Buying UK property, end of the boom and start of the slump, why now is the time to improve your home and not sell up

If you are thinking of selling your property with a view to buying another larger property, there are a number of factors you need to take into consideration. Whilst the property boom may have come to an end as far as gaining the highest price for your home, the slump in the market is going to help you buy a property at the best possible price.

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You should get a mortgage broker to shop around to find you the cheapest mortgage so that you are absolutely clear about what your monthly repayments are likely to be. Whilst lenders may have pulled out of the sub prime lending market, they are still keen to lend money secured on property that has plenty of equity to people with a good financial track record.

• First time buyers
• Investing (buy to let)
• Investing to sell on

SELLING AND BUYING ANOTHER PROPERTY

A few hundred pounds spent on redecorating and generally sprucing your property up will add a few thousand pounds or so to the value of your property. Your house should be clean, uncluttered, bright and well presented to any would be purchaser. You should also tidy the garden as well and plant a few colourful shrubs and flowers.

Estate agents are going to be struggling to make sales during this tough trading period and should you choose to engage an estate agent, don't be bullied into accepting an offer lower than you really want. At the end of the day, they need to make a living, you don't need to sell your house for less than its true value.

Better still, sell your property privately and build a website so that people can find your property through the search engines and so it is not lost amongst thousands of other properties being advertised on the same site. This will save you thousands of pounds in estate agents commissions and leave you room to manoeuvre on your asking price. You can optimise your website so that people who are looking for your type of property and searching the internet can find you. More and more people are using the internet in this way and you are likely to pick up serious buyers.

• Cheap interest remortgages
  
  
• Low cost home improvement loans
  
  
• Competitive mortgage quotes
  
  
• Cheapest credit cards
  
  
• Builders, Plumbers, Electricians
  
  
• Home improvement quotes
  
  
• Home information packs
  
  
• Reduce gas, electricity and telephone bills
  
  
• Money saving ideas
  
  
• Low cost removals
  
  
• Architects
  
  
• Surveyors
  
  
• Conveyancing services
  
  
• Sell you property privately by building your own website and save thousands of pounds on estate agents commissions

If you are moving to a larger more expensive property, don't be scared to make an offer far below the asking price. And remember, 10% off the price of your property is less than 10% off the cost of a more expensive property. Even in a sluggish market, you can still come out smelling of roses and get the best of the deal if you use your head.

Read on if you are considering investing in property to buy to let during this property slump.

Finally consider all your options. You do not have to move if you are planning on staying in the area and just need a larger house because your family is expanding. You can save a lot of money by enlarging the living accommodation within your existing property if it is suitable.

An extra bedroom in the roof or an extension can add 11-15% to the value of your property saving you a fortune on moving. By improving your home, you can save on:

• No conveyancing fees
• No removal costs
• No home information pack
• No stamp duty
• No estate agents fees
• Valuation and survey costs
• Furnishing and redecoration costs
• Far higher mortgage repayments

Read on if you are considering investing in property to buy to let during this property slump.