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.
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.
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 firstname.lastname@example.org or Michelle Hendrie on email@example.com.
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).
Our Director, Jennie Hancock, provides some of her top tips for buyers in today’s Times Bricks & Mortar for purchasing a West Sussex country house next year, to include agreeing to long completions and reducing your budget.
For more tip tips by Jennie, read her latest blog on other tricks for country house buyers in 2022.