judithsummer

[judithsummer]

Should you buy property in Prime London now?

I think so! And not just because I am a property finder!

I have not seen prices in Prime London so low for a long, long time. And I have not seen people so willing to accept a discount.

What about Brexit, I hear you say? What about it? No-one knows quite how that is going to pan out, but the fact remains that Prime London is a nice place to live, and, so far as I can possibly tell, there is nothing to suggest Armageddon in May 2019.

We don’t know if some of our London bankers etc will have to relocate to Europe.  But I think that is why prices are what they are at the moment. Even if there is a relocation of certain workers and a rebalancing in the property market to adjust for fewer buyers at the Prime level, a property in London won’t suddenly become unattractive. Prime London will still have a lot to offer post Brexit – leading national and international schools, parks, houses with gardens - not just flats, shops, theatres, art, culture, history, beautiful buildings, excellent infrastructure, multiculturalism, English speaking – the list is endless. Business in the City will not suddenly cease in May 2019. People will still live in London, and people will still have jobs in London, and there will still be richer people who will still want nice, centrally located houses in Prime London. Prime London will still have its international investors, as a property held in Prime London is usually a better financial move for people, especially in the long term, than the negative interest rates they are experiencing in some of their own countries, although some would argue that whoever would want a property in London already has it.

And with the market going into its traditionally quieter (and therefore cheaper) time in this end of autumn/ beginning of winter season, there is all the more reason to act soon.

So I would say it is worth buying in Prime London now or nowish, as long as you buy at the rock bottom level, rather than the inflated price, and especially if you are in it for the long term. Financial indicators are that British business is booming and unemployment is at all-time lows. And if you are thinking about buying soon, interest rates are still low, even though they were raised to 0.5% a couple of weeks ago. And you can still lock yourself into low deals. Please contact me if you wish me to recommend a mortgage broker.

If you have the funds to make a purchase at the right price, go ahead, and thank me in 10 years time!

These are links to my books on buying and selling property in the UK.

http://www.amazon.co.uk/dp/B01JWP7ALK and http://www.amazon.co.uk/dp/B01JXW0BIQ

http://www.simmaproperties.co.uk

[judithsummer]

LONDON PROPERTY MARKET 2017: FULL STEAM AHEAD

I love this cartoon from Lurot Brand, as I think it symbolises well the property market in Prime London.

I think it shows how the London market, especially prime London, has been slowed and almost stopped by the increases in Stamp Duty. But although still hampered by Stamp Duty, which remains a real impediment, the market is breaking free of its stand still position, and is struggling to go full steam ahead.

And that corresponds to the activity I have seen in the prime market. Spring 2017 has been busier with pretty much more sales than in the last two years put together! Or so it seems. Yes, it is true, sellers have not been achieving as much for their properties as they would have liked, but with the appropriate discount taking account of the stamp duty charge, the stock has been shifting. Various reports are out saying that property prices are going down in prime London. I think what they mean is that people, both buyers and sellers, are revaluing this expensive property to take account of the huge stamp duty now payable. But it does not mean that the market is dead; far from it.

Then there is the effect of Brexit. I think that most Brits tend to ignore that, on the basis that they want a nice place to live whatever happens in the EU. And there is a certain British attitude, probably inherited through the ages, that Britain is a superior country with a superior economy that can withstand all foreign onslaughts, so what does leaving the EU matter in the long term? A little Victorian in outlook perhaps. Although in previous times our navy would just shoot at/ blockade/ take over a country which messed with us Brits. How do you think we got Hong Kong for 100 years?! Even thought the current navy is unlikely to behave like this, I do not think the underlying British attitude has been tempered much. Even in the 1980′s Margaret Thatcher’s mantra that we should “Buy British” went down well with the majority of Brits.

And of course there are the foreign investors. They cannot remember when the pound was last this weak! They are getting a bargain if they can find a property they like in Prime London. They probably want it done up and ready to rent out, but there is no shortage of nicely finished luxury property about. Especially in countries where there is negative interest, taking advantage of the weak pound is a chance not to be missed, despite fears that Brexit will reduce the value in the short term. For they are in the market for the long term. And in the long term, as I have always said, Britain, and its capital, is a great place to live and it is recognised to be a great place to live.

Judith

Property finder

http:// www.simmaproperties.co.uk

[judithsummer]

Land Registry

[judithsummer]

High yield or high capital value?

I saw the above data circulated by Property Tribes this week. And I wondered why I have an innate aversion to trying to invest as a landlord in properties which are lower on the scale in terms of capital value. 

Partly, I will not invest in a property where access for me would be hard because it is too far away to visit easily, even if someone else would be managing it for me. Maybe I am a control freak, but sometimes you need to be able to go there.

But what if the property were near where I lived? Surely 5.69% is better than I could achieve elsewhere? Or is it? What am I comparing it to? It is better than investing in cash in a bank. But so is nearly everything else!  And the greater the risk, often the higher the return. 

Then for me it comes down to risk. It would be great to achieve a rental yield of 5.69%. But on a purchase of £95,000, that is only £5,405.50 gross. Don’t get me wrong, I am always happy to receive £5,000. But £5,000 in terms of property is a sum that can be lost in a blink, either in costs or in negotiation on the subsequent sale. And that is why I do not go round buying properties which are at the lower end of the scale in terms of capital value.

For every property purchased there are associated costs: stamp duty (probably), solicitor’s fees, land registry fees, insurance, just to name a few. Then there are ongoing costs like maintenance and mortgage costs. Then there are the costs during a void period including gas, electric and council tax. That is a lot of costs to put against a potential yield of around £5,000 less tax. Certain costs are not much less on a low value property compared to a high value property. A new dishwasher costs the same wherever you put it, although of course you might choose a different brand depending on the value of the property. Would the net yield figures after maintenance, mortgage and tax even cover the costs? If not, is the likely capital appreciation significant enough to offset the risk and make the risk worthwhile. Unlikely!

I would rather invest in quality than quantity and somewhere or in circumstances where the likely capital appreciation is worth the risk that the net actual rental yield does not meet costs. There is a sort of macho ring to a landlord boasting that he has a large number of properties. But when it comes down to it, perhaps the wiser investor has fewer properties, but is achieving better overall figures, with fewer voids, and enjoying much less risk on the capital. And when the wiser investor comes to sell, perhaps his profit from yield figures will not be blown away at one stroke of negotiation about the sale price.

http://www.simmaproperties.co.uk

[judithsummer]

Top Moving Tips to Help Your Children through the Move

I am a property finder for other people, but I wanted to write this article based on my personal experience of having moved 3 times with my own children. I thought it might be helpful if I wrote an article about how to minimise the stress of moving home for children based on my own experience. They were aged 3 and 6, then 4 and 7, and then 5 and 8 when we moved with them.

Because my children have always been both articulate and verbose, even when the youngest was only 3 years old, it has been easier for me to deal with their issues and smooth their worries. But even if your child says nothing, he or she is probably feeling how my children did. So here are some pointers, as children feel the stress of a move, even if their stress is different to that of their parents.

These were some of the comments, concerns and questions that my children had and how I dealt with them:

1. Why are we moving? I like my house where I live now.

To deal with this, I said the following: I like it too. You are right that it feels nice, but it feels nice because the people you love and who love you are here, and because all your nice things are here. Remember when you go to a hotel on holiday, you walk into a room and it does not feel like home? But after a few days, when you are with your mummy and daddy and all your things are unpacked, it feels very soon like home? It is the same for a house. When you take away the things and people inside the house, then it is just walls, like a hotel room is just walls until you unpack your things and then after a few days it feels like home . A home is where the people and the things you love are, not just the walls, and as soon as you move the people and things to a new place, and unpack them, then that new place becomes home and will feel nice again.

I had to keep repeating this, that home is where the people and things are, and the building does not matter. I said that even if we were moving to the tiniest one room in the middle of no-where, it would feel like home if their family and things were with them.

2. When are we moving? What will happen when we move? Can we move back to our first house if we don't like it?

I found it helpful to keep the anxiety in place if I could tell the children about the process and its timing. So they knew that at the end of term, or the end of the holidays, or whenever it was, some men would come and pack up everything in boxes, and the next day they would put them on a van and take them to the new house. And I would answer them truthfully every time they asked. “How much longer?” “One month, which is 4 weeks” etc. I also had to make it clear that we would not be able to move back to the first house, as some other little children would be living there.

3. What is the new place like?

I took my children to view the house that I knew they would be moving to (not to every viewing of every house). I would have taken them again if they had asked more questions about what it was like. I told them the things they wanted to know, like where their bedrooms would be, where they would put their toys, where mummy and daddy's bedroom was, where they would go to the toilet in the night etc. All the things that would affect their lives.

4. How will I get to school from the new place.

Children have a limited sense of distance, so explaining details like this relating to the geography of the location of the new house in relation to other locations of importance to them can be very reassuring.

5. How will my friends/ grandma know where to come?

I had to explain that I would send out an email or a letter to everyone we knew to tell them where our new house was, and that everyone would then come to our new house instead.

6. Are we all moving to the new place?

I am not sure quite what was going through their minds, or whether there was an irrational fear that they would be left behind, but I did need to reassure my children that we were moving as a family, we would still be looking after them, and no-one would be left behind. If you are moving as a result of a divorce, and one parent is not moving with the children, it may seem obvious, but it is important to actually say exactly who is moving to where and explain that mummy and daddy still love you wherever they live.

7. What about my toys and my bed - I don't like the bed in the new house.

It seems that the children thought that moving home was like staying in a hotel, and you had to have the things in the new house just like you have to have the things that are in a hotel room! I explained that we would bring everything from our current house, including their beds, clothes and toys and put them all in the new house. And that all the things they had seen in the new house would be gone by the time we got there.

8. Is it the house with the swing ball in the garden?

The swing ball in the garden was obviously something that the children liked and had focused on. It was clearly a positive thing, so as a swing ball is inexpensive, we bought one of our own and installed it into the new house before the children arrived.

9. I don't like the new house.

I nearly panicked when I heard that one, but when I asked why, I found out it was to do with the decoration. Children don't realise that decor and curtains can be changed!  I told my children that they could choose the colours of their bedroom walls, and my elder child was excited to choose his own curtain material too. For my younger child I brought the beautiful curtains from his old bedroom to make him feel more at home as they fitted the new window. A child of a friend of mine was worried that his little sister would hurt herself if she fell onto the bare white floor which he described, until I told him that his mummy would change the flooring so it would be OK for his little sister. It is clearly not only my children who do not realise that things inside a house can be changed.

Much of what the children said showed that they did not have the slightest idea of what the process was like, so I would advise parents to explain as much as they can, even to very small children, even if they have not asked. Because the smaller they are the less likely they are to be able to articulate what they are feeling, but they will understand you if you address the issues. Children get really attached to their things and do not understand adult reasons for moving. They reject the idea that there is a better, bigger house awaiting for them, because their current house, and particularly their bedroom is their whole world. This is so even if they have moved before.

Top tips for moving day:

1. Make arrangements for the children if possible for the day of the move, such as to go to school and be picked up by someone else, or go to a friend or family. Tell the children exactly what is going to happen. 

2. Have some ready made and favourite food for when the children get home eg pizza in the freezer which only needs heating up in the oven. You think you will eat out, but you won't want to leave, or you won't be able to yet. And ordering a take away may feel difficult if you don't have the number and the menu handy, the internet is not working yet and the children (and grumpy spouse) want to eat NOW!!!

3. Pack into a suitcase which you keep with you separately all the things that you and the children might need for the next day, including favourite teddies, school PE kits, pyjamas and toiletries for the night/ morning, and a change of clothes for the morning. Also your valuables, important documents, a kettle and some plastic bowls/plates/cutlery/cups.

4. Keep some biscuits around, both for the removal company men and for you and your children. All normal rules about sugar intake go out the window on move day! 16 biscuits each will not kill you or your child for one day, and it is not a bad thing for the child to associate move day with sugar treats!

5. Unpack the children's rooms first, and get these sorted, even putting the posters on the walls. That should mean packing their rooms last onto the lorry so that they can be first off. It might mean you take their bedding, favourite teddy and posters with you separate to the removal van. Don't forget blu-tack and scissors!

Enjoy your move!

PS I like using Ants Removals: http://www.antsremovals.co.uk

http://www.simmaproperties.co.uk/

[judithsummer]

Let me know if you spot the above advertisement in tomorrow’s Evening Standard, Wednesday 21st September 2016.

judith@simmaproperties.co.uk

http://www.simmaproperties.co.uk

[judithsummer]

UK Property post Brexit vote

What does the Brexit vote mean for property in the UK? I predicted a short term blip in values in the case of a Brexit vote, with long term economic uncertainty or deterioration. And I voted Remain. 

But now that Brexit won, I am strangely relieved. Perhaps I am just an optimist who likes to see the best in things. Perhaps it is the nagging unease I have had from my law student days studying constitutional law when I realised that the EU could overrule any English law or judgement. Perhaps it is the dawning that apocalypse has not followed and life goes on. My weekend following the result was just as enjoyable as the weekend previous to the result. And in any case, we have 2 years to sort things out before the split actually happens.

If I feel first shock then relief, I suspect the markets are going to respond similarly. The UK is still a nice place to live. The UK still has record low unemployment levels. The UK’s strong economy pre Vote does not necessarily have to dissipate overnight. The UK has the pound, not the Euro - thank goodness. The UK will no longer have to prop up the failing economies of other lesser EU countries or be subject to strange regulations. The UK’s laws, regulations and legal systems are among the most well-established, sophisticated and copied in the world. We had them before the French started chopping off noble heads in 1789. The Rule of Law was established in England along with the Magna Carta of 1215. We still have health and safety laws which protect the building of our properties and roads and the supply of our gas and electric. Actually, we are quite self sufficient in this regard, as we always have been. We are good at making laws and regulations to protect our people and we have been doing it for a very long time. 

So lets turn to property. Demand still outweighs supply, so people still need to buy homes. The number of new homes being built is far below the number required to keep pace with demand. There is still a shortage of bricks and brick-layers. All this keeps demand for property high. Is the demand going to reduce because the UK leaves the EU? I do not see how, as the people in the UK still need the homes and might hardly be able in the future to pop off to take up a job in say Germany. If demand is high, then prices should remain high. If prices remain high, then so should rents as there are still increasing numbers of people who cannot afford to get on to the property ladder.

If there are people holding back from buying to see what happens in the short term, they may well be renting, and that should increase demand for rentals and so keep rents high and rising.

Some buyers may hope to achieve huge discounts in the very near future. For those who are under pressure to sell or who really have to move house, they may accept lower offers than they would otherwise have done. But most people do not have to move, and I think that they will not be happy to accept a discount on the sale of their most valuable asset. I think they will, and should, sit tight for prices to go back to their non-discounted value.

Affordability seems to me to be the factor still which has the power to curb property prices, especially in prime areas. Affordability is affected by wages and performance of people’s investments including shares and currency fluctuations. If the markets rally, which I think they will, then that will help affordability and the attractiveness of the UK for foreign investors. Prime London has seen a recent reduction in foreign investment, but that may change if the world sees London split from the EU as a stronger place.

Time will tell, and of course I have no crystal ball. So following the Brexit vote, I do not see a long term property market crash. Maybe an adjustment blip though. The quicker the political side of it gets sorted, the better. In fact, I see a continuing boom subject to affordability. Maybe I am just an optimist, but there is nothing wrong with optimism.

http://www.simmaproperties.co.uk

[judithsummer]

Bargain buys before the EU referendum

What will be the effect of the EU referendum on house prices - no-one really knows. But the consensus is that if we leave the EU, house values will decrease. 

To counter the uncertainty, many people are waiting before their next move or next purchase to see the results of the referendum on 23 June. For they do not want to buy a house at one value, but find it worth a lot less within the month.

I think people are missing a trick here. Now is exactly the right time to buy - at the right level. Now is the time to pick up a bargain, especially on stock that has been sitting on estate agents’ books a long time. The sellers of those properties are getting jittery and jumping at sales at hugely reduced prices. I have seen houses worth millions being sold for a third less than they were purchased a couple of years ago. 

If a purchase is made now, valued competitively, I can only see a win win for the buyer. If the result of the referendum decreases house prices, hopefully this will have been taken into account in the valuing of the property before the offer was made. Even if there is a dip greater than anticipated, surely over time that dip will be eliminated? And if the referendum and its effect on property values goes the other way, won’t buyers be sitting on a mint? Especially in prime London areas where the values are the highest.

http://www.simmaproperties.co.uk

[judithsummer]

A lovely little refurbishment

I thought it might be fun to plot the journey of this room’s development as it was ripped out and entirely refurbished. Please see the photos that follow.

1. Before the work began this was the lounge and separate kitchen. When we lifted up the carpets we found newspaper underneath from 1973. They used to use newspaper to stop carpet from sticking to the concrete underneath.

2. Then we started the demolition!

3. Time to clear away the debris, re-wire and re-design the lighting system, put in brand new pipes, build the walls we wanted, plaster the walls,  paint, install a modern kitchen with quartz worktops and fabulous tiles, put in new windows and doors, install a new wooden floor with insulation and buy a couple of barstools. etc etc etc.

http:www.simmaproperties.co.uk

[judithsummer]

What kitchen splashback to choose

 The area behind the hob needs to be protected from splashes. So does all the wall which touches the kitchen surface. Washable paint will simply not be enough. But now that so many products are available, which materials and colours should you choose? are still right on trend. Gold, silver, rose gold, copper. I have seen some lovely metal brick tiles used as a kitchen splashback, like those pictured above, made of copper and stainless steel sheets, but I have also seen them made from porcelain/ ceramics.

 I think tiles that look like silver brick make the place look a bit like a space ship!

 Whilst sheets of silver aluminium look like an uninviting industrial kitchen. And I do not think any residential kitchen should look uninviting, as whatever the designer says, the inhabitant has to live there and a kitchen should be warm and cosy.  

 That is why the open brick look can work and so can a grey concrete industrial look, whether it is made of actual concrete or tiles. The trick to an industrial look is to keep it warm and not too dark.

 The grey colours that have taken the design world by storm over the last few years show no sign of abating. So greys are still in, in a way that creams and browns are still out. Bright kitchen accessories and glassware look stunning next to these greys.

 As to the shape of the tiles, I do like the trendy brick shapes that are everywhere. But they have been trendy for a while and I am concerned that soon they will look dated, like the small, multicoloured tiles do, which everyone used for splashbacks a decade or so ago. I prefer huge tiles, 90 x 30 cm. They are more expensive that smaller tiles, but have fewer grout lines that can get discoloured over time, and make one large, expensive statement.

 I have seen some people laying the brick tiles in a herringbone or other pattern which I really like, but I am not sure about how trendy this is. I am told that for wooden floors, herringbone is making a revival, especially if someone wants to make an impression of expensive luxury, as it costs more the lay a floor in this pattern. Perhaps it is the same for tiles!

 Hexagonal shapes and other geometric shapes are very on trend, but I have not seen an effect I like. They seem to look messy to me. To my eye they look old fashioned and retro (but not in a good way), like something someone is desperately trying to revive for lack of new ideas.

 I also hate the tropical bird/ jungle look. I am sure that I am not the only one, as I have only ever seen these in design magazines but not in actual homes. I cannot believe that this trend is still about, or that it can possibly survive. Even if you like this trend, it is not a sensible option if you are marketing your home any time soon.

 Maybe it is an extension of the jungle look, but greens and blues are fashionable, as oranges. Pinks and reds go really nicely with greys so they are all over the place too. I think what we can divine from this is that all colours are probably OK if they go with the trendy neutrals and/or metallics which should be in your kitchen.

 Mosaics with a touch of metal in them are a good compromise if you do not want the whole thing to be so shiny and glittering in the sun and they might well outlast the plain metallics trend. The downside is that mosaics can be really expensive, so they could be limited to just the area above the hob, with some plain tiles being used for the rest of the splashback area. Doing this actually highlights the mosaic and gives it a double effect.

 Some people have an upstand made of the same material as their kitchen surface. If the kitchen surface is made of quartz, so will their upstand. Some people like the whole area behind their hob to be made of the kitchen surface material too. This can look stunning, but a stunning visual effect can be achieved at a fraction of the price if porcelain tiles are used instead. The trick is to choose the right colours - to compliment and highlight the kitchen surface without getting too matchy-matchy. Never put fake quartz or granite tiles next to the real thing.

 I also do not think that an upstand is necessary. Again, it is usually cheaper and just as stunning to put some tiles around the whole of the kitchen. A mistake people often make is to assume that no splashes will go higher than the upstand. So even if they have an upstand, they should also tile up from it. The tile level around the kitchen area does not have to go to the ceiling, but could stop in line with the bottom of all the wall cabinets.

 Glass splashbacks are being used more and more, but I think that they look quite dull and uniform unless cleverly lit, or garish if a bright colour is used. When the light touches them they look dead, whereas a tile, mosaic or quartz will look lively. Like the difference between a glass bead on a ring and a real diamond. There are some that I like though, so if you like them, then go for it.

 Some people are choosing the brightest colour they like and finding tiles or glass that they like in this colour. This can work well with a plain kitchen in say white or light grey, but would only be advisable if the owner plans to stay in that property for a long while. Bright colours can put off potential tenants and buyers, so should not be used as the splashback if the intention is to market the property. There is no point putting the potential tenant or buyer off if they do not happen to like the colour. It is a much less expensive experiment if the bright colour is used in accessories.

 More and more companies are making painted glass splashbacks (and upstands) which do look amazing. However, they are expensive. The hob area alone could cost £3-5,000, or even more if the design is bespoke. And again, if this is a kitchen which is being marketed, it is not a sensible investment. In fact, I am still not sure that this is money well spent, as you can achieve a stunning kitchen with tiles.

 So what should you choose? If you have read this article and decided you like something I have mentioned, then just go with that. If you have seen something in the shops that you really like, then go with that too. But in both cases, do not use too bright a colour unless you are sure and you are not marketing your property. Do not spend too much - it is rarely necessary. Safe options include greys, perhaps with metallics in a smaller area or as part of a hob mosaic splashback.

 http://www.simmaproperties.co.uk/

  -

[judithsummer]

Property TV

Property Panorama

 My second interview with Property Panorama (Sky Channel 238) gives advice about selling a property. It will be aired twice more today 29 February 2016 (6.30 and 10pm) and then 4 times a day for the rest of this week - 6am, 9.30am, 6.30pm and 10pm.

Above is a picture from the filming in December, and below is a picture of the sophisticated end product!

Do you think I am famous enough yet for Strictly Come Dancing?! 

http://www.simmaproperties.co.uk/

  ��X"�C

[judithsummer]

12 easy steps to plan your perfect room - without getting bogged down with computer design wear.

 It may be old-fashioned, but if you do not have a computer design system on your computer, or are unfamiliar with the software, this method will be quicker and easier.

 1. Measure the walls of your space and write them onto a rough pencil drawing of the space. Make sure you go right round the whole room or rooms. Don't forget to note the height of the room, as you will need to know that at some point, if not now. Note the width of the windows and how high from the floor they begin.

 2  Draw out the space on square graph paper, to scale. Use a pencil as you will definitely make mistakes! Use a ruler. A good scale to use is one that fits in with your graph paper so that each square equals 10 centimetres.

 3. Draw on separate graph paper the furniture you want to include in the space, to the same scale as the outline of the space. Lightly pencil shade in the furniture, and cut it all out. You can find out online how big furniture should be, or measure your own. Write the dimensions of the furniture on to the cut outs.

 4. Place the furniture cut outs around the space until you are comfortable with the layout. Tack each piece to the outline with a little blue tack. This makes it easy to move around and tilt at angles, which is hard to do on most computer software, without losing the pieces.

 5. Imagine you are in the room and place plug sockets in appropriate places. So if you want a TV in one place, make sure it has a socket nearby. If you want a lamp near a sofa, it will also need a socket. I usually place at least 4 double sockets in each room, ie at least one on each wall, although it can be less in a small bedroom.

 6. Still imagining you are in the room, think where you might want accessories, like a shelf or if it is a bathroom, where will you want the towel to hang so you can reach it when you climb out of the shower etc.

 7. Think about which way round the door should open. Do this by imagining how you would like to walk into the room and what the door will be against when open. It is better against a blank wall. If you have filled that blank wall with shelves, then you may need to have the door opening outwards instead of inwards etc.

 8. Make sure the light switches are in the places that would be most convenient if you were using and walking in and out of the room. Can spot lights be installed to give the room maximum lighting?

 9. Subject to obtaining any planning consent, design as big a window and as many windows in the space as possible. If there is no part of the building above your space, then always consider putting in a solar tube or a skylight with opaque glass. Think about floor to ceiling windows and folding, sliding doors.

 10. Think about the heating. Where do the radiators go? Is there underfloor heating?

 11. Remember, internal walls, especially if they are not supporting, can be removed, so do not be constricted by the current layout at this point.

 12. Choose a flooring and paint for the walls. Remember, it is easier and safer to put bold colours in accessories like cushions and vases which can easily be changed rather than in expensive tiles etc.

 Hey presto, you have your ideal room.

 Happy designing!

 http://www.simmaproperties.co.uk/

[judithsummer]

UK House price predictions 2016.

££££££££££££££££££££££££££??????????

How many articles have you read with contradictory messages about house price predictions over the next year? I have read that property prices are going up; that the mega properties (over £5m) are finally shifting after a year's lull; that property prices are stagnating; that properties around the £2m level are going down in value; that property values will go up by 50% in the next decade.

 I think the real point is that no-one knows!  Also, that house price movement depends on so many factors that general national trends and percentage predictions are pointless. The value will depend on local factors such as the type of property, its value bracket and its location, as well as national factors such as interest rates, tax rates and the economy of the country and to some extent the world.  Bear in mind that for the sake of pensions, property investment is considered high risk.

 Data from the past indicates that property prices rise over the long term. So investors should be looking at the long term when they buy their property.

 For investors looking at making a short term profit, they are basically gambling.  Which is OK if they have done a large amount of research into the area they are investing in and found reasons why their property in that area should do well, or if they have bought at a discount, or if they have expertly done work on the property so as to increase its value. It is not OK if they have blindly bought a house and done a quick refurb which does not add value to the house other than the cost of the refurb.

 If all a person wants to do is buy somewhere to live, he or she should buy it at the market price that he or she can afford, in the place that he or she wants to live, and it should be worth more by the time he or she wants to sell. That purchaser can be unlucky if there happens to be an economic meltdown at the time of the sale, but that is a risk that has to be taken if the prime aim is to live somewhere the person wants to live.

 And frankly, that should be the sole aim for most of us. To live somewhere we want to live. And not obsess about house prices. We can afford them when we can afford them. And if we are investing we need to do some careful research and be prepared for ups and downs and extra costs, extra interest and extra tax.

 For what it is worth, I think that the prices in St Johns Wood, London, an area in which I live and work and have done lots of research, will rise over 2016. I think that the highest rises will be in the small (£500,000 to £750,000) and medium flats sector (£750,000 to £1.5m). Yes, that is what small and medium flats cost around here. I think that some more people will be able to afford the medium houses (£3-5m). Yes, that is what medium houses cost around here.  I still think that the houses and flats over £5m will be harder to shift, as, especially if you add in the HUGE stamp duty, that is simply so much money that so many people do not have, although the UK is still an attractive place to hold property for many foreign wealthy people.

 I think that this analysis will hold true for other equivalent prime London areas.

 I think that the areas next to the prime areas, in London or otherwise, will see huge increases as people cannot quite afford the prime areas. And that there will be a ripple effect, so those people who cannot quite afford the areas outside the prime areas will have to move slightly further out again and so on.

 Interest rate increases will not help affordability either for buying a new home, which people think are already incredibly pricey, or being able to afford the mortgage. But people still need to live in places and demand is still outdoing supply, so house prices should still go up.

 So in total, I think you will end up with house prices increasing over the year. I cannot say by how much. I do not invest by relying on house price growth and neither should you!

 http://www.simmaproperties.co.uk/

[judithsummer]

House buying: chain or no chain?

I have been asked whether I would advise people to sell their home first before buying another home, so that their purchase is chain free.

 It used to be the norm to buy one house and sell another at the same time, so that most moves were part of a chain, sometimes quite a long one, where each purchase depended on the simultaneous sale of another property. I saw a statistic in November 2015 saying that now only 67% of UK sales are part of a chain.

 The chain free purchaser will have a number of advantages:

 1. If there is no chain, then the prospective purchase cannot fall through due to the failure of an unrelated sale.

 2.  So an offer from a chain free purchaser is more attractive than from a chained one, even where an equal or even better offer is made by a chained purchaser.

 3.  The purchasing process will be simpler.

 4.  The purchase may well be quicker.

 5.  The purchaser knows exactly how much there is to spend on a new house.

 6.  The purchaser is better able to compete with a cash buyer than a chained purchaser. The purchaser might even become a cash buyer himself if he does not need any more money than the proceeds of his already accomplished sale.

 The disadvantages of being chain free:

 1. In order to get rid of a chain, the prospective purchaser is going to have to sell his current home. But he and his family will still need to find somewhere to live.

 2. The chain free purchaser may have to live for a long time in a temporary place which he does not want to live in. Eg rented accommodation which will eat into his savings, or moving back to parents' or in-law's which may not be attractive.

 3. Moving is stressful enough as it is, especially on children, without them having to move into temporary accommodation first.

 4. If the market moves quickly and the search for a new home drags out, the chain free purchaser may end up priced out of the homes he wants to buy.

 I think that the disadvantages are potentially more serious than the advantages of becoming chain free. I generally do not think it is a good idea to sell one's home without having a purchase lined up, especially if there are children involved. An exception would be if the sale was going to achieve an over market price, or a good price with a long completion date. It can take a year to find the perfect home, or even the good enough home. I think that if a prospective buyer wants your house, they may well wait for you to be ready to sell.

 I also think that having a buyer lined up for the home you have to sell makes you a fairly attractive buyer of another home, even if you are not as attractive as the cash or unchained buyer. If you are competing against a cash or unchained buyer, it might be worth offering the asking price or £5,000 above the number agreed with the cash or unchained buyer. Sometimes sellers favour the number of noughts after the pound sign over the type of buyer.

 I would take the risk of losing your "dream" house by being gazumped by a cash or chain free buyer, rather than taking the risk of not being able to find somewhere suitable to live for a long time. I also think that there is more than one "dream" house for most people out there. Is one house in the street really and truly so much better than every other house on that same street?

 So what should the prospective purchaser do to maximise his chances of being able to buy his dream home? Be prepared. The prospective purchaser should have done his research about where he wants to live and how much he wants to spend, and have professionals lined up to assist the process including solicitors, insurance brokers and mortgage brokers. If a mortgage is going to be necessary, and offer in principle would be a good idea. He should also put his home on the market and see how that goes. He can always hold off from agreeing anything on his sale. And he can always accelerate the sales process of his home by reducing the price to achieve a sale in the timing that will suit his purchase. He might not be able to maximise the price he can achieve on his sale, but he might be able to do the purchase in the same chain, which is worth something to him. A good deal is one he can live with.

  http://www.simmaproperties.co.uk/

[judithsummer]

Moving tips to help your children through the move

I came across a blog circulated by http://www.stubbsintmovers.com/removals-in-and-out-of-store/ (via twitter @StubbsRemovers) entitled "Moving tips to help your dog through the move." Having moved 3 times with my own children, I thought it might be helpful if I wrote an article about how to minimise the stress for the children based on my own experience.

Because my children have always been both articulate and verbose, even the 3 year old, it has been easier for me to deal with their issues and smooth their worries. But even if your child says nothing, he or she is probably feeling how my children did. So here are some pointers, as children feel the stress of a move, even if their stress is different to that of their parents.

These were some of the comments, concerns and questions that my children had and how I dealt with them:

1. Why are we moving?  I like my house where I live now.

 To deal with this, I said the following: I like it too. You are right that it feels nice, but it feels nice because the people you love and who love you are here, and because all your nice things are here. Remember when you go to a hotel on holiday, you walk into a room and it does not feel like home. But after a few days, when you are with your mummy and daddy and all your things are unpacked, it feels very soon like home? It is the same for a house. When you take away the things and people inside the house, then it is just walls, like a hotel room is just walls until you unpack your things and then after a few days it feels like home . A home is where the people and the things you love are, not just the walls, and as soon as you move the people and things to a new place, and unpack them, then that new place becomes home and will feel nice again.

 I had to keep repeating this, that home is where the people and things are, and the building does not matter. I said that even if we were moving to the tiniest one room in the middle of no-where, it would feel like home if their family and things were with them.

 2. When are we moving? What will happen when we move? Can we move back to our first house if we don't like it?

 I found it helpful to keep the anxiety in place if I could tell the children about the process and its timing. So they knew that at the end of term, or the end of the holidays, or whenever it was, some men would come and pack up everything in boxes, and the next day they would put them on a van and take them to the new house. And I would answer them truthfully every time they asked. How much longer? one month, which is 4 weeks etc. I also had to make it clear that we would not be able to move back to the first house, as some other little children would be living there.

 3. What is the new place like?

 I took my children to view the house that I knew they would be moving to (not to every viewing of every house). I would have taken them again if they had asked more questions about what it was like. I told them the things they wanted to know, like where their bedrooms would be, where they would put their toys, where mummy and daddy's bedroom was, where they would go to the toilet in the night etc. All the things that would affect their lives.

 4. How will I get to school from the new place.

 Children have a limited sense of distance, so explaining details like this relating to the geography of the location of the new house in relation to other locations of importance to them can be very reassuring.

 5. How will my friends/ grandma know where to come?

 I had to explain that I would send out an email or a letter to everyone we knew to tell them where our new house was, and that everyone would then come to our new house instead.

 6. Are we all moving to the new place?

 I am not sure quite what was going through their minds, or whether there was an irrational fear that they would be left behind, but I did need to reassure my children that we were moving as a family, we would still be looking after them, and no-one would be left behind. If you are moving as a result of a divorce, and one parent is not moving with the children, it may seem obvious, but it is important to actually say exactly who is moving to where and explain that mummy and daddy still love you wherever they live.

 7. What about my toys and my bed - I don't like the bed in the new house.

 It seems that the children thought that moving home was like staying in a hotel, and you had to have the things in the new house just like you have to have the things that are in a hotel room! I explained that we would bring everything from our current house, including their beds, clothes and toys and put them all in the new house.

 8. Is it the house with the swing ball in the garden?

 The swing ball in the garden was obviously something that the children liked and had focused on. It was clearly a positive thing, so as a swing ball is inexpensive, we bought one of our own and installed it into the new house before the children arrived.

 9. I don't like the new house.

 I nearly panicked when I heard that one, but when I asked why, I found out it was to do with the decoration. Children don't realise that decor and curtains can be changed!  I told my children that they could choose the colours of their bedroom walls, and my elder child was excited to choose his own curtain material too. For my younger child I brought the beautiful curtains from his old bedroom to make him feel more at home as they fitted the new window. A child of a friend of mine was worried that his little sister would hurt herself if she fell onto the bare white floor which he described, until I told him that his mummy would change the flooring so it would be OK for his little sister. It is clearly not only my children who do not realise that things inside a house can be changed.

 Much of what the children said showed that they did not have the slightest idea of what the process was like, so I would advise parents to explain as much as they can, even to very small children, even if they have not asked. Because the smaller they are the less likely they are to be able to articulate what they are feeling, but they will understand you if you address the issues. Children get really attached to their things and do not understand adult reasons for moving. They reject the idea that there is a better, bigger house awaiting for them, because their current house, and particularly their bedroom is their whole world. This is so even if they have moved before.

 Top tips for moving day:

 1. Make arrangements for the children if possible for the day of the move, such as to go to school and be picked up by someone else, or go to a friend or family.  Tell the children exactly what is going to happen.

 2. Have some ready made and favourite food for when the children get home eg pizza in the freezer which only needs heating up in the oven. You think you will eat out, but you won't want to leave, or you won't be able to yet. And ordering a take away may feel difficult if you don't have the number and the menu handy, the internet is not working yet and the children (and grumpy spouse) want to eat NOW!!!

 3. Pack into a suitcase which you keep with you separately all the things that you and the children might need for the next day, including favourite teddies, school PE kits, pyjamas and toiletries for the night/ morning, and a change of clothes for the morning. Also your valuables, important documents, a kettle and some plastic bowls/plates/cutlery/cups.

 4. Keep some biscuits around, both for the removal company and for you and your children. All normal rules about sugar intake go out the window on move day. 16 biscuits each will not kill you or your child for one day, and it is not a bad thing for the child to associate move day with sugar treats!

 5. Unpack the children's rooms first, and get these sorted, even putting the posters on the walls. That should mean packing their rooms last onto the lorry so that they can be first off.  It might mean you take their bedding, favourite teddy and posters with you separate to the removal van. Don't forget blu-tack and scissors!

 Enjoy your move!

  http://www.simmaproperties.co.uk/

[judithsummer]

Top Six things to look for in a property purchase: don't waste your time or money.

Despite the housing shortage and demand outstripping supply, there are still a lot of properties for sale out there. How do you choose between properties of a similar ilk in the same price range? This is what I consider at the outset:

 1.         Location, location, location

Do I want my property to be in this road or in this block of flats. The answer is usually a simple yes or no. Hesitation means no. Can I imagine getting to work/ the station/ the shops / the school etc from here.? Can I imagine trying to park here?

  2.         The light

For me the orientation of the property is a really high consideration, as I do not want to buy a dark, cold home.  A north-facing property is only fine if all the main rooms are south-facing. On a bright day you need to feel that the light is flooding the house. Then it will be warm and light for you forever.

 3.         Parking

I would not advise buying a property in certain areas like St Johns Wood, London if there is no parking facility.  Some newer developments in central urban areas will not even come with a right to apply to the council for a parking permit for the road. Not owning a car is not feasible for me or for many people who might want to rent property from me. Driving round and round after a late night out, desperately trying to find a space and go to bed is not appealing. On the bright side, a home without a parking facility in this sort of central London area should come with a huge discount, so it may well suit a non-driver. Otherwise, would you buy something in the shops that was not quite right for you just because it was cheap?

 4.         Outside space

Outside space can be a luxury - but is it one you can do without? It is so lovely to feel the sun on a warm day, even on the tiniest balcony or communal garden. The flat my husband and I bought when we got married had no outside space and I noticed the lack of one and resolved never to do that again. For the majority of the year it was fine, but in the summer months I found it stifling. Maybe that is just me.

 5.         Kitchen

So few places have a kitchen with enough workspace or space to expand a kitchen. Fine if you do not cook. Not fine if you find your house always full of hungry people and their guests!

 6.         Square footage

If the space is big enough, it can usually be reconfigured to suit. A small space, however beautifully presented is still a small space unless there is potential for expansion, in which case I would consider the square footage of the plot, not just the building and the likelihood of obtaining planning permission.

 There are many other factors to consider when buying a property, and much will depend on what you want, for instance if you want to self-build or if you want the property in perfect refurbished condition. You should make your own top feature list and not waste your time even going to see properties that do not have those ticked off. Other factors may be of influence, such as what the neighbours are like, whether it is an ex-council property and covenants affecting the property. But these top 6 are what I use to help me choose property in the first instance. I hope they may be of help to you.

 http://www.simmaproperties.co.uk/

[judithsummer]

Why St Johns Wood property is a good investment

 St Johns Wood property has historically outperformed the rest of the UK market and not dropped so low when the world markets have collapsed. Why? Because it possesses attractive qualities which are unlikely to change:

 1. Location

 St Johns Wood is fabulously located near to the City of London and West End, so it does not take long to get to work/ good shops/ transport hubs.

 2. Transport

 Not only is St Johns Wood near these things, but it is easy to get to them. St Johns Wood has an excellent transport network - road, underground, rail and bus.

 3. Facilities

 The facilities in or within walking distance of St Johns Wood are exceptional and include, to name but a few and in no particular order: parks, shops (boutique and high street), GP's, private A & E hospital, other hospitals, library, coffee shops, places of worship, gyms, pools, schools, cinemas, theatres, zoo, Lords cricket grounds etc.

 4. Parks

 Few areas in London have access to the quality parks that St Johns Wood does, including Regents Park and Primrose Hill.

 5. Conservation area

 St Johns Wood is part of a conservation area, so the pleasant greenery in and around it, as well as the wealth of period properties, is likely to remain.

 6. Rental hub

 The American School is a big pull for good corporate tenants, as well as all the points above which make St Johns Wood pleasant and easy to live in.

 7. Reputation

 Wealth attracts wealth.

http://www.simmaproperties.co.uk