Rosanna Alfonso Developments

Ways to Buy A Residential Property

If you are thinking about becoming a homeowner but do not quite know where to begin, below is an overview of the different options that are available to you. Embarking on a property owning journey can seem daunting at first, but as long as you research properly, you will be able to navigate the process successfully.

If you’re more of a ‘listener’ than a ‘reader’, then this video summarises the information in this blog. If you’re a reader, continue on reading below.

THE TYPICAL PROCESS

The usual way to find and buy a home involves Estate Agents. Homeowners pay estate agents to advertise their home and find a buyer for them. If you are looking for a property to buy, an estate agent would be your first point of call. Although they do still have their agencies on the high street with pictures of properties to purchase in the window, the easiest way to see what is on offer is by using a real estate search engine. Estate agents use websites like Rightmove, Zoopla or On The Market, for example, to advertise the properties that they are selling. You can then go through a wide range of properties on offer from various estate agents and search by location, area or size of property etc.

Once you see a property you like, you can then go and view it to make sure you are happy with it before making an offer on it. Estate agents will want to see an Agreement in Principle and proof of your deposit before they will accept your offer, as they need to know that you are serious. If your offer is accepted by the property’s owner, you can formally apply for your mortgage and instruct a solicitor to deal with your purchase. The solicitor will then lead you all the way through Exchange of Contracts (which is the point of no return as it is legally binding) to Completion (the day you get the keys and can move in).

IF YOUR FEELING RISKY

Auctions are another way that you can find and acquire a property but it definitely is not for someone who doesn’t know what they are doing. The types of properties you may find at auctions are refurbishment or (re)development projects, properties that are hard to sell on (for example if they are unmortgageable and need a ‘cash buyer’), or mixed use properties. This list isn’t exhaustive – you can also pick up ‘normal’ properties at auction and as services continue to move with technology and become more online based, you can find a wider variety of properties that are being sold by modern method of auction as well.

https://images.app.goo.gl/7sXkwpTbF3t5QVbKA

Guide prices for auctions can look very appealing, but they are only indications of where the reserve price will fall (not more than 10% higher than the guide price). A property that seems like a fabulous deal may end up being sold for a much higher price depending on the competition. To get an idea of what a property is likely to go for, it is best to do research on the property itself to see whether it has been auctioned before or whether any properties similar to it have previously been sold at auction.

Before going to an auction, there is other research that you need to do. If you do not read the terms and conditions (which are subject to change up until the day before the auction) then you could get stuck with undesirable conditions, such as being lumbered with paying off someone else’s debt. If you are not confident with buying a property at auction (or even if you are) it is a good idea to instruct a solicitor to go over the legal pack and point out anything that looks dodgy.

Another way in which auctions are risky, is that sometimes you may not have proper access to a property beforehand. This happens especially if it is unsafe to enter and this could mean that you are unable to do a proper valuation on the works that need doing. The consequence of this is that you could end up with a building that is worse than you anticipated, more costly to restore and so less profitable.

One of the good things about property auctions is that the process of buying is so much quicker than the typical process. This is almost like a double-edged sword though, as the deposit for the property (10%) is payable on the day of the auction and then completion is usually done within a month or so. The key thing to be aware of is that exchange of contracts happens as soon as the gavel hits the sound block at the auction. If you are the highest bidder, you are immediately legally obligated to purchase that property, so you really need to make sure that you are in a position to complete within a short amount of time. Your finances HAVE to be in order.

A HELPING HAND

The ‘Help to Buy’ scheme was launched in 2013 in a bid to help first-time (and other) buyers get onto the property ladder. Under this scheme, homebuyers only need to have a 5% deposit as the government is wiling to loan you 20% (40% in London) of the property price. The idea is that mortgages become more obtainable as buyers would only need to qualify for a 75% (55% in London) mortgage from a lender. As with most things, there are a few catches…

The property must be a new build
The property must be up to the value of £600,000
You cannot have any additional properties
The government loan is interest free for 5 years only. After this period, interest is charged.
The government takes its share of the profit if you sell on

This scheme is beneficial to those who like the idea of having a new home, but, there are also downsides. With new builds, you need to pay attention to the service charges that you will pay. A service charge is typical of a leasehold property (usually flats are leasehold), however, new build homes that are freehold also tend to come with a service charge. This service charge is usually to fund the maintenance and upkeep of the roads, parks and other shared areas on the housing development. This is because the council do not want responsibility for them. Sometimes, the service charge prices change after a year or so and can become quite unaffordable (depending on the company who takes over the contract). Some homeowners have struggled to sell on their home, because the hike in the cost of the service charge was so unaffordable to potential buyers. Developers are now looking at alternative ways to cover service charges, for example at the development in Ebbsfleet, Kent, they are looking at building social spaces such as cafes that can generate a profit and then fund some of the maintenance.

The Help to Buy scheme is available from house building companies, such as Barratt Homes, Redrow, Bellway etc, so you will need to approach them directly. You will find lots of different companies will offer incentives to encourage you to buy from them, such as paid stamp duty or help with selling your existing home.

https://www.homebuyhub.com/moving/house-builders/

If you are looking to utilise this scheme, research well into both the terms and conditions of the scheme and the different house builders available in a particular area. Make sure that you feel comfortable and are getting a high quality home at good value for money.

SHARING THE LOAD

‘Shared Ownership’ is another scheme that is available to buyers and as the name suggests, you can choose to own a share of a home e.g. 25 or 50% instead of the whole property. If you own, for example, 25% of a home through shared ownership, then you will be paying rent on 75% of it. This means that monthly outgoings tend to be very high and as a result it is hard to qualify for shared ownership. You need to be able to prove that the monthly costs are affordable according to your income. You can purchase more of the property as you can afford it, which will bring monthly payments down over time.

https://www.thenewhomesagent.co.uk/guides/shared-ownership-schemes/

As shared ownership is a housing association scheme, priority is given to housing association tenants, the local authority and sometimes key workers, which again makes it hard to get yourself on a list with a housing association. As with Help to Buy, shared ownership is only available on new build properties and you cannot have a second home.

Make sure you properly research into this scheme, as shared ownership can sometimes keep you in the same kind of ‘money pit’ cycle that renting does. The total monthly outgoing of mortgage payments, plus rent can be very high. You could potentially find a place to rent for less and then with the money you save, put it towards a deposit for something you own 100% of. Although property appreciates over time, new build properties on average do not see the gains that existing properties do and so in the short term, it may not be profitable. Having said that, there are of course lots of people out there who have benefitted from shared ownership and have managed to own their property outright by being frugal.

CLAIMING YOUR RIGHTS

The Right to Buy scheme is solely for council tenants and enables them to buy their council home at a calculated, discounted price. These discounts are quite significant, as the maximum discount you can get is £84,200 (or up to £112,300 in London boroughs). The discount you get depends on the type of property you are living in and the number of years you have lived there for.

As with any of the other schemes, there are conditions that need to be met, such as, you need to have been living in the property for at least three years. If you purchase a home under this scheme, then you will need to be mindful of the fact that if you sell the house on within 5 years you may have to pay back all or some of the discount.

If your council home was transferred to a housing association or you were moved into a different property, you can look into the Preserved Right to Buy scheme which offers discounts up to £78,600 (or up to £104,900 in London).

https://www.pennanthomes.co.uk/2018/07/09/423/

The ‘Right to Acquire’ scheme is similar, but is just for housing association tenants who have rented from public sector landlords for three years. Public sector landlords include:

housing associations
councils
the armed services
NHS trusts and foundation trusts

Again, there are clauses, for example, the property needs to have been built or bought by a housing association or local council from 1st April 1997 onwards and you cannot use this scheme if you are a council tenant. Through this scheme, housing association tenants can purchase their home for discounts between £9,000 and £16,000 depending on where the property is located.

TESTING THE WATERS

Rent to Own is something to be considered if you are not ready to commit to buying a property and would like some time to transition from renting to buying. Under this scheme, you would be able to live in a new build property for between five to seven years (depends on the housing association), paying 80% of the market rental rate. Between the end of the second year and the end of the term, you would be able to buy the property outright, or buy part of it through Shared Ownership. If you have changed your mind about purchasing that particular property, you can move out of the property after five-seven years. Some housing associations will allow you to stay for longer, but again, it depends on the company.

The benefits of this scheme are that you get to live in a new property for a lower than typical rent. This is particularly helpful if you are set on living in a particular area but cannot afford market prices. The savings you make on the rent can then go towards a deposit for the property later down the line. When you are ready to purchase the property, you get 25% of the rent you’ve paid back. In addition to this, you get 50% of the increase in the property’s value, which again can go towards the deposit.

The disadvantage of this scheme, is that it is not as common as the other schemes and so is more competitive. Your household also has to be earning £60,000 per year or less, you have to have a good credit history and you cannot have other properties. Different housing associations offer different things so it is always good to seek advice so that you make the best choice possible.

WHY BUY WHEN YOU CAN DIY?

If you can’t find what you want on the property market and you want something new and bespoke then Self Build is definitely the way to go. This is obviously the most onerous way of owning a home, as you have to source and buy the land before embarking on the building process. If you are not confident in starting from scratch on a self build project, you can look for land that already has planning permission in place – eliminating the need for you to hire an architect to draw up plans. This obviously makes the project less bespoke (to you), however, the process of obtaining planning permission takes time, effort and know-how, so it is worth avoiding if you do not already have a ‘grand design’ in mind. Another disadvantage to this method, is that land has increased significantly in value over the years, is a hot commodity and/or may not be freely available in the location that you want to live. The upside to self builds is that you could potentially get something that is, overall, less costly than buying a building that already exists. This means that you will (typically) instantly make a profit once the project is complete. There is plenty of support out there in the form of land finders, architects, project managers etc to help you through a self build project, so that you can create the home of your dreams.

https://www.homebuilding.co.uk/self-build-homes-for-every-budget/

The method you choose to use to buy a house depends on a wide range of factors, such as finance, experience and non-negotiable things you want in a property. Whichever route you take, make sure that you have properly researched your options and that you understand the terms and conditions. Owning a property (especially if you need a mortgage) is a serious financial obligation; not keeping up with the payments on a property can have serious consequences. If you are particularly drawn to a method, try to find someone (preferably that you know) who has used that method to purchase or build a house already. They may be able to share their experience with you and give you more information from a practical point of view.

The important thing is to take time enjoy the process of finding a home, as although it can be stressful at times, it is a very rewarding in the end and you learn a great deal along the way.

In The Spotlight: Georgian Homes

In a previous blog, I mentioned that when renovating, it is worth restoring or re-installing any period features that may be lacking its lustre or may have been removed by previous homeowners. When doing this, it is definitely helpful to know what the typical features of a particular style are so that you can confidently make design choices that will enhance your home. This blog puts Georgian homes in the spotlight by highlighting key features from this particular span of time.

In this blog, I am highlighting the Georgian Period which began after the Restoration era. It covers the years 1714 – 1830, during which Kings George I through IV reigned on the English throne (hence the name).

Georgian architecture is closely linked with the Mediterranean, classical style of design which is modest and features strong lines of symmetry, and strict proportions (reminiscent of Palladianism).

During this era, the wealthy invested their excess money in ‘Country Homes’ set within landscaped parks, whereas those who were less well-off lived exclusively in narrow terraced houses like the ones in the image below.

EXTERIOR FEATURES

As mentioned above, simplicity is key in terms of the Georgian architecture and the facade is one of the most important design elements for buildings in this era. The strong lines of symmetry and strict balance of proportions in the facade is dictated by the placement of the doors and windows as well as the parapet and lower pitched roofline.

One of the first things you will notice about a Georgian House is its front door and the architrave surrounding it. Typically, a Georgian front door had six panels and was often surrounded by iron work, such as railings or archways with oil lamp holders. Towards the middle of the era, semi-circular windows started to appear above the front door, in order to allow more light into the hallway beyond. If you are planning on installing a new front door on your Georgian home, you should opt for a six panel door rather than a four panelled one, as that is more typical of a home from a later period.

Next, your eyes would probably be drawn to the intricate sash windows that a classic Georgian House has to offer. The sizes of these windows were usually perfectly proportioned in a 1:1.6 ratio meaning that the height of the window was 1.6 times the width. Rooms tended to have multiple windows and the frames were large in this era in order to maximise the amount of light entering a room. Although the window frames were large, the glass was split up into smaller panes in order to minimise the amount of window tax that needed to be paid.

Over the course of the Georgian era, window tax was reduced and larger panes of glass became available. Due to this progression, the sash window formation went from six over six panes, to four over four panes and then two over two (image below). If you have less panes in your original sash windows, then your home was probably built towards the latter part of the Georgian times.

Sash windows with multiple window panes in them really are a fundamental part of the look and feel of homes built in the 17-1800s. If your home falls in this period and you are looking to change your windows, you should definitely avoid replacing them with casement windows.

If your original sash windows still have single glazing and you’re not ready to invest in replacing the windows and frames just yet, you could explore secondary glazing as an alternative option.

INTERIOR FEATURES

In keeping with the exterior architecture, Georgian interiors are structurally and visually linear, balanced and symmetrical in their structure, giving off a calm and relaxing aura.

Niches and alcoves are common in Georgian interiors. They create visual interest, as well as provide little nooks for reading, studying or storage.

A fireplace is usually sandwiched between two alcoves in the main four rooms of a typical period home (unless they have been removed). Fireplaces serve as a key aesthetic feature in rooms and this is particularly true of Georgian ones. Although fireplaces are symmetrical with strong horizontal and vertical lines, a Georgian surround can include small ornate moments as in the picture below. Iron features heavily in this era, so it is fitting that fireplace inserts were made out of cast iron.

Some homes have had their fireplaces blocked up due to electrical and central heating being introduced over time – they simply became redundant as a means to get warm, particularly when they are associated with Carbon Monoxide poisoning! Some homeowners went one step further and removed entire chimney breasts in order to get more floor space in a room. Whilst blocking up fireplaces and removing chimney breasts is understandable, doing so does remove much of the charm and character of period buildings.

If you are looking to open up or rejuvenate your Georgian home’s fireplace, purchasing an antique cast iron inset can set you back a few thousand pounds and an antique surround a few thousand more! If you are on a lower budget, there are surround and insert replicas that can be picked up for a few hundred pounds. If you are crafty, however, you could probably DIY a Georgian style surround for a very low cost. Whichever option you go for, staying true to the typical proportions and monotone colour scheme of Georgian fireplaces will ensure you have a great focal point that restores balance and character to your interior scheme.

https://www.etonsofbath.com https://www.britainsheritage.co.uk

Coving and skirting during this period are similar to the fireplaces in that they are linear, but can be quite decorative. If you are not restoring coving or skirting that is already in place, then replacements can be purchased quite easily online or in hardware stores. More intricate coving is better suited to larger rooms and country homes, but for a typical residential home, a simpler design would work better so that there isn’t too much visual stimulation.

https://www.stevensons-of-norwich.co.uk https://www.covingshop.com http://www.chilterntimber.co.uk

Another important feature that is key to Georgian interiors is the internal doors which were typically six panelled. Modern or fire-proof six panel doors are readily available in hardware shops, however, as with other period features, you can find reclaimed doors online for a reasonable price. Reclaimed doors are heavier, as they are made out of real (rather than engineered) wood and have a greater depth between the rails and panels. As such, they have a grander and older feel to them and so are definitely worth the investment – so long as there is no specific need for fire doors. Whatever the type of door you choose, it is a good idea to keep the internal doors consistent throughout your home so that transitioning through the spaces makes sense.

https://www.thestainedglassdoorscompany.com

Materials to incorporate into your Georgian interior scheme should include iron, as well as wood, stone and marble. If you are looking to incorporate pattern, go for something that is symmetrical and muted or neutral in colour as the overall feel of your home needs to feel calm and relaxing to be true to the Georgian style. Try light stone flooring, a marble backsplash or iron hardware to finish off your home.

https://valleystoneproducts.co.uk https://www.digsdigs.com https://www.pinterest.co.uk

Spring Refresh

Spring is around the corner, which means summer is getting closer! There is something unique about spring in that it provokes a sense of hope, prosperity and youthfulness.

Spring cleaning is almost a given during this season, but sometimes a deep clean just isn’t enough and a home may need something extra. Here are five low budget (or free) ideas to refresh your home and welcome in the new season.

PERFECTLY PAINTED

Updating your home for home for spring might be as simple as giving a few rooms a fresh coat of paint. This year’s colour palette has a range of neutral and interesting hues, some of which perfectly compliment the season.

Farrow & Ball’s 2020 Colours of the Year offer up some inspiration to help with selecting the right colour for spring. I am particularly drawn to ‘Setting Plaster’, which oozes femininity and is reminiscent of the blossom that appears on trees during this season.

Although blossom is beautiful and leaves you feeling hopeful and refreshed after a long and cold winter, it eventually falls and gives way to vibrant, green leaves. The ‘Sap Green’ colour from Farrow & Ball is reflective of fresh new leaves, and will will emit a sense of calm and optimism when incorporated into an interior scheme.

‘Hay’ is the third colour that this British paint company has teamed up with Setting Plaster and Sap Green. It would be too cliche to liken this tone to the sun that we see start to see much more of over the spring season. So, we will say it is light, bright and warming which is how I am sure we all want to feel as we transition from winter to spring.

Whatever the colour you go for, painting a few walls will give your home a new feel quickly and at a low cost. Painting is an easy DIY project, as it requires relatively few materials that are readily available at local hardware shops such as B&Q, Homebase or Wickes (Poundland also seem to be selling emulsion paint, however, I wouldn’t count on a wide variety of colours being available!)

LET THE LIGHT IN

Dark mornings and evenings will slowly fade away over the next few months so it is worth embracing the improved light levels by replacing or updating your window treatments. There are a wide variety of ways to dress windows (curtains, blinds, and window films to name a few) and each option has their pros and cons. Depending on the material and thickness, curtains are perfect for temperature and sound control as well as light control. Textile curtains also attract a fair amount of dust, acting as a filter from of grime coming in from the outside. The downsides to curtains are that they can be very expensive – especially if you have tall ceilings and wide windows!. You can DIY curtains for cheaper by using material found in haberdasheries or shoos like IKEA, however, they will not be as effective at sound, light and heat absorption. Blinds are typically cheaper – they consist of less material and are easy to install. In terms of light control, blinds can be a better as you can control them in two ways depending on whether you want the window fully or partially revealed. Blinds do need more cleaning and can be a hazard to young children so if you do not want the extra hassle, it might be best to avoid. Window films are great for offering privacy whilst allowing lots of light to enter a room which is why they are great for cloakrooms and bathrooms. Unless specialised/certified, films do not offer any thermal or acoustic benefits. Whichever option you go for, think about how the material, pattern, texture and colour of the window treatment will compliment the overall look and feel of your room.

REPLACE YOUR CROCKERY

Another low cost, but big impact idea might be to replace your tableware. If you’ve had the pleasure of raising children, you may have found that they break your plates or simply throw pieces away by accident. If this sounds familiar, then it is likely that you have mismatched crockery. Buying a new set for the home (even if it is just for special occasions!) can drastically improve the dining room decor by adding style as well as functionality. Beautiful pieces can be picked up for a minimal price at places such as Sainsbury’s, IKEA or even Poundland. If you do not want to buy a full eight-piece set, you can buy a smaller set that complements the set you already have. Different pieces can work together, as shown in the image below – try to play around with colour, texture and shape to give maximum visual interest. Along with new crockery, you could also think about getting a new table runner or other decor items such as candle holders and vases.

table setting decor crockery — sainsburyshome.co.uk

MIX IT UP

If you do not have the spare cash to spend on new items for the home at the moment, then rearranging, the furniture in a room, or swapping a few complimentary pieces between rooms can have a massive impact. Often, we kit a room out with furniture and leave the layout exactly the same for years on end – even if individual pieces are replaced along the way. Changing the orientation or arrangement of furniture, can alter the way light, air and people move around the room thus creating a new feel entirely. Another benefit to rearranging furniture is that you can take the opportunity to deep clean the room properly by getting into all of the corners and behind heavy items such as wardrobes. Additionally, switching things around can help to save or even out the wear and tear on your carpet, as you can hide areas that look worn and reveal the areas that were once protected.

IF YOU’RE FEELING BRAVE

Adding a garden room, such as a home office, gym or summerhouse can add a small amount (roughly 5%) to the value of your property. It is a cheaper way of extending your home without having to add an extension and depending on the size of the garden room, you may not even need planning permission. Garden buildings start from around £1,5000 and are quick to construct and not particularly disruptive in their construction. If you decide that this is the kind of project you want to undertake this year, be sure to consider the location and orientation of the building. Think about how the building will be accessed from the main house, how the light from the sun will affect it and whether there are onlooking issues from the neighbours. If you are going to invest in a garden room, you want to be sure that it is going to be practical for your family. If you like the idea of refreshing your outdoor space but do not want to commit to a more permanent structure such as a garden room, why not opt for a pergola? These can be beautifully styled to be the perfect space for outdoor entertainment.

Pergola Gazebo with drapes — smoothdecorator.com

Refreshing different spaces in your home is just one way of getting ready for the spring season and transitioning through the winter blues. While implementing your big spring plans, do not forget to actually go out and enjoy what nature has to offer over the next few months. Why not take a detour and drive down a tree lined street filled with blossom, walk through a park and observe the daffodils or visit your local farmers market for a taste of everything the season has to offer.

Tips to Improve Your Home

If you are looking to improve your home this year, but are unsure where to start; here are a few tips to help inspire you to kickstart your project.

SEEK PROFESSIONAL ADVICE

A building or home project of any kind is very involving in terms of time, effort and money. Seeking the advice of professionals from the very beginning is imperative to the success of a project. Whilst the average person may be able to refresh a space with a few DIY projects, any project that involves structural works or is likely to include planning or building regulation approval really does need consultation with a professional. If you undertake a major project without consulting Architects, or Surveyors, for example, you could find that you build yourself a project that is more costly in the long-run, is structurally unsound or contravenes building regulations. At the very least, you could land yourself with a finished project that does not maximise your property’s full potential.

PLAN THOROUGHLY

If you are going to ‘go it alone’ then you are going to need to have lots of free time available and you are going to have to be highly organised. If you find that you are unsure about how to go about getting your project completed, you can hire a Project Manager who will be able to ensure that your everything is delivered on time and to budget. They will also be able to help you navigate any problems that you may encounter over the course of your project.

RESTORE PERIOD FEATURES

Do you know when your house was built? Do you know what style of house it is? What would a typical door, cornice or fixture look like? When looking to refresh or renovate your home it is worth doing a little research to find out more about it. Homeowners before you may have unknowingly removed a period feature that is fundamental to the overall feel of the property. Period features are sought after by homebuyers as they add character to a building. If these features are restored well and tie with the scheme of the house, they can increase the saleability and potentially the value of your home when you are looking to sell.

ADD CHARACTER IF YOU HAVE NONE

If your home is newly or recently built, then it will not have the traditional features that a Victorian or Georgian house may have for example. Adding character to the interior of your home will avoid your rooms looking bare and dull. This can be achieved through installing details like coving, panelling and texture. As well as this, including furniture and decor that is visually interesting is a must. When adding character to a new home, it is important to not try to impersonate a particular era, as your home will not feel authentic. It would be a little weird to install a 1930s Art Deco fireplace into a new build home!

UPDATE THE KITCHEN AND BATHROOM

There isn’t much use refreshing a home without updating the kitchen and bathroom. This is where a home’s value is, so it is worth investing properly in these areas to make them perfect. There are so many companies that offer a free (or low-cost) design consultation service. Take advantage of this by booking an appointment with a professional who will help you to maximise the space, which is particularly important for the kitchen. If you already know how what your plans are, some companies have an online 3D visualisation programs that you can use to see exactly how a space will look once complete.

INVEST IN NEW FLOORING

Flooring is one of the things you first notice when walking into a room, as it covers one whole surface! If you can invest in high quality materials, such as stone, wood or tile, then they will stand the test of time, as well as give a high quality visual appeal. The good news for those on a budget is that as technology has advanced, higher quality imitation products are more freely available (for example Amtico, which is vinyl) so you can get the look you love for less!

LET LIGHT SHINE

Good lighting is the key to the success of any interior space. Light makes a room look more spacious, is good for mental health and well being and can also be used as a design feature. One of the ways to instantly improve your home is to enlarge or replace existing windows or even add more windows if that’s achievable. If your windows are dated and are losing their efficiency, replacing them will make your home more energy efficient, thus saving you money. If new windows are not in the budget, then it is definitely worth investing in high quality lighting that is well placed and varied. Bringing natural light together with ceiling, wall, floor and table lighting will ensure that a room is well lit, functional and beautiful.

INCLUDE SOMETHING HOMEMADE

Everyone has talent and has something that they can make. Art is really just what you make it. It is very fulfilling to include a piece of art or decor in your home that you have lovingly crafted. Why else would parents proudly display their little ones’ artistic efforts? Whether you paint a picture, make a storage pot from air dry clay, sew a few cushion covers or ‘hack’ a piece of furniture, every time you look at or walk past that piece, you will feel a sense of pride and achievement. It is small things like this that help to make a house a home and help to improve well-being.

BRING THE OUTDOORS IN

No home is complete without plants. They bring life into a space, add a grounding colour and have a range of benefits. Particular plants, such as Spider plants, Ferns, Peace Lilies and so many more are known for their air purification properties. Not only do they absorb carbon dioxide and produce oxygen at night, they can also remove toxins from the air. This is beneficial following renovation works as so many paints, glues and grouts etc. contain chemicals that are harmful to the body. Having plants in a room, gives the space a calming feel, which is good for mental wellbeing. For additional colour, and visual interest, scatter fresh flowers around the house in different rooms and vases. If buying flowers weekly or bi-weekly is onerous, plant cut and grow again flowers in the garden so that you can have a supply of fresh flowers through Spring and Summer.

CREATE A SPACE YOU LOVE, THAT WORKS FOR YOU

Ultimately, you are the one(s) living in your home. When completing renovations to a home you plan to stay in long-term, make sure you make decisions that you love. Do not just blindly copy something off of the internet, or be influenced by something you see an influencer do – it may not work for you. Some things may look nice to quickly scroll past in an Instagram post for example, but there is a lot of psychology behind interior design. For example, I watched a video on YouTube where a self-taught designer painted a baby nursery yellow. It looked lovely and someone might be tempted to copy the design, however, yellow is a very happy, bright and energising colour and so a baby may actually find it difficult to sleep in a room that is yellow or creamy yellow. An on trend colour that appears in a lot of interior schemes on social media is grey. This colour gives off nice cool tones and looks crisp and lovely when you get the shade right for the room – worth copying right? Well, no, not necessarily. While it looks nice, it is also pretty much the only colour that does not have a positive psychological effect. It is a ‘depressing colour’ that actually drains energy and lacks stimulation. Over time, those living in homes with grey everywhere may start to feel quite low without really knowing why. It is best to avoid grey – particularly in bedrooms, or areas like a home study where you need to be creative, as it will not do you any favours. If you really love grey, then team it with a colour that is stimulating.

I am not saying do not use the things you see as inspiration – definitely do! The point is… be authentic and seriously consider the things YOU like and how they make YOU feel before spending money on them. You will feel happier and more satisfied for it.

Whatever the project you are embarking on, I wish you every success with it and I hope this blog has given you a few things to think about.

Tips to Help You Get on the Property Ladder

DO NOT GROW UP BEFORE YOU’RE GROWN UP

Adulting is trying enough without making life harder. When you are young, there are definitely things that you can do to help your future self out. One of those things is staying in the family home for as long as possible. Renting can cost three to four times more per month than a monthly mortgage payment, which is almost criminal! Rather than quickly escaping your family home in your late teens/early twenties, why not hang around for a bit longer? It might not seem like the most ‘fun’ or ‘liberating’ option especially if you lived away from home during university, but living in the family home really does have benefits! Whilst you are there, you can progress in your job and work your way up the corporate ladder to earn a higher wage. That way, you can save more money for a deposit so that you can start your independent life paying your own mortgage off rather than someone else’s.

That’s not to say that you can’t contribute while you’re in the family home. You can offer to split the bills, buy food shopping, or find other ways to help out. Another benefit to this is that you are building your family’s wealth instead of letting your money constantly leave the family.

I can appreciate that not everyone has the opportunity to stay in their family home, but if you can, definitely take advantage of low living costs for as long as possible.

SAVE BEFORE YOU SPEND

When you get your monthly wage, set aside a certain amount (that is affordable) per month. Of course, you need to take into account any bills you need to pay, food/travel costs etc. but save a good chunk of your money each month by putting it into a high interest/ISA account. This will help you figure out how long it will take you to save for the deposit you need. For example, if you set aside £600 per month, you know that in 6 months you will have £3600 and in a year, you will have £7200.

If you find that at the end of the month you have money left in your current account (after saving and paying your bills etc.) you can also save that too. If you haven’t used it after meeting all of your needs, it’s surplus money that can be transferred into your high interest account to help you reach your goals faster.

PROVE YOU’RE GOOD WITH MONEY

There isn’t a bank in the world (I don’t think) that will lend you hundreds of thousands of pounds without knowing that you are responsible and reliable with money. As such, you need to prove that you can handle small amounts of debt to increase your credit score. To do this, you don’t need to go off and get lots of store or credit cards because if you are bad with money management, it can all go very wrong! There are multiple ways to improve your credit score, for example, you can get a small loan, buy from a catalogue, get a car loan, or something as simple as have a phone on contract in your name. In addition to this, to have a good credit score, you need to be on the electoral roll, as a lot of companies will not approve finance if you are not on it.

DON’T GO CRAZY TYRING TO PROVE YOU’RE GOOD WITH MONEY

If you are bad with debt management, this will have a detrimental effect on you to the point where you end up with a credit score of zero! If you are getting credit cards, store cards or loans make sure that you are paying them off properly. Pay attention to key information like payment amounts and dates so that you don’t miss them and get penalised by lenders. You do not need fancy cars, expensive clothes and other objects – keep it simple until you are financially free enough to be able to buy things outright. Make sure you’re buying things that you need and that you’re not trying to keep up with the Joneses or ‘influencers’ that you see on social media, as it is just not worth it in the long-run. Also be aware of the fact that your outstanding debt will be taken into account when you apply for your mortgage. The more debt you have, the less a bank will lend you. If possible minimise or pay off your debts before applying for a mortgage so that you get the amount you deserve that’s reflective of your salary.

DO NOT LISTEN TO THE NAYSAYERS

There is always going to be someone to discourage you from progressing in life and reaching your goals. It is important to be able to distinguish between what is good and sound advice and what is someone projecting their own fears onto you or not wanting the best for you. Make sure you do your research and do not listen to the wealth of negativity out there. If I had told everyone I knew back in 2016 that I had £7,000 in my ISA and I was looking to buy a property on my own, as close to London as possible, that wasn’t shared ownership, I would have been laughed to scorn by many. I listened to stories of friends who were on higher wages than me desperately trying to save between £20-60k for their deposits for their forever homes (some of whom still aren’t on the property ladder to this day). Whilst they were/still are umming and ahing, I happily got myself a mortgage on a one bedroom flat at the end of 2016 with a £4,600 deposit. I refurbished it and sold it in early 2019 to buy myself a three bedroom house. If I compare the initial amount that I had in my savings to the equity released from the flat, it would be hilarious to think that I would have been able to save that amount over those 27 months (the length of time I owned the flat) and still be able to maintain a decent lifestyle. My advice is work with what you have and use it as the building blocks for your future.

GET AN AGREEMENT IN PRINCIPLE

Getting an AIP is going to be one of the quickest and easiest ways to see how much money you can borrow. An AIP calculator uses the figures from your salary to calculate your mortgage amount. It adds your deposit and considers any outstanding debt you have or any dependents (i.e. how many children you have, because they can be very expensive!) to give you an overall property purchase price that you can work with.

Most banks have an AIP calculator tool on their website that you can use free of charge which will not impact your credit rating. It can be done in a matter of minutes, yet it really is essential. Estate agents will not consider any offers on a property if you are unable to produce an Agreement in Principle along with evidence of deposit funds. AIPs do expire though, so if the time lapses and you haven’t found a property, you will need to get another one.

LOOK FOR A PROPERTY THAT MATCHES YOUR BUDGET

Property is always worth investing in. It typically yields more return than just leaving your money sitting in a bank gaining 1 or 2% interest. Even if what you can afford doesn’t meet your expectations, you do not have to live in a property forever. It is better to get on the property ladder, save money by paying for a mortgage rather than renting and letting your equity build up in the property over time. You can also force a property’s appreciation in value over a short amount of time by buying it as a refurbishment project. By controlling renovation costs and selling a property on for more money, you can reach your goals much quicker.

I am of course not a financial expert, these tips are based on my experiences with buying my first property. Hopefully someone out there will learn from my mistakes to reach their goals quicker, or find the encouragement they need to get onto the property ladder.

Whatever you are trying to achieve, I pray it works out well for you. Positivity breeds positivity, so keep putting one foot in front of the other to walk towards your goals.

Property development and project management company

Rosanna Alfonso Developments is a Kent based property development and project management company.

We offer a multifaceted approach to project management and can advise, manage and support at all stages of a home renovation project. From initial ideas all the way through to the completion of a project, we’ll use our expertise to save you time, effort and money.