The Ultimate FAQ Guide for Buying and Selling Your Home

Over the years, Fiona Roe, Branch Manager youngsRPS Northallerton, and her team have helped countless clients navigate the ups and downs of the property market. From choosing the perfect home to making sure your property stands out to potential buyers, there’s a lot to think about. But don't worry—Fiona has gathered some of the most common questions we are asked, along with my best tips and advice to help you feel confident and informed every step of the way.

So, grab a cup of tea, get comfy, and let’s dive into the world of buying and selling homes. Here’s everything you need to know to make your property dreams a reality!

For Buyers

1. How Do I Know How Much I Can Afford?

Before you start browsing dream homes, it's essential to understand your budget. A good rule of thumb is to get pre-approved for a mortgage. This will give you a clear picture of your price range and show sellers that you're a serious buyer. Keep in mind that your budget should include not just the price of the home but also additional costs like property taxes, insurance, and maintenance.

2. What Should I Look for During a Viewing?

While aesthetics are important, focus on the bones of the house. Look for signs of dampness, cracks in walls, or aging roofs. Check out the neighbourhood—visit at different times of the day to get a sense of the area. And don’t forget to ask about the home's energy efficiency; it can save you money in the long run.

3. What’s the Difference Between Freehold and Leasehold?

When buying a property, it’s crucial to understand the type of ownership. Freehold means you own the property and the land it’s on. Leasehold, on the other hand, means you own the property but not the land, and you may need to pay ground rent. Always check the length of the lease and the terms associated with it.

4. How Long Does the Buying Process Take?

On average, buying a house can take anywhere from 8 to 12 weeks from the moment your offer is accepted. However, this timeline can vary depending on factors like the length of the property chain and legal complexities. Stay in touch with your agent and solicitor to keep things moving smoothly.

For Sellers

1. How Do I Set the Right Asking Price?

Setting the right price is crucial—too high and your property might sit on the market, too low and you could lose out on potential earnings. Work with a local agent who understands the market dynamics in your area. They’ll provide a valuation based on comparable properties, market trends, and the unique features of your home.

2. What’s the Best Time to Sell My House?

While spring and summer are traditionally popular times to sell due to better weather and longer days, the "best" time really depends on your personal circumstances. If your property is well-presented and priced correctly, it can sell at any time of year. Just be mindful that the market tends to slow down over the winter holidays.

3. Do I Need to Stage My Home?

Staging your home can significantly impact how quickly it sells—and for how much. It doesn’t have to be a complete overhaul; simple changes like decluttering, a fresh coat of paint, and adding some stylish touches can make your home more appealing to buyers. Remember, you’re selling a lifestyle as much as a property.

4. What Costs Are Involved in Selling a House?

As a seller, you’ll need to budget for estate agent fees, legal fees, and potentially the cost of an Energy Performance Certificate (EPC). Don’t forget about removal costs and any expenses related to getting your property ready for the market, like repairs or minor renovations.

5. How Do I Handle Offers?

When offers start rolling in, it's important not to rush. Consider each offer carefully, not just in terms of price but also the buyer’s position—are they part of a chain? Have they been pre-approved for a mortgage? Your agent will help you negotiate the best possible terms.

Closing Thoughts

Whether you’re buying or selling, the key to a successful transaction is preparation and knowledge. Don’t be afraid to ask questions—your real estate agent, solicitor, and mortgage advisor are there to help. And remember, it’s not just about finding a house or selling a property; it’s about making the right move for your lifestyle.

Happy house hunting or selling!