Your December snapshot - Durrants.

Your December snapshot - Durrants.




<span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold;"><strong>Surge in homeowners keen to move this year</strong></span>

 

 
COVID-19 has caused a major shift within the property market regarding buyers’ and sellers’ attitudes.

According to a recent survey of 1,000 homeowners, as many as 26% are considering moving within the next year.*

So, what are the reasons for homeowners wanting to move?

After a year of restrictions and confinement, we've all had more time to reflect on the way we live and use our homes.

Considering that 55% of respondents directly linked their reason for moving to COVID-19, we can see just how extensive the situation is, with many households finding that their property no longer fits their lifestyle or needs.

As well as desiring a bigger garden space, other important factors include finding somewhere with:
 
 
Natural light (15.8%): introducing natural light into your home reduces stress and anxiety, boosts immune systems and increases happiness through the production of serotonin – the feel-good hormone.
 
Whilst these are just some of the core benefits, they are the most relative as to why homeowners are seeking homes with plenty of natural light.
 
 
A home office (13%): working from home has given many of us the opportunity to see remote working as a long-term norm.
 
By working at home, families are able to share the responsibility of childcare and spend more time together that would have otherwise been spent separate.
 
 
 
A home gym (11.9%): the initial lockdown caused a rift in the country's health and wellbeing, pushing many to implement home workout measures in order to stay fit, active and fulfilled.
 
The reality is that a lot of people won’t feel comfortable returning to their regular routines for some time, minimising possibly high risk locations such as gyms for a safer alternative, choosing to exercise from home instead.
 
 
 
 
Chief Executive of IDSystems concluded that: “2020 has been a year of frustration and uncertainty for homeowners, with many now feeling the need to make big changes, either by moving out of the city or maximising their existing spaces.
 
Through the challenges and restrictions people have faced, it is clear that British homeowners are not afraid to make big decisions to ensure their homes are providing the best possible environment for work, study and relaxation.”
 
 
If you're feeling fed up and in need of a change, we'd invite you to browse our range of stunning local properties. Contact us today for more information.
 
 
*IDSystems
 



<span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold;">Your guide to understanding your property's value</span>

 
If you are planning to sell or rent your property, then it’s important to get an accurate estimate of how much the property could be worth.

To give you an agent's perspective of what that involves, we've provided some of the key take-away points below.


Market value

Firstly, knowing how much your property is worth is more commonly known as its 'market value', which relates to the price a buyer is willing to pay when considering local and national market conditions.
 

What impacts the value of your property?

The value of your house can be determined by a variety of factors, such as any recent changes to the property or your neighbourhood.

Some of these factors may also include the size, location, amenities, condition and the asking price of similar houses nearby, so it's always beneficial to talk to a local agent with familiarity selling in your area.


The difference between market value and asking price

Valuing your house accurately is one of the most important parts of the process.
 
Bringing your home onto the market with an asking price that is too low could mean you receive offers below market value.

Whereas if the asking price is too high, you may not receive any offers at all, causing time delays and market stagnation as the ideal buyers are put off a home that falls outside of their price bracket.
 
So, whilst it can be tempting to instruct an agent based on who is offering the highest value, the risk of this is that you may need to gradually reduce your price anyway to reflect the property's actual market value.
 

How much could your house really be worth?

The best way to see how much your house is worth is through a combination of tried-and-tested
methods.
 
Over lockdown, it would be advisable to begin by referring to online house price calculators and valuation tools, as these will provide a guide based on Land Registry Data. 
 
However, it's important to bear in mind that for the most accurate and up-to-date valuation, you should organise time with an agent, as an in-person appraisal will guarantee any recent developments to your home are taken into consideration.


If you’re thinking about putting your property on the market, book a valuation with our team today.
 
 
 



Durrants announce £20,000 funding for local charities

Durrants Announces £20,000 Funding for
Local Charities

Leading Norfolk and Suffolk property and consultancy firm Durrants is delighted to announced new funding of £20,000 available for local charities and community projects.  Grants of up to £2,000 are available and applications must be submitted by 31st March 2021.

George Durrant & Sons Limited provides a range of agency, professional and consultancy services across the residential, commercial and agricultural property sectors and has played its part in the community since it was established back in 1853.  Over the years Durrants has supported many local events and community projects including the work of East Anglian Air Ambulance; YANA, a rural mental health charity and Clinks Care Farm near Beccles, which provides disadvantaged people the opportunities to work and learn a variety of agricultural roles including working with livestock, carpentry, market gardening and more.

 

The Durrants Charitable Foundation has been set up to formalise the company’s support for local community and charity projects and this year a fund of £20,000 is available with applications for grants of up to £2,000 being accepted until 31st March 2021. 

 

Dominic Parravani, Managing Director for Durrants said, “Being an active part of the community in which we do business is very important to us, and in these unprecedented times, it is more important than ever to show our support.

 

The Foundation aims to support projects in the areas of Beccles, Diss, Halesworth, Harleston and Southwold, where we have offices.  Perhaps a local school needs devices for remote learning, a sports club needs new equipment, or a new community event needs financial support getting off the ground.  These are all examples we would consider supporting through the Foundation.”

 

A recent beneficiary of Durrants funding is Baby Basics, a Lowestoft based organisation that works with midwives, health visitors and other professionals to provide moses baskets and starter kits to vulnerable families in Lowestoft and the surrounding area. Leah Smith, Durrants employee and volunteer for Baby Basics commented, “We are delighted to have received the support of Durrants.  This will make such a big difference to many vulnerable families in the area.”

Full details of how to apply for funding and terms and conditions are available here.



<span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold;">Our latest interactive property magazine</span>

This edition of our property magazine contains a selection of our properties. There are 57 homes for you to look at, and one of them may be the home you've been searching for.
 
To view full the full e-zine, click the front cover or the button below.

Click here to read <span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold;">Our latest interactive property magazine</span>.



<span style="font-family: Arial, Helvetica;">Surge in holiday let enquiries due to stamp duty holiday</span>

 
Properties bought for the purpose of holiday lets have grown in popularity since the introduction of the stamp duty holiday, with the extension giving investors until June to see savings for homes worth £500,000 and until September for those worth £250,000 and under.
 
Holiday property provider – cottages.com – has seen a 35% increase in enquiries, with year-on-year enquiries rising by 70%.
 
The “staycation” boom isn’t going anywhere for the time being, as coronavirus restrictions ease and the country gets one step closer to being able to resume planning social events and trips.
  
The pandemic has reshaped how people holiday, with many more of us choosing to stay closer to home and taking fewer risks with our travel plans.
 
If you have been considering buying a second property to let short-term in the UK, you could see significant returns in time for summer.
 
Out of all the new listings on cottages.com, 70% have been listed from first-time holiday letters; showing a unique opportunity for investors.
  
To find your next buy-to-let investment, browse our latest properties.
 



<span style="color: #98ba42; text-decoration: none; font-weight: bold; font-size: 18px; font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif;"><span style="font-weight: bold;">Celebrating Beccles Switch On</span></span><br />

Durrants Beccles were glad to help support and sponsor this year’s Beccles Christmas light switch on! The annual event welcomes over 7000 people into the town to enjoy the start of the festive season.


Click here to read <span style="color: #98ba42; text-decoration: none; font-weight: bold; font-size: 18px; font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif;"><span style="font-weight: bold;">Celebrating Beccles Switch On</span></span><br />.



<span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold; font-size: 18px;"><span style="font-weight: bold;">Why January is a great time to sell </span></span>


 

January is a time of clarity, after shaking off the tinsel and pine needles, it’s the time to return to everyday life with intentions of improving it – which is why plans for moving often come into fruition at this time of year.

 

If you have some reservations about putting your house on the market so soon after Christmas, here are some reasons not to worry and why in fact, January could be the perfect time to sell…

 

New Year, new home

Buyers on the market at this time of year have a completely different mindset than usual. January can feel like a page turned for many people, with plans for a new life right in the margins. You’re less likely to run into time wasters and tyre kickers in the New Year. People looking for a home at this time are serious about their plans, and if your home happens to match their criteria; you’re in luck.

 

Boast your home’s best features

Smart buyers will look for a home in the winter. Not only to avoid the summer frenzy, but also because cold weather is far more revealing, and homes can potentially look their worst in the winter. However, this is a great window of opportunity for sellers. Your agent will be able to showcase the comforts of your home with staging so that your bright, warm and welcoming house contrasts against the dark and cold. A cosy refuge from the cold that holds up nicely in the Winter is bound to look even better when the weather cheers up, and this prospect is certain to draw in buyers. 

 

On the move

In the wake of the holiday season, January is known for being the busiest time of year when it comes to employee redistribution and staff changes. With many people working from home, a change of job may be the push needed for a change of working environment; instead of moving offices, people will be moving to new homes with better office space. 

 

Now is also the perfect time for first-time-buyers to take their first step onto the property ladder. After spending Christmas indoors with family or in a small apartment, a change in environment could be just the thing they need. 

 

Less competition

The winter months are a great time to put your house up for sale, particularly in January when the seasonal lull is still wearing off and fewer properties are on the market. You won’t need to fight for buyers’ attention, and the imbalance of supply and demand could be great news for sellers, as buyers know their options are fewer. It’s also easier to make your home stand out from a (smaller) crowd of homes on the market, and if yours has something special to offer, it won’t stay on the market for very long. 

 

The green element

EPC ratings are becoming increasingly important, and the cold weather will allow you to show off your home’s energy efficiency. Buyers are becoming more conscious about energy bills and individual environmental impact at the moment, and a cosy property with an impressive EPC rating has never been more attractive to buyers than right now. 

 

Ready to get your home on the market? Speak to our team of experts today to get started.



<span style="font-size: 18px;">Make Do</span>

Let’s face it, we are all trying to find ways of making a pound stretch a little further these days. For home sellers the best way is to make their properties worth more. 

Click here to read <span style="font-size: 18px;">Make Do</span>.



<span style="font-family: 'Century Gothic', AppleGothic, Helvetica, Arial, sans-serif; font-weight: bold; font-size: 18px;"><span style="font-weight: bold;">Top tips to speed up the time between sale agreed and exchange </span></span>

 

Selling your home requires a good amount of patience and persistence, and the process is never as straightforward as it might seem. On average, 34% of transactions fall through before exchange, and this is why some homes take longer to sell than expected.

 

If you’re thinking about ways to jumpstart the moving process, we’ve put together some top tips to help you achieve that smooth sale…

 

Complete your forms

At the outset of the sale, your solicitor will send over a property information form and a fitting contents form which will need to be completed and returned. These documents form part of the contract paperwork that is sent to your buyer’s solicitor, so the sooner you complete these forms, the sooner the solicitor will have a full pack of information to work through and raise any enquiries they might have.

 

Alterations

In the property information form, you will be asked whether you have carried out any alterations to your property. If the answer is yes, return the form with copies of the relevant planning permissions, building regulation completion certificates and electrical and gas installation certificates attached. This will narrow down the amount of enquires that need to be raised by your buyer’s solicitor – and therefore will speed up the process.

 

Guarantees

The property information form will also ask if there are any existing guarantees for the property. If so, make sure to give them to your solicitor with your completed forms. For example, if the property is less than 10 years old, there should be a new home warranty and if you have had damp treatment carried out on the home, there should be a damp-proofing guarantee.

 

Any time spent getting the necessary paperwork prior to your sale or even as soon as the property is listed will pay off immensely in time saved once the lawyers are involved.

 

Survey

It’s highly advisable to have a survey carried out, and if you decide to, it is your responsibility to instruct the surveyor rather than your solicitor. It’s important to note that the surveyor may not be able to visit the property immediately, so it’s better to book the survey sooner rather than later. Once your survey has been conducted, the surveyor can prepare a report which may take a few days. As soon as you have received the report, you should forward a copy to your solicitor immediately as they may have to raise further enquiries with your seller, depending on the findings.

 

Mortgage

If you are purchasing with the aid of a mortgage, it is essential that you provide your lender with the documents that they have requested as soon as possible. This can range from ID documents to evidence of income, and they will not be able to issue a mortgage offer until these requirements have been met. 

 

Money

Upon exchange you will need to hand over the agreed deposit to your solicitor, so make sure the right amount of money is readily available and in the right account as you may be asked to transfer it to your solicitor at short notice.

 

Completion Date 

The buyer and seller should have agreed on how soon completion will take place after the exchange. This is something to start considering early on in the transaction as the exchange cannot go forward until a completion date has been agreed upon by both parties. Let your estate agent and solicitor know of any dates that need to be ruled out and any preferences you might have for timing. This will eliminate the need to negotiate on dates in the final stages when everyone is eager to get moving.

 

Are you thinking of selling your home? Get started on your property journey today by arranging an up-to-date valuation.