Is buying and Selling Houses the right the time?
What a question in this climate is it the right time to buy or sell a property. I have asked 5 Estate agents in Cheshire this very question and all of there answers were the same, I don't have a crystal ball. I on the other other hand don't have to answer to the market, I have studied it for many years I have only ever made a success of buying and selling, My father would always say invest in bricks and mortar you can't go wrong but can you?.
In these fast-changing times is it really the time to move or invest? I think there are a few important questions to ask your self first.
New Home - Jump On The Band Waggon
1.Is the move for health, work or investment?
2.How long will you stay in your next house?
3.If you sell yours after the huge saving on Stamp Duty can you find something else?
4. Can you financially afford the move and all associated costs?
If your property move is to a new country location because you now can work from home the stock is of very short supply but there are more on the market now than in the last 6 months but be prepared to pay over the odds but if its a long term move then you will make it up.
1.Is the investment in a beauty spot or city location?
2.How long do you intend on keeping the next house?
3. What profit margin are you looking for?
4. Is there a need for your type of property in that location?
All I can say is research research research! I have just spent 6 months looking for a couple of investment properties in city or close to city locations to find that after corona some people and companies are preferring to work from home so the need for rental properties in city centres are now fewer than before, of course, there is always a high demand for city-centre living but has the virus added to the prices. The demand is higher than stock everything which is coming on the market to rent is going quicker than ever. Properties in the countryside to are moving fast as if it wasn't bad enough before. In London, the cost of the rental has gone down by 15 per cent as workers flock to cleaner air away from the crowds. Tenants are now looking for office spaces to work from home and outside space.
Is this the time to buy a property to use as holiday let Business?
Estate agent in rural spots are reporting a trebling in enquiries I have recently widened my investment search to include a search on the Lyn Peninsular a popular holiday destination, obviously, a risk as Wales was shut down recently for four months and reopened only a few weeks ago with no restrictions on face coverings until last week. An idiotic move in my opinion as to why close the whole of Wales off then when you reopen you are going to get second homeowners and holidaymakers flocking back, England was advised to wear face coverings so why did Wales ignore such a decision, then quickly about-turn. I was booked to look at 7 potential properties over two days overnight before I arrived the following day 3 had sold within a week of being advertised and all had gone over asking price even though there was a risk of a second lockdown and potentially the thought of losing money but after some digging, I was told by quite a few friends that properties very rarely come for sale and with my new information on property beauty hot spots being a good investment I decided to take the plunge, after viewing my first three I was getting a little worried I would not find anything. I took a friend with me as its always good to have a second opinion especially from someone who has been involved in investments and has a good understanding of the Flo of money and the profit and loss element. We arrived outside and I was sold! I knew the location was to die for! Steve smiled at me and said this is you isn't it! As I entered the courtyard I could see an outdoor lounge which is the perfect place to drink champagne on a dull afternoon and with the glass roof it was light and cheery! there was a huge fridge in the next room and so already in my head, I had named this the champagne lounge! not far to pop to get the next bottle of Bollinger!.
Meet the Champagne Lounge!
I will put a huge window in the back wall so you can see over to hells mouth! and beyond a great design feature is this mirror wall which immediately creates a double the space illusion and with mirrors, either side to it lengthens the room.
I walked into an inner hall and felt the comfort of the underfloor heating as I walked across the flagstone floor there was a place especially for coats and shoes which was the perfect design solution for an organised coastal break.
Moving through to the kitchen it had soft colours and a marble worktop and reminded me of my farmhouse in Shropshire! I thought mmm only the beams to paint and the tabletop everything else if stunning.
A Kitchen To Die For!
The light in all the rooms is stunning?
This French-inspired 2nd bedroom bedroom has white painted floors and a huge open plan wardrobe, such a great idea for a vacation home so you can see everything you have and organise your wardrobe for your stay. I would be paint the back wall in a linen colour to add some depth and a cosy feel to this room.
The bathroom on this floor which you can see the sea from, I would need to replace for something more to my taste and completely stunning but the other is perfect in the master suite! Watch this space.....
Back into the lounge and kitchen, I found another staircase to what would have been a hayloft a perfect design solution to make the stairs not over powering the floorspace downstairs tucked away a white painted staircase led to the most amazing light-filled bedroom with a Juliet balcony with views of the sea towards another bay. I noted in here a lick of paint was needed and linen curtains for the winter and to cut the light out from waking you up in the morning, the bathroom was on-point! with a modern hotel feel with washed wood style floor tiles and a double walk-in shower with led lighting, I could imagine myself here on a beautiful day getting ready for a night in Abersoch with friends.
I arranged a second viewing for the following day I was already in love tho! with the prospect of this money-making holiday let. On entering the second time I still had the same feeling so with a quick look around to pick any faults, Steve and I headed to the local bar to do some on the back of a matchbox type of figures and calculations. It was a winner so with that I made an offer, my first two were rejected! I had to pay well over asking price but I got everything included so I could get it up and running as soon as I was handed the keys.
It's important in this climate to work out if everything is closed for a second time can you pay all the bills etc and for how long I always work out the best case scenario and the worse then pick a figure in the middle. I wanted to buy this as part of my legacy to hand on to my daughter in future years and hopefully, she will hand on to her children. A family business which is an amazing place to also have as your little getaway retreat.
I am taking pre-launch enquiries for dates starting from the end of October if you are interested in renting this amazing property please email me on Kerrie@theinteriorco.co.uk
Also visit and like my Facebook page to keep updated on its progress.