Q: Is it better to buy a run-down house and do it up, or buy a new build?
A: When improving an older house you can put your own stamp on a property but you need to be very sure that improvements will add value. Two and two used to make five as there was usually profit to be made but that’s not necessarily the case these days. Labour and materials are significantly more expensive than they used to be plus planning levies need to be factored in. With a newer build, there is less opportunity to personalise the structure and when buying from a developer you are paying the equivalent of VAT so be prepared to see the value of your property reduce before it increases. The best deal can be to buy something that has been lived in for a couple of years which has had the ‘homely’ touches such as sheds, summer houses, interior décor and landscaping added already.
Q: What is your advice for first-time buyers?
A: It’s great to see genuine first-time buyers reappearing in the market just now. As the government has steered the buy to let market in a less profitable direction, and with the
saving on stamp duty, first-time buyers have re-emerged which is healthy for the housing market as a whole. My advice is to move as quickly as possible to take advantage of these circumstances and get on the ladder as quickly as you can – nearly a generation have missed this opportunity so don’t let it pass you by.
Q: How is your new ‘drive-through’ showroom going to work?
A: The whole concept is based around making everything easier for both buyer and vendor so Moores is moving to our new retail park site where ease of access, covered parking, car charging points and a coffee shop environment will change the face of agency in this region. It’s a one-stop-shop – all the professional support will be on site from solicitors, to surveyors, architects and financial services making buying and selling houses far less stressful and much more enjoyable all round.