Being a cash buyer when purchasing a country house is more important than ever before. Our director, Jennie Hancock, spoke with Times journalist, Carol Lewis, as she writes about why it has become the minimum entry requirement for buyers now, and how at the top end of the market, purchasers are retaining buying agents to help them stand out from the crowd. Read the full article here.
When searching for a country house over the years, you may have noticed that some property listings have POA (price on application) rather than the price next to it. The term exists as a way to conceal the asking price from the general public, however the National Trading Standards have outlawed it from the end of May, forcing estate agents to disclose the price on portals.
There are a variety of reasons why estate agents offer POA, and in my experience it’s usually driven by the vendor wanting to disguise the asking price. This could be for personal reasons such as death, debt or divorce, to attract serious buyers only as POA properties tend to usually be at the higher levels, they are a celebrity, or they just don’t want their neighbours knowing how much their home is worth.
However, many buyers find it misleading when they do not know what the price of a house is – forcing them to make contact with the associated estate agent to find out more details which they can find tedious and off putting.
It’s a strategy that has been in place for some time now, and over the last year alone, a large majority of homes I find and purchase for clients are POA. The advantage of me being the buying agent of course is that I can find out the price pretty quickly for my buyers, providing clarity from the start of their house hunting journey. For those searching on their own, they haven’t had this luxury…
So for buyers, the removal of POA is really quite triumphant, as it will provide far more transparency and clarity from the offset.
I also believe more homes will be sold off market as a result, because it’s a way of keeping the price out of the public eye if vendors want/need it to be. This is beneficial for prime country house buyers as they still get to know the asking price from the offset, but they also have a much better chance of actually finding something to buy. With demand as high as it is still, many are struggling to find anything to purchase on the open market due to the lack of homes for sale which has led to intense competition for them. There has been a bit of a market frenzy for prime homes in West Sussex over the last couple of years, rife with sealed bids, bidding wars and properties selling up to 20% over the asking price. Whereas when purchasing a property off market, the competition is much less because the general public won’t know it’s for sale.
Almost all of my acquisitions for clients are off market now, and often it is just my buyer looking at the house and nobody else. This is a privilege that’s worth its weight in gold for many house hunters.
For more information about the finding a country house off market in West Sussex, contact Jennie Hancock on +44 (0)7776452128.
You will have no doubt read about how much prices have grown over the last couple of years across the nation, as post pandemic buyers rushed to buy their dream home in the country. With house hunters who raced to outbid each other now being caught out as the market starts to cool, our Director, Jennie Hancock, chatted to the Daily Telegraph about the advice she gives to clients when it comes to making an offer.
Our Director, Jennie Hancock, has been quoted in The Spectator about buying a Georgian home. At Property Acquisitions we are receiving an overwhelming demand for this style of house. The elegance of design seems to take priority over energy efficiency, with the era even more popular than Tudor houses as they are usually larger and offer more light. Often spread across three or four floors, Georgian houses give more options for accommodation too, allowing for a floor for the kids or a nanny, for example. Buyers also love the high ceilings, cornicing and shutters.
With the fourth booster well and truly underway, downsizers are starting to feel more confident about letting buyers into their homes. As they begin their house moving journeys once again following two years of covid-hibernation, this has meant we are receiving more enquiries from those searching for a smaller country house. There are many benefits for doing so…. for example less maintenance, releasing equity, improved accessibility, lower energy bills and in today’s market, you could make a nice profit on the selling price, to name a few. With that in mind, our Director, Jennie Hancock, shares some of her top tips…
Start your search early
When you decide to sell it’s a good idea to start your property search at the same time. This is simply because there are far more buyers than there are homes for sale, so whilst you may find your current house gets snapped up once on the market, it doesn’t mean you will find something else just as fast. The good country houses for sale are often sold off-market, so speak with local estate agents about what is coming up, or use a buying agent as they tend to have access to them before the general public does. Plus there’s far less buyer competition for you as well!
Downsize belongings
Downsizing will mean you will probably have to sell, donate or throw away quite a few things. When looking for your next home, have a good look at the floor plan. Will it fit your belongings without feeling too cluttered, or will you need to reduce them some more?
Consider long-term flexibility
Long-term flexibility is definitely something to explore. Although this may not be a requirement yet, there may come a time where it would be very convenient to have the master bedroom downstairs so that you’re close to the kitchen, living room and garden. An annexe outside is another option to consider. These can provide great accommodation for live-in carers in later years should one be required.
Find a manageable garden
A smaller garden will mean less upkeep. If you plan on hiring a gardener then size doesn’t really matter, but if you are going to be responsible for looking after outside space then you want something that is low-maintenance. I would usually recommend to my downsizer clients not to purchase something with more than half-to-one acre.
Local communities are key
One of the most common questions I’m asked by downsizers is ‘does this area have a good local community?’ These are the beating heart of many locations in West Sussex, and are great ways for getting to know the locals and becoming a core part of the community. Village halls often have regular backgammon nights, film evenings or yoga classes for example. Some of the villages even have croquet lawns or tennis clubs which are very popular with those enjoying their golden years. Close knit communities also come together and provide huge support.
Don’t be too remote
Although it can be a luxury not to have a neighbour directly next door, you don’t want them so far away that there isn’t anybody around to help you if you’re in a pickle. If you’re living on your own, knowing residents are around you will help you feel more secure too.
Mobility may also be an issue in the future so having easy access to public transport will be very useful. In towns and cities there’s usually quite a good set up, but if you’re seeking a village ask how far away the location is from shops, cafes and so on. Some even provide residents with a community bus which takes them to their local supermarket or town centre.
Just in case you need regular medical help or emergency care at some point, it’s also worth thinking about distance to hospitals.
Do you want a ‘lock up and leave’?
Many over 50’s want to travel more, so choose a home that allows you the freedom to do just that. Whether a weekend break or a global adventure, smaller houses mean you don’t need to worry about what might happen to the property or garden whilst you’re away. You want to literally be able to pack your luggage, close the front door and relax.
How many bedrooms do you need?
This really depends on your circumstances but if you have lots of grandchildren who like to stay with you, then you need to make sure you have enough bedrooms for them and their parents. The same applies if you like to entertain friends too. Generally, my downsizer clients are looking for three bedrooms and two bathrooms when looking for a smaller house.
For more information about the benefits of purchasing a smaller country house in West Sussex, contact Jennie Hancock on +44 (0)7776452128.
Our Director Jennie Hancock is quoted in Country Life magazine’s buying agent special this week, where she provides her thoughts on what is happening in the West Sussex property market currently. Here is a list of all of the tips Jennie provided, some of which made the article.
1. What do you think will happen in 2022 from a property perspective?
There has been a shortage of good quality homes for sale throughout the pandemic, but as spring begins, we should start to see more appear throughout the warmer months like we traditionally do. People don’t like to sell their lovely country houses between November and February generally. They want their gardens to be in full glory and so they have been waiting for the tulips, daffodils, greenery, blue skies and sunshine to appear. Beautiful gardens can really make a substantial difference to the price level. Homeowners are already discussing plans with estate agents and solicitors, and I’m hearing about far more properties from estate agents than I did over the winter period, so preparation plans are definitely underway. I have also had quite a few local homeowners ask me if I have cash purchasers I can introduce to them, who are prepared to purchase ‘off market’. This is because such sellers don’t want to have a massive footfall walking through their homes. They also know that buying agents have proceedable buyers who are able to pay premiums for houses in order to secure unique opportunities.
The intense levels of demand we have seen over the last couple of years should continue throughout the spring and summer as the nice country houses become available. However some may be worrying about how energy price rises and the bank rate increases may impact them. We might therefore see some buyers reduce their budgets or become more cautious about overspending.
2. What are your top tips for buyers?
Buyers need to be first in the door if they are to have a good chance of securing their dream country house, which is where the value of a buying agent comes in. We are aware of everything that’s coming up for sale on the open market and off market, long before the general public knows. Buying agents also have all the right contacts to be the only person that knows about a property for sale as well, reducing the competition tremendously.
Find out why a vendor is selling. This is absolutely essential when determining the sort of offer you should make. A buying agent will have done all of the research themselves to find out this information.
Have a good look at land registry information because you can check a lot of detail that is not on the agent’s specification.
3. What are the pitfalls to watch out for?
It’s very easy to over pay for a house you’ve fallen in love with, so be careful not to get caught up in any bidding wars. Think sensibly and be prepared to walk away if you have to. There will be another property somewhere else.
If you’re not a proceedable buyer, you won’t get the house. You need to be ready to go, especially if you plan on retaining a buying agent. This is why many estate agents like to contact us first because they know that we vet all of our clients before hand to ensure we bring to the table serious buyers only. This can mean having sold a property already or having the funds available to purchase either with cash or with cash/ a mortgage.
Choose your location wisely. Pig farms as neighbours and the noise from a main road on your doorstep you will soon regret!
If Property Acquisitions can help with your property search in West Sussex, contact Jennie Hancock on jh@propertyacquisitions.co.uk.
Many homes are being purchased in and around West Sussex with a new love in mind; a dog. With plenty of walks to enjoy in the south downs, along the Chichester coastline and everywhere in between, it’s of no surprise that many of my clients over the last year have been keeping their four legged friends in mind when searching for their dream country abode.
Statistics state that in 2020/21 there were 12million dogs living in the UK, with 3.2million households purchasing some form of pet since the start of the pandemic.
However, if you’re thinking about moving this year with your beloved dogs, there are a few things to think about on your property search…
As a dog owner myself to labradors, I know that dogs love to find an escape route from the garden, so fencing all the way around is an absolute must. This is especially true if the land backs onto a farm as you need to prevent your dogs from chasing livestock.
Pools and ponds may be great fun for family and friends, but for dogs they can be very dangerous. You’ll need to invest in some form of fencing to keep them safe if there isn’t already something in place, especially if there is a pool cover. I’ve seen this done really nicely with picket fencing for example, but if you have small children too, this acts as a safety net for them as well.
The desire for utility rooms has shot to the top of the list for dog owners over the last couple of years. They have become essential for washing off the salty sea from one of the local beaches or mud in winter, as well as drying. One buyer for example asked me to find a house that had a dog room and a downstairs shower, but I’ve seen utility rooms with all kinds of cool dog stations and salons within them.
Avoid being on a main road or any busy road, just in case your dog decides to dash out of your front door.
Whilst we are very lucky to have some lovely beaches on our doorstep for dogs to run and enjoy the sea air, some do have seasonal restrictions. Most of the beach websites do have their rules listed on there to check, but between May to September for example, dogs are allowed on West Wittering outside of groynes 14A-18 (the area between the beach huts roughly). Whilst at Church Norton, another stunning coastal spot, dogs can be off the lead but they may need to be on for a short while due to the nature reserve.
On local walks, be sure to keep an eye out for livestock if you’re crossing farmers’ land. There are some great routes around this area to include Itchenor, Birdham, Halnaker Windmill Trail and Kingsley Vale.
Research which villages and local towns have a good dog community. Many have their own Facebook community pages which are very useful sources of information. For example, you can use these to ask for vet, groomer and pet sitter suggestions, or make people aware your dog has escaped so that the local community can keep an eye out and report back any sightings. If there’s a pub, café or restaurant, find out if dogs are allowed inside, and enquire about the local walks. I’ve even been asked if there is a dog show at the local village fete quite a few times. The Kennels at Goodwood have even started their own dog event now!
Owning a dog is definitely a way of life, and they have long been established as being our loyal best friends. From helping your homes feel more secure and allowing you to socialise with other canine friends on walks, to greeting you with their waggy tails as you walk through the front door, dogs can really help boost your mood dramatically whilst encouraging a healthy fitness routine too. It’s therefore no wonder that buyers are making them a priority when searching for their dream country house in West Sussex. For more information about how Director Jennie Hancock can help you with your search, phone +44 (0)7776452128 or e-mail jh@propertyacquisitions.co.uk.
The gap between property prices in the capital and those elsewhere in the country are the narrowest it has been for almost a decade, as reported in today’s Times Bricks & Mortar. Our Director, Jennie Hancock, speaks with journalist Carol Lewis about what she is seeing in West Sussex, as the balance of the country’s property market shifts as working from home takes hold. Read the full article here. (paywall)
According to a report, older people swapped their family home for a smaller property in the highest numbers since 2016, but where did they move to? Our Director, Jennie Hancock, speaks with the Daily Telegraph as they explore why, where and how downsizers cashed in on the property market boom. Read the full article here (paywall).
ADDRESS
Peacock Lodge, West Lavant
Chichester, West Sussex PO18 9AH
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