Property News > Moving Home and Cutting Costs

Moving Home and Cutting Costs

Interest rates have seen a further cut today with the announcement by the Bank of England that the base rate will be lowered to 5%. But the recent series of cuts is not filtering through to the mortgage market, where loans are in short supply.If you are moving home you will probably need to look at costs carefully. Your mortgage might cost you more, and you may not achieve the original asking price for your home. It is surprising, especially in this economic climate, that few people bother to prepare a budget for their move and even fewer remember to include everything they should. Naturally, anyone's costs can escalate out of control if they get carried away with the credit card, so here are some top tips to help you keep your finances under check:Getting your existing home ready to sell might cost more than you thought. Buyers today are fussy about what they buy, and in a slow market they can afford to be!  A pot of paint and new cushions won't cost much, but if you need to change the avocado bathroom suite, landscape the front garden and replace the rotten window frames you'll be looking at thousands of pounds. Property Rescue buy houses as they see them. In the current market, that's great news! If you are selling on the open market you will need a Home Information Pack, which can cost several hundred pounds to prepare. HIPs are now obligatory on all property types unless you sell privately. Selling to Property Rescue classifies as a private sale and therefore saves you this cost. Shop around for your estate agent. Don't necessarily go for the lowest price (a low price is useless if he or she can't sell your home) but find out what the market rate is and try to negotiate a deal that at least matches it. In today's market fewer houses are being sold so the agents will want your business. Do the same with removal firms. Unless you are completely satisfied you will get a good job it might be sensible to avoid the 'man with a van', but do get quotes from several different companies. Find out what insurance cover they offer and remember that large or valuable items sometimes need a specialist remover. If you don't have a great deal of furniture, consider hiring a van and enlisting the help of friends for the day. Choose your solicitor with care. Any solicitor worth his or her salt will be prepared to give you a quotation for conveyancing fees so make use of this service. Best of all, get a recommendation from a friend - their experience is likely to be representative of how you will be treated. Choose someone with whom you can communicate easily and who will keep you informed every step of the way. You will have to pay fees on selling and buying, unless you sell through Property Rescue when legal fees on your sale are included in their valuation for your home. If you're buying a brand new home remember that nothing will be left behind by a previous owner. This might seem like good news, but it probably means you'll have no lampshades, no carpets, no curtains, no blinds, no curtain poles and no washing line. Put something in your budget for these items; look for cheap blinds and laminate flooring from DIY stores to provide an adequate solution whilst you save up for your silk drapes and hardwood floor!Property Rescue buys houses of all types, in all locations and in all conditions. The valuation they give on your home is fully inclusive. Call today to see how their service can provide a quick easy way to achieve a guaranteed sale.Interest rates have seen a further cut today with the announcement by the Bank of England that the base rate will be lowered to 5%. But the recent series of cuts is not filtering through to the mortgage market, where loans are in short supply.If you are moving home you will probably need to look at costs carefully. Your mortgage might cost you more, and you may not achieve the original asking price for your home. It is surprising, especially in this economic climate, that few people bother to prepare a budget for their move and even fewer remember to include everything they should. Naturally, anyone's costs can escalate out of control if they get carried away with the credit card, so here are some top tips to help you keep your finances under check:
  1. Getting your existing home ready to sell might cost more than you thought. Buyers today are fussy about what they buy, and in a slow market they can afford to be!  A pot of paint and new cushions won't cost much, but if you need to change the avocado bathroom suite, landscape the front garden and replace the rotten window frames you'll be looking at thousands of pounds. Property Rescue buy houses as they see them. In the current market, that's great news!
  2. If you are selling on the open market you will need a Home Information Pack, which can cost several hundred pounds to prepare. HIPs are now obligatory on all property types unless you sell privately. Selling to Property Rescue classifies as a private sale and therefore saves you this cost.
  3. Shop around for your estate agent. Don't necessarily go for the lowest price (a low price is useless if he or she can't sell your home) but find out what the market rate is and try to negotiate a deal that at least matches it. In today's market fewer houses are being sold so the agents will want your business.
  4. Do the same with removal firms. Unless you are completely satisfied you will get a good job it might be sensible to avoid the 'man with a van', but do get quotes from several different companies. Find out what insurance cover they offer and remember that large or valuable items sometimes need a specialist remover. If you don't have a great deal of furniture, consider hiring a van and enlisting the help of friends for the day.
  5. Choose your solicitor with care. Any solicitor worth his or her salt will be prepared to give you a quotation for conveyancing fees so make use of this service. Best of all, get a recommendation from a friend - their experience is likely to be representative of how you will be treated. Choose someone with whom you can communicate easily and who will keep you informed every step of the way. You will have to pay fees on selling and buying, unless you sell through Property Rescue when legal fees on your sale are included in their valuation for your home.
  6. If you're buying a brand new home remember that nothing will be left behind by a previous owner. This might seem like good news, but it probably means you'll have no lampshades, no carpets, no curtains, no blinds, no curtain poles and no washing line. Put something in your budget for these items; look for cheap blinds and laminate flooring from DIY stores to provide an adequate solution whilst you save up for your silk drapes and hardwood floor!
Property Rescue buys houses of all types, in all locations and in all conditions. The valuation they give on your home is fully inclusive. Call today to see how their service can provide a quick easy way to achieve a guaranteed sale.

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