Property Advice from Basil Drinkwater

Information and thoughts on property by Basil Drinkwater

The fitted kitchen
One essential item in your newly purchased property is a fitted kitchen, but a new kitchen can be a very expensive item,
Sometimes you can minimise the cost, if you’re old kitchen can be upgraded, by replacing the doors and fittings, this can be your cheapest option.
If you require extra units or you want to re organise your kitchen, you could consider purchasing a complete kitchen from the local d.i.y. Sometimes they sell demonstration kitchens off cheaply, but remember to measure carefully to see if it will fit,
When measuring allow for extra units such as washing machine, tumble dryer, dishwasher, fridge, freezer, also make sure there are power points adjacent to where you want the machines to be, also don’t forget plumbing to the washing machine, hot and cold water and a drain nearby
. Always get a skilled tradesman to do the plumbing and electrical, even if you can do the rest yourself
Another alternative you could call a kitchen company to send in a rep, and he will measure and give a computerised drawing showing all elevations, this part is free but you will have to pay for the kitchen, expect to pay three to seven thousand for the average made to measure kitchen, depending on quality. But make sure you get a reliable company to do the job.
Something else you could consider is using paint to spruce up your old doors and tiles, the tiles need a special undercoat but otherwise the job is quite straightforward and can be very effective, remember the flooring will probably need replacing and will need to be cordinated with the colour scheme.
See b&q - diy kitchen advice

Anyone contemplating buying property should consider the following; never consider a leashold house always buy freehold
Next remember the old adage location location location. What are the neighbours like do they have unruly children do they have noisy parties at the weekends, are there old cars being dismantled in the garden is the garden in a tidy state? Is there conifers overhanging the boundary (a source of many disputes) is there a car parking space offroad or is there a garage
Another thing that should be considered is the property in a desirable area? Are there derelict houses in the street all these things will have a bearing on the value of the property
Is the property in good condition? Or does it need money spent on it.
A full scrutural survey although may seem expensive is cost effective (could be a useful bargaining tool.)
When viewing always try and find things to reduce the price, is that a loose tile on the roof, is there a trace of damp around the skirting, although the surveyor should have suss it,. Is the central heating working if any?
. Remember central heating is expensive to install. (Most people like to have it)
If purchasing with a mortgage the building society will insist on values and a full survey report. (They are very careful with their money.
If a house has been left empty for some time it becomes more difficult to sell unless the price is reduced, sometimes considerably
When viewing always consider is there scope to extend, although not if in a poor area, not much good having the most expensive house in a cheap street.
Finally make sure there are no overhead power lines or mobile phone masts nearby, these can affect property prices.

Further advice on buying and renting property
Always use a solicitor when purchasing a leasehold property, most leases are drawn up in very complicated jargon, remember buying a house is much more complicated than selling.
The government is thinking of making it compulsory for sellers to have all details about their property as a seller’s pack, which includes planning permission certificates details of the deeds and other relevant details, ready for inspection by purchaser.
[Renting from a private landlord.]
The rent act protects tenants eviction. The acts have been designed to deal with landlords who try to evade the law.
Letting agents who also offer to manage the property (for a fee) lets most rented houses and flats. This is by far the best way, they usually have watertight agreements to protect the landlord from unscrupulous tenants, they make sure the tenant is vetted also they collect the rent, so make sure the agent is reputable, usually part of a national chain. Also they will have a ready supply of suitable tenants ready to move in quickly, leaving you to pick up the cheque less their fee of course but it will be money well spent. As they deal with everything. Another thing to remember is maintenance and certain other expenses are tax deductible, get a good accountant. Buy to let can be very profitable but there are pitfalls, if all else fails you can always sell the property.if you purchased at a bargain price, it should get you out of the mire.if you can get the tenant evicted quickly. The rent act is very complicated, but the letting agent should give you the best advice.

Rent a room scheme info from the inland revenue -IR87 Letting and your home
Including the 'Rent a Room' scheme and letting your previous home when you live elsewhere

Increase the value most with an extension (extra bedroom or living space) or updating the kitchen or bathroom, or even adding a garage, if you have the space will increase
Value most.
Budget around 10 to 20 thousand pounds for extra items to get your new house in fine fettle.
Newly built houses tend to make the most profit, we made over 50 thousand on our last house but it is now worth three times that. The housing market tend to rise and fall we are in a rising market at the moment, but if interest rates rise, this will have an effect on house prices. One last point if you sell a house or property that is not your main residence, that is you haven't lived in it for at least 12 months, capital gains tax will be payable by you, (your main residence is exempt)

Declutter - the four box method

How to sell your house