Tag: Sale

Finding the right property; where do I begin?

Finding the Right Property; Where Do I Begin?

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Buying a property is scary business, especially if you haven’t done it before. It’s the biggest purchase of your life so far and if you mess up, the consequences are dire. You’ve been given advice by family, you’ve Googled the pitfalls but you’re missing the critical piece of advice you need. Where on earth do you begin this daunting process? Where do you start your search and more importantly, how can you be sure you’ll get it right? Pour yourself a cuppa, grab a notepad and give this a read, you’ll be thankful for our tips when it’s all over. We hope you’re taking notes!

Start Your Search Online

Stop looking in estate agent windows, you’re only limiting yourself to their cherry picked bunch. Jump onto a renowned property search site and start analysing the market. Yes, you read that right… analyse the market! For first-time buyers in particular, getting to know the market is essential.

This is a serious consideration you’re making, so start doing your research. Online search sites are ideal for this. How quickly do properties stay on the market? How commonly do they become available? What in particular are you looking for? Is this type of property readily available? It’s always best to have an idea of market trends before you jump deep into your search. It’s worth remembering at this point that asking prices are always optimistic, this is not likely to be the price you’ll offer.

Time to See an Estate Agent

Okay, so now it’s time for the estate agent. Despite starting your search online, it’s always necessary to talk to a few estate agents. Some properties aren’t shared online and can often be snapped up quickly. It’s worthwhile explaining your search parameters and budget. They’ll be able to tell you how realistic your hunt is and what the local competition is like. It’s important to come across personable, friendly and serious about buying. Estate agents will see many buyers just like you. Ideally, you want to be the first person they call when an appropriate property comes up. If an estate agent thinks you’re serious enough, they could even do some of the house hunting for you.

What Are Houses Actually Selling For?

It’s no longer difficult to find out what a property has actually sold for. You can check this online for free. This is important to find out as it’ll give you a good idea of the disparity between asking prices and accepted offered price. It’s worth remembering that house prices will rise and fall drastically. Some people may predict how things will head though you should never take their predictions as a certainty.

Stock Up On Sandbags

What’s the area’s risk of flooding? It sounds like something simple to check but if you neglect to look into this, it could have terrible consequences. If the area you’re seeking is in a flood risk zone, your insurance will be dramatically affected. You’ll also face the possibility of losing your entire life’s possessions every year. This isn’t something you want to find out the hard way. In a few clicks, you can find detailed reports from the Environment Agency (England and Wales) or Environment Protection Agency (Scotland) on whether an area is at risk of floods.

What Does the Future Hold?

Your prospective neighbourhood looks beautiful and peaceful but will it soon be a building site? It’s worthwhile knowing that you can actually check what planning applications have been made in your area. If you’re in England and Wales, head over to the Government’s Planning Portal to find out what’s happening around you.

Ask Questions

When you’re looking for the right property, it’s worth asking a few difficult questions of the seller. You’re perfectly entitled to do this though some people find it difficult. MoneySavingExpert.Com suggest a few questions that’ll squeeze sellers for information and make them squirm a little:
• How many viewings has it had?
• How many offers has it had?
• How long has it been on the market?
• Can I see electrical and gas installation checks/reports?
• How long is the lease (if it has one)?
• Have there been any neighbour disputes?
• Why are the vendors moving and are they sure they want to sell now?
• What renovations have been done?
• How old is the boiler and when was it last inspected?
• When was it last rewired?
• Where are the vendors moving? Is there a chain?
• If it’s a leasehold, how much are service charges?
• Who are the neighbours?
• How long has the seller lived there?
• What’s included in the sale? White goods? Curtains? Wood burner?
• Is there an allotted parking space/residents’ parking?
• If there’s a real fireplace, is it safe to use?
• Have there been any subsidence problems?
• What’s the council tax band?

Have you researched the Area?

This sounds like a silly question but there’s a lot more to it than you might think. Of course you can take a look at the area when you’re viewing and you can even visit at different times of day. Yet this won’t give you a genuine insight into what it’s like to actually live there. When you begin your property search, complete a simple Property Detective report to find the latest crime rates, schools, amenities, noise pollution, flight paths and much more. Find out what your area’s like here.

How do average house prices compare with Premier League player wages?

How Do Average House Prices Compare with Local Premier League Player Wages?

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Everyone knows that the disparity between a footballer’s wage and that of the general population is extraordinary. The salaries that players like Wayne Rooney and Sergio Aguero receive each week are somewhat stratospheric in comparison with the everyday man or woman. We then wondered what the difference would be between the average wage of a footballer at each Premier League club and the average property price for the local area. The findings were very interesting.

How We Worked It All Out

We started by looking at the final table for the 2015/16 season and then the average wage bill for that club, the highest paid player for each club and finally the average property price for the local area. For clubs like Leicester City or Sunderland we looked at the average property price for the whole city whereas for clubs like Tottenham and Chelsea we looked at the immediate area/borough.

Jamie Vardy’s Having a Party

Unless you’ve lived under a rock for the last year you’ll know of Leicester City’s monumental season. This was a year which saw a club that had been struggling in a relegation battle the season before, grow into a team that took on and beat the might of English football. Leicester City’s talismanic striker Jamie Vardy has recently become the club’s highest paid player with a staggering pay-out of £80,000 per week. The average property price in Leicester is £180,667 which means Vardy would only have to save his wages for three weeks in order to buy a city centre house outright.

London Prices Are High but Wages Are Higher

In London alone there are six Premier League clubs which have seen varying success throughout the season. This does have a correlation with each team’s performance in the league though Chelsea’s awful season, finishing 11th, has made them somewhat of an anomaly. Chelsea do top the table for the highest average property price (£1,814,583) and they also boast the second highest average wage (£78,280). Arsenal, who finished 2nd, pay an average of £68,958 per week to their players. High performing playmaker Mesut Ozil takes home £190,000 every week and would only have to hold onto a month’s wages to afford the Arsenal area’s average £675,697 property price. Now on to rivals Tottenham who stumbled in the race for the title and eventually sank to a still respectable 3rd. The property prices for the area are roughly £300,000 cheaper than that of Arsenal’s though their average wage bill sits only £2,000 higher than their rivals. This then leaves us with West Ham, Watford and Crystal Palace. Comparatively West Ham’s average wage was greater than that of the other two though the average property prices are grouped very close to each other; around the £330,000 – £370,000 mark.

North West Derby

This is where things get interesting. Manchester City and Manchester United finished 4th and 5th respectively in the Premier League with Liverpool trailing behind in 9th and Everton’s poor season willing them to a 12th place finish. The areas where both Manchester clubs reside have very similar average property prices, £173,197 for the sky blue side of the city and £178,851 for the red. Both of which tower above the modest £145,349 to pay for a property in Liverpool. The average player wages also follow this trend; Manchester City pay an average of £103,958 per week, Manchester United pay £77,611, Liverpool offer £58,888 while Everton trail again with £38,482. In relation to highest paid footballers at each club, Sergio Aguero of Manchester City and Wayne Rooney of United could buy the average property in Manchester with a week’s wages and still have money left to spend. Daniel Sturridge of Liverpool and Lukaku from Everton will have to save for two weeks if they wanted to buy a house outright.

Relegation Battle

So Newcastle, Norwich City and Aston Villa were all relegated but both Sunderland and Bournemouth sailed close to the wind. Bournemouth pay their players an average of £18,685 per week which is the lowest in the league. The market in Bournemouth does not reflect this, the seaside town is the most expensive property location outside of London for a Premier League player with an average cost of £248,388. Sunderland is the least expensive property location in the relegation battle and the third least expensive in the league (with only West Brom and Stoke City coming in cheaper). In comparison with rivals Newcastle United, Sunderland is on average £60,000 cheaper though both teams have very similar average weekly wage pay-outs. Norwich City pay out the third lowest wages in the league at an average of £24,480 but are the second most expensive place to buy property outside London with a house costing £208,454. Norwich City’s top earner Youssouf Mulumbu, would need to save his £40,000 a week wage for five weeks before being able to buy the average property outright. In comparison to this, Aston Villa pay out an average of £31,562 per week while a property in Birmingham will set you back around £168,062.

Premier League player wages compared with average local property prices

Want to know more about your local area? Find out everything you need to know including crime rates, schools, amenities, noise pollution, flight paths and much more with a Property Detective Report. Get yours here.