Survey Reveals First-Time Buyer’s Lack Of Knowledge On Buying A Home

It appears that the up-and-coming generation of first-time buyer's has a lot to learn about a purchasing a home.

A recent survey conducted by removal firm, reallymoving.com, questioned 500 people looking to buy a home for the first time in the next 3 years. The results of this survey were quite surprising as many were uninformed on which responsibilities were theirs during the buying process.

The survey found that 67% of survey respondents believed that it was the responsibility of the estate agent or the surveyor to carry out searches, including local authority searches, planning and flood risk reports.

When it comes to mortgage valuations, homebuyers reports and building surveys, only 37% of those who took part in the survey were aware that organising these items was their responsibility.

It was also found that 40% of first-time buyer's would make an offer on a home before they have acquired a mortgage offer, whilst 37% were under the impression that the exchange of contracts took place on the day that they move into their new home.

36% of participants assumed that the cost of a survey was paid for by the seller of the home and 24% believed that stamp duty was also a bill for the vendor.

Chief Executive at reallymoving – Rob Houghton – spoke on the findings of their research, he said “Failure to grasp the fundamentals of the home-buying process will create big problems for first-time buyer's and could lead to unexpected costs and transactions falling through. Buying a property is rarely straightforward, but it is in the best interests of FTBs to ensure they are as well prepared as possible.”

There have been many reports over the past few months of a surge in first-time buyer's entering the market due to the removal of stamp duty. However, the results of this survey suggest that some serious research is needed from the upcoming generation before they take their first step onto the ladder.

How Homes Will Look In 5, 10 And 20 Years?

With the current housing shortage in the UK, there have been a number of plans set in motion by the Government to help build 300,000 homes per year. From family homes to apartment blocks and rural conversions, the focus is on future-proofing the country for its housing needs.

A new survey from AXA Insurance questioned the public on which direction the design of homes will go over the next 20 years.

One of the biggest changes to life at home across the last decade is the number of homes that serve multiple purposes. While in the past a home was a place to relax, home offices have become almost common in the modern day as working from home becomes more and more prominent.

Currently, 29% of respondents have a dedicated office within their home, whilst 64% of them believe that working from home will grow in popularity, with home offices predicted to become a standard house feature over the next 10 years.

As a nation, we love our gadgets as more and more new technology seems to find its way into our homes. The survey found that 26% of respondents believed that over the next 5 years, homes will feature home assistant technology such as Alexa or Hive as standard.

The smart devices won’t stop there either, as 26% think that over the next 10 years all televisions and monitors in a home will become smart screens and offer a multitude of functions.

Almost 1 in 5 think that homes built in the next decade will be more robust, built to deal with more extreme weather and the same amount of survey participants believe that homes will be more environmentally friendly and solar panels will be more prevalent.

In terms of getting around town, 20% feel that electric cars will see a surge in popularity over the next decade and 25% think that over the same period, charging points at home will become more common.

Managing Director at AXA Insurance – Gareth Howell – spoke on the results of the survey, he said “Throughout the decades AXA has seen a number of changes in the way people live their lives and the homes they reside in. Today more than ever, people are starting to use their homes for multiple purposes and are relying more heavily on new technology, and this is set to continue. In the next five, ten and twenty years we expect homes to change once again, but into what is a conversation we all need to have.”

What To Consider When Designing Your Garden

Plants, furniture, and space. These are the three most important areas where you should direct your attention when planning your next garden makeover.

If done well, you can create a space that is as aesthetically pleasing as it is practical for the whole household.

In fact, unless your garden makeover involves a complete upheaval and redesign, there is very little that can go seriously wrong. But just to be sure that that doesn’t happen, we have a few pointers that we think can help you make the best of your garden – however big or small it is!

Plant planning

Nothing will bring more life to your garden than filling it with plants of different shapes, sizes, and colour. And if you ask us, the greener the better. Over the past few years, correlations have been made between mental well-being and time spent in nature, so line your garden with green and rake in the benefits.

Potted or planted? Depending on your garden type, this decision may be made for you, but if you do prefer potted plants, try using buckets or ornamental vases for artistic appeal.

Another important decision to make is the choice between low maintenance or high maintenance plants. If you don’t have a particularly green thumb, you should consider plants that will need minimal care and that last all year round rather than ones that need to be replaced seasonally.

Make yourself at home

Comfort in your garden is non-negotiable. Why design a paradise that can only be enjoyed from afar?

Your furniture needs may be determined by your household size and whether you frequently invite guests over or not, but don’t let that deter you from splurging on seating, there is no harm in having too many seats or cushions to choose from!

Nestle your tables and chairs amongst your shrubs and flowers, and create a tranquil living space.

Making every inch of space count

Having a small garden does not mean that you have to have no garden at all. Create your own mini haven by surrounding your outdoor furniture with shrubs that are ideal for privacy. And to make your secret garden even more charming, use feature tiles, fairy lights, and textiles.

Once you‘ve used up all of your floor space, why not move upwards? Climbing trellises along your walls and fences can add an elegant touch.

As can shelves bearing potted plants along your exterior walls. This will add a contemporary and sophisticated look to your garden and will make use of space that would otherwise have been wasted.

Design away!

Whether you prefer minimalist or busy designs, make your garden your own by taking the time to carefully plan it. If you do prefer the thought of a simple garden, use symmetry to your advantage.

Flowers, shrubs and trees will add a healthy look to any garden, especially when there is a higher patio to grass ratio. Make the most of your lawn space by moving vertically along your walls with trellises and outdoor shelving, and use pots that add character to your garden.

Furniture serves more than a practical purpose. Your outdoor seating should be arranged to maximise your space.

Tips: Money Saving Advice For Your Home

There are a few changes that you can make around the house that could save you hundreds of pounds a month! Some of them are as simple as clicking a button or turning a dial.

Switch your utility supplier

Your first port of call should be your utility bills. A recent study by Energyhelpline found that the average household can save over &600 a year by switching suppliers. You should consider changing the supplier of your television package, broadband and energy to a competitor who might offer you a better deal.

Consider your energy set-up and habits

Switching supplier is a good start, but your next job is to take a closer look at your energy habits. This can be as basic as turning your thermostat down by a few degrees or making use of the timer control on your boiler. Clothes horses can be utilised to dry your laundry, meaning you don’t need to have the heating on for longer than required.

If you want to make more of an impact on your energy bill, you could also consider your property’s energy efficiency. To combat wasting energy, you could deploy draught excluders around the house to trap heat or hire a professional to examine the insulation in your walls and roof.

Turn electrical appliances off when not in use

The Energy Saving Trust recently revealed that across the UK, households were spending between &50-86 a year on gadgets in a ‘non-active’ or standby state, equivalent to 9-16% of the average electricity bill.

Set your washing machine to a lower temperature

Washing at 15 or 30 degrees rather than 40 degrees can save you a third of the cost to run the cycle. Think about how much that could be saving you on the day you decide to tackle the overflowing laundry basket!

Switch to a cheaper mortgage deal

Mortgage repayments are often the biggest monthly expense a household will have, so it could be worth checking if switching to a new deal can help you save.

For example, if you have a &180,000 20-year mortgage, a deal that charges 4% would cost your household &1,091 a month. Remortgaging to a 2% rate could save you &180 a month (&2,160 a year).