Sunday, 26 September 2021

Talking Property:Downsizer homes

WE have had two interesting market shifts, in that there has been a lot of interest from London

WE have had two interesting market shifts, in that there has been a lot of interest from London commuters in this area.

In Sonning Common village itself, there has been a huge demand for downsizer homes. By that we mean within walking distance of the village centre, low maintenance homes.

As the village has such great facilities, we have had numerous applicants from outside the area wanting to move in, but of course not releasing anything to sell locally.

The new home sites have attracted a lot of interest from downsizers as they’re ultra-efficient and cheap to run and maintain. The vendors can bank some cash, throw away the DIY tools, and start living life.

Prices in general are at their highest-ever levels, and this, coupled with a severe lack of supply, creates a vicious circle of local vendors not seeing anything to buy, so in turn, not going on the market.

Local home owners need to be assured that they are in complete control of the process, and that by putting their house on the market they will not be pressurised to sell.

Our advice is to get on the market, secure a buyer then look for their next home. Ensure that no solicitors or surveyors are instructed, so no costs are incurred by either side, until a solid chain is completely in place.

This avoids undue pressure, should the local vendor not find anything, they can then withdraw with no costs or hard feelings. The important thing to all is to be clear, transparent, upfront and honest throughout the process.

We had great success with this strategy last autumn, in that a very desirable house in Kidmore End attracted a huge number of applicants from outside the villages, and especially from London.

The vendor, through us, secured an applicant who had sold, and was prepared to wait in rented accommodation whilst our vendor searched.

Happily our vendor found one of those rare properties with land and extension possibilities, in a very desirable area. Because they had the buyer secured, they were able to jump on it.

It took time and patience, but because everyone was clear at the start there was no stress involved and this week they have all moved in to their respective dream homes.

The other benefit of this strategy is that at least the vendor can test the pricing, as no agent knows for sure what the actual price of any house is. So if he is overrun with applicants — yippee, go for best and final offers.

Or, if there is a wide-open space on the doorstep, then it may have been overcooked.

The great majority of market activity in 2015 was mostly in the first half of the year and judging by the volume of new applicants registering, 2016 has  started off well.   So join in and see what the possibilities are.

More News:

POLL: Have your say