Buying, Selling & Letting Property
David Hampshire
Buying, Selling & Letting Property is mandatory reading for anyone seeking a home or investment property in the United Kingdom. It contains a plethora of vital information and insider tips to guide you through the UK property jungle, and save you time, trouble and money. Regardless of whether you’re buying or renting a family, holiday or retirement home, or a property purely as an investment, this guide will help ensure a smooth, problem-free transaction. Whether you want a modern apartment in central London, a traditional cottage in the Cotswolds or a Georgian townhouse in Bath, Buying, Selling & Letting Property will help make your dreams come true. Don’t leave home without it!
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Extracts from the book…
What to Buy?
After deciding where to buy a home (see Chapter 1), your next task will be to decide what sort of home to buy. If you’re unsure where
and what to buy, the best decision is usually to rent for a period (e.g. six months) in the area where you plan to buy. This will allow you to become familiar with the weather, the amenities and local people, and to investigate the local property market at your leisure.
The secret of successfully buying a home (at the right price) is research, research and yet more research. You may be fortunate and buy the first property you see without doing any homework and live happily ever after. However, a successful purchase is much more likely if you thoroughly investigate the towns in your chosen area and compare the range and cost of homes, and their value for money. It’s a wise or lucky person who gets his choice absolutely right first time, but it’s much more likely if you do your homework thoroughly.
Before deciding what to buy, you will need to decide what you want and what exactly you plan to do with a property. Ask yourself what you want and what you need – there’s usually a huge discrepancy! Most importantly, what can you afford? Another important point may be when to buy, as it could be unwise to buy in a falling market, when interest rates are very high or if your long-term finances are uncertain. Before deciding exactly what to buy, you should ask yourself the following questions:
- Are you primarily looking for a principal home, holiday home or an investment property? If you’re buying an investment property, will it be let either permanently or for holiday rentals?
- How long do you plan to keep it? If you plan to sell within a few years you will want to buy a home which will sell easily and hopefully realise a profit. On the other hand, if you plan to stay put indefinitely, investment potential may not be top of your list (but should always be borne in mind, as you may need to sell unexpectedly).
- Do you want to live in a town or in the country?
- Do you want a house or an apartment? If you’re looking for a house, must it be detached or would you settle for a semi-detached, terraced or town house? In a large city you may have to settle for an apartment, while in country areas apartments are rare.
- Do you want a new or old house? If you’re seeking an old house, must it be of a certain style, e.g. Georgian or Victorian?
- What size must a home be (number of bedrooms and overall space) and what sort of outdoor space (garden, terraces, patio) do you require?
- Do you need off-road parking or a garage? In cities and large towns off-road parking is rare and can be prohibitively expensive. On-street parking is usually available for residents in cities, although it can be difficult to find a space near your home.
- Would you consider a property requiring some work, modernisation or even complete restoration? What about buying a plot of land and building your own home or joining a housing association?
- What is your budget? There’s no point in deciding on a particular style of house in a particular town if it will be way above your budget.
This chapter is designed to help you answer the above questions and decide what sort of home to buy. Topics covered include the following:
- Types of home;
- Research;
- Using an agent;
- Relocation agents;
- First-time buyers;
- Buying a new house;
- Buying an old house;
- Buying an apartment (flat);
- Buying a mobile or park home;
- Buying a retirement home;
- Buying for investment;
- Buying land;
- Building your own home;
- Garages & parking.
Planning Permission
If you wish to make improvements to a property immediately after moving in, you should check before completing the purchase whether you will need planning permission (see also page 193), and if so, whether it’s likely to be approved. An architect can advise you about this or you can contact your local planning department. If you know or suspect that a property is listed (see page 210), you will need to obtain listed building consent (contact the local conservation officer for advice). You should also mention any planned improvements or repair work to your surveyor. If you’re making improvements yourself, you must also ensure that you won’t be contravening building regulations.
Your lender will also want to know about any major changes you plan to make and will want to ensure that structural changes are carried out correctly and professionally.
To apply for planning permission first obtain a Planning Permission Application form from your local council. If a property is listed you will need a Listed Building/Conservation Area Consent Application form. Obtaining planning permission can be a lottery and although it’s generally more difficult to obtain approval for non-traditional modern houses, some excellent traditional designs are also refused.
The speed with which applications are dealt with also varies hugely, although government guidelines are a maximum of two months. If you’re planning on making exterior alterations or additions, look at similar properties in the area to see what precedents have been set regarding alterations, lofts and extensions. For major extensions or alterations you should employ a good architect and discuss your plans (which should be complete!) with the planning authorities before applying for outline planning consent or full planning permission (if an application is refused you will incur the same costs again!). The cost of obtaining planning permission varies from a few hundred pounds for a small job where you’re making your own drawings, to thousands of pounds for a large job requiring detailed architect’s drawings.
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Free PDF Sample
PRICE: £9.95
PUBLICATION: January 2005
EDITION: 2nd
PAGES: 336
BINDING: paperback
FORMAT: A5 (210mm x 148mm)
COLOUR PHOTOS: 20
