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Many homeowners desire more space for a whole host of reasons, you may have a growing family, a change of personal circumstances, or have simply outgrown your current home. A difficult decision then lays ahead. Do you extend and renovate your current property or sell on and purchase a new home in South East London and North Kent? The Advantages Of Building an Extension 1. Familiarity of Your Neighbourhood The very fact that you are considering extending your current home means that you are probably happy with the local area. It may be that you have friendly neighbours, excellent local amenities, or brilliant nearby schools. 2. Added Value to Your Property A bigger kitchen, extra bedroom or purpose-built office space will add a considerable amount of value to your South East London and North Kent home. When the time eventually comes to sell the property, you will have a significantly larger asking price to look forward to. However, consider the impact of a decreased outdoor space on the value of the home. 3. Personalised Plans One of the greatest advantages of building an extension is that it can be designed and constructed precisely to your needs. Most people will decide to redecorate their entire home after the upheaval of having an extension built, meaning, the entire property will then be finished to your personal tastes. The Disadvantages of Building an Extension 1. Extensions Can Be Expensive The costs of architects, contractors and planning permission can quickly mount. A contingency budget is always recommended for those carrying out an extension to cover any unexpected expenses. 2. Investment is Not Always Linear Extending and renovating your current home will undoubtedly add value to the property. However, this price is not always wholly reflective of the funds and time your family dedicated to the build and finished project.   3. There Are Limitations The size of your outdoor space will place the most obvious restrictions on the scale of your extension. Planning permission may also impose restrictions on your build. Additionally, your neighbours will need to be informed, who have the choice to submit an objection should they feel that it will negatively impact their home. 4. Extensions Can Bring Stress Having a team of builders, electricians, plumbers, and other contractors in your home will undoubtedly bring stress to your family. A two-story extension can turn your whole home on its head and means your family will essentially have to accept living on a building site for a number of months and this is why many home owners opt to move home instead. The Advantages of Moving Home 1. It’s a Fresh Start with New Opportunities Moving to a new location presents a wealth of new opportunities for your family. It gives your children the chance to make new friends and experience new schools and areas. It may also present fresh career prospects for yourself. 2. You’ll be Forced to Declutter Many of us avoid a thorough home declutter for years. However, a move forces it. Most home movers cannot afford to transport years of trinkets and storage items. Therefore, moving home has the unexpected benefit of forcing movers to re-evaluate their possessions. 3. There’s Unlimited Scope Renovating or extending a home has obvious limitations. These might be caused by garden size or the availability of planning permission. Granted, most families will have a budget and may have work limitations, but the scope of moving is otherwise generally vast. Moving allows you to choose a home that is substantially smaller, larger or a completely different style from the one you have currently.   4. It Makes Financial Sense The housing market is currently moving at a rapid pace and is very lucrative. Even those who have done little to no renovation work will notice their home has grown in value. The profits might even be enough to allow you to purchase the home of your dreams. This is especially apparent for those who have owned their home for a substantial amount of time. The Disadvantages Of Moving Home 1. Moving Home Can be Stressful Various surveys have shown that most adults in the UK rank moving home as one of their most stressful life events. The logistics of viewings, packing and relocating the family often fills individuals with anxiety and dread. At James Gorey Estate Agents we aim to make your move as smooth as possible, helping you with every aspect of your move from marketing your home to offer to completion. 2. It’s an Upheaval For Children and Pets Children can often feel the most nervous surrounding a home move. Once they are settled into a school, it can be tricky to take them out of their friendship circles and routine. However, thoroughly researching the local schools and amenities will ensure a smooth transition into the new area. 3. Moving Away from Friends Additionally, if some distance is involved, it can be incredibly difficult for adults to move away from their tight social circles. Especially for those who currently live in the same area where they grew up, the upheaval of leaving friends and family can become overwhelming. On the positive side, you’ll get the opportunity to return for visits and your friends can visit you and experience a new area too!

Many people believe that spring is the best time to sell a house, with buyers wanting to be moved in ready for summer, viewings able to take place later in the day thanks to the lighter evenings, and spring traditionally being a time for new beginnings. However, there are plenty of reasons why September is actually a better time to sell, with leading property website Rightmove even confirming an increase in traffic numbers to their website in their most recent figures. If you’re thinking of selling your property in South East London and North Kent, here are a few reasons why September is a great time to sell: Motivated Buyers Buyers who start looking for a home in September are generally planning to be moved in by Christmas, particularly if they’re looking to host family and friends in their new home. As a result, they see December as a self-imposed deadline, which can encourage them to make an offer quickly and also do their best to speed up the buying process. The School Holidays Are Over Summer is usually seen as the worst time to sell, especially if your home is ideal for a family. With the kids off school, and many families going away on holiday, most parents don’t have the time or energy to be looking at properties during July and August. However, once September comes around again, it can be much easier for buyers to fit the time in for viewings. It’s also better for sellers too, as it’s easier to keep the house clean and have viewings during the day with the kids back at school. School Admission Deadlines As parents will know, school admission deadlines fall in late January, or early February. Therefore, families looking to move into the catchment area for a particular school will need to be moved in by this point, making September an ideal month to start looking for a new home. You Can Highlight Your Home’s Features With the Winter months approaching, gardens become less of a focus for buyers, as they’re more interested in a cosy home where they can stay warm. This gives sellers a great chance to highlight the interior features that make their home ideal for the colder months, such as a fireplace or a wood-burning stove. And having it lit for the estate agent’s photos can really make a difference to buyers. You Can Show Off The Views If your home has great views that are obscured by fully blossomed trees in the spring and summer months then September can be a great time to highlight its full views to buyers. With autumn fast approaching and the leaves starting to fall, it may be the ideal time for buyers to see the views at their best, and it can even allow more light into the house and garden. You’re More Likely To Get The Full Asking Price Research shows that September is a strong month for buyers, with property searches very high, compared to November and December for example. This means more potential buyers for your property, which in turn means more competition among buyers. When you consider the fact that there are more motivated buyers too, it can create a perfect storm for sellers. It’s also worth noting that if you list your house during a quieter month it might stay on sale for longer. This may lead to buyers questioning why, and perhaps going in with a lower offer than they’d otherwise be making. Are There Other Good Months To Sell? March is still considered by many people to be the best time to sell. Houses that come on to the market during that month tend to sell quickest on average, and there are several reasons why it’s considered to be a good month. The weather’s getting milder, which encourages buyers to go and view houses Gardens are coming into bloom The evenings are starting to get lighter, so buyers can see a house in its best light There’s usually plenty of buyers in the market for a new home Kids are still in school, so busy parents have more time to view properties However, it’s worth remembering that different times of the year can appeal to different buyers. For example, September is still seen as a good month for buyers with children, due to the school admissions deadline and wanting the family to be in their new home for Christmas. On the flip side, first-time buyers and young couples may wait until the new year to start looking, with the aim of being in their new home in time for the summer, when they can host friends and family into the evening, with no kids to think about! Thinking of selling in September? James Gorey Estate Agents are your local property experts for the South East London and North Kent area. Call us on 020 3633 9866 or email info@jamesgorey.com to book a free valuation.

There are many costs associated with selling a home. From estate agent fees to legal charges, to the costs associated with actually moving. Preparing Your South East London and North Kent Home for Sale Many sellers find that giving their home a refresh before placing it on the market is the best way to entice the broadest range of potential buyers. This might include: Repainting walls Hiring professional cleaners Paying for a storage unit to hide away excess furniture and personal items If you hire professionals for these jobs, then costs will be incurred. Getting an Energy Performance Certificate An Energy Performance Certificate (EPC) is a document that outlines how energy-efficient your home is. Every home needs a valid EPC before it can be advertised for sale, and it is the seller’s responsibility to ensure it is in place. The certificate will grade your home on a scale of A-G. Those sitting at the bottom of the chart may be less attractive to potential buyers, as it indicates that the costs of running the home will be substantially more. These certificates can be obtained from any accredited company. However, there is no uniform fee. The price will vary depending on the location and size of your home but usually start around £90. It should be noted that an EPC is valid for ten years, so it may be the case your property already has a valid document. Mortgage Charges You may incur a mortgage exit fee when selling your home. A mortgage exit fee is a charge that your lender may issue when you close your mortgage account down. This can range anywhere between £25 and £300. However, be sure to check your original mortgage document, as not every lender demands this payment. Alternatively, some homeowners choose to ‘port’ their mortgage. ‘Porting’ is the process of transferring the mortgage over to the new property, removing the need to exit the mortgage and apply for another. This forms the ideal situation for many, as it can potentially save thousands of pounds. However, the mortgage will need to be reassessed as the charge will now be held against a completely different home. The lender will examine the circumstances and, where appropriate, will simply transfer the debt from one home to the next. However, it is always best to investigate current deals and offers, as it may be more financially savvy to move to a different lender rather than ‘port’ an existing loan. Estate Agent Costs Working with a good estate agent in South East London and North Kent is crucial when selling your home. Agents will deal with the process of advertising your home and conducting viewings on the property. They can also assist with the negotiation process, which will help increase the speed at which you have a legitimate offer in place. Understandably, the fees that estate agents charge vary dramatically and the fee will also depend on the location and of course the service that the agency provides. Most agents work on a ‘no sale, no fee’ basis. Meaning, if your home does not sell, you will have nothing to pay. The fee generally ranges between 0.75% and 3% + VAT of the total sale price. For less expensive properties, agents may instead work on a fixed charge basis. Online agents tend to request much lower and often fixed rates. However, the service they offer is usually very different to what you can expect from the more experienced local businesses. Legal Fees Conveyancing is the legal process of transferring the home from one owner to the next. Once you have accepted an offer on your home, you will instruct a conveyancing solicitor to deal with this process. Conveyancing fees can vary depending on the property you are selling, but average between £750 – £1500. The charge is commonly paid on the day that the sale completes. Removal Expenses Of course, there are many logistical costs associated with the process of moving. These might include hiring a van or a whole removal team, depending on your family’s needs. Should you suffer from an interim period between completing the sale of one property and your next purchase, you may also incur storage costs. Many also choose to insure their valuables for this period, ensuring anything broken in transit can be replaced. James Gorey Estate Agents are your local property experts for the South East London and North Kent area. We can advise you on all aspects of your home move. Call us on 020 3633 9866 or email info@jamesgorey.com to chat with a member of our friendly and experienced team.