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Author: Sophie Winter

Why reducing the price of your property could help you sell

Posted on by Sophie Winter

In previous years, decreasing your property’s price was viewed as unfavourable. It projected an image of desperation, potentially allowing buyers to exploit this and present unreasonably low bids. However, with the evolving property market, does this perspective still hold true?

Price reductions and the property market

Well, no not really. Since the last recession in 2008, attitudes toward reducing property prices have significantly eased. Given the dynamic nature of the property market, achieving absolute precision right from the start can be nearly impossible. Determining the appropriate market value for a property is essentially an approximation; there are no fixed guidelines or no crystal ball, just a rough estimate based on the seller’s and agent’s assessment of the property’s selling potential. Occasionally, adjustments are necessary, and in this age of technological advancement, a price reduction can, in fact, yield favorable results in your sales strategy.

It’s no longer stigmatised and won’t generate unfavourable perceptions about the property. Buyers may notice that the price has dropped; but they may view it positively, recognising your commitment to selling rather than interpreting it as a sign of desperation.

Why do some see it as a negative?

This could be down to our shift in our consumer mindset as it operates similarly when it comes to Property. Just as we’re accustomed to High Street stores frequently offering sales or shopping at designer outlets with clearly marked recommended retail prices (RRP) and discounted rates; we don’t devalue the clothing or decide against a purchase simply because no one else bought it from the original store; we merely accept it as an item we like and wish to acquire at a reduced price.

This same adjustment in our buying psychology might apply to the property market. When we encounter a property that has adjusted its pricing, we don’t automatically assume it’s inferior or that the sellers are desperate. Instead, we perceive it as a discount, a valuable opportunity. This perspective can motivate a hesitant buyer to make an offer they might not have otherwise considered. It may act as the gentle push they needed to take action.

What can a price reduction do?

Reducing the price, when required, can prove to be a beneficial strategy and may be the key to sealing the deal.

  • Revitalising the property’s marketing and promotion, including mailing campaigns and re-matching with potential buyers. This is similar to giving a post on social media a boost.
  • This approach introduces the property to a different pricing tier. Attracting a fresh set of buyers who may not have been aware of its availability, as it was previously outside their budget range.
  • For those who previously viewed the property at its higher price, the reduction might now align more closely with their perception of its value, potentially rekindling their interest.

Want to discuss your property?

A reduction in price can often unlock the path to a successful sale. Especially when your property has been listed for several months without any positive outcomes, despite all other efforts.

If you’re facing challenges in attracting viewings and are eager to sell your home, reach out to our property specialists. They can assess your marketing strategy and provide guidance to help you start receiving those coveted offers.

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How you can boost your property value by £48k

Posted on by Sophie Winter

Do you find yourself using your garage as a storage space for clutter, or does it stay empty because the idea of constantly moving your car in and out seems too bothersome?

A study conducted by Admiral Money has unveiled that up to 51% of individuals in the UK seldom or never utilise their garage for parking their cars. Instead, they tend to fill it with tools or furniture that remains unused. In fact, the total of unused garages is so substantial that Admiral’s calculations suggest that almost 600,000 homes could potentially be in the space wasted by them!

However, by dedicating some effort and resources, this overlooked space in your home has the potential to significantly enhance the value of your property. Admiral’s research also demonstrates that a simple garage conversion could incur a minimal expense, starting at £6,000 for a single garage, while a comprehensive conversion might range from £10,000 to £20,000. But the value it could add your home is much more – estimated at around £48,000!

Why are homeowners converting their garages?

Conducted using data from the ONS, this study comes during a period when individuals aspiring to live in larger homes might encounter obstacles due to escalating mortgage rates and higher housing costs. However, as stated by Admiral, opting for a garage conversion provides an alternative avenue. This allows homeowners to tailor their residences to align with their lifestyles in the aftermath of the pandemic.

The study uncovered that a majority of homeowners who undertook garage conversions did so with the aim of expanding their living area (67%). The most favored choices were utility rooms and home offices. However, 24% chose to repurpose their space for recreational purposes, opting for features such as bars, home cinemas, and gym facilities.

Converting your garage

In addition to the potential for enhancing property value, another significant advantage of transforming your garage into a room is the low likelihood of requiring planning permission and it often avoids the need for extensive structural modifications. This can make it a highly cost-effective method to expand your living space and overall square footage.

While the initial conversion expense might seem discouraging, homeowners have the option to increase the mortgage on their property for garage renovation. Recent statistics suggest that this approach could potentially increase the average property value across the UK by over £48,000 and even up to £150,000 in certain London postal areas.

Factors to consider during a garage conversion

Prior to moving forward, it’s crucial to thoroughly consider whether you, or a potential future property buyer, might require the use of your garage. This assessment is particularly relevant if you reside in an area where parking is challenging or if your driveway has space for only one car.

If you’re seeking ingenious ways to utilize the space, enlisting the help of an architect can be beneficial. The fees for professional architects and engineers can commence at £1,500 and extend up to £3,000.

According to Martin Hitchcock, an architect, the essence of a successful garage conversion lies in assessing your current home usage and contemplating potential improvements.

We’d suggested thinking about these questions prior to starting any plans:

  • Could extending an existing room into the garage prove advantageous?
  • Is it feasible to convert a portion of the garage while retaining the rest for storage purposes?
  • Do you possess alternative parking options if you proceed with the garage conversion?
  • How would your car’s placement outside a window in the converted garage impact the natural light in your new space?

Have you recently converted your garage and want to know what your property is worth?

Why not contact our expert team today to discuss your property and its new value. We can provide you with a fully detailed sales report and local comparison to show you during the valuation.

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How much is my garden land worth?

Posted on by Sophie Winter

While there are various methods available for determining the value of your home, if you have received an offer to sell a portion of your garden or are considering purchasing land from your neighbour, you may be curious about how to accurately assess its worth. In this article, we will explore the factors that come into play when dealing with the acquisition of garden land. Plus we will explain two approaches to calculating its price. Additionally, we will examine the potential implications for homeowners, including their mortgages, particularly if the plot is adjacent to their property.

Land values by area

Gov.uk, provide average land values based on local authority areas, but it is essential to note that this data is intended solely for survey purposes and should not be relied upon for commercial transactions’ valuations. The figures are primarily used for assessing public policy related to agricultural and industrial land usage across different local authorities in England. The latest available data, as of writing, is from 2019, published in August 2020.

Moreover, the Gov.uk analysis emphasizes that land value is highly sensitive to specific variations in each plot. Therefore, whether you are selling or buying a plot of land, its true value depends on several critical factors:

  1. Location
  2. Land condition
  3. Size of the existing garden (if any)
  4. Value of adjacent properties
  5. Potential for car parking on the land
  6. Scarcity of land available for sale in the area
  7. Other local competition factors.

How are mortgages affected by buying or selling garden land?

For owner-occupiers who have a mortgage and wish to sell a portion of their property’s surrounding garden land, obtaining consent from their mortgage lender is the first step, and they might need to consider remortgaging. Releasing and discharging the plot of land may require a partial repayment of the initial amount borrowed (capital sum) to the bank, building society, or mortgage lender. Similarly, if you plan to expand the size of your property’s land by purchasing adjacent land, it’s crucial to inform your mortgage provider. Especially if you intend to include the purchase price in your existing mortgage.

Ways to value garden land

When it comes to valuing garden land, there are generally two main approaches. The first method is the comparable method. This involves examining sales of similar plots and adjusting the figure based on factors like scarcity, plot size, and location.

The second approach is the marriage value method. This is where the value of the land is calculated by assessing how much it would enhance the value of any property it merges with. Typically, a fraction of this sum, usually half, is considered as the land’s value. Additionally, it may be prudent to take into account any corresponding reduction in the value of the seller’s property.

Although these valuation concepts seem straightforward, in practice, they can be more complex. One of the challenges lies in finding enough reliable evidence of land sales. While data on house sales is well-reported, land sale agreements are often more private. They tend to involve negotiations between two individuals and without public advertising. As a result, the agreed-upon sums between buyers and sellers may be more influenced by individual affordability rather than broader market factors.

Additional factors

In addition to considering the previously mentioned points when valuing a plot of garden land, it is essential to assess its appeal to potential buyers. For instance, plots surrounded by neighbouring properties might not be as valuable as similarly sized land that benefits from a separate, unobstructed access route.

Furthermore, the circumstances and timelines of the sale could also influence the agreed-upon amount. Executors selling an asset may have different priorities compared to neighbouring landowners who were not actively looking to sell until approached. Thus, their willingness to negotiate could vary.

The potential for planning issues and changes in the intended land use, can also impact the selling price. Notably, garden land typically commands a higher value compared to some farmland, which might be subject to VAT.

As any surveyor or architect would confirm, land with existing planning permission generally fetches higher prices compared to terrain without such pre-approval.

Restrictive covenants on land

To facilitate the transfer of ownership, engaging a solicitor or conveyancer is necessary. During the preparation of the appropriate contract for buying or selling garden land, it is crucial to take into account any restrictive covenants that may apply. These covenants often aim to prevent noise nuisance from the plot or any inconvenience caused by potential future construction work.

In some instances, additional clauses might come into play. For example, overage provisions could entitle the land seller to receive a payment if the buyer secures planning permission for the land after the transfer, within a predetermined period.

Furthermore, depending on the location, the seller might wish to retain mineral and subsoil rights or include clauses concerning sporting rights and even airspace. These factors should be addressed and outlined in the contract to ensure a clear and comprehensive agreement.

In summary, there are numerous factors that influence garden land prices, making the valuation process complex and diverse. To ensure arriving at a fair and accurate price, seeking guidance from an experienced professional is often beneficial. Why not contact our expert team today to discuss this opportunity and how we can help you.

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Opportunity for Landlords with rising rental yields

Posted on by Sophie Winter

According to research, UK rental yields have experienced a slight increase in the past year, despite the housing market’s volatile nature. The research analysed house prices, rent values, and yields in June 2022 and June 2023 to understand the impact of the economic environment on buy-to-let investment returns.

What are the average rental yields in the UK?

Despite the challenging period in the UK with rising mortgage rates, there is an opportunity for proactive investors due to lower house prices and increasing rent values. The latest data shows that the average yield in the UK currently stands at 5.2%, marking a 0.4% increase compared to the previous year.

Among the regions, Scotland offers the strongest yields at 5.9%, making it an attractive place for investment. Other regional hotspots include Northern Ireland (5.7%), the North West (5.5%), Yorkshire & Humber (4.9%), and London (4.7%). Scotland also leads in terms of annual yield increases, showing a rise of 0.64%. Several other regions are performing well in terms of yield growth, with London at 0.49%, Wales at 0.35%, the West Midlands at 0.34%, the North West at 0.34%, and Yorkshire & Humber at 0.34%.

The battle for a place to rent

Data commissioned by the BBC reveals that competition among renters has intensified significantly, with 20 requests to view each available property. The average number of requests to see a home has more than tripled from six in 2019, according to figures from property portal Rightmove.

Additional research shows that tenants are reportedly making offers higher than the asking rent or even arriving earlier to secure a spot at the front of the queue. From our experience we are seeing that properties are getting rented out after the initial block of viewings due to the exceptionally high demand.

Lettings Manager, Sue Barnes suggests that the market presents opportunities for investors willing to take calculated risks, and the current UK environment exemplifies this. Despite economic struggles and concerns over rising mortgage rates, buy-to-let landlords with the means to handle current mortgage deals should consider seizing opportunities when suitable properties come to market in favourable locations. She emphasises that investors should take advantage of these moments when others may be hesitant.

Looking to invest?

We have a broad selection of ideal buy-to-let investment properties available, contact our expert team today to discuss this opportunity and how we can help you.

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Are new build homes more energy efficient?

Posted on by Sophie Winter

At CR Real Estate, we possess a deep passion for promoting new build properties, and it’s our desire for our clients to share this enthusiasm when they embark on purchasing a new home. In this blog we aim to delve into the numerous energy saving advantages associated with purchasing a newly constructed property.

New build energy savings

When considering the environmental efficiency of new homes versus second-hand ones, the primary distinguishing factor is the Energy Performance Certificate (EPC). In 2022, a noteworthy 85% of newly constructed homes received an exceptional EPC rating of A or B. This represents the highest level of efficiency. In contrast, out of the entire housing stock in the UK, only 41% of homes manage to achieve an EPC rating higher than C. This stark difference highlights the significant disparity in efficiency standards between new builds and the majority of second-hand homes.

Keeping you warmer

Enhanced insulation is a fundamental factor contributing to the improved Energy Performance Certificate (EPC) ratings of new homes compared to those built several decades ago. New homes are built with higher insulation standards, which effectively retain heat and reduce the frequency and duration of central heating usage. This results in lower carbon dioxide emissions and significant energy savings. In fact, recent research suggests that buyers of new homes can potentially save an average of over £3,000* annually on energy costs.

Energy and technology

In addition to insulation and triple glazing, EPC ratings also consider the energy generation methods employed in a home. New homes are increasingly achieving favourable EPC ratings by incorporating technologies such as solar panels and air source heat pumps into entire developments. Even more modest technologies, such as the inclusion of smart thermostats, contribute to energy conservation by facilitating easier control of energy usage. Government policy is further promoting the construction of energy-efficient homes through the 2025 Future Homes Standard, which mandates insulation standards and the installation of more efficient boilers in new homes.

Don’t overlook the letters

It may be tempting to overlook the seemingly arbitrary letters associated with homes, but the practical implications of energy ratings have become increasingly apparent in the past year. Energy Performance Certificate (EPC) ratings are determined by calculating the annual carbon dioxide emissions resulting from a home’s energy usage. To illustrate, consider two standard 3-bedroom homes of identical size: one with a D rating would emit approximately 4 tonnes of CO2 per year, while the home with a B rating emits less than half of that, just under 2 tonnes of CO2. Discovering the EPC rating and corresponding CO2 emissions of your home is a simple process. Visit the government website, enter your address, and you may realize the potential savings a new build home could offer.

Final thoughts

In the past year, energy bills have emerged as a significant concern for many individuals, making cost savings a highly desirable outcome. This leads us to the question: Why consider purchasing a new build home? The answer lies in the potential for substantial savings and the opportunity to make a positive impact on the environment. Opting for a new build home allows you to save money while actively contributing to planet conservation—a truly advantageous and mutually beneficial choice. Looking for a new build home? Contact our expert land and new homes team today to discuss your property requirements and how we can help you.

*Statistics correct at time of writing, CR Real Estate can not guarantee energy savings.

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What’s happening with minimum energy efficiency standards and EPC ratings?

Posted on by Sophie Winter

In 2020, the government revealed its intentions to raise the Minimum Energy Efficiency Standards (MEES) for the Private Rented Sector. The plans specified that private rented properties would be required to achieve an Energy Performance Certificate (EPC) rating of C or higher by 2025 for new tenancies, and by 2028 for existing tenancies.

Are landlords ready for changing Minimum Energy Efficiency Standards?

Recent data indicates a gradual enhancement in the energy efficiency of properties available for rent. As the number of properties with an EPC rating of C or higher has increased by 16% since January 2019.

Meanwhile, the number of rental properties with EPC ratings D to G dipped by 11%. These figures suggest that landlords are taking steps to either improve the energy efficiency of their properties; or becoming more selective with their investment choices.

A notable 61% of landlords say that they would not consider investing in a property with a rating below C. This shift in mindset demonstrates a change in priorities and an acknowledgement of tenants’ preference for higher-rated properties.

Will the new minimum standards be included in the Decent Homes Standard?

The A Decent Homes Standard in the private rented sector consultation outlined the suggested measures to implement the Decent Homes Standard in the private rented sector.

This standard is anticipated to be implemented in conjunction with the Renters (Reform) Bill. According to the consultation proposals, one of the criteria, criterion D, requires homes to offer “a reasonable degree of thermal comfort.”

In the House of Commons Committee report on Reforming the Private Rented Sector, a recommendation was made to incorporate the Minimum Energy Efficiency Standards (MEES) into criterion D of the Decent Homes Standard. This suggestion is regarded as a simple and modest simplification of the complex regulatory framework.

Currently, the Minimum Energy Efficiency Standard is not applicable to the social housing sector. Thus there is no necessity for it to be aligned within the Decent Homes Standard.

When will the increased standards be formalised?

The industry is still anticipating the outcome of the 2020 Energy Performance consultation. This will provide additional information regarding the requirements. Energy minister Andrew Bowie recently mentioned that the initial update for this year will merely consist of a summary of the responses received.

Earlier, the Telegraph reported that landlords would be granted until 2028 to comply with the updated energy efficiency requirements. However, there has been no official announcement to confirm this specific date.

What should landlords and agents be doing to prepare?

The present government guidelines for complying with the current MeeS regulations provide a list of recommended upgrades for landlords, along with their average costs. These upgrades encompass options such as internal or external wall insulation, draught proofing, solar panels, among others.

It is anticipated that the government will officially establish a cap of £10,000 on upgrade expenses. Allowing landlords to seek exemptions if the costs exceed this limit. Various sources of funding are available for these types of upgrades.

How can we help?

Contact our expert lettings team today to discuss your property and how we can help you with these changes.

This article is intended as a guide only and does not constitute legal advice. For more information, visit gov.uk.

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How to value my land

Posted on by Sophie Winter

If you already own a plot of land and would like to sell it on; you might be wondering how you value land. This guide will provide you with some useful tips when it comes to how land is typically valued. Although you may find it more beneficial to get in touch with us for a free appraisal of your land for development.

Land is valued depending on the market

Similarly to how properties are valued at different rates depending on where they are in the country; land is valued according to market value (as opposed to the actual land value).

Put simply, this means that a plot of land in Central London, will cost a lot more than a plot of land in the southwest countryside. This is an important thing to consider when you are valuing your land.

Land value calculations

There are multiple variables that go into assessing the value of land, but there’s a simple equation that most use.

Value of land = Price of new homes – cost of building the new homes

While the above is very formulaic, the actual value of the land can be extremely subjective depending on the land itself. Here are some important pointers and things to consider about valuing land:

Other factors that can affect the value of land

There are quite a few additional factors that can affect the value of your land. These include:

Connection to services

A plot of land that has a good connection to water, gas and electricity, will be much more favourable than a plot of land without these services. Valuers will consider both the cost of bringing these services to any dwellings built on the land. Along with the price people will be prepared to pay for the ease of having the services pre-connected.

Developments in the area

A land valuer will consider all of the prospective developments in the area. This will be to assess what may change before a dwelling is built and completed. For example, a new school opening nearby would increase the value of the property. But a block of flats built on neighbouring land would reduce the value of the property. An experienced valuer will have a clear idea of the council’s and neighbours’ plans for the future.

The site itself

It may seem obvious but a valuer will assess all parts of the land, including its topography. If it is located on a hill, then the value may reduce. This may be because properties built on the site will need extra work, and will most likely cost more.

Location to nearby services

Similarly to when buying property, factors such as local schools, links to public transport, and accessibility to amenities; are all considered when purchasing a plot of land. The value of land with these amenities close by can be significantly higher than exactly the same plot of land without them.

Size

The size of the land is one of the main factors that go into its valuation. Most think that the bigger the land, the higher the price. However, as listed above, there are many other factors to consider when valuing land. So much so that a smaller plot of land may be more valuable than a larger one elsewhere.

Legalities

There may be legal documents that mean a certain plot of land cannot be developed on in a specific way. Whilst these can often be overturned, it can be a lengthy and costly process.

Want a free valuation on your land?

As you can see, all of these factors consider both the value of the land itself; and how much it would cost to build upon the land. Although we’re firm believers that knowledge is invaluable; a full land valuation should be done by an expert. But having some insider knowledge about how to value land will help you feel reassured that you are getting a good price.

Get in touch with us today for a free assessment of your land for development.

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How to develop land that you already own

Posted on by Sophie Winter

If you already own a plot of land, or your garden is large enough to accommodate another property, you could consider developing the land you own. However to do so, you’ll need to know about planning permission and the type of mortgage required to fund your development.

Here at CR Real Estate, we are firm believers that knowledge is invaluable; so we’ve put together this handy guide to give you all the information you need…

How do I start developing my own land?

The most complex part about developing land is usually the sourcing of it and the funding required to buy it. So, if you already own a piece of land that is suitable, it can be a lot easier to get started. Whilst you might be ahead of others, it can still be a complex journey as you’ll still need to consider things like planning permission and funding for your development.

How do I fund developing my land?

There is positive news when it comes to developing on the land you already own. As you already own the land, you’ll only require funds for the build/development. This most often comes in the form of a self-build mortgage; which is essentially development funding for the construction of a new property and comes with an allocated time restraint to complete by from your chosen lender.

Here are some of the most common questions around self-build mortgages…

How do I get a self-build mortgage when I already own land?

If you’re looking to develop the land that you already own, a self-build mortgage can provide you with the funds you need to complete the development work. Often, because you’re only funding the build and don’t need to borrow to buy land as well, there are more options available on these self-build mortgages.

We would recommend to speak to a mortgage broker in the first instance. They will be able to advise you on this and provide a selection of lenders to consider approaching. CR Real Estate work in partnership with The Residential Mortgage Hub to provide mortgage advice for our clients.

How much deposit do I need for a self-build mortgage?

Typically, lenders will either lend against a valuation of the land you own; or on your total build costs for the development.

The criteria for each lender will vary depending on the specifics of your project. But generally speaking you can expect to get 75% to 80% of your land’s valuation figure as a self-build mortgage; or up to 80% based on your build costs. This means that you’ll be expected to fund 20% to 30% of the project yourself. But it’s also good practice to build in an extra 10% to 20% contingency budget for unforeseen circumstances.

How much can I borrow with a self-build mortgage?

The amount of money you can borrow through a self-build mortgage will depend on:

  • Your personal circumstances and financial situation
  • The amount of money you’re putting into the project yourself
  • The value of the land you’re building on
  • The total projected build cost

As mentioned, some lenders will lend against the value of your land; while others will lend based on the total build cost itself. Your chosen lender will carry out an affordability assessment to consider your borrowing limits. So, we strongly advise seeking mortgage advice before applying for a self-build mortgage.

Do I need planning permission to get a self-build mortgage?

Most lenders will insist that you have full, detailed planning permission for your project prior to them lending to you.

However, it’s can be possible to get a mortgage advance with only outline planning permission. But should you fail to obtain permission later, you will have to pay back your advance and factor in any additional or associated costs.

Are there any other options for self-build finance?

Whilst self-build mortgages can be a great way to fund the development of land, there are other options to consider including:

  • Bridging finance
  • Construction mortgages
  • Personal loans
  • Remortgaging an existing property
  • Equity release
  • Other business loans

Always speak to a financial/mortgage advisor to discuss your options for taking on any finance for your self-build.

Is developing land profitable?

Developing land can be very profitable. The important thing is to stay on top of your costs and know your objectives before you start.

Land with planning permission is generally worth more than land without. So, if you’re thinking of selling the land that you own; you could consider a planning application to boost its value even further.

If you’re thinking about building on land you own, you’ll need to consider the following:

  • Will you eventually live in what you build or sell it?
  • If you’re selling your development – what type of property will work for buyers in the area?
  • If you’re building on your garden plot – how will the final build affect your current property’s value?

Do I need planning permission to develop on my own land?

To build a new dwelling on the land you own; you will almost certainly require planning permission from your local authority. However smaller additions to an existing property can usually be made under Permitted Development. But large extensions or outbuildings will usually require planning permission.

Whilst 75% of all planning permissions are approved in England and Wales; you should always check what’s permitted and what isn’t. Our expert team at CR Real Estate can advise you or you can speak to your local planning department.

How long does it take to get planning permission?

Generally decisions surrounding planning applications are made within 8 weeks. But it can go up to 13 weeks for unusually complex or large applications. You can appeal if the decision takes longer.

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How to get planning permission on land

Posted on by Sophie Winter

If you’re looking to develop on the land you already own, then you’ll probably need to obtain planning permission for your build.

We understand that planning can be complicated, so it’s useful to speak with an experienced expert such as ourselves as we can recommend local planning consultants before making an application.

Here at CR Real Estate, we are firm believers that knowledge is invaluable; so we’ve put together this handy guide to give you the answers to some of the most common questions about new homes and planning permission…

How do I get planning permission?

Applying for planning permission can be a time-consuming and expensive process – even more so if it is for a large piece of land. You’ll first need to submit an application to your local authority.

When considering a development project the first step would be to determine if planning permission is actually necessary. For most projects such as new build, house extensions, or loft extensions; planning will be required. Are there any legal or other restrictions over the property? These may appear in your Title Deeds. Historic buildings may also have further requirements and permissions that will need to be taken into consideration.

If an application for planning permission is needed; the next step is to determine what your local authorities have in their overall plan for the area, and how you can taylor your requirements to fit within this. Having a good understanding of how the application process works is important; and it’s useful to know how other people have approached similar situations. We can introduce you to a good planning consultant, who will be able to help you through this process.

What can I build on agricultural land without planning permission?

If you’re the owner of a piece of agricultural land and you’re looking to develop on it; you’ll need to consider whether what you build requires planning permission.

Development that may not require planning permission includes:

  • Construction of a building that is for the purposes of agriculture
  • Buildings that are not dwellings or attached to dwellings

It’s important to note that there are rules around the size and distance from other buildings, but if you’re looking to build a property on agricultural land, you’ll almost certainly need planning permission to build.

What can you build on land without planning permission?

To build a new dwelling or large extensions on the land you own, you will almost certainly require planning permission. However smaller additions to an existing property can usually be made under Permitted Development. You should always check what’s permitted and what isn’t; our expert team at CR Real Estate can advise you or you can speak to your local planning department.

How long does it take to get planning permission?

For smaller developments such as if you’re developing your garden plot, and applying for permission for a single dwelling; you should find out if your planning application has been approved within 8 weeks. But it can go up to 13 weeks for unusually complex or large applications, and you can appeal if the decision takes longer.

In the unfortunate instance that your application is rejected and you need to make changes before re-submitting; the entire process could take around 18 months to 2 years.

What will planners look at when considering my application?

Whether you’re looking to build another dwelling on your garden plot, or on another piece of land that you own, your local authority’s planning department will consider:

  • The impact of overlooking or loss of privacy for neighbouring properties
  • Loss of light caused by new development
  • The available infrastructure like water supply and roads
  • Parking allocation and issues
  • Road safety
  • Increase in traffic and noise
  • Impact on any listed buildings and conservation areas
  • The layout and density of the proposed building
  • The design and building methods/materials being used
  • Any previous planning applications on the site
  • Nature conservation impact
  • Any landscaping needed

It’s worth noting that if there are any objections from neighbours; your application will be called before the local planning committee for consideration, and a decision will be made by a vote. If your application has no objections, it can be approved faster through what are known as designated powers.

What are the types of planning permission?

Whilst different types exist, the most common ones include:

Outline Planning Permission

The outline planning permission is a simple application you make to your local authority. This is to inform them of your intent to build a dwelling on your land. This will enable you to know whether you can even build on your land, and if so what size dwelling you can build.

It’s important to remember that outline planning permission isn’t a legal requirement, when you’re looking for planning permission. It only includes a brief outline of what you plan to do; and in-depth details of your intentions are not required.

Full Planning Permission

You must check with your local authority to determine whether you’ll need full planning permission. Generally, you’ll need this type of permission if you want to:

  • Build something new on your land
  • Make major structural alterations
  • Demolish existing buildings
  • Build extensions to your property
  • Change the main use of your building

Typically development projects that have no impact on the environment or your neighbours don’t require planning permission. Addition, some developments and small additions/improvements are normally allowed under your permitted development rights.

Are there conditions?

You may be granted planning permission, but with certain criteria you have to meet within a specified time frame. These can be simple conditions such as; only using particular materials that match existing ones; or ensuring all boundary treatments are adhered to.

These conditions are important, and failing to comply can result in a breach of condition notice. These have no rights of appeal and can be enforced prosecution by the courts.

Did you know…

75% of all planning permissions are approved in England and Wales. So, you have a high chance of building a dwelling on your land when you apply. The most important thing is to ensure your plan fits with the local authority guidelines.

How we can help

CR Real Estate are experts in all aspects of property development and construction, with a large portfolio of top-quality residential projects completed. We offer a free assessment of land value regardless of its current condition, with help for planning status and use, and we work with local consultants to help prepare and submit an outline and full planning applications on your behalf. We pride ourselves on our exemplary and professional service.

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Can you switch estate agents if you’re not happy?

Posted on by Sophie Winter

How often do you switch bank accounts? Or doctors? Or even hairdressers? We expect it’s not that often, most of us have the same bank account we opened as a child. It doesn’t matter how bad the interest they pay on your savings; or how terrible the customer service is. It feels like so much hassle to switch to a new bank that we simply don’t do it. 

Well, it’s the same for estate agents. 

Perhaps you haven’t quite had the interest that you’d hoped for or even had offers that were lower than you were expecting. Maybe you were promised a certain level of service by your agent, but they haven’t kept their promises? Or perhaps you simply haven’t heard from them since signing your contract?

Either way, it’s possible to change if you are feeling underwhelmed, disappointed or disheartened with the property sale experience. And it is actually easier than you might think. Yes, you’ll have to consider and follow the terms of the contract you have signed; but it is possible to change to a different estate agent, and it’s more common than you might think. 

Don’t worry, you’ve not lost or wasted anything that has happened already. The previous agent will list all the interested parties they’ve introduced your property to while marketing it. If a buyer comes along that has already viewed your property, no problem, they can still purchase as usual.

Statistically, over 60% of homeowners that switch their property marketing to a new estate agent will sell with the second agent, so maybe a change is just what you need? 

As a property sits on the market, it can become a little stale. After 4 weeks, property websites such as Rightmove and Zoopla will stop promoting the property to their audience in favour of the newer instructions. After 6 weeks, your estate agent will usually have exhausted all the potential buyers on their database. And after 8 weeks, your agent will probably begin to suggest a price reduction (this is the only way to rekindle the interest levels in the property so that you move into a new bracket; and, therefore, a new group of potential buyers that perhaps couldn’t afford the property previously). 

But, if you were to change agents, you could tap into a new database of buyers. And with a fresh approach and renewed marketing, your property marketing and listing will have a new lease of life. This could be just what you need to get that elusive sale. 

So, what should you do to switch agents and get your property sold? 

You need to give proper notice. The terms of a contract with an estate agent may prohibit multiple agencies. This can be bad news if you don’t provide the proper notice because, if you do get a buyer for the property, you could be liable to pay fees to both agents – a costly mistake. 

You need to choose your new agent. By contacting one of the agents that impressed you from your initial valuation appointments, trying someone new or a recommendation from a friend or family. 

Revalue and assess the marketing you’ve had so far. Your new agent will prepare their marketing materials, so perhaps you can change how the property is presented. This is the chance to consider staging the home, and showing off the lifestyle that the buyer could have if they bought your property. Staging can create interest and add a vibrant pop of colour to your photographs that could entice a buyer and grab their attention as they read their emails or scroll through the websites. 

Think about the feedback that you’ve had. Of course, some of the feedback may have been somethings that you simply can’t do anything about. Perhaps it was too small or simply not suitable for some viewers. But, if you’ve had constructive feedback, consider dealing with these issues to encourage other buyers.

What if you’ve had no feedback? If you’ve had no viewings or no feedback from those viewings, perhaps look at your property through different eyes. Look objectively at your home and think about how it seems to a stranger. For example, it’s easy to overlook clutter and piles of things in our homes because we see them every day. But these things can stand out to a stranger looking to buy a property. 

Overall, it’s easier than you think to change estate agents, and a fresh outlook could be the key to finding a buyer and getting that all-important sale. 

To find out how we can help you sell your home get in touch with our team today. 

Recent Articles

How a lettings agent can make investment properties more profitable

Posted on by Sophie Winter

Many landlords perceive that the cost of using a lettings agent might impact their profitability; however, it is quite the opposite.

Presenting a well-managed property with comprehensive professional oversight can directly improve your bottom line. There are numerous advantages to using an experienced agent, not least avoiding vacant periods.

How to boost your rental property return

We adopt several strategies as a leading independent Kent lettings agent to proactively increase landlord earnings.

Defined rental property marketing

Property in Kent is in huge demand, particularly with professionals and families.

The outstanding schooling and career opportunities; along with travel links and living standards continue to attract tenants relocating from across London and southeast; as well as prospective tenants from the nearby areas.

CR Real Estate are one of the leading and independently established Kent lettings agents, and we recognise that how we market a high-value rental property is vital.

With a central base in Medway our lettings team applies targeted marketing techniques to attract excellent tenants. This ensures that you receive a premium rental value for your property.

Comprehensive inspections and inventories

We endeavour to maintain a positive rapport with every tenant; and schedule inspections regularly, at your tenant’s convenience. This is to ensure that they enjoy every aspect of renting your residence.

This service means we can respond and act quickly when we need to organise work. Obtaining comparable quotations from respected local tradespeople; and identifying when there are possible issues that need to be addressed.

Attention to detail is an important factor in tenant satisfaction. This means that the vast majority of our managed properties benefit from long-term, sustainable tenancies.

Accurate rental price assessments

Rental properties that have been available for some time are often priced at a static rental figure; increased perhaps marginally over time. Many landlords undervalue their assets and could be earning a far greater value. This depends on each property’s location, quality, sizing, position, and unique features.

Our lettings agents will review your rent; determine whether this should be adjusted; and provide local insights to rationalise any recommended changes in the rental charge.

Securing tenancies faster, and for longer

Private tenants are more likely to rent a property from an agent. As they have the assurance that they will have a nearby point of contact to ask questions; and deal with an accredited, regulated organisation. This preference allows us to develop relationships to support tenants moving to the area from further afield; and pass these benefits onto our landlord clients.

We regularly have waiting lists of pre-vetted tenants looking for local properties. We can accelerate the process by matching tenants with newly available properties in a very short timeframe.

Reducing landlord’s ancillary costs

Over the years, we have cultivated a strong network of contacts, from insurance providers to maintenance companies.

When a property requires repair work or a landlord is looking for a competitive buildings insurance quotation, we can often recommend a provider that will offer a superior price point, thereby saving on property management costs.

Three common reasons that Landlords lose money

There are three primary ways that profits from a rental asset can begin to dwindle.

1. Tenant Liaison

Negotiation is essential; if you have a difficult decision to make, or disagree with a tenant about any element of your property or their tenancy. Disputes, late payments, conflicts and rental arrears are the prevalent cause of landlord losses.

2. Regulatory Mistakes

Over the last two years, there have been many legislative changes. This includes eviction bans, which you must comply with as a landlord. Tenants should be well informed about the regulations surrounding private tenancies; and making an error (even innocently) can be extremely costly.

3. Excessive Maintenance Expenses

All rental properties require general upkeep; but falling behind with gas and electrical safety checks or not inspecting a property until extensive damage has been done can incur large reparatory costs.

A lettings agent is responsible for finding high-quality tenants; but can also assist with managing legal obligations, keeping in regular contact with existing tenants; and acting to preserve the value and integrity of your rental home.

Risks of self-managing a rental property

Independent rental property management is certainly possible; but requires continual communications, assessments, and commitment to upholding property standards to retain the best tenants.

As every landlord will know, there are multiple business considerations to be aware of:

  • Setting up an appropriately compliant deposit retention scheme.
  • Following the correct processes to end a tenancy if required.
  • Conducting thorough inventory checks.
  • Organising end-of-tenancy property inspections.
  • Dealing with maintenance work.
  • Managing tenant queries, requests and potentially complaints.

There are now over 400 rules and regulations related to managing private residential rental properties. All in which include fines for non-compliance or breaches, even when unintentional.

The fundamental risk of self-management is that any one of these requirements is missed or lapses; resulting in financial losses and reputational damage.

Advantages of using an established local Kent lettings agent

Our lettings services depend on the support you require; and are always customisable. We have a management package to suit you; whether you’re looking to improve your rental property profitability or deal with specific challenges. We deal with everything from tenant searches, background checks and deposit management; to full ongoing control over collecting rent, liaising with tenants and ensuring your property runs smoothly.

CR Real Estate focuses on exceptional quality at every turn; commanding favourable rental returns for high-quality Kent properties. As well as providing a fantastic service for tenants looking for a beautiful new home. When correctly managed, we believe that many rental residences have the potential to be more profitable than they are.

For further information about analysing your rental rates, improving returns, and elevating the quality of your Kent rental assets; please get in touch with our Lettings Team for advice from the local specialists.

Recent Articles

Why you shouldn’t neglect your garden when selling your home in Kent this spring

Posted on by Sophie Winter

It is official, we are now in spring; we can now all enjoy those longer days and better weather, and watch whilst flowers bloom and trees blossom. It is the season where Mother Nature loves to show off her splendour, and when it comes to selling your home, you need to be doing the same. Spring is the best time of year to sell your home, and according to Rightmove, this is because of record prices, the imbalance between demand and supply as well as the prospect of finding a buyer the first week your home is on the market. And whilst your focus may be directly internally, we want to make sure you understand why you should not neglect your garden when selling your home this Spring in Kent.

It’s a blooming market

“Those who weren’t ready to take advantage of last year’s rush now have another chance to get on the market while these conditions last”, Tim Bannister, Rightmove’s Director of Property Data comments. Anyone selling their home wants to ensure they a maximising their sale in every way – who wouldn’t want to miss an opportunity to add some value, and your garden is a hidden gem. According to Good Move house experts, “Transforming your garden can be the most fruitful way of adding value to your home, with a well-kept garden raising prices by around 20 per cent.” Although many home owners understand the potential their garden holds can bring to the value of their property, there are many that ignore this area when preparing their home for sale. 

Lockdown goals

Lockdown saw many of us turning our time to our gardens: bars were erected, decking built and outbuildings constructed creating havens for us to enjoy whilst the strange times we were living in passed us by. Potential buyers, too, wish to imagine themselves spending time in a garden that is ready to enjoy, not one that has a wild side and needs a lot of work to restore. Your garden is an extension of your home, and should the sun be shining, buyers love to imagine themselves al fresco dining or enjoying a tipple or two. Don’t put barriers in their way by making them struggle to see what your garden has to offer – make it the dream they have been seeking not the jungle they wish to forget.

It needs to be green

There is something very attractive about a healthy lawn, one glistening in shades of green without a balding patch in sight.  Yet we all know how much maintenance it takes to keep a lawn looking green and healthy.  For many of us, those perfect contrasting green lines of grass are something we aspire to but never quite achieve.  If your lawn looks like it has seen better days, it may be best to invest in some new turf.  It may feel like an unnecessary expense, but having your garden in the best possible condition could add value to your home and, what’s more, help it to sell more quickly.

Just like new

It isn’t just your lawn that needs to look healthy and just like new; the winter months having taken a toll on many a home’s exterior, especially with the storms we have had. Paint and stains have faded on gates and fences, decking may have some slippery grime or peeling stain, weeds have been springing up and some plants may have a survived for another season. Yes, there is work to be done, but the benefits are certainly worth it. Put yourself in the shoes of a potential buyer: how would you feel about seeing a garden in tip-top shape and full or colour, compared to one that has seen better days? Your offer may reflect how you feel, so make sure that your buyers see the value your garden brings to your home.

Bring the lifestyle to life

Adding some finishing touches to your garden for a viewing brings to life the lifestyle your home offers to a potential buyer.  A viewing is the opportunity for your property to transform into a home for sale. You want that show home feel that is organised yet warm, welcoming and intoxicating. 

A table and chairs is just that, but add a tray with a couple glasses and a bottle and suddenly your buyers are seeing themselves sitting there on a warm spring evening. A wall seat may go unnoticed, but a throw, a cushion and a book transforms it into a cosy space to while away an afternoon. No matter the size or style of your garden, there are little touches you can add to bring your space to life. You don’t need to go overboard, just a couple here and there is enough to get a buyer’s mind starting to imagine living there.

It deserves it

Give your garden the spring clean it deserves, and you are putting your home in the best position for selling in this busy spring season. For more advice on how to prepare your Kent home for sale, call a member of our sales team on 01634 570057.

Content contributed by The Federation of Independent Agents.

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