunteers. Decide what you’re passionate about and find a cause that aligns with your values.

Social media and online searches are a great place to start looking for opportunities to help.

Whether helping at a local food bank, mentoring young people or supporting environmental initiatives, YOU can make a real difference.

So, what’s stopping you?

Now is the time to step forward and play your part in shaping a stronger, more connected community across Teignbridge.

Your skills, enthusiasm and time are invaluable resources.

Remember, every little act of volunteering can add up to make a big difference.

Let’s come together to create a community we’re all proud to be part of.

Volunteer today – your community needs you.

Good news: the latest data on buyer demand shows that the number of property hunters out in force is up by 14%*.

So, what’s driving this increased demand? And what does it mean if you plan to buy or sell in 2024?

Let’s take a look.

Interest rates

For a good chunk of 2023, interest rates were high (relative to recent years), and the possibility loomed that they could go even higher.

Many buyers, uncertain about where it would all end, were spooked and put their property-hunting plans on hold.

But in the latter part of the year, things started to shift. The Bank of England held rates steady three times in a row.

Then, a few days into the new year, there was further good news when many lenders dropped their mortgage rates.

Some banks even dipped below 4% on their five-year fixed deals** to woo customers.

With the situation now much clearer – and more positive – expect more wait-and-see buyers to act (especially if they’re renting).

This will not only create more market demand but also increase supply because while some buyers will be first-timers, others will have to sell a property to fund their move.

And more sellers means greater choice for buyers.

Resilience

Some dire predictions about what could happen in the housing market did the rounds last year.

Brace yourself for repossessions and an almighty price crash, some warned.

Thankfully, the doom merchants were wrong, and the market proved to be far more resilient than some expected.

This may partly be because the government tightened mortgage lending rules after the 2008 banking meltdown. The aim was to stamp out reckless borrowing and suppress housing bubbles, and it seems to have worked.

Recent data (released by Zoopla) shows that the average UK home is worth 18% more now than it was pre-lockdown in March 2020.

So, buyers wondering if property is still a good investment need be in no doubt.

Contact us today at Chamberlains if you’d like a free property valuation.

* Source: Zoopla, comparing activity in the first week of January 2023 with the same time in January 2024.

** Lending conditions apply.