With the stamp duty holiday encouraging significant activity in the housing market, many people across the country are preparing for a move.
At Stones Residential, we are pleased to say we have helped many people move in and around Belsize Park. If you have any questions about the moving process, we are more than happy to hear them, and assist you.
We also stay in touch with the latest studies and research in the housing market. Zoopla has recently spoke to more than 2,600 active buyers and vendors, asking them what things they wish they had known before they purchased a property.
Tom Parker is the Consumer Spokesperson at Zoopla, and he said: “Moving home is one of the biggest investments many of us will ever make so it’s only natural the process inspires a wide range of emotions.”
There is an emotional cost of moving home
62% of respondents said they found moving home to be a more stressful activity than they expected it to be. The average time for a property transaction to be concluded is 14 weeks, and it is fair to say there are many ups and downs in that time-frame.
11% of respondents said the buying process ran smoothly, which suggests a sizable proportion of people weren’t entirely satisfied with the moving process. 18% of respondents said they lost or nearly lost their home due to being part of a property chain.
You must be prepared for the financial cost of moving
While people know buying a home is an expensive activity, are you prepared for hidden costs? 39% of respondents said they were surprised at the additional costs of moving home.
44% of respondents said they had to manage unexpected costs of more than £500 while 30% of respondents overspent by more than £1,500. 15% of respondents said they spent more than £1,500 than they expected to.
What do buyers wish they knew or did before moving?
With 46% of respondents saying they wish they did more research before moving into a new home, here are the most commonly cited aspects people say they would do if they moved again:
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Speak to neighbours
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Review the broadband speed in the area
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Check the mobile phone signal
What do vendors wish they knew or did before selling?
There are also commonly cited factors which vendors wish they did before selling their home, including:
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Spending more time staging the property for viewings
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Spending more time decluttering the property
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Start the sales process sooner
Tom Parker from Zoopla added: “Finding that balance between head and heart can often be the most difficult, such as deciding whether to throw out certain possessions you may no longer use but have had for years, or being emotionally invested in the price your property sells for.”
If you would like to arrange an appointment to help you negotiate the local housing market, please contact Stones Residential today by calling us on 020 7483 0685 or emailing belsizepark@stonesresidential.co.uk.
