How Much Does Disrepair Put Off Homebuyers?

In this month's edition, we look at the Government's proposals to introduce three-year tenancy agreements. We also focus on the recently revealed details on national planning for new homes in England, and look into the effects of disrepair on homebuyers. 

Also, please enjoy our guide on creating the perfect home office environment!

Government Proposes New Three-Year Tenancy Agreements

 

In an effort to make renting a viable long-term option for thousands of people, the Government have proposed a three-year tenancy agreement.

Historically, the standard lease for renting a home will be between 6-12 months. However, this new proposal puts forward the possibility of a minimum three-year lease in the hope of improving stability for tenants.

These plans have been put out for consultation until the 26th of August, and there are still many details to be discussed, along with some rules and regulations, that would need to be put in place. Still, there are plenty of questions on how this type of change could impact the rental market, and it has understandably caused a bit of a stir amongst landlords and investors.

Longer minimum tenancies would undoubtedly be positive for tenants, who would now have the opportunity to secure a home for a longer period. It will also allow them to settle down with some added security, and potentially avoid any costs that come with moving into and renting a new home.

As for landlords, the change could be a benefit depending on their portfolio. It is expected that small-scale landlords may not like the idea of being tied down for a longer period, whereas some larger investors with multiple properties could welcome the new rules for more financial security.

The Government's data revealed that on average, most tenants rent a home for just under four years, while the vast majority of rental contracts (81%) are 6 to 12 months long.

Full details on the proposal have not been revealed just yet, but it does mention that it would give tenants the chance to leave before the end of their tenancies.

Secretary of State for Communities, Housing and Local Government James Brokenshire commented on the proposal, and the motivation for putting it forward:

 

“It is deeply unfair when renters are forced to uproot their lives or find new schools for their children at short notice due to the terms of their rental contract. Being able to call your rental property your home is vital to putting down roots and building stronger communities. That’s why I am determined to act, bringing in longer tenancies which will bring benefits to tenants and landlords alike."

New Details Revealed On National Planning For New Homes In England

 

A new national planning policy has been published by the Housing Secretary, and has outlined the Government’s vision for new homes throughout the UK.

This revised national policy has a focus on giving communities the opportunity to have their say when it comes to developments in their area and hopes to set new standards for both quality and design.

Put into place earlier this year by Prime Minister Theresa May, this new framework aims to provide a full and clear set of guidelines that would help build new quality homes more efficiently.

These new rules focus on several key points, such as promoting high-quality design, stronger protection for the environment, building the right number of homes in the right places and greater responsibility and accountability for housing delivery from councils and developers.

Secretary of State for Communities, Housing and Local Government James Brokenshire stated:

“Fundamental to building the homes our country needs is ensuring that our planning system is fit for the future. This revised planning framework sets out our vision of a planning system that delivers the homes we need. I am clear that quantity must never compromise the quality of what is built, and this is reflected in the new rules. We have listened to the tens of thousands of people who told us their views, making this a shared strategy for development in England.”

Moving forward, local councils will be granted the tools to refuse permission on any new developments that they feel do not compliment the surrounding area or prioritise design quality.

In addition to this, communities will now have access to information on potential developments and design plans so that they can have their own input on the changes to their area, whilst also ensuring the new homes improve the area.

The new policy also has considerations for the environment; strict rules will be in place to make sure that new buildings do not restrict any nearby wildlife, and instead give it the opportunity to grow. This is in keeping with Defra’s 25 Year Environment Plan, which looks to prioritise both air quality and protecting natural habitats.

Of course, while there is a focus on providing more homes throughout the country, the government wants to use this new policy to ensure homes are built in the right places, to help improve the housing market's current affordability issues.

Also included in this new initiative will be the Housing Delivery Tests which will be available from November 2018, and focuses on helping councils increase the number of homes that are actually delivered and not just how many homes are planned for development.

How Much Does Disrepair Put Off Homebuyers?

 

When viewing a property, we’re all on the lookout for anything and everything that needs fixing, or could use a bit of work.

While we’d all love to find a home that requires no work at all, chances are whenever you buy a property, it will come with its fair share of much-needed repairs.

But what type of damage to a home is most commonly a deal breaker for prospective buyers? Well, GoCompare have sought to find this out.

New research from the comparison site has quizzed people on which types of disrepair would lessen their enthusiasm for a home and what would completely kill their interest in a property all together.

It was found that damp was the biggest hurdle for buyers, with a huge 69% of survey participants stating that signs of damp on the walls and ceiling would force them to withdraw their interest in a home. This is understandable, as damp left unchecked can lead to some very serious structural issues.

Not too far behind in the survey results was bad odours; 63% of those quizzed said that smells such as damp, food, cigarettes or pets would be a deal breaker.

Rotten windows and peeling paintwork took 3rd place in the results, with 59% saying that they would not put in an offer if they spotted these blemishes on a home.

As expected, not having a space to park your car is a big issue for 56% of buyers, and it is no surprise that in today’s always-online world that 53% desire a high-speed internet connection. The same percentage of participants would be put off a home if there was any work on the property that was uncompleted.

Some of the other negatives that made the list were neighbours with a messy garden (48%), a dirty interior (46%), outdated electrics (46%) and poor natural lighting (43%).

GoCompare Insurance spokesman Ben Wilson offered his comments on the findings of their research, stating:

 

“Buying a home is a major investment, and most people are put off by outdated properties or those in a poor state of repair. While dated décor can be remedied easily and relatively cheaply, major flaws from poor maintenance or badly botched DIY can be expensive to put right. A grubby home and untidy garden may suggest the current home owners are not only bad at housework, but may have neglected essential maintenance to the property.”

Read Our Guide To Creating The Perfect Home Office

 

A home office is one of the first exciting steps towards running your own business. However, if every aspect of your space hasn’t been optimised for working, it may have an impact on your productivity.

Find the balance between your work style, home life and available space

If you need a quiet location to get on with your work, you could convert a garage or loft, or if you prefer a calming view, you should select a room facing the garden.

If you run a business from home so that you can look after the children, an office near the living room or kid’s bedroom would be the best location.

In some cases, it simply comes down to the available space. For some, dining rooms are an obsolete ideal, making it an ideal office space. For others, a cupboard room or spare bedroom that serves no purpose is the ideal candidate for a home office.

Avoid falling into the aesthetics trap

There’s an increasing number of offices that are adding unnecessary technology and furniture purely for the aesthetic rather than function. Take it from us, that 4K TV and wire rack of industry magazines are an expense your business doesn’t need, and will only serve to distract you from your work.

What furniture does your business need?

Will you be keeping lots of paperwork and written records? Then you’ll be needing plenty of storage for keeping it all secure and organised. Will you be working on the road a lot? Then maybe that &500 desk you’ve got your eye on isn’t a necessary business purchase. Your home office can be edited and rearranged at any time, but it's important you buy the right furniture to suit your business.

Choose the right equipment

A worker is only as good as his tools. Firstly, you need to decide what equipment is essential to your business. A high-quality laptop or desktop computer will likely be worth more to your business than a fancy iPad Pro. There’s also the seemingly vital equipment like printers. If you’ll be printing on a daily basis, then this justifies the purchase, but if you only need to print the occasional item, there are probably printer shops in your area that will only charge you pennies for their services.

Consider the colour of your room

We don’t know it, but we subconsciously interact with the colours around us. Cooler colours like blue and violet tend to relax us, whilst reds and yellows grab our attention and excite us. Finding the right colour combos that work for you is the key to creating the perfect home workspace.