Spanish Minister Pledges to Safeguard Ex-Pats Following Brexit, 36% of First Viewings Lead to an Offer, Plus More

Welcome to Marena Murray's November Newsletter.

In this edition, the Spanish Minister of Foreign Affairs has pledged that there will be "no disruption" for British citizens following Brexit, and we share solutions for seven design dilemmas.

Also this month, over a third of first viewings lead to an offer and we debunk five common property selling myths.

Spain Pledges "no disruption" to Ex-Pats Following Brexit

 

 

One of the hot-button issues that dominated the debate prior to the Brexit vote and after is the rights of British citizens living abroad in European countries. Many ex-pats expressed the fear that they might be required to go through lengthy application processes to secure a new status within the country or worse, leave their new home.

Whilst the two sides have yet to reach a deal, any British citizens living in Spain or considering making the move before the UK leaves the European Union can breathe a sigh of relief, as the Minister of Foreign Affairs for Spain, Alfonso Dastis sought to reassure more than 300,000 Britons living in Spain.

"I do hope that there will be a deal," the minister said.

"If there is no deal we will make sure that the lives of ordinary people who are in Spain, the UK people, is not disrupted.

"As you know, the relationship between the UK and Spain is a very close one in terms of economic relations and also social exchanges.

"Over 17 million Brits come to Spain every year and many of them live here or retire here and we want to keep it that way as much as possible."

Citizens’ rights have been a constant matter of debate for both sides of Brexit, with European countries seeking assurances that their citizens will be allowed to continue living and working in the UK. There are reports that a deal is close, with Prime Minister Theresa May saying the two sides were "in touching distance" of finding an agreement”.

Seven Common Design Dilemmas

 

 

Unless you’re building your home from scratch, there are bound to be a couple of existing design niggles that you’re not quite sure how to overcome. However, there’s usually a simple solution! So whether it’s narrow spaces, awkward shapes or annoyingly low ceilings – we have the answer for you!

Dilemma 1 - A teeny tiny room
Solution: Install a huge mirror
If you have a floor-to-ceiling mirror you can create the illusion of a larger room. Floor-to-ceiling mirrors as a feature wall can work particularly well as it visually doubles the size of the room and allows light to bounce around the room.

Dilemma 2 – A waste of space
Solution: Treat it as an extension of the room
If you’ve got an annoying part of the room that lacks purpose – give it some! If it’s in the bedroom, why not purchase a clothes rail and display some of your favourite pieces outside of the wardrobe. If it’s the living room, try some built-in shelves and fill them with anything from books to framed photos – it’s a chance to be creative.

Dilemma 3 – A horrible view
Solution: Create a hideaway
Blinds are a perfect way to block out unsightly views and when in a sheer fabric, they still allow plenty of light through as well. Or you can use foliage as an alternative for outside spaces, not only will it hide any unpleasantries but it will also enhance the look of your own property.

Dilemma 4 – A narrow space
Solution: Bring in the stripes
Stripes can visually expand a room as they make your eye travel from left to right. It doesn’t matter if they are narrow or wide stripes, as long as they are horizontal. Whether you paint them directly on to the wall or opt for a stripey wallpaper, it’s one of the easiest ways to make a room look wider.

Dilemma 5 – A low ceiling
Solution – Tall curtains & transparent furniture
If you hang curtains from ceiling to floor with no visible rods or rails, the curtains create a waterfall effect that gives the illusion of height in a room. Transparent furniture pieces also work well as unlike opaque pieces, they do not stop light from bouncing around the room.

Dilemma 6 – Exposed plumbing
Solution – Embrace them
Having exposed pipes in your home doesn’t have to be an eyesore. In fact, it is often a typical feature of industrial buildings, ex-factory apartments or warehouse conversions. Embrace the ‘industrial feel’ and draw attention to them in a simple, yet sophisticated way. Paint them in contrasting colours to your walls and to each other depending on their function.

Dilemma 7 – When open-plan is ‘too open’
Solution – Divide the space
A room that is too ‘open-plan’ can be impractical and a little daunting when you don’t quite know how to utilise the space. Creating different zones within the open-plan room enhances its function and can offer privacy. A freestanding divider adds some structure and can also make a nice accent feature.

36% of First Viewings Lead to an Offer

 

Homeowners are often advised to view a property more than once before putting in an offer, but that hasn’t put off confident UK buyers. According to official figures, 36% of homeowners are willing to make an offer on a property after only one 30 minute visit.

On average, more than a third of home buyers were prepared to spend more than €251,000 on a property following one viewing.

Joe Gordon, of First Direct who performed the research, said ‘Every week thousands of home buyers are making six-figure decisions based on one quick tour of a property. Unfortunately, a lot of buyers then find they’re faced with expensive repair and renovation bills because they hadn’t done thorough checks beforehand,’

‘While the market is moving so fast in some areas, it’s understandable people feel they need to make a quick decision. But buying a property is the biggest financial commitment most of us will make so it’s vital to do your homework,’ he added.

“Whether you move quickly or take your time, it’s always advisable to have your finances in place before you start your property search, which is why first direct mortgage advisers are available seven days a week.”

The survey discovered that the majority of the impulse buyers tend to be older. It could be suggested that older buyers may have prior experience in buying property, which could be leading to higher confidence in their judgement and decision making.

67% of buyers under the age of 45 said they would need to have at least two viewings of the property, compared to 61% of those aged 45 and over.

Gordon adds ‘Older home buyers might be using previous experience when it comes to viewings and offers. When they see the property they want they’re confident about making an offer quickly. Younger buyers, particularly those entering the housing market for the first time, are more likely to take their time and may make offers on several properties during their search.’

Five Property Selling Myths

 

If you’ve recently decided to sell your home, then you’ve probably been researching all sorts of information and asking for plenty of advice from family and friends on how to get it all wrapped up smoothly and quickly. While there are plenty of great tips out there on how to maximise the appeal of your home, there are also a few myths that seem to be passed around from time to time.

Luckily for you, we’re here to fill you in on some of the selling tips that may not be 100% true or just wrong altogether.

You get out what you put in
A property purchase is an investment, but that doesn’t mean you need to sink every penny of your income into it. Upgrading or renovating areas of your home - in most cases - increase the value of your home. However, renovations are not sure-fire profit. Just because you put €3,000 into doing up your kitchen, it doesn’t mean you’ve added €7-10,000 to the value of your home. Also, if your taste in design is somewhat ‘unique’ then there may be a chance that you’ve turned one room from a generic blank slate, into a buyer’s worst nightmare. The key to putting money into your home is to focus on function and not fashion. Install any missing modern home features, but don’t burn through cash trying to wow potential buyers with your design skills.

You should always aim high
This one isn’t necessarily specific to the property market, but it’s a fairly mainstream belief that whenever you’re negotiating you start high and let them try and work you down to something more realistic. While this may be a good tactic in some situations, when selling a home, you have to keep in mind just how competitive the market actually is. When buyers search for a home they are most likely to look for properties priced below their maximum budget and try and bring the price down further. If your home is priced unnecessarily high, then it won’t even show up on some buyers' radar and you’ll be harming your chances of booking viewings.

Timing is everything
This is one of those half true tips. It is true that Spring is a good time to put your home on the market, the market is busier that time of year and there are smaller benefits such as the return of nice weather that improves the look of any home. But just because Spring is a good time to be on the market, this doesn’t mean that the rest of the year is a poor time to sell. Realistically, people are looking at homes throughout the year and there are plenty of factors that contribute to someone’s decision to move home. There is a chance you may receive more interest during the warmer months of the year, but if someone is willing to make an offer that’s right for you at another time, then there’s no point in delaying a move 3-6 months.

It’s the interior that really matters
This is another half-truth, the interior of your home is obviously quite important when trying to sell your home. However, the exterior also plays a large role. The exterior is your homes first impression, so don’t just assume that every buyer is going to take the ‘don’t judge a book by its cover’ approach to property. This doesn’t mean that you need to go all out by laying a new driveway and installing water features, but making sure the front garden is kept in good shape and doors or windows have a fresh coat of paint can go a long way in getting people in the door in the first place.

Buyers love a fixer-upper because they’re such a bargain
Although this may seem a bit of a contradiction to our earlier point, when you’re planning to sell your home, it’s important that you invest the right amount of money to help get it off the market. All buyers love a bargain and in today’s DIY world some buyers will consider a fixer upper but that is entirely dependent on what they actually need to fix. There’s a big difference between putting up a few extra shelves and repairing some faulty plumbing. You might get lucky and find a buyer that doesn’t mind getting stuck into all of it, but the longer your list of repairs is, the shorter your list of potential buyers will be.