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Monthly archive for January 2020

Top Things To Know About Moving Home

Top Things To Know About Moving Home

We recently came across a really interesting article in the Daily Mail and we wanted to share some of the article with you. The article shared some top things to know about moving home. We have taken out the bits that we know will interest you so you don’t need to read the whole article!

  • The busiest day of the year for moving home in 2019 was 30th August, followed by 28th June and then 27th September. These were all a Friday. Friday is the most common day for people to choose to move house. This gives you the weekend to move in and unpack, without taking too much time off work. 
  • People that bought or sold their homes in 2019 paid around £1,154 for conveyancing. Please note this figure does not include disbursements such as land registry fees for example. Meanwhile an average of £677 was paid by first-time buyers for their conveyancing needs.
  • The average distance moved by home owners in 2019 was nine miles. Around 40% of all people that moved house in the last year, moved within a five mile radius of their previous home.  As a Peterborough estate agent, this is something we definitely see a lot. People love the areas they live in and often ask us to look for houses for sale in Peterborough that are near to them.
  • The property market was really driven forward by first time buyers last year. In fact, first time buyers accounted for 55.7% of all home purchases. More than a fifth of the first time buyers used a Government scheme to help them buy their first home. This included the Shared Ownership scheme and the Help to Buy scheme.
  • Data collated by Halifax and Reallymoving found that the average deposit paid by first-time buyers during 2019 was £28,800. This is 17% of their average purchase price with is £180,000. 
  • First time buyers also largely escaped paying stamp duty. However, those home owners that were moving up the ladder last year typically paid around £4,625 stamp duty.
  • Movers in the UK that bought and sold their home at the same time sold their home for around £237,000 on average. Meanwhile, they bought their new home for around £292,500 on average.

If you’d like to make sure that you are in the know of all the facts you need when buying a home in Peterborough, call our team. We work hard to make sure our home buyers and sellers know everything they need to know, so they are prepared for the journey ahead.

Top Tips For First Time Home Buyers In Peterborough

Top Tips For First Time Home Buyers In Peterborough

Here at Letters Group we help lots of home buyers in Peterborough find their dream home. We love taking the time to understand what a first time buyer wants from their next home. We can then show them homes in their budget that fulfil their requirements.

However, as a first time buyer in Peterborough there are a few things you may want to do before you start looking for your next dream home. We have listed some top tips for first time home buyers below so you can be prepared for a successful house buying process.

Get Approved In Advance

Before looking at homes online or guessing the amount of mortgage you can get, get pre-approved. Book in for a chat with our team and we can help you get the best rate for your mortgage so you know the house prices you are looking at. We will talk you through all the additional costs involved in buying a house too, some of which you may not be aware of. If there are any relevant government schemes or grants we will let you know about those too.

Choose Your Territory

There are good and bad parts of all areas. Take the time to think about where you want to live. You may get more for your money in some parts of the city. However you may prefer to live in a quieter neighbourhood which could cost more. Do you need to be near to public transport or need a local shop for last minute essentials? Would you like to be near to a good primary or secondary school? Before looking at homes, think about where you want your next home. This will then make the house hunting process easier for you. 

Think About Preferences

If you are buying your first home with a partner sit together and decide what you want from your dream home. Would you like a driveway that fits 2 cars or are you happy with a communal car park? Do you need a spare room for guests or an area to turn into a home office? How big would you like your garden to be, and should it be high or low maintenance? Think about the preferences you have for your dream home in Peterborough, and then you can give your estate agent a clear idea on the sort of home you want.

Act Fast

Good homes in Peterborough sell fast. If you see a home you like online, book a viewing with your Peterborough estate agent as soon as possible. The home you see online Monday may not be available by the weekend so get in there as quickly as you can. As a first time buyer with no chain you will be an extremely attractive bidder to home owners, but you still need to get in there quickly.

Are you a first time home buyer in Peterborough? Call us now and we can go through the steps with you, helping you through the process of buying your first home.