IS 2016 A GOOD TIME TO SELL?
2016 is the Chinese year of the monkey, but we’re not expecting fun and games! As estate agents with our fingers on the pulse of the property market, we think this Spring represents one of the best years to sell for some time. The Spring market of 2015 was affected by the General Election and 2014 saw an Autumn slowdown caused by the Scottish Referendum. Looking ahead, the Euro Referendum in 2017 might have a similar effect on the market next year, so 2016 seems relatively event free, unless the government decide to bring forward the vote on European membership! No-one has a crystal ball but we - in the property field - think this year looks very promising.
There seems to be no doubt that nationally, the country is suffering from a shortage of appropriate accommodation coming to the market. In this part of Wiltshire, to ensure you have the best chance of securing your dream home, you really have to be in a good buying position. To an estate agent this means being:
A cash buyer with no property chain Or Under offer with as short a chain as possible
If you need a mortgage, it is vital to get all your finances in position before making offers on any property as, depending on your personal circumstances, it can now be a very protracted affair to get a mortgage in principle with no guarantee that a mortgage offer is forthcoming at the end your application process!
BUY TO LET OR NOT!
Would be landlords should be aware that new regulations mean that if you buy a second home you could be liable for the buy-to-let stamp duty surcharge. From 1st April 2016, the rates of stamp duty increase if you intend to let out the property. It may be a good time to buy, if landlords decide the new charge will affect the value of their property and try to sell before the deadline!
ASK THE PROFESSIONALS
Our experienced teams would be happy to answer your questions on buying, letting, selling and property management. Don’t worry there’s no charge, we’re here to help!