This month's property update!

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8 tenant and landlord trends for 2023  

 

There is a lot going on in the 2023 letting market for both landlords and tenants. It’s important to be tuned in to what’s going on, no matter which side of the fence you are standing on. While demand for rented homes is high and ever-increasing, tenants are now more protected than ever. The mutually beneficial landlord-tenant relationship is becoming more structured. This has some significant advantages for both parties in what is becoming a more and more long-term relationship.

 

Increase in demand

Demand is increasing all the time for rented property, which is good news for landlords but perhaps a little frustrating when you are seeking a new place to call home. Enlisting the help of a good agent will help a great deal and save much time.

 

Tenants are renting for longer

Fewer first-time buyers due to the challenges of scraping together a deposit amid the cost-of-living crisis mean tenants are renting for longer. This is good for planning and investing in your future property plans, whether you are a landlord or tenant.

 

Some landlords are exiting the rental sector, creating new opportunities

It’s not easy for some landlords, new legislation and increasing costs, some are choosing to retire and enjoy life. This creates more opportunities for new landlords who invest in energy-efficient, modern homes, providing great places for tenants to live.

 

There are more older tenants

One of the reasons there is more demand for rented accommodation is because now more mature tenants rent than ever before, whereas the perception stemming from the past is that mainly younger people rent.

 

Tenants are paying more for energy-efficient homes

Greener homes are in demand. Landlords have a deadline of 2025 to meet the Energy Performance Certificate of C for newly let properties and until 2028 for existing let properties. More energy-efficient homes may cost a little more to rent but will save tenants on household bills.

 

Capital Gains Tax changes (CGT) for landlords

For the tax year 2023-2024, the tax-free allowance for Capital Gains Tax will be reduced from £12,300 to £6,000, and for the tax year 2024-2025, it will be fixed at £3,000. Relatively speaking, this is not a massive increase as it is based on a tax-free allowance.

 

More landlords are creating limited companies

With most landlords already choosing to form limited companies due to limited personal liability advantages, the number of landlords choosing this route will increase further as the rental market becomes more business oriented.

 

Standards are getting higher

As landlords are forced to upgrade energy efficiency and modernise their properties, the good news for them is that tenants are more content and likely to rent for longer, assuring landlords’ investments. Tenants get to enjoy modern, on-trend, energy-efficient, tech-friendly homes without making big capital investments. Renting is becoming an increasingly enticing prospect, and the future for tenants and landlords looks exciting.

 

Need a place to rent or looking for a buy-to-let investment? Get in touch.

 

Freshen up your rental property this spring

 

Spring is a time for change; it’s warmer, summer is on the way, and daffodils start blossoming, bringing more brightness to the extra light of longer days. Wildlife steps into action, and so can you when it comes to improving your natural habitat! Whether you let a property or rent a property, sometimes the challenge is to make changes with the seasons that don’t cost the earth.

 

Bedrooms

A great way to freshen up your bedrooms is to change the bedding. Choose bright, positive colours that reflect the season. Add some light. If you are a landlord, consider freshening up the walls with a fresh coat of paint. Fresh flowers are best—a single tulip can achieve a lot, but realistically, some dried flowers placed on the windowsill add a blast of cheery colour and vibrancy to stimulate your senses.

 

Kitchen

The kitchen is the central hub of most homes, so it gets the most use and will benefit from a good spring clean and declutter. But if you can do more, consider retiling, painting, or replacing worktops and cabinets. Lighting can really add to the feeling of space; perhaps change the blinds. Some potted herbs grow nicely in the kitchen and offer enticing scents while adding colour. They are also handy to have close at hand when you are cooking up a seasonal treat. Tomato plants will also grow nicely on your kitchen windowsill, and come mid-summer, you'll save on your food bill!

 

Gardening and outdoor living

The possibilities here are endless, even if you rent. Get out in the garden and plant a few flowers or trees. Maybe buy, or even better, make, some garden furniture and start thinking about how you want to enjoy a summer’s night: in front of a fire pit, stove, pizza oven, or maybe you would prefer to barbeque. Simply clean up, cut the grass, and plant a herb garden. If you want low maintenance, plant some solar-powered lights instead! As a landlord, you will not want to get too carried away in the garden, so keep it simple and make it a nice place to be. Create a nice outdoor dining area or sundeck to keep your tenants happy.

 

The sitting room

The sitting room will become less of a cosy place to hibernate and more of a light, airy, and fresh place to chill out. Add a few mirrors and maybe some artwork to the wall. If you have a fire, you may opt for more candles with seasonal scents, so it will smell like spring or summer as you no longer need the heat from the fire quite as much. Rugs can also add a lot of colour, whether on the floor or on the wall; the effect is the same. Plants are a great way to add colour and, quite literally, breathe some fresh life into your living room. There are a host of new and exotic choices that will add vibrancy in spades and help you relax after a hard day.

 

Don’t forget the bathroom

A simple spruce up with some new towels, new fixtures such as a soap dish, another mirror, or some rustic shelving to place some bath salts and more plants! Re-grout between the tiles; any little bit you do will have a big impact.

 

Welcome home!

The front of your home should always greet you with a warm welcome, so make it happen with flowerpots, a neat and tidy weedless facia, clean windows, and a shiny front door!

 

Get in touch to see how we can help you find the place where you want to be when it comes to property.

 

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An imposing five bedroom, four bathroom detached family home in the most sought after of locations on the boarders of Woodford Green and Buckhurst Hill. This stylish property offers generous...

 

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Spring 2023 promises more choice for the housing market

There is nothing quite like spring, with thawing winter frosts heralding the imminent arrival of summer and longer evenings. 2023 will allow you to drink all this in and enjoy these inspirational moments all the more. The same can be said of your property search. With houses no longer selling like there’s no tomorrow, unlike the rather uncomfortable rush of the past couple of years. You can finally breathe, take a little time, and find the home you love.

 

A little more housing stock means house prices are not spiralling

Be in no doubt: there is still a housing drought in the UK property market, helping keep prices buoyant. Demand still far outweighs supply. However, with stocks replenishing a little as the market calms so do house prices. You no longer have to race to the first possible viewing to compete with other buyers and make offers over the asking price. The result is that house prices are not spiralling too quickly. Instead, house-buying conditions are more settled and compatible with a secure future.

 

Quality time spent with your agent and your potential new home

Sometimes too much choice makes it harder to make up your mind! Have you ever found yourself wishing you could have the kitchen from your first viewing in the location or with the garden from another viewing? The guidance, inspiration, and seasoned yet informed input of a good agent will help your vision become an adventure that surpasses your expectations. Reality is often more beautiful and awe-inspiring than your dreams, and you could end up with a far better home than you ever imagined.

 

More choice gives you more inspiration

Inspiration and choice go hand in hand. View and explore the feelings inspired by other homes. Physical viewings will yield to your imagination myriad ideas to help you truly understand what you are looking for. In many ways your new home picks you, and the more homes you view the greater the chances of finding your true home destiny.

 

Live the house dream

Perhaps one of the greatest incarnations of a dream is buying and moving into the home you have wanted for so long. You get live inside your vision. When this happens, the feeling of elation is unique and unforgettable. The house you choose will be the place to witness so many happy memories while protecting you from the elements and challenges of the world outside. You don’t want to rush this big decision, and now you are in a good place to make the right choices.

 

Browse our choice of properties and help us to help you find your home.

Do you buy a home with your heart or your head?

Logic and emotion are often at loggerheads when it comes to house buying! Entering a house that gives you that special feeling is one of life’s greatest pleasures. You loved the appearance of the house online, and you were not disappointed when you saw it in the cold light of day. You take a step inside, and the magic begins. It all just feels right.

 

You can see yourself living there, and you have a warm feeling inside your chest as you go from room to room; already, you imagine waking up feeling content in the bedroom because you love the view from the window and the feeling of space. The kitchen is perfect for the entire family, and in your mind, they are already sitting around the table. The fire is so inviting; the garden needs work, but you already have a vision of how to make it splendidly your own.

 

Despite all of this, you return to your current house, your mind still creating scenarios and teeming with happy images of a better life in a nicer home, and you stop in your tracks. You have run the numbers, and even though logically you can afford to move, the internal battle between your head and your heart begins.

 

Don’t ignore your head

It’s important that the numbers crunch correctly. You have to be able to afford your new home! But do not become obsessed by what-ifs and market trends. Many people have made the mistake of losing the house they love while waiting to see what happens to house prices, just in case they drop or rise. It really makes very little difference. House prices fluctuate by small amounts in the short term and grow significantly in the long term. The sooner you start paying your mortgage on the property you want, the better. Logically, this will save you more money in the long run.

 

Listen to your heart

Ultimately, for true home happiness, you have to listen to your heart. Given that you can afford the home you really want, it’s important to open up and tune into your emotions. Learn to trust them; they are there for a reason. Few other events in your life will create such feelings of desire, contentment, safety, passion, happiness, fulfilment, and security. If you are a little scared, that’s perfectly healthy, but do not let it dominate your decision or cloud your logic.

 

A happy beginning!

There is nothing wrong with allowing your heart to rule your head when it comes to home moving. Just keep the logical stuff simple, and then allow your heart to do the rest. Then, finally, after you have taken the plunge, having not purely based your decision on a mere impulse, you can start making priceless happy memories.

 

Finding emotional fulfilment in your home is a logical step!

Logically, emotional fulfilment is important financially. The rest of your life will function so much better if you are living in a home that makes you and your family happy. The health benefits that positive emotions bring, not to mention reduced stress levels and quality downtime, will benefit you throughout your entire life.

 

Finding the right home is really important to us because we know what it means to you. Get in touch to see how we can help in your home search.