Recently, we ran a nationwide property survey hoping to explore people’s perceptions of the fast property buying industry and the house selling process. With respondents all across the UK ranging from Scotland to the Home Counties and Greater London, we’ve had some remarkable results, as we have listed below:
When asked what the preferred method of selling a house was, the majority of respondents indicated that they would like to do it via a local estate agent. Many underlined this desire with the perceived notion that local estate agents’ ‘local knowledge of the area’ would help them sell their house.
It is not surprising that the most traditional method of selling a property is the most preferred. However, many comments suggested they were put off estate agents due to their amount of fees they would be paying them and the slowness of the housing market, something that has heightened in the aftermath of the Brexit vote. This slowness is a reason why fast property buyers such as Vivo came into the market to offer a fast alternative and an easier way to sell your home. The fast buying industry has had many hiccups; as newest industries would have. Some new businesses took advantage of vulnerable house sellers and an early period of no regulation which gave fast property buyers a bad name. Luckily, organisations such as the Property Ombudsman came into play to regulate the industry and protect consumers. Here are our top tips and advice for when you are thinking of selling your house to a fast property buyer.
Still, unfamiliarity breeds concern. It’s human nature to be suspicious about new things. Hopefully regulated fast property buyers will soon be seen as equals to estate agents. Sellers can make their choice as to how they would like to sell but at least they have several options as opposed to only one option in the past. If you want to find out more about the differences between selling your home to a fast property buyer and estate agents, check out our comparative article here.
The results of the survey revealed that 55% of the people asked estimated that the average time to sell a house is between 3-6 months. As a company that can buy your house in 7 days – we certainly found this interesting! Often it can take longer than this on the open market with problems arising from breakdowns in the selling chains. Plus, with the extra amount of time you have to wait to sell your home, the utility bills can really add up! Sadly, it often takes over 6 months to almost a year to sell your home on the open market. Hopefully, the manners in which to sell your home is ever expanding, so the traditional way may not be your only option from now on.
The survey also asked people what their most important factor was when they are selling a house. ‘Getting the highest price’ was ranked the most important while ‘Speed’ came second. We believe that herein lies the conflict what the stresses of selling a house as they often conflict with one another. The biggest issue with ‘the highest price’ is that a property is worth what someone is willing to pay for it. Nobody has the correct answer for what a house is worth and how much it will sell for. This leads to a delay in the house selling process – where a person waiting for the ‘highest price’ will have to pay the monthly mortgage payment, council tax and utility bills which often will eat up their margins. The benefit of prioritising a guaranteed sale means that you can get a cash offer and sell your house fast. This reduces turnaround time and saves you money and stress, allowing you to start your next adventure.
Perhaps the biggest finding of the survey is that people found the prospect of selling a house to be the most stressful life event. Respondents were asked to rank five life events in order (1 being the most stressful) of ‘stressfulness’ in which selling a home was determined to be more stressful than having a baby, buying a home or starting a new job. As fast property buyers, we completely emphasise with your situation – this is the reason we started Vivo Property Buyers in the first place! To give sellers an alternative to the pitfalls of the open market which is often long, daunting and prone to breaking down. Moreover, your home is generally your biggest asset and renders a large emotional attachment, plus it is not something you will do regularly so it can be quite daunting. Hopefully, by selling your house fast to Vivo it will give you the peace of mind of a guaranteed sale combined with a huge amount of flexibility.
We aim to make selling a house an enjoyable, stress-free experience.
While not strictly related to the property industry, our survey also found out that men find the prospect of having a baby more stressful than women. Respondents were asked to rank the aforementioned six life events in order of how stressful they thought they were. Interestingly men ranked the prospect of having a baby as the most stressful while women position selling a house as the most stressful life event, with having a baby only third. We were surprised at this fact, especially as men ‘having’ a baby may be somewhat different to women! Perhaps this is an indication of the modern men’s growing role in raising a child…
We would like to thank everyone that took part in our survey and it was great to find out so many insights into the property industry. If you are looking to sell your home fast in a flexible, stress-free way, why don’t you get in touch with us and we can make you an offer in under an hour!
With the changes in stamp duty in April 2016 and Britain voting to leave the EU, the stage is set for a 2016 with dampened house prices.
Uncertainty in the UK economy internationally and domestically has made many people uneasy about making investment decisions. This unease is particularly evident in the commercial property sector, where as many as seven investment funds have been put on hold or are seeing partners trying to withdraw. Despite this, the same cannot be said for
wealthy foreign investors trading in US Dollar recently. London has seen a rapid period of property transactions with buyers quickly jumping at the chance to buy up prime London property with their sudden Dollar to Pound advantage. However, for the vast majority of the UK which isn’t buying and selling prime London property, some have been struggling to sell.
So how does this impact you?
Recent Savills research suggests a low transaction market with cautious buyers. For lenders, it’s business as usual at the moment, but this could change due to them tightening their lending criteria if “downside risks persist”. At Vivo Property Buyers, we see this as a potential slowdown in the market where values are likely to fall and buyers for your home are likely to become more cautious in the next 6 – 12 months. Therefore, risks of a buyer pulling out for your home could be greater than ever and the price you can sell at may erode when by the time you find another buyer.
So, if you’re worried about your buyer pulling out and getting a lower price in the future, Vivo Property Buyers could be a solution for you. We can buy your home within the timeframe you need and allow you to move on into your next property; it’s simple, fast and takes all the stress out of the Brexit effects on the market. If you want to find out more about the differences of using a fast property buyer compared to a traditional estates agents, read our article here.
To get started, just fill in this quick form or call us on 0800 773 4922. We guarantee the sale, pay all of the fees and you’ll always have direct contact with us with no middlemen.
We’ll be adding a personal touch to our regular Vivo property advice this month. As part of our own home improvement, we thought we’d share our new addition – a garden office!
We needed some extra space in our home for work but, instead of asking for planning permission for an extension, we opted for a garden office which can double as a space to relax too. I’m sure anyone who chooses to work at home will know that there can be some drawbacks despite the obvious benefits. When working at home, it can be difficult to switch off at the end of the day and having everything to do with work around you can be distracting. Our new purpose built space in the garden helps put both of us in ‘work mode’ and keeps all our important stuff away from the kids for peace of mind. Despite our commute being increased by thirty seconds, it has really improved our work life balance.
This is a great home improvement option if you have space in the garden and the sums add up for you. A study reported by the Independent suggests adding a garden office to your property should add around 5% to its value. With the average house price now reaching £288,000, that could be an extra £14,400 you can add to the asking price for your home along with another eye-catching picture with the listing.
After some searching, we decided on Green Studios with their ‘Home Office Pod’ and we love it!
Green studios offered custom made buildings where you can choose the size, shape, number of windows and type of roof etc. We chose this size as it fits well and leaves some space to spare for the lawn. We wanted a lot of windows to maximise light and give it a more spacious feel. The roof is sedum and it looks really lovely, gives it a very natural feel and makes it blend into the garden perfectly. Inside we went for wooden floors and dimmable lighting which can be operated with a remote from inside the house.
If you want to sell your house but don’t want to pay for home improvements, Vivo property buyers specialises in buying homes fast in London and in the south-east. We buy homes in any condition, so If you’re struggling to sell your home within the timeline you need or want to avoid the hassle of the open market then use our quick form for a free quote. We’re a great solution for anyone looking to sell houses fast. To see why you should choose us, click here.
As fast property buyers we often buy houses to help people in difficult situations, which can sometimes be financially related. We understand how difficult it is to have to sell your home to help with debts and that’s why we let our clients stay in their house for a few weeks to give them time to get back on their feet. This is also why we are very proud to announce that we are now supporting Alone in London as our chosen charity; a wonderful organisation that helps vulnerable young people in London who are on the brink of homelessness.
Not only do they support young adults by helping them find accommodation, they also work with them to develop a long term solution to their problems – whether that is helping them make positive life choices, or developing their skills to give them a foundation to thrive and grow in the world.
As a property company which often deals with people in a variety of situations, we were drawn to Alone in London as we share their values and believe that the home is such an important aspect of everyone’s lives, particularly young people who need support to have a positive future.
With donations like ours, Alone in London can continue their fantastic work supporting vulnerable young people facing homelessness in the capital. If you are interested in making a donation you can do so on their website.
House prices, a key driver of the UK’s consumer economy, are continually fluctuating and remain somewhat of an obsession, with more homeowners tempted to learn the value of their property and sell their house quickly.
So what will happen next in the property market? Vivo Property Buyers’ founder, Rupert Beak, reveals his predictions for 2015.
The bubble won’t burst
Previous trends in the property market lead us to believe that the bubble isn’t going to burst just yet. Instead, we envisage it gently deflating over the next couple of years at a much more manageable pace.
Your money will be safest in the South East
With Londoners moving out of the city in search of better value for money, the South-East in general will start to see a significant rise in property prices.
Money will be best spent in the Home Counties where buyers can look to get a return of over 26% by 2019. The East of England is also set to perform well with a return of 25%.
1-3% growth in London
While a lot of professional bodies predict no further growth in London this year, we’re anticipating a 1-3% increase in the capital.
4% average increase in the UK
We foresee the rest of the UK outperforming London with an average rise of 4%.
London property prices will drop
If a mansion tax comes into play, this is highly likely to have a negative effect on the value of properties in and around London.
We just wanted to let you know about a letter which was sent around by The Office Of Fair Trading in regards to the new regulations for quick house sale companies, and to reassure you that our work is perfectly in line with these.
Essentially, the letter outlines the need for us to comply with the following regulations:
While we’re already working in line with the above regulations, the same cannot be said for every quick house sale company. So, if you’re considering selling your house to a property buying company it’s well worth doing your research and checking that they’re not only complying with these regulations but are also registered with The Property Ombudsman Scheme.
You can read the whole letter here.