Home is where the heart is
1st of October, 2020
Home is where the heart is.
Article first published in That Ilk. Bearsden and Milngavie's online magazine. www.thatilk.org
In the blink of an eye, the trees are dappled in burnished reds and golds. That first waft of coal fire smoke garnishes the dusky sky. Dust off your boots and dig out your gloves…Autumn is here.
Contrary to the doom and gloom forecast for the economy in the media, Summer brought with it the UK’s busiest month of house sales in a decade.
Everyone agrees, the housing market is booming.
So, alongside those who had their already in motion moving plans scuppered with the National lockdown, and were out en masse as soon as restrictions were lifted, who else is moving, and why?
Let’s start with the crucial first rung of the property ladder, the first-time buyers. Having spoken to many buyers ‘fleeing the nest’, the few months spent full time at home has sparked a desire for independence. And with social activities being curtailed, commuting non-existent for most, an all-inclusive meal and drinks package (thanks Mum & Dad), many were able to significantly increase their savings pot.
Star crossed lovers, kept apart for months, now feel ready to branch out and start their lives together, looking for that first dream home.
There has been a lot of interest from family buyers looking for larger homes. Home schooling and entertaining on rainy days has fuelled their desire for more space. Must haves? Sunny garden areas, and room for a home office.
Downsizers too, many feeling the pull to be nearer family, the sea, or a more rural location with a quieter pace of life.
So, along with crisp misty mornings and crackling log fires, what delights does autumn hold for those considering selling?
House hunters searching in Autumn tend to be keener to make an early decision. After all, everybody wants to settle in ready to start enjoying their new home in time for Christmas. In fact, ‘a quiet and settled Christmas’ can be a real driving factor. Buyers are more motivated than ever to get the deal done.
Autumn can be a wonderfully successful time to sell your home! But following the summer surge in home sales, will autumn sales follow suit?
Kate Forbes seems to think so; the Finance Secretary's recent cuts to LBTT (Land Buildings & Transaction Tax) now extend until March 2021 and with the threshold raised to £250,000, less than 20% of buyers will have to pay any LBTT at all.
Looking into a crystal ball, it does seem like human resilience, a strong desire to make a change, improve the work/life balance, and enjoy more time outdoors, will continue to inspire home movers into 2021. After all, our homes are our havens, and after spending so much time in them this year, there has been a real firming of requirements for people at every stage in life.
If you would like to know whether your home would be a good contender for a Autumn sale, I’d love to hear from you – call me for a chat on 0141 266 0126, or send me an email at fiona@fionawrightproperty.com. Whatever your plans, chatting them through in full confidence can help. I’d be proud to be part of your moving journey.