July 2021 – Fourth Wall

We’ll start with extensions. If you do have access to a chunk of savings, or home improvement finance options, an extension is a great option. We have a full guide to extensions here, as there are so many options. From single storey to double storey, side, back or wraparound, the key to consider is what the extension will add to your home. Desirable features for buyers are often multiple bedrooms, an open plan kitchen-diner, and particularly in the current climate, office space. Think about why an extension would be appealing to your buyers. For example, if you live in a great school catchment, look at adding bedrooms to appeal to growing families.

If you don’t have the space to extend outwards, you may well have unused space ready and waiting above or below you. Loft and basement conversions are great options to use the empty space you have available and turn it into a functional extension of the home. Attic bedrooms are a great addition, adding thousands in value to your home, and extending the pool of potential buyers from couples looking for a 2 bed to growing families needing a good 3 bed home. There are of course considerations, such as roof height, access and light, but that’s where the experts come in. As with any alteration, it can be costly, but if you have a good sized space you think can turn from unused to functional, loft and basement conversions are definitely something to consider.

We’ll go down to some smaller, but still very impactful, updates you can make. Quality kitchens and bathrooms are pretty much always of interest to buyers. The kitchen to us is the heart of the home, and bringing it up to a better standard can seriously pay when it comes to the value of your home. According to the Royal Institute of Chartered Surveyors (RICS) a new kitchen or bathroom can add around 4% to the value of a property. As key areas of the home, a modern yet functional kitchen and bathroom is a key factor new buyers will look for, and can be done on a whole range of budgets.

This may seem simple, or may even be something you’ve overlooked, but if you don’t have double or triple glazing then get it done! Thermal upgrades are important for a significant number of homeowners, with double or triple glazed windows and doors seen as essential items, and not having these could really lower the value of your property. If you haven’t added these, along with roof and wall insulation, it’s something we’d definitely recommend looking into to add value to your home. Not only are they desirable features, but they’re key to reducing ever growing household bills.

Along with basic thermal upgrades to reduce bills, we believe more environmentally friendly choices will continue to soar in popularity among homeowners and prospective buyers. Solar panels and ground source heat pumps are just some of the improvements you can make, and whilst initially appearing costly, they can significantly reduce the costs associated with your home and increase the value of the property when you come to sell. There are a number of environmentally conscious materials coming to the fore in property and it’s definitely something for sellers and buyers to consider moving forward.

As always, get in touch if you want to discuss your options. We’re brimming with ideas and offer a range of services from surveying to architectural design to really help you get the most out of your space.

After weeks spent scrolling Rightmove and Saturdays spent on house viewings, you’ve finally found a property you LOVE so it’s time to get that offer accepted and move forward with your purchase.

If this is your first home or it’s just been a while since you last sold, we’ve put together a guide to the process of buying a new home to make things a little clearer for you and take some stress away.

Search for your new home

Before you begin searching, make sure you’ve saved enough for your deposit, have checked how big a mortgage you can borrow from the bank, and are sure you’ll be able to afford the repayments.

Speaking to a mortgage advisor can really help you understand how much you can borrow, and aid you arranging an agreement in principle from a suitable bank so you understand what price range you can view and how much you can offer.

Make your offer and have the house taken off the market

Give as much detail as possible when making your offer. The estate agent will want to know you can definitely afford the offer you’re making, and other factors may be of interest to the seller such as if you’re a first time buyer or if you’re in a chain.

Some agents will do it automatically but others may not so make sure to ask to have the house taken off the market as a condition of your offer. If not, you could end up ‘gazumped’, where another buyer offers more money than you and the seller backs out of your deal.

Instruct a conveyancer (solicitor)

Once your offer has been accepted it’s time to instruct a conveyancer and really get the purchase moving. A purchase is typically advised to take 8 weeks but there may be holdups along the way that can make the process longer by a fair few months. We’d advise keeping in regular contact with your solicitor to make sure you know what’s happening and when.

Apply for your mortgage

You should already have your mortgage in principle but it’s now time to apply for the real thing. If you’re using a mortgage advisor, they’ll prepare you and ask for the relevant documentation, but if not, ask the bank you’re applying with what you’ll need such as bank statements, pay slips (or accounts if you’re self-employed), identification and proof of deposit.

The bank will very likely carry out a valuation survey at this point, but remember this is not a building survey and will not highlight issues beyond high level observations which might affect the value. The valuation surveyor here is working on behalf of the bank so to get a thorough overview of the property from someone impartial, make sure to instruct a Chartered Building Surveyor.

Instruct a building surveyor

Make sure this one is on your list early on. It’s so important to really understand the property you’re buying, this is probably the biggest purchase you’ll ever make. Instruct a Chartered Building Surveyor accredited by the Royal Institution of Chartered Surveyors (RICS) to conduct a homebuyers report or a full building survey. We have a full guide to which survey is best for you here but do get in touch with any questions.

A Chartered Surveyor will be working for you and only you to ensure you fully understand the property you’re buying and any issues it may have. They’ll spend time at the property conducting a visual inspection of all internal and external areas so they can explain any issues and advise on remedial works. We want to support you as much as we can, so we’ll always offer follow up calls to talk any questions through and advise on your next steps.

Our report may also raise additional queries for your solicitor, or may help them when setting out their enquiries for the seller, so it could be beneficial to instruct your surveyor when you’ve instructed your solicitor. Unlike other reports, Fourth Wall’s bespoke building survey reports include an Executive Summary that can be sent straight to your solicitor so they can see the key findings quickly and raise any necessary enquiries.

Discuss the findings of your survey and searches with your solicitor and make necessary enquiries to the seller

Your surveyor may suggest some further enquiries for your solicitor to make, such as boundary walls, historical party wall disputes and planning permission. Our bespoke building survey comes with an executive summary that can be sent straight to your solicitor so they can see issues, remedial works and necessary enquiries quickly and clearly.

Hire a removal company

It’s time to get packing! With your survey and searches done, start prepping for exchange and completion by contacting some removals companies. The property market is extremely busy so don’t leave this until the last minute!

Pay your deposit, exchange contracts and arrange completion

Once you’ve exchanged, you’re legally bound to the purchase so make sure you’re happy with the enquiries and your understanding of the property before you say yes at this point. This is also a good time to look at buildings insurance as you’ll now have responsibility for the property.

Complete on your property, pay your solicitor and stamp duty if necessary, and collect your keys

When you exchange contracts all parties will agree a completion day. This is the most exciting part as you count down the days to the move into your brand new home. The less exciting bit is seeing all that money leave your account, but it’s all worth it!

Give yourself time to settle in, and then instruct a surveyor or architect if you’re looking to make changes to your new home

You’ve moved in and started unpacking, but now your mind is racing with all the exciting updates you can make to your new home. Give yourself some time to settle in your home and understand what you’d like from the space, and then get in touch so we can help you design your dream home!