Insurance Implications

Always make sure you have adequate insurance cover before carrying out home improvements. At MoneySupermarket.com you can compare and choose insurance policies which include legal cover and accidental damage should the work not go to plan.

Before starting any home improvements on this scale, check with your insurance company first to ensure that you are covered throughout the building work and afterwards.

Ways to add value

One of the best ways to add value and increase your home's selling price is to increase the amount of floor space by converting or adding rooms.  Any easy way to achieve this is to go upwards and covert the loft space into an extra bedroom and possibly squeeze in an en-suite bathroom, depending on the space. 

This is a great way to add space without too much disruption to the rest of the house while work is being carried out.

It is estimated that if you spent £20,000 on a good-quality loft conversion then you could add double this amount to the value of your home.

Another easy and quick way to extend your living space and add another room without too much disruption to the household is to build a conservatory out the back or side of the house.

However, make sure that the conservatory blends in with the style of the house and works with the existing space. If the conservatory leads off the kitchen, match up the flooring so that the space flows.

Adding a conservatory on to a house will add around seven per cent to its total value. Costs start at around £5,000 and can be as much as £30,000, depending on its size and the materials used.

If you live in a built-up area where parking is getting increasingly difficult, consider paving your front garden to create a much-needed parking space.

You may need planning permission and to have the kerb dropped, but concreting your front garden for about £10,000 could add up to £50,000 to the value of your home. This does depend, though, on your location and how sought after parking is.

When it comes to improving just one room in the house, concentrate you efforts on the kitchen to maximise your selling price and generally improve how you use the space.

Make sure that you get the kitchen professionally designed so that it is attractive but also practical, with everything positioned in the most efficient place.

The cost of the new kitchen should relate to the value of the house. For example, you will not get your money back from putting a £30,000 kitchen into a two-bedroom terrace worth £110,000.

Putting a suitable new kitchen into your home will increase its value by around 4.6 per cent and also create a great living space for the whole family.

Place family photos, trophies, wedding portraits, children’s paintings and anything else that could divert attention from your home’s best features, well out of sight. Things like this can be particularly distracting for house hunters – when they look round your home they want to imagine their life there, which can be a lot harder if you have your whole family history on display through a series of ornaments, pictures etc. Instead, deliberately placing mirrors at certain points can help viewers to see themselves in your home, quite literally – as well as reflecting more light into your rooms to make them appear brighter.

Inspire yourself by looking at interior design magazines and pay particular attention to how the photographers stage their rooms for photo shoots – notice that the accessories they use are impersonal, but aspirational – meaning that they allow people to fantasise about relaxing in the ‘scene’ of the shot. Why not try replacing your personal items with a few props and accessories to help create a mood in a similar fashion?

Would you like to know how to take excellent marketing photographs to sell your home? Read our helpful article for more information.

Come back tomorrow for the next item on our checklist of house-selling ‘don’ts’.

It is a fact that people often fail to notice the smell of their own home because they have grown so used to it. The smell of your home could be a turn-off for buyers, especially if you smoke or have pets. Make sure that you regularly open windows to keep fresh air circulating and don’t overdo it with air fresheners – viewers may wonder what you’re trying to mask. If you smoke, consider smoking outdoors while you are marketing your home, and move ashtrays out of sight. It may also be a good idea to have your carpets and soft furnishings professionally cleaned.

Cooking smells can be homey, but not all of them. Avoid cooking stinky fish dishes or fried or greasy food before your viewings. It’s a cliché but simple aromas like clean linen, freshly brewed coffee, cut flowers or just-baked bread really can help sell your home. 

Come back tomorrow for the next item on our checklist of house-selling ‘don’ts’, or read more suggestions on how to prepare your home for viewings, featured on our blog.

Image: hinnamsaisuy / FreeDigitalPhotos.net

Misrepresenting your home can be really frustrating to potential buyers; they will feel that their time has been wasted if your advert claimed your home was something that it really wasn’t. Equally, you are wasting your own time too by attracting the wrong type of person to view your property. There is nothing wrong with using sales-y language to make your home sound appealing, but to actually lie on your listing is illegal, and as soon as the viewers arrive, it will be clear that the advert was not honest.

The same rules apply when you are answering any questions from your buyer in person – honesty is generally the best policy. Always seek legal advice from your conveyancer if you are unsure.

For more about this subject, read our article about the 1991 Property Misdescriptions Act, and how it affects you.  

We hope you’ll come back tomorrow to read our final update on how not to sell your home.

Day 1: Don’t clean up 

One of the biggest mistakes you could make when you have a house viewing is forgetting to clean. Before you put your home on the market, give your home a thorough spring clean. Buyers are likely to be extra picky, noticing very small details that may otherwise be overlooked so it’s important that your home leaves no areas for criticism.

An easy way to begin preparing to market your home is to clean it from top to bottom. If house hunters see dusty surfaces and smudges on windows, it may give them the uneasy feeling that if the house isn’t clean, it may not have been properly cared for. Appearances do count for a lot, so a bit of extra effort could attract a faster sale and a higher asking price.

Read our house-cleaning tips on our blog. 

Visit us again tomorrow for the next instalment on our list of home-selling blunders.

Image: Stuart Miles / FreeDigitalPhotos.net

The number of loans for new house purchases was up 4% on January to 36,600, which is also up 17% on February 2011. More encouragingly, the number of loans made to first-time buyers was also on the increase, up by 8% on January, but also up a respectable 18% on the same period in 2011. The government backed NewBuy scheme just recently launched, is aimed at helping up to 100,000 people in England buy newly-built homes with a mortgage even if they cannot put down a 5% deposit, which is likely to increase the appetitive amongst first-time buyers in the months ahead even further.

However the outlook was not entirely positive - the CML warned like many other industry sources and commentators, that the rise may only be temporary now that the full amount of stamp duty is payable for first-time buyers. Other possible indicators of a slowdown ahead in mortgage lending comes from statistics showing that mortgages agreed in principle - but not actually lent on - are showing signs of decreasing.

Last month the Bank of England said that mortgage approvals, seen as a good indicator of short-term trends, fell by 15% in February to under 49,000, the lowest monthly figure recorded for eight months. Lenders have further warned the Bank of England that they expect to ration their mortgage lending even further in the coming months, further restricting possible sales. 

Image: phanlop88 / FreeDigitalPhotos.net

Image: dan / FreeDigitalPhotos.net 

One important thing to remember is that you are not obliged to always communicate with others in the chain via your estate agent. There are times when it may be much easier to pick up the phone and discuss matters directly with your buyer or seller. However, there are other times when you may need to call on the experience of your estate agent, who can be really helpful in getting your message across.

Because of this somewhat indistinct boundary, it can be hard to know when to contact your estate agent and when to contact your buyer or seller directly. To help out, here are some useful examples.

Good times to have direct contact with your buyer/seller:

• When you need to know something outside working hours. This is not to say that you should phone them up in the middle of the night! There are, however, some times when a quick answer can put your mind at rest and a simple phone call will save you worrying until the next working day – great if your particular worry crops up on a Friday at 5.31pm.

• If you are in a short chain. If you are buying a chain-free property, it may make things simpler to speak directly between yourselves. Do remember, though, that it is courteous to keep your estate agent up to date on major developments or changes of plan.

• You may decide that you would like to be present for your home viewings because you feel that you can do a better job showing viewers your home, seeing as you know its every nook and cranny, you are more likely to be able to speak accurately about its advantages and answer any questions that the viewer might have.

• Direct contact with your seller can create a rapport, and make them feel less inclined to let you down. This could give you an advantage, especially if a potential gazumper comes sniffing around.

Bad times to have direct contact with your buyer/seller:

• If you would like to negotiate a lower selling price. If your surveyor’s report or your solicitor’s searches suggest any potential issues with the property, you may wish to negotiate a lower price. You may find it less stressful to contact your estate agent first if this is the case.

• When you are stressed or anxious. Buying or selling a home can get stressful sometimes and when this happens it can be difficult to think rationally. At times like this it would be better to contact your estate agent and run your ideas by him or her than to contact your buyer or seller directly, as a hasty decision could potentially disrupt the whole transaction.

• If you are in a long property chain. If this is the case, it may be easier to use your estate agent as one central point of communication. This will greatly reduce the amount of people that you communicate with, thus reducing your stress and also your to-do list!

• If either party has any difficult enquiries. In this situation, you may wish your estate agent to act as an intermediary; this will give you time to mull things over before you commit yourself with your answer.

But, is this a good idea?

At the end of the day, it is most important to do what feels comfortable for you. Estate agents are there to help and can provide a great diplomatic safety net during negotiations, but communicating directly with other people in your chain can have a really positive outcome - some people even become friends with the person that bought their home and stay in touch for a long time after the transaction has completed. 

Now price comparison site Money Super Market has released the Top 20 locations in the UK that have seen the highest number of burglary home insurance claims.

Julie Fisher, head of home and contents insurance at Money Super Market said "Home is where the heart is, and a burglary is an emotional and frightening experience. However, being in a higher risk area doesn't necessarily mean where you live is rife with crime - many thieves will target more affluent areas purely for the rewards on offer."

London & Leeds worst hit areas

Unfortunately it is both London and Leeds who have been hit the hardest. Our nation’s capital has six areas in the top 20 whilst Leeds has five.

Stoke Newington in London tops the list as having the most claims for a break-in, whilst the postcode LS13 which covers Bramley, Rodley and Swinnow in Leeds was labelled the most ‘at risk’ area.

On the other side of the coin are those towns which have had no burglary claims over the last year. There are seventeen in total with Eastbourne, Newton-le-Willows, Cheadle and Penrith to name but a few.

How this affects your home insurance

When an insurer is working out your annual home insurance premium they will take into account a number of factors which include where you live and its history of crime.

They are simply accessing what risk is involved and usually take a blanket approach to the area concerned even if you have had no experience of a burglary.

This is where Julie Fisher disagrees with how premiums are worked out “In my view this really needs to change. If houses were evaluated on a case-by-case basis, it would mean homeowners received quotes at the best possible prices based on their individual circumstances."

Unfortunately until this changes every resident in a particularly ‘high risk’ area will be tarnished with the same brush.

Take a look at the infographic to see if you live in or near a burglary hotspot. If so you could see your premiums rising in the near future, if that is the case use a comparison service to compare home insurance quotes or visit the reallymoving home insurance calculator to find the right deal for you.

Reallymoving.com is now offering home insurance.

1.     Choose a Reliable Removal Company

When you have most of your household to move abroad, it's worth finding a reliable moving company that is experienced with international removals. You should take your time to look at a number of removal companies, find the best value for money, and a firm that you feel your belongings are going to be safe with. If you are moving to France or Spain, there are a number of removal companies who will be able to take care of the removal process, but even if you are moving to China, or Saudi Arabia for example, there are UK-based firms that can take care of your move. Make sure you choose a removal company that has the international resources and the experience to take care of your move. Before deciding, it is always useful to find out as much about the company as you can, and apart from the company website, Twitter, Facebook and online reviews can be very good sources of information. Finally, think about what other additional services you might need. Many removal companies can take care of international insurance, storage, car shipping or pet transport, so if you have any of these needs, make sure to choose a suitable removal company that can meet all your requirements.

2.     Do Your Research

It is important to understand the entire relocation process and to start preparing for your life abroad as soon as you can. If you have not yet decided where you want to move exactly, make use of expat forums and online communities to gain further information. It is also important to see your new country in person before you actually decide to move there. Even if you are moving for career reasons or to follow a family member and therefore cannot really decide the destination yourself, it is important to get as much information about the country before the move as possible. Find out more about the city you are going to live in, the property market, job opportunities, the country's economic situation, climate, living standards and cultural differences for example.

3.     Financial Planning

Whether you are relocating because you got a better job offer or because you want to change your lifestyle, it is important to plan your budget. Consider the costs of the moving process, including insurance, car shipping and any storage you may need, living costs and rent in your destination country and budget for any unexpected costs as well. It is important to know how much you will spend on your move and how much you'll earn in the new country. If you don't have a job waiting for you, you will also have to make sure that you have enough money for the job-hunting period. Other things you'll have to think about are average wages in your destination country and exchange rate fluctuations. If you plan to move abroad to retire, you'll also have to make sure that you'll be receiving your full pension from the UK in your destination country.

4.     Decide What You'll Take With You & Plan the Packing

When you relocate, you'll most probably be moving into an empty apartment so it's important to think about what to take with you. Think about what you plan to do with the items you leave behind – sell them, give them to friends or family, or take them to a charity shop – and make sure that you calculate your shipping costs well ahead of time. You can decide to pack your items yourself or have them packed by professionals. Most international removal companies can offer a professional packing service. Even if you are not packing yourself, it's important to stay around on the packing day to give instructions and make sure that everything progresses smoothly.

5.     Learn the Language

If you are not moving to an English-speaking country, it could be very useful to learn at least the basics of the new language before moving abroad. Whilst you will probably pick up basic expressions quite fast once you are in the new country, it will help you to integrate better, make you feel more at home and give you more confidence if you have a basic grasp of the language by the time you arrive.

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