Thinking of upsizing - Our top tips to consider
Planning on moving to a larger property? Here are the key factors you need to take into account.
1) Why?
Think about the main reason you need or want to upsize. This will either be a necessity, such as expanding your family, because your current home no longer has the space you need, and you have decided to move as oppose to improve. Or maybe it’s more aspirational, and you want something larger that has the 'Wow Factor’ such as that open plan living space you’ve always wanted?! Whatever the reason…. if you’ve made the decision to upsize, go with your gut and go for it!
2) Where?
Location, location, location! Choosing the right location will always stand you in good stead. If you are moving for schools , check out the Ofsted reports for your chosen schools and look within the school catchments areas to get a feel for those you prefer. Do you need to be near good transport links? If so, this needs to be factored into your search. What else is important to you…. local amenities? Semi-rural?
3) When?
Just like for first time buyers there is never a right time to start paying bills, there is never a ‘perfect' time to start paying larger bills. Perhaps you are working towards a particular date for a move? If so, work backwards from your deadline date and start getting the ball rolling early on, within enough time to make sure you achieve your deadline date. New job? School catchment cut off? Now is the time to act!
4) Consider your costs
It is important to know your finances and speak with a qualified financial advisor to set a budget and price range that you are comfortable with paying each month. Of course, this might come with some small sacrifices from time to time, however, if you plan your finances accordingly you would hope too not impact your daily lifestyle too much.
5) Future scope/ potential
If you are thinking of future expansion plans, to maybe cater for your growing family, or desirability to have that dream kitchen you have always wanted, make sure you do your research. Is the plot big enough? Would it take too much off the garden if you extend? Does the parking cater for a growing family? Have others extended in the road?Speak to the local authority to get an idea if what you are looking to do is feasible. Speak to local builders to get their advice and approximate idea of costings.
6) Know your most important tick boxes
Perfection rarely exists in anything, so trying to accommodate all your tick boxes can be unrealistic. However, knowing your most important requirements and focusing on those tick boxes that you absolutely cannot compromise on is key. The most important question to ask yourself after viewing a house is ‘Can you see yourself living there?’, and what does your gut feeling tell you?! If it is yes, then go for it!
7) Timescale/ chain size
If you are dictated by a deadline, this needs to be thoroughly checked out from the outset. Check this out fully with the agent to understand the length of the chain and gauge an idea of timescale. Chains work fine if managed well and everyone involved has a clear understanding of the timescale being worked to and all parties involved remain on the same page!
8) Do you need to sell to buy?
Last point, but probably the most important…If you need to sell in order to buy, getting your house on the market in readiness for finding your ‘dream home’ is crucial! Making the mistake of thinking your house will sell within days, so can wait until you find your ideal home first, could potentially cause you lots of disappointment. Have you missed out on houses of interest previously, by not being in a proceedable buying position?
When the right house goes up for sale, especially in sought after areas, you will be competing with proceedable buyers who have either sold, or do not need to sell to buy. You will have much less bargaining power, than those who can immediately proceed on their offer.
Contact our team on 02476 349336 to discuss how we can get you in the best possible buying position, in readiness for making your bigger move!