Moving Property in the Eventuality of Divorce and Dividing Assets

Divorce is one of the most traumatic things that can happen to people. It will usually involve intense emotions, and the breakup can impact every aspect of the lives of the individuals involved. This is the one event that most married couples fear most. As well as the hardship involved in adjusting to the split, at least one of the couple will need to find new accommodation. There will also be the difficult, and often contentious, task of diving up assets.

What Happens to the Home After Divorce?

A marriage breakup means that at least one person will be losing their home. It many cases one half of the couple to keep living in the former matrimonial home – at least in the short-term. This is particularly likely when there are children involved. It is also fairly common for the property to sold, and for both of the former partners to move to a new property. When people divorce it changes their financial situation, and there might not be enough money to continue paying the existing mortgage. In some instances both parties will want to leave this property so they can enjoy a fresh start somewhere else.

Advice for Moving Property after Divorce

Changing accommodation after a divorce is going to involve mixed emotions at the very least. This new home can be where the healing begins, but the person may still feel sad about what they have lost. There are things that the individual can do to make the process easier such as:

Emotions will tend to be high during a divorce, but it is vital that the individual is able to keep a clear head. This is so they can make practical decisions when it comes to the new property, and that they will only choose an option that they will be able to afford going forward.

Choosing a reliable house relocation service can make things a bit easier. This will take some of the stress out of the practicalities of house relocation.

When people get divorced, it usually means that their financial situation changes. They might not be able to afford the same type of property that they enjoyed while married. It is vital that the person is realistic when choosing new property, so that they do not end up with serious debt.

If the former matrimonial home is being sold, then this may mean that the buyer will have cash from the home to invest in a new property. This could mean the buyer has a large deposit which can help to secure a better mortgage rate.

In many instances the individual will need to borrow money if they wish to buy a new home. In this situation it is vital that the person thinks carefully about what they can afford.

It can be preferable that the parent staying with the children chooses a property in the same vicinity as their old home. These young people will have already had to face a great deal of stress, and moving to a new area may add to this.

If you are looking to sell property fast then visit National Homebuyers now and get a cash offer on your home.

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The Extras That Home Buyers Look For

When we’re looking to buy a property there are always going to be obvious factors that are more important than others. The number of bedrooms, the size of all rooms and the style and look of a house should be at the forefront of a property seeker’s mind but what about those added extras?

Is a garage more important than regular public transport links or would you favour high speed broadband access over the nature of your power supply?

A recent survey of 2,000 homebuyers revealed that broadband is now a number one priority and 19% of movers make sure that their service is the first thing they activate when they move in. In fact, one in ten potential buyers have rejected a prospective property simply because it had a slow connection.

“When it comes to buying a home it seems it’s more a case of broadband, broadband, broadband than location, location, location,” said Dominic Baliszewski, of the website broadbandchoices.co.uk.

“Broadband has become something people are not prepared to live without, so it’s little wonder it’s now such a major factor for homebuyers.”

Estate agents have also shown that a faster broadband speed will secure more viewers as buyers consider this to be of higher importance than factors such as a garage, off street parking or easy walking access to nearby shops.

The increase of teleworking is undoubtedly at the heart of this growing need. With more people working from home, either on a full or part time basis, a fast broadband connection suddenly becomes essential.

“In this digital age, a fast broadband connection is becoming much more important for home-hunters,” said Miles Shipside of RightMove.

“People don’t just rely on a good internet connection for web browsing, but also streaming television and working from home.

“As the consumer technologies which rely on the internet expand, the need for a strong connection will be added to more home mover wish-lists.”

Once you move beyond the desire for broadband, the more traditional requirements start to emerge. Electricity and gas fired central heating may be more attractive than isolated properties that still rely on oil for their fuel source while garages, off street parking and local amenities are still taken into consideration.

However, it’s Broadband that has emerged as the main requirement in terms of those property ‘add-ons’.

“It is very easy to check broadband speeds in a specific area so we’d urge potential home buyers to do this rather than be left disappointed,” Dominic Baliszewski added.

While it may be easy to check, estate agents are finding that the inclusion of a positive broadband speed on their sales specifications will save time and is also becoming a powerful selling tool.

Private Sales Set To Be Made Easier

In recent months there has been a drive by some property vendors to move away from the traditional estate agents and to look to sell their property by other means. Previously, many private websites had to be treated as Estate Agents by law but new government plans could be set to do away with that legislation and make the whole process much simpler.

The benefit of selling privately is obvious and anyone who is able to complete a sale in this way is able to dispense with estate agents’ fees. Private Websites offered a money saving alternative until they were brought under the estate agent classification but the government now plans to allow both types of business to operate under entirely separate rules.

This could lead to an even bigger move away from traditional forms of selling but there are those within the industry that are concerned over the proposals.

“These [planned changes] mean that prospective homebuyers and sellers will find it harder to distinguish between intermediaries and traditional estate agents,” said Peter Bolton King of the Royal Institution of Chartered Surveyors.

“Consumers could, perhaps unknowingly, be left responsible for undertaking their own detailed sale negotiations without the advice and guidance of a property professional.”

Mr Bolton King also felt that a greater move towards private sales could lead to more aborted transactions which could, in turn, impact on the property market as a whole.

“This could lead to delays, increased costs and even sales falling through, causing frustration and stress for all involved,” he added.

However, the government believes that the moves are necessary and that they will encourage and increase transactions in the months and years following their implementation. In short, there is a clear suggestion that lower fees might attract more vendors and lead to quicker completions.

One of the problems under previous legislation was highlighted in the case of Tesco. The supermarket giant had a website back in 2007 that charged a flat fee of just £199 for sellers to list their properties. However, once that site came under the estate agent umbrella, Tesco couldn’t justify the additional costs or time that was involved and the portal inevitably shut down.

“These intermediaries help buyers and sellers contact each other at a low cost, but do not engage in other estate agent activities, so it is unfair to expect them to go out and check all the property details of all the sellers on their websites,” said Jo Swinson, Consumer Affairs Minister.

“Reducing the regulations for these businesses will open up the market and increase choices for consumers looking to save costs when buying or selling a property.”

At first glance, it does seem that there are clear benefits for both buyer and seller but will the proposed changes really give a boost to the housing market once they are put into place?

How to Add Real Value to Your Home

In recent weeks we’ve looked at many easy and inexpensive ways in which you can encourage buyers for your home and increase its value. Tidying your garden, painting your front door and de-cluttering are all good ideas but what about those major jobs such as extensions, loft conversions and conservatories? A recent survey by estate agents Savills told us exactly what to do if you want to make a major difference to the market value of your home. Here are the top five findings.

1. Loft extension

The key to most of these methods is in creating extra space. A loft which is otherwise left empty or used for storage can be perfect for an extra bedroom or a home office.

It is claimed that converting your loft space can add between 10% and 20% to the value of your home depending on the total size of your property and on the area. In London, for example, where extra space is highly desirable you could expect to receive the full 20% increase on a future sale price.

1. Side Return

The first question to ask here might be ‘what is a side return’? In Victorian times, this was the area outside the home that led from the door at the side of a house and out into the back garden.

Some viewed it as wasted space and had the kitchen extended to make a larger kitchen area or even to add a dining room if feasible. Many older properties in the UK still have a side return and by converting it, Savills estimate that you can add around 10 to 20% to your property in financial terms.

1. A new kitchen

In the case of a new kitchen, you aren’t actually adding any square footage to your home but you are making better use of the space inside. A transformed kitchen can be stunning and comes in at third place in the list.

However, while it may add 5 – 7% to your property value, it is claimed that the initial cost of your new kitchen is rarely, if ever, claimed back on a future sale.

1. A new bathroom

A bathroom is arguably the one place in the house that will be redecorated in accordance with the new owner’s tastes. It is also widely claimed that the thought of upgrading such a room is likely to deter prospective buyers.

Restyling your bathroom can therefore encourage a sale and it’s also claimed that it can add up to 5% to the final figure.

1. An en suite bathroom

This represents the ultimate in luxury and convenience and more and more buyers are adding an en suite bathroom to their list of requirements.

If you have enough space in your main bedroom then you could consider adding the extra room for your own use and when the time comes to sell, you may find that you’ve boosted your property value by up to 4%.

Surrey Tops the Tables in the Property Price League

In recent weeks we’ve seen just how regional variations differ in property statistics and how significant the respective rises and falls can be in some cases. As an example, London has generally stood out as a region where house prices are increasingly steadily whereas areas such as the West Midlands and Northern Ireland are experiencing some alarming drops in sales figures.

A recent survey by primelocation.com has shown the property divide even more clearly with a survey that indicates just how much the south of the UK dominates housing wealth. Overall, homes in the UK are worth a total of £5.6 trillion pounds and heading the county tables is Surrey, which accounts for around 5% of that combined figure.

Total property values within the county amount to £287.6 billion pounds which equates to £255,125 per head of the population. Below Surrey in second place comes Dorset but the top ten UK counties show just how the much the south prevails throughout the country.

The top of the table reads as follows:

1. Surrey (£255,125 per head; £287.6 billion total)

2. Dorset (£207,220; £83.8 billion total)

3. Buckinghamshire (198,490; £98.8 billion total)

4. East Sussex (£196,300; £101.2 billion total)

5. Essex (£178,705; £252.4 billion total)

6. Hertfordshire (£175,492; £194.3 billion total)

7. Devon (£161,817; £121.3 billion total)

8. Hampshire (£159,171; £206.4 billion total)

9. Kent (£157,288; £224.5 billion total)

10. Warwickshire (£145,431; £77.9 billion total)

The survey went on to indicate just how the country is divided on a regional basis and once again, the final table shows a clear pattern when it comes to overall regional property wealth.

1. South East (£1.6 trillion total property values)

2. London (£1.0 trillion)

3. South West (£488.3 billion)

4. East (£482.5 billion)

5. West Midlands (£367 billion)

6. East Midlands (£336.1 billion)

7. Scotland (£322.1 billion)

8. Yorkshire & Humberside (£300 billion)

9. North West (£253.9 billion)

10. Wales (£223.3 billion)

11. North East (£162.9 billion)

Of course, that table only gives you the overall total and it may be fair to assume that the North East for example, is less densely populated with housing that London. However, those figures are a good indication of an overall picture.

”Property wealth per head is driven by one key factor – demand,” said primleocation.com’s Nigel Lewis.

”Homes in and around the capital will always be sought-after because of the increased population density in the South and its better employment opportunities.”

Could Your Garden Help Your House Sale?

In recent weeks we’ve looked at the many ways in which homeowners have undertaken work around their property with a view to achieving a higher sale price and hopefully, a quicker transaction when the time finally comes to move on.

Even if you’re not in a position to move just yet, it can pay to look at methods recommended by experts that will actually help to increase the value of your home. But what are the best ways to achieve this?

It’s generally accepted that first impressions are crucial for any prospective purchaser so the front of your property is an important area to pay attention to. Doors, garages and their accompanying accessories can easily be painted or replaced but there are other aspects that you should also consider.

Your front garden, no matter how small it may be is also one of the first things that potential buyers will see and particular care should be taken to bring it up to a desirable standard. It seems however that many UK homeowners are doing just that as a survey carried out by HSBC suggests that we will spend an average of £185.00 per person in improving our own personal outdoor spaces.

The HSBC Gardens Survey has been published just ahead of the launch of the Chelsea Flower Show and it claims that households are not only improving the look of their outdoor spaces for their own pleasure, they are acutely aware of the difference such actions can make for property prices.

“Britain has traditionally had a love affair with gardens but with households facing financial pressures, people have to make difficult decisions about where to spend their cash,” said Peter Dockar, head of mortgages at HSBC. The inference clearly is that more is being spent on gardens than we might have expected.

“The survey reveals that spend on non-essential items has gone down in favour of general improvements, including landscape projects. Improving the general outlook of the garden can not only boost quality of life but also help to increase property value,” Mr Dockar added.

The survey also revealed a big discrepancy in the amount of money spent across the country. In the East Midlands, the highest spend of £253.00 per person is expected in 2012 while at the other end of the scale, those in Yorkshire and Humberside are due to spend just £112.00 on their garden this year.

Overall, however, it seems we are a nation of garden lovers and whether we are conscious of the fact or not, our efforts can help to drive up the price of our property.

DIY Tasks to Tackle This Bank Holiday Weekend

The Bank Holiday weekend is almost upon us and a survey carried out by HSBC suggests that over 50% of us will be staying at home to carry out some of those DIY jobs that we’ve been putting off since the beginning of the year. A significant percentage of those people will be working around the house with a view to selling their property and there are many small and larger tasks that are known to help achieve a quicker sale.

If you believe the weather forecast, we are certainly in line for the type of weather that suits indoor DIY but what are the jobs that will carry most value when it comes to selling your home?

The 2012 HSBC Home Improvement Survey shows a list of jobs that property experts believe will add value to your house, while it also indicates how much importance individual homeowners place on those tasks.

As far as the experts are concerned, de-cluttering space is the most vital job by far with 93% claiming that this task made a bigger impact on potential buyers than anything else. In contrast however, only 71% of property owners felt that this was necessary.

This is just one area where experts and individuals disagree and it shows that there are many popular misconceptions over which jobs are vital to the vendor. It even seems in some cases that property owners are still falling into the clichéd traps of putting out fresh flowers and brewing fresh pots of coffee.

One of the key elements that HSBC stress is the importance of first impressions and there are many jobs that can be done right now that will have a tangible impact on any potential buyer.

“Many householders spend the Bank Holidays on DIY projects to help boost property value and saleability. However it is often the smaller jobs like painting the front door that can make all the difference when looking for a quick sale,” said Peter Dockar, head of mortgages at HSBC.

The front of the property is simply vital in regards to those crucial first impressions so aside from the front door itself, if you have an immediately visible garage door then this should be looked at. Door furniture is important too and if you have tired finger plates and letter boxes, they can be easily and cheaply renewed.

Fences and gates are other areas that experts believe will aid a successful property sale and above all, the HSBC survey highlights the disparity behind those expert views and the ones held by the homeowners themselves.

If you want to achieve a quick sale at a price to suit, the results of the survey should certainly be considered by any vendor.

Europe in midst of property market agony claim RICS

Since the start of 2012, various organisations and property experts have been analysing fresh statistics in the hope of finding positive signs for the housing market. In the UK, the stamp duty window which is due to close in March was expected to yield a ‘spring spike’ in sales and elsewhere, some claims had pointed towards chances of a slight recovery.

However, figures released this week by the Royal Institution of Chartered Surveyors paint what is arguably the gloomiest picture yet for 2012 and they claim that Europe as a whole is in the grip of property market ‘agony’ which shows no sign of abating.

In countries such as Austria, France, Switzerland and Norway, there was actually a rise in prices of 5% or higher but this was comfortably countered in countries such as Ireland and Spain, which suffered property price falls of 17% and 10% respectively in 2011.

The Rics European Housing Review went on to suggest that the future for property prices remained bleak unless the Eurozone Crisis were to be resolved. It also claimed that building booms prior to the crash were also contributing to the decline.

“Not only did Ireland, Spain and Cyprus all have substantial price booms prior to their crashes, but they also had huge building booms as well,” the report stated.

“Each one in consequence is still suffering from severe new supply overhangs.”

Across Europe, Ireland’s fall of 17% was the biggest recorded but the Rics went on the claim that the UK property market was currently one of the worst. While Great Britain posted a slim 1.5% fall on the Halifax institute, the report’s author Michael Ball claimed that high inflation meant that the drop in real terms equated to 5.7%. Furthermore, since 2007, that real term fall has resulted in property prices slumping by almost a third.

“Most probably, the housing market will continue to be broadly flat in nominal terms for some time yet and inflation will gradually erode house prices and indebtedness,” Mr Ball said.

“A sustained upward change will only happen when the economy as a whole shows more signs of growth. In the meantime, the housing market remains a drag on the economy as a whole.”

Overall, the report rather puts into perspective some of the suggestions of a possible recovery this year. If the Rics projections are true then the property agony that they refer to could continue for a long time yet.

Forget the Coffee and the Baking Bread – Meaningful Tips to Sell Your Home

It’s become an old cliché now with regards to baking bread and making a pot of fresh coffee before a potential buyer comes to see your home and according to the property experts, it’s one that is best ignored. Overall, there are far more serious matters to deal with before you invite anyone in.

Let’s deal with the question of odours first: It is advised that you try to achieve a neutral smell in the home and this would involve airing the property completely to rid it of any musty odours that may be lingering. If you’re selling in the summer then feel free to open some windows but don’t overdo it as it will look as if you’re trying to mask something.

Property expert Phil Spencer also advises a fresh coat of neutral paint to help neutralise any musty odours,

“A fresh coat of neutral paint, new tiling or lino, and a couple of new kitchen doors can do wonders to smarten up a tired-looking property,” he advises.

Phil Spencer also goes on to underline the importance of first impressions and as such, he suggests painting the front door too before any potential purchasers arrive. However, you may even like to take this a step further by replacing any tired old door furniture including the letterbox and fingerplates.

The entrance hall is important too and it simply vital to create a good initial impression when would-be buyers enter your property.

Most property experts will also tell you to address the issue of clutter. Not only is selling your home an ideal chance to make a fresh start, it is essential that you clear cluttered rooms before any prospective buyers enter.

“My golden rule is that if you haven’t used it for one year then either store it elsewhere or bin it completely,” said Graham Lock, director of House Network.

Arranging for a small skip is a good idea but if you really can’t bear to part with anything, then consider booking a storage unit so that surplus items are kept away from your property during the selling period.

Another good tip is to make sure that the rooms highlight their intended purpose when you start to sell. You may have turned your dining room or spare bedroom into an office or play room but you should redesign all areas to highlight their intended purpose.

So put away the coffee pot and the bread maker because potential buyers can see through the disguise. Strive instead to apply these techniques and they will have a far more positive effect on anyone looking to buy your home.

Giftwrap Your Home for That December Sale

Tis the season to be jolly, unless you are an estate agent or vendor maybe!  Traditionally, the festive period always means a drop in house sales and viewings.

However, it doesn’t have to be a completely dry month.  Many vendors are attempting to make the most of the yuletide period and making the sparkly season work in their favour.  If you’re looking to sell your property, you can still attract viewings during the month of December.  It’s all about playing on the season and with romantic notions of the perfect family home.

A house looks more inviting when it’s decorated.  A warmly lit room with fairy lights and candles can really welcome a viewer and give them a sense of what it would be like to live in your home and how cosy it could be.  Christmas trees surrounded with presents and a well decorated fireplace can also add to this effect.  It’s all about gift-wrapping your home and presenting it in a really happy and welcoming way.  All of these individual touches say that your home is very special and hopefully that feeling will rub off on viewers.

It’s important when using this approach that you get the look just right.  Using cheap and tacky decorations could send your viewers running in the opposite direction and even laughing about that ‘awful house we saw the other day’ when chatting with friends.  That’s exactly the opinion you’re not looking for.

Lucy Inskip from The House Doctor, a company that gives advice to vendors on how to dress and present their homes when selling, waned against overdoing the seasonal effect.

‘Avoid the cheap and cheerful approach,’ says Lucy. ‘Things like “Santa Stop Here” signs are great fun for the children, but they don’t exactly entice people to buy your home. ‘Only use white fairy lights and try to create a muted effect.”

This is sound advice as you don’t want to draw attention away from your home too much.  Every room should be tastefully presented with a warm and welcoming hallway, living room and kitchen.  It wouldn’t be going too far even to greet your viewers with a mince pie and glass of mulled wine.  If you’re planning an open house this is a great idea and will really make people feel welcome as they wander around your home.

Whilst you might be sitting there thinking the idea is a bit far-fetched, these approaches do sell houses.  You don’t need to erase December from your year just because it tends to be a little quiet.  Get that For Sale sign up and make your home look warm and welcoming inside and out.  You’ll be surprised how much attention you get!