Category: property

How to be a successful first-time home buyer

How to be a successful first-time home buyer

Ready to buy a house? Being a first-time home buyer means you could be intimidated by the process. But don’t worry. If you follow these steps, you’ll have a much easier time and be more likely to find success as a first-time home buyer.

Start your home-buying journey with a clear, end-to-end understanding of what lies ahead. For a detailed walkthrough of the entire process, a comprehensive first-time home buyer guide can be an invaluable resource to set your expectations and prepare you for each upcoming step.

Illustration depicting saving

Start saving early

Saving early is a great way to accumulate the funds needed for your down payment. There are many ways you can do this, such as opening a savings account and setting up an automatic transfer from your checking each month or putting money away in other investments so that it will grow over time.

The following are tips for saving money for a deposit:

First, open a savings account and set up automatic monthly transfers from your current account. Or, if you have investments that pay interest on a quarterly or annual basis, use those proceeds instead of putting them in the bank, where they will earn a little-to-no return.

Set reasonable and attainable goals. It would be unrealistic to expect to save enough for 20% of the purchase price of a house within two years without making sacrifices such as forgoing holidays or dining out less frequently. In this case, it may make more sense to shoot for less than 15%, so you have more breathing room in your budget.

Create a ‘rainy day’ fund that will cover at least three months of the mortgage, property tax and insurance payments if you lose your job or experience some other unexpected financial hardship.

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Research on market trends

Market trends can be a valuable resource for first-time home buyers. By researching market trends, you can understand what neighbourhoods are growing in value and might be a good investment. You can also find out how long homes are staying on the market, giving you an idea of whether now is a good time to buy. Market trends can be a great predictor of growth and help you decide where to invest your money.

It is important to view property market update reports every six months to ensure you are staying on top of any changes in the market.

A real estate agent can also help with prices and trends by providing information about what other homes have sold for recently and pointing out areas that might be growing quickly.

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Decide how much home you can afford

Your budget is one of the most important factors when buying a home. It would help if you decided how much you can afford to spend on a mortgage each month and other associated costs such as home owner’s insurance and property taxes. It’s essential to be realistic about what you can afford and not overextend yourself financially. You don’t want to be house-poor and unable to enjoy your new home because you’re struggling to make your monthly payments.

Use an online calculator or speak with a lender to figure out exactly how much you can afford. They will help you determine how much money you can borrow based on your income and debts. Be sure to factor in all of the associated costs of home ownership, including closing costs and moving expenses.

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Check and strengthen your credit

Your credit is essential in determining your interest rate and whether you qualify for a loan.

Check with the major credit bureaus such as Experian, TransUnion, or Equifax to get copies of your reports. Make sure all information is correct before applying for a loan. If there are any errors, contact them immediately to be corrected quickly. It’s also recommended that you have someone else look over them to double-check every detail. The more accurate these reports are, the better because it shows lenders that you pay your bills on time, positively reflecting upon potential buyers who want low rates but don’t have good credit histories due to past financial problems or other issues related to their personal lives.

Also, take advantage of free annual credit report offers from the government by visiting annualcreditreport.com

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Explore mortgage options

It is essential to look at your different mortgage options when buying a home. You should compare the interest rates, fees, and terms of other mortgages to find the best one for you. Be sure to ask your mortgage lender about all the options available to you.

If you are looking for a low-interest mortgage, you may want to consider a fixed-rate mortgage. With this type of mortgage, your interest rate will stay the same for the entire term of your loan. This can be helpful if you plan on staying in your home for a long time.

Whatever type of mortgage you choose, make sure to compare the different rates and fees from different lenders. This can help you save money on your home purchase.

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Conclusion

Being a first-time home buyer can be daunting. Many people are worried about making the wrong decision and regretting it years down the line. However, if you follow these tips, your chances of buying a home that will meet both your needs and wants are significantly increased.

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5 early signs of damp in your home (and what to do about it)

5 early signs of damp in your home (and what to do about it)

While some places are more susceptible to damp, it can strike anywhere. It doesn’t discriminate. And it can have devastating effects on your home and even your health in extreme cases. If you want to get ahead of damp and keep your house intact, you’ll need to know what to look out for.

So here’s everything you need to know; the signs of damp, what causes it, what kind it might be and, most importantly, what to do about it. Let’s get into it.

What are the causes of damp?

Damp is essentially condensation. And at this time of the year, that becomes more common. Temperatures fall, and condensation rises. That moisture on your windows in the morning can lead to mould and damp if left to develop unchecked.

But there are other causes of damp. If you’ve had a leaking pipe, that could be your culprit. And rising damp comes from the ground up if you have a damaged damp-proof course. Water can also make its way into your home from something as simple as a leaky window frame, blocked gutter, or dislodged roof tile.

At this point, if you have found that your roof is the issue, you may need to look into a roof replacement service. At the very least, it could be that you need to get some repairs done. Because even if you were to then tackle the damp, you need to ensure that it doesn’t come back!

5 early signs of damp to look out for

Knowing the causes of damp will enable you to keep an eye out for damp, especially if you’ve had leaking pipes. however, you still need to know the early signs of damp in your home.

  1. Marks

Dark marks and discoloured plaster are sure signs that damp is present or has been around in the past. If dark marks present themselves, always investigate further.

  1. Mustiness

Damp has a pretty distinctive smell; you won’t mistake it for anything else. It has an odour like mushrooms, mould and rotting wood. It can be one of the first signs of damp to present itself.

  1. Peeling

Peeling wallpaper can occur through dampness permeating your walls. While it could be a sign that you just need to redo your wallpaper, it’s always worth investigating further, just in case.

  1. Cold

Walls that are cold to the touch, or even wet, are a pretty obvious sign that you have a damp problem. You want internal walls to feel dry and warm to the touch.

  1. Condensation

As stated before, it’s the time of year when condensation on windows is pretty standard. However, if that condensation doesn’t clear or is excessive, you could be looking at a problem with damp. Left unchecked, any condensation can turn into mould and damp.

3 types of damp

Now you have the tools needed to identify damp; luckily, it’s pretty straightforward. Nonetheless, dealing with it effectively means you’ll have to determine the root cause of your damp problem.

  1. Condensation

Condensation is a widespread cause of damp issues. It’s caused by poor ventilation and heating. And primarily happens when the level of humidity in your home rises. Activities such as cooking and showering cause this to happen. The warm air then condenses on to cold surfaces like windows; there’s the cause of your condensation and damp.

While water on your windows is the most obvious sign, it can also cause decaying window frames, moulding paint and stained curtains.

  1. Penetrating

Penetrating damp is where water comes from outside and enters the house through walls. Most commonly, it’s due to a water leak. But it can also be caused by faulty or blocked guttering, failed pointing and cracked rendering.

  1. Rising

Rising damp happens when water enters your property from the ground upwards. Sure signs of rising damp include peeling paint, dark marks on plaster and spongy, decaying skirting boards.

What can you do about damp?

Now that you’re an expert on the signs and causes of damp, you’ll be wondering how do you tackle it effectively? Simple fixes like wiping down windows and keeping your home warm will solve any condensation issues.

For rising and penetrating damp, you’ll need to find the source of the problem and remedy it. If you’re still scratching your head because you can’t identify the source of the damp, get in the professionals and hire a damp proofing company. Damp can decimate your home, so it’s worth spending money to fix it.

Once the problem is corrected, look into ways to avoid the situation occurring again in the future. For example, bumping up your insulation, using a dehumidifier and upgrading your kitchen and bathroom ventilation will all help keep the prospect of damp returning low.

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Where are the best places to buy a home in Sheffield and why should you move there?

Where are the best places to buy a home in Sheffield and why should you move there?

It may surprise you to hear that unassuming Sheffield in South Yorkshire is actually the UK’s 4th largest city. When it comes to the northern town, your first thought is likely to be of the downtrodden, former industrial powerhouse and ‘Steel City’ depicted in the nineties film, The Full Monty or the 250 feet Tinsley cooling towers which were a focal point (or eyesore, depending on your point of view!) on the edge of the city from 1937 until 2008.

However, in reality, modern Sheffield couldn’t be further from this post-industrial image thanks to its re-emergence as an impressive Outdoor City – with over 250 parks and outdoor spaces to choose from and the stunning Peak District right on the doorstep – great transport links to the rest of the UK, low crime rates and great local amenities. Competitive house prices are also a big bonus!

Of course this hasn’t gone unnoticed by savvy home-buyers; the city saw the steepest rise in buyer interest across UK cities in 2020 and has been one of the most frequently searched locations for prospective home-owners in 2021 according to property experts Yopa.

So, when it comes to the city’s continued appeal, what does Sheffield have to offer prospective home-buyers and where are the best parts of the city to call home?

If you’re considering a move to Sheffield, you’ll be reassured to know that the city has frequently been hailed as one of the friendliest and safest places to live in the UK over the last few years with plenty of community events on offer such as the month-long Festival of the Outdoors and three-day music extravaganza, Tramlines.

The city has also been completed regenerated over the last 30 years with a great selection of high street shops (think Meadow Hall and Crystal Peaks) and independent retailers (Ecclesall Road is the go-to) and there are plenty of leisure facilities suitable for the whole family too, such as the Ice Sheffield ice rink and the Climbing Works indoor climbing centre. There are also a great range of theatres, arts galleries and museums to boot. Getting outdoors is easy too, with over 60% of the wider Sheffield area actually made up of rural countryside and terrain.

An extensive selection of schools and educational facilities also attract families to the city. Sheffield is home to around 141 primary schools and 28 secondary schools, three further education colleges and two highly rated universities; The University of Sheffield and Sheffield Hallam University.

For commuters, Sheffield’s central location and easy access to motorways such as the M1 plus a range of public transport options make it a bit of a winner too. Frequent rail services connect the city with hubs like Manchester, Leeds, Edinburgh and London. Sheffield itself can be traversed easily and quickly as well using the efficient tram network and local bus services. Airports Doncaster Sheffield Robin Hood, Manchester, Leeds/Bradford and East Midlands are also within easy reach.

Property prices in Sheffield are a key factor, of course, when it comes to the city’s popularity with home-owners. In the last 12 months, the overall average property price in Sheffield was a very competitive £231,340 when compared to the national average of £264,000. Prices in some areas of the city are even more impressive, averaging around £100,000.

So, where are the best areas in Sheffield to call home? Below are our top five spots to consider when it comes time to make the move.

Peace Gardens, Sheffield city centre

St Paul’s

Right in the heart of the city centre, St Paul’s has seen a massive transformation in recent years. Once a less desirable spot, the area is now full of tempting eateries and watering holes, great shops and amenities and luxurious purpose-built apartment complexes and offices.

Favoured more by young professionals and students than families given its busy city centre location, St Paul’s is also an ideal spot for first time buyers and buy-to-let owners thanks to its affordable property prices and high rental yields. Coming in at an average property price of around £150,000, St Paul’s is a definite contender in the list of Sheffield hotspots.

Crookes Valley Park, Sheffieldcredit

Crookes

The suburb of Crookes is around 1.5 miles and a convenient 20-minute walk from the centre of Sheffield making it very handy for the morning commute! The area is also an ideal spot for students and staff at the nearby University of Sheffield although Crookes is also popular with families thanks to great local schools, a well-stocked high street and amenities like Crookes Valley Park.

House prices are also very reasonable. The average overall price for the area over the last year was £229,506.

Tree-lined residential street in Fulwood, Sheffieldcredit

Fulwood

The leafy suburb of Fulwood is a popular all-rounder with prospective home-owners thanks to its great range of primary schools, picturesque views across the whole city and some high-quality eateries, pubs and clubs. Fulwood’s proximity to the city centre, which is only three miles away, makes it popular with those needing to do the daily commute too.

Whilst not the cheapest area of Sheffield with an average property price of £425,937 over the last 12 months, Fulwood still offers good value in comparison to pricey neighbours Whirlow and Greystones. Fans of Fulwood should also check out nearby Ranmoor which offers better value with an average house price of £403,116, although prices are rising steadily in the area year on year.

View of Ecclesall towards the parish church, Sheffieldcredit

Ecclesall

Like St Paul’s, central suburb, Ecclesall attract students, 20-somethings and young families thanks to its buzz and convenient links to the city centre. Ecclesall also offers better value for money than nearby suburbs Fulwood and Ranmoor. With an average property price of £381,324 in the last 12 months, Ecclesall is a popular spot with first time buyers and a good £20,000-£50,000 cheaper than its neighbours.

Residentail and commercial terrace with tramline in the foreground, Hillsborough, Sheffieldcredit

Hillsborough

The popular suburb of Hillsborough to the north west of the city centre is another great all-rounder with an impressive selection of schools, leisure facilities and local amenities on offer. Football fans will also appreciate the proximity to local side, Sheffield Wednesday’s stadium. Transport links (via train, bus, tram or car – take your pick!) will also have you in the city centre in a speedy 10 minutes.

One of Hillsborough’s biggest appeals is the excellent selection of affordable housing options. The average overall house price locally over the last 12 months was an impressive £180,013. One of the most affordable on our list.

For home-buyers whose budget may stretch a little further, Whirlow, in the south west, is set in a conservation area surrounded by acres of rural countryside and woodland. Alternatively, the picturesque village of Dore, 6 miles south west of Sheffield, has great schools, the Peak District on the doorstep and is a speedy 10-minute train journey into the city. Greystones, 3 miles south west from the city centre, is a little livelier with great local amenities, parks, schools and more affordable housing options than Dore and Whirlow.

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Property design trends that could lead the charge next year

Property design trends that could lead the charge next year

With the property market showing modest performance over the past few years, many investors are turning to alternative options like real estate investment trusts or purchasing pre-existing properties and remodelling them. In 2022, experts predict that a shift may also take place from private homes to a hybrid of industrial or commercial properties and residential properties.

Working from home set-up

Working from home culture shift

Many experts have been tipping this shift for some time now, but it has failed to materialise because of low-interest rates, which have made investing in residential property highly profitable. The pandemic has now created an opportunity where investors can capitalise on the work from home trend by creating multi-purpose facilities. This will create a subculture of individuals and small families opting to stay in apartments or smaller houses built close to offices or business hubs in the suburbs. Remote work has opened up a whole new era in the property sector, where coffee shops and restaurants have been doubling up as offices.

There’s a relatively new trend where freelancers can ‘rent-a-desk’ in an office building which is totally unrelated to their line of business. A kind of symbiotic relationship has developed between people, buildings and the purpose of said properties.

This post takes a look at property design trends that will come into play in 2022. Here’s a list of ten design trends that could lead the charge.

1) Open plan living – a growing trend amongst people who want to live an open and socially inclusive lifestyle. Open plan design essentially means that there’s no division between common spaces and private zones. This creates a lot of fluidity in the home, making it easier to live an almost communal lifestyle with friends and family easily popping in and out as they please.

2) Industrial – unique designs based on commonly used materials that are recycled and reused. Pre-existing elements of a room can be used to create a new dynamic look for a space. This is about stripping back elements of a room to make way for new ones.

3) Green roofs – people living in cities want to be surrounded by nature, so green roofing will become a popular trend for homes and office buildings. Going green is a great way to look after the planet while also creating an attractive, unique looking building.

4) Steel exteriors – based on the popularity of glass panels, builders have started using steel as a complementary or even alternative material. Steel has a unique texture and appearance that will lend an industrial or steam punk look to a building. Mixed with glass, steel panelling can create a unique look for buildings.

5) Wood interiors – wood is now being used as part of interior design, which can create a more natural atmosphere inside unique designs. Because wood is a natural material, it can be treated and shaped to make one-of-a-kind designs like furniture and decorative items. Wooden walls are also being used to create a warmer, cosier feel inside homes.

6) “Trapped” gardens – these allow home-owners to grow plants inside their homes or offices without having to worry about rising energy costs. Even though they’re not visible from the outside, they can be enjoyed from the inside, which is a great way to bring more nature into homes and buildings without compromising on aesthetics.

7) Unique lighting effects – uniqueness will become the main focus for most property owners who want to stand out from the crowd. Unique lighting effects will allow them to do just that as they can incorporate a touch of uniqueness into any space, whether private or common.

8) Upside-down homes – these are homes with living spaces on top and garages at the bottom or vice versa, giving home-owners different options for storage space. This is already popular in Japan, where they have limited land to build upon. Exterior elevators for moving between floors of a building are even installed at the exterior of the structure rather than inside. This is obviously more expensive and harder to make it look good, but it will give home-owners something unique and attractive to boast about.

9) Daylight basements – basements traditionally usually make use of artificial light, but these days people are looking to incorporate natural light as much as possible, making it perfect for multi-purpose rooms like an office, gym or home cinema. Daylight is best for these types of rooms which is why more homes are being built with basements that make use of natural light.

10) Alternative energy sources – solar panels are becoming popular in residential properties because they significantly reduce or even eliminate electricity bills depending on the size and power output. This comes in addition to promoting green practices, which will become more popular in the coming years. Combined with other green features such as air and ground source heat pumps, solar panels are perfect for making homes both attractive and practical.

Automated home

Fully automated homes

The rise of smart technology is making it possible for homes to be fully automated and controlled remotely through an app on your phone. This type of home is perfect for people who lead busy lives or work from home who need their homes to be as efficient and effective as possible. To close the loop on the new trend emerging where all you really need is a laptop and wi-fi, the need to be online kind of fast-tracked the development and roll-out of various smart devices and 24-hour connectivity.

It also impacted the way we live our daily lives, and this has influenced our sense of style. People are looking at efficiency combined with cosmetics and adaptability. Designers and architects are entering uncharted territory and they need to evolve or they’ll be left behind.

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The new normal is here to stay

There are many property design trends emerging which will change the way homes, office buildings, coffee shops and restaurants look in 2022. The common theme among these trends is to make it unique, attractive and functional for everyday life. Who knows, perhaps the ‘new normal’ is going to be more enjoyable than we thought!

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