Why is moving house easier in 2024?
Thinking of moving house in 2024? Read our expert guide on how the property market is shaping up to make it a good time to make the change...
You can move house quickly in 2024
Homes placed on the UK property market took an average of 34 days to sell in 2023*, this is a little longer than the ferocious pace of previous years. But currently, sales completions are taking less time due to conveyancers and removal companies not being backlogged. A nicely paced market without stupendous levels of competition from other buyers means that you can move to the home you want in good time. This year looks set to improve on all fronts, so you could find the right property and move quickly.
Renewed and optimistic interest in the UK property market
January and the build-up to spring bring an influx of homes to the property market. Many people who hesitated in 2023 because of a bleak outlook ringing in their ears, which never materialized, are now getting on with their moves. The outlook for 2024 appears increasingly promising as banks offer better interest rates. This pent-up demand helps in the negotiation of a fair price for the home you want to buy or sell. More and more homes enter the market, giving you greater choice. From cottages to castles, combining modernity with timeless character, greener homes, homes in need of modernization, and rental-ready buy-to-let investments.
Moving House Checklist
Preparing for a smooth transition to your new home involves careful planning and attention to detail. Use this checklist to ensure you cover all essential tasks when moving.
- Notify relevant parties of your change of address, including banks, utility companies, DVLA, HMRC, and any subscriptions or services.
- Organize the transfer or cancellation of utilities such as gas, electricity, water, internet, and telephone services for both your old and new properties.
- Arrange for mail redirection with the Royal Mail to ensure you receive any post sent to your old address.
- Notify your council of your move to update your council tax details and arrange for any refunds or adjustments.
- Confirm arrangements for the removal company or hire a van if you plan to move your belongings yourself.
- Begin packing well in advance, starting with non-essential items and labeling boxes clearly with their contents and the room they belong to.
- Arrange for the disposal of any items you don't want to take with you, either by donating, selling, or recycling them.
- Notify schools, doctors, dentists, and other relevant service providers of your change of address and register with new ones if necessary.
- Ensure you have all necessary documents easily accessible, including contracts, deeds, insurance policies, and identification.
- Arrange for a final meter reading at your old property and take note of readings at your new property upon arrival.
- Collect any keys, fobs, or access cards for your new property and ensure you have spares cut if necessary.
- Take meter readings and check the condition of the property upon arrival to document any discrepancies or issues.
- Familiarize yourself with the new area, including local amenities, transport links, and emergency services.
- Update your address details with relevant organizations, such as banks, insurance providers, and professional associations.
- Take time to settle into your new home and address any immediate concerns or repairs that may arise.
It's a mover’s property market
Your home’s value is unique. With so many towns and cities still developing and positive influences on the market occurring, it can get confusing when it’s time to value your home. This makes your agent’s skills invaluable. Prices have both increased and decreased marginally; however, while they have been fluctuating, they have stopped rising at a rapid rate. This leaves you in a good position; you will get a good price for your current home due to rapid rises in recent years and recent renewed demand, but you will also pay a reasonable price as opposed to an overinflated price for your new home.
The advantages of higher interest rates for home buyers
You can’t be blamed for hating higher interest rates! The banks seem to win every time. However, if you are waiting for interest rates to fall so you can save money on your property purchase, then don’t. As interest rates fall, property prices will most likely rise, so your mortgage will essentially cost you the same amount. Mortgage providers are competing and offering an increasing number of products at more affordable rates. Products such as offset mortgages and porting (moving home with your existing mortgage) to longer repayment terms mean the banks aren’t all bad! And with higher interest rates, property prices don’t spiral out of control, and you get a better property for a cheaper purchase price in a more stable market.
Your local Estate Agent makes moving easy
At a competitive price, your local Estate Agent is worth every penny in today's market. The fragmented and resilient UK property market is more complex than ever, so local estate agents like DABORACONWAY are vital for valuing your home correctly. This, combined with guidance in negotiation, means you will most likely save money and time. Agents want to keep the momentum in your home move as much as you do. But it’s their connections and market knowledge that can transform your move. Guidance and advice bring about emotional support and potentially a cheaper mortgage.
Take the first step toward moving house and view our property for sale today!
* Zoopla
Posted on: 7 February 2024
