The latest news from Wood & Pilcher

Why is now the time to buy a second home?

After a year without the ability to socialise or travel, many Brits have been able to save a considerable sum, with savvy savers now wondering what to do with their sizeable nest eggs.

 

As many as 74% of millennials are more interested in the idea of investing following the pandemic,* with property remaining one of the key areas to see returns.

 

Before buying your second property, have you asked these key initial questions?

 

What's the purpose of this investment?

 

It's worth considering if you're wanting to pursue a high involvement strategy, flipping homes for profit, or you'd like to opt for a lower involvement and more long-term plan, such as letting or owning a holiday home.

 

Having an in-depth discussion with a local agent will help you to determine your financial position, as well as the plan most suited to your goals and interests.

 

The hidden costs of running your second home

 

As with all undertakings that require a financial and personal commitment, you need to make sure you have a thorough understanding of the responsibilities and costs.

 

When becoming a landlord or holiday home owner, you need to think about insurance and bills, as well as how you plan to manage and grow your rental income.

 

Likewise, flipping properties can come with considerable bills to pay if you make hasty decisions along the way, so you should have a budget that's realistic and practical.

 

Unoccupied insurance for a holiday home

 

As holiday homes are usually unoccupied for the majority of the year, you will find that a regular home insurance policy won’t cover you.

 

This is because serious damage like a break-in or burst pipe can only be minimised if there is someone in the property.

 

It’s important you are upfront with your insurer about how often you will be visiting your holiday home.

  

Am I insured if I rent my property out?

 

If you decided to rent out the property, you face extra risks.

 

However, for some, letting could be a big part of why they bought the property in the first place.

 

It would be recommended to speak with an insurance broker, as this will ensure you have full coverage as a landlord whether the property is being occupied by tenants or not.

 

For any help or advice when it comes to property, speak to us.

 

 

*Finder.com

 

Will you be joining us this weekend at the Live & Local festival?

Taking place over the August Bank Holiday in Royal Tunbridge Wells’ historic Calverley Grounds, the Local & Live festival is a two-day celebration of the best live music and culture in our brilliantly creative town and beyond.

 

Now entering its fifteenth year, the festival has become widely recognised as an annual highlight in the regional events calendar.

Click here to read Will you be joining us this weekend at the Live & Local festival?.

We are proud to support our local business, PERRÓN

Burritos, tacos, cocktails, and the very best coffee is what Perrón is bringing to the table! Go and check them out for yourself! 

 

"Finally there is a place in twells for a decent taco, and on top of that, the cocktails are amazing. The margarita is perfect" 

Click here to read We are proud to support our local business, PERRÓN.

Knowledge is Power - vital information early on in your home search. 

 

At Wood & Pilcher we are only too conscious of how difficult and frustrating it can be to find out key information early on when searching for a property.

 

Key facts early on in a search can save precious time by way of unnecessary journeys and also costs that could be avoided if important information is to hand.

 

We are experiencing requests for property from a significant amount of new buyers from much farther away places as Covid-19 has changed the very fabric of how work and home relationships exist meaning people are visiting our towns and villages often for the first time in their search for somewhere new to call home.

 

So in order to facilitate this for the benefit of all concerned we are delighted to now provide various ‘Key Facts For Buyers’ for our properties that collate data into one handy available interactive or printable hard copy with information not just on the property in question but on pertinent points such as the distance to major travel routes including bus stops and train stations, local schools and their Ofsted ratings, amongst many other points.

 

See an example report here. 

 

We hope you like them as much as our clients and buyers do.

 

Please contact us if you would like to discuss this or any of our marketing strategies further.

 

 

Not only do Wood & Pilcher provide you with an honest price for your home, but we also know how to present it to the market.

 

We pride ourselves on the unbeatable knowledge and passion for detail for all of our clients. With our large database across Tonbridge, Southborough, Tunbridge Wells, Crowborough, Heathfield & the surrounding areas, we can thoughtfully match your home to the right buyer.

 

We do have some tips for you to help along the way:

 

What's involved?

In a property valuation, the agent will look at your property's location, its features, and what the current buyer demand is like from properties being sold in your local area.

 

What are the benefits?

A well-done valuation will give you a realistic idea of your home's value, and what you'll likely sell for. The agent will most likely make you aware of any factors in the market that could impact the time it could take for you to sell.

What should you look out for?

A high estimate could be an agent trying to get business, whilst a low estimate could be the agent trying to get a quick sale. Always do your research first to suss out local property prices around you. Trusting your agent is very important.

How often should you get an appraisal?

Even if you don't have any plans to sell, the property market has been known to move by as much as 25% in a year, so we would recommend having a valuation every couple of years.

 

Are you thinking about moving? Take the first step and get your property valued with Wood & Pilcher. Book yours below.

 

 

Click here to read .

David Carpenter: The luxury watch specialist local to you! 

They are a team of experienced watch craftsmen, located in the heart of Royal Tunbridge Wells, Kent who share a combined passion for luxury timepieces.

 

Working with brands including: Breitling UK, and Audemars Piguet and have experience handling most premium timepieces such as Omega, Rolex, Cartier, Tag Heuer, Tissot and Rado. 

Click here to read David Carpenter: The luxury watch specialist local to you! .