Bayswater

What effect will stamp duty changes have on house sales?

One of the few remaining measures in Kwasi Kwarteng’s mini-budget was the slashing of stamp duty, especially for first-time buyers. So, what are the changes and how will they affect the housing market?

There are two main changes – for ordinary buyers, the Stamp Duty (SDLT) threshold has been raised from £125,000 to £250,000. From there on, as before, they will pay 5% between £250,001 and £925,000, 10% from £925,001 to £1.5m and 12% thereafter. For first-time buyers, the Stamp Duty threshold has been raised from £300,000 to £425,000 for properties of up to £625,000 (up from £500,000). The 3% surcharge for second properties and BTLs and the 2% surcharge for foreign buyers remain unchanged.

As a result, 33% of all homes for sale will no longer be subject to SDLT (7% previously). At the time of writing, the average property for sale on Rightmove is £367,760. A typical buyer would therefore pay £8,388 before the change and £5,888 afterwards – a saving of £2,500, which is their maximum achievable saving. For first-time buyers, the figures are higher - 66% of homes will now be SDLT-free, with savings of up to £11,250. And, if they were to buy the average property, their SDLT would be reduced from £3,388 to zero. There would be savings for second home buyers, too – their tax bill on the average property coming down from £19,421 to £16,921.

Although first-time buyers (FTBs) would therefore appear to be the biggest beneficiaries, it is not so straightforward. FTBs tend to buy cheaper properties - flats and small houses which are often below the average price. In fact, it is estimated that the majority of FTBs spend under £250,000 on their first homes, which means the reduction in Stamp Duty will have no effect whatsoever on them, as they were already below the tax threshold. It is only in the more expensive areas, such as London, where the changes will be felt most, and only for purchases under £625,000, bearing in mind the average London property on Rightmove is £682,499.

If, though, an FTB was to buy a typical flat, say, in the London borough of Merton (avge. flat price £431,131), they would previously have paid £6,557 in tax but will now pay just £307, a saving of £6,250. The maximum saving would be for a property costing £625,000, whose stamp duty would have been reduced from £21,500 to £10,000.

STANDARD HOME PURCHASE

BRACKETS                     RATE
£0 - £250,000                    0%
£250,001 - £925,000         5%
£925,001 - £1,500,000     10%
£1,500,001+                     12% 

FIRST-TIME BUYERS

BRACKETS                     RATE
£0 - £425,000                     0%
(but only for purchases up to £625,000)
£425,001 - £925,000          5%
£925,001 - £1,500,000      10%
£1,500,001+                      12%

STAMP DUTY ON AVERAGE HOUSE
£367,760 (Rightmove)

STANDARD PURCHASE          FTB
SDLT was £8,388                       £3,388
Now £5,888                                £0
Saving £2,500                            £3,388

So, will the savings stimulate more activity in the housing market? The answer is a qualified yes. Unlike the Stamp Duty holidays, though, the changes are permanent, so there will be less urgency. In addition, the maximum savings of £2,500 for normal buyers, although not unwelcome, are not enough to offset the rises in mortgage rates. For first-time buyers, however, it is a different story. One of the biggest barriers to entry for them has been raising the deposit, which includes making a provision for Stamp Duty. In the more expensive area, that just got considerably easier.

by adam

How to reduce fuel bills this winter

Over the last few months, the headlines have been full of horror stories about surging energy costs. And, even though there was some relief when Liz Truss capped prices, we will all still see a substantial rise in our bills. To give you an idea of the scale of the increase, last year, the average energy bill was capped at £1,277. It is now more-or-less double that at £2,500. Whether it’s your own home or a rental property (especially ones with bills included), we thought it might be a good time to give you some tips on how you can reduce your bills.

1. Up to a quarter of your home’s heat escapes through the roof, so one of the first things you should do is make sure your loft is properly insulated. Even if you already have some form of insulation, it may not be enough. The recommended depth for mineral wool is 270mm. Installing it will cost around £300 for the average home (there are some grants available for those on low incomes). It typically saves approximately £350/year on current prices.
2. Turning the heating down by just a few degrees can also make a big difference. If you reduce it from the average 20° down to 19°, you may not even notice the difference. Every degree is worth approximately £130/year. While you’re at it, make sure your hot water is set at 60º C or 140º F. If it’s not, you could be wasting money.
3. Lights account for 19% of your electricity bill. If you replace all your standard bulbs with energy-saving LED ones, you’ll save around £120/year.
4. Something else that’s quick and easy to do is to fit draught excluders in those gaps around doors and windows, especially where sash windows join. And, since around 14% of air escapes via the chimney, it is also worth sealing up any unused fireplaces. Savings - appx. £150/ year.
5. Try taking a shower rather than a bath, as it uses almost 70% less hot water. If at the same time, you fit an eco-showerhead, a family of four will save about £150/year. And, if you have a water meter, you will save on your water bill too.
6. Just turning things off rather than leaving them on standby will save you £100-£180/year.
7. According to LG Electronics, "heating the water in the wash drum accounts for about 90% of the energy your machine uses." So, do your wash at lower temperatures and save £80/year.
8. Some of the more expensive solutions include changing your boiler, which accounts for 79% of your fuel usage. Replacing one for a 3-bed house costs around £1,500-£2,000 but could save over £400/year if your boiler was old and inefficient.
9. If you put in double or secondary glazing, it’s expensive, but could save you £330/year and eliminate some of those unpleasant draughts. The installation costs will vary wildly depending on the number of windows, their size and the materials used. An average-sized, double-glazed window will cost around £600 to buy and fit.
10. Many people are also considering alternative sources of heat and energy, such as wood burners, solar panels, and/or making more use of existing fireplaces. There are though, a few things to bear in mind:

Solar panels: a 4KW PV system will cost around £6,000 to install and will normally save you between £180 – £480 a year. Demand for them, though, is likely to be very high at the moment.
Wood burning stoves: The average stove costs between £900 and £1,500 and another £800 to £2,500 to install, depending on whether you have a chimney or not. You should be aware that they are subject to Building Control. Before energy prices rose, wood-burning stoves were said to be 13% cheaper than gas central heating, so they will be even better now.
Making use of existing fireplaces: if you haven’t used them for a while, make sure you get them cleaned first, which should be done at least once a year. You also need to check if you are in a smoke Control Area (https://www.gov.uk/smoke-control-area-rules) before deciding what type of wood or coal to buy.

*Savings will vary considerably between properties. Older, more inefficient homes may see considerably more savings than newer ones. Savings are based on the current, £2,500 price cap.

by adam

Base Rate Rise

As ever, at Homesite, we like to keep you up to date with all the latest news and with the Bank of England raising the base rate by 0.5% to 2.25%, we thought it might be a good time to take a look at its implications.

The rise is the seventh rise in a row and the base rate is now the highest it has been since November 2008. The Bank was originally planning on making the announcement on September 15th, but out of respect for the sad passing of the Queen, they postponed it until 22nd September.

There was speculation it could be a record-breaking 0.75% rise, so there is some relief at the smaller rise. The money markets are now factoring in that it will keep on rising until February of next year, peaking at 4%, with typical mortgage rates of 4.4%, before falling back to 4% in April. There are, however, a lot of variables that could come into play during that period, not least a new Prime Minister, so the outlook could change quite quickly.
Even before the announcement, mortgages rates were rising, with even the very best deals around 3.5% and the average closer to 4.5%. There has also been a reduction in the number of available deals as lenders consolidate, although they are at least lasting a little longer before being withdrawn from the market - up from a low of 17 days to 28.
To give you an idea of where mortgages currently are, and how much they have risen: below is a selection of best buys from Moneyfacts.co.uk from both September 2022 (bold text) and September 2021 (plain text). It is easy to see why large numbers of borrowers are rushing to fix their rates before they go up again. As rates are changing on a daily basis, these figures are already likely to have been superseded.

Best two-year fixed rate
Sept 2022: 3.44% from Post Office Money
Sept 2021: 0.92% from Barclays

Best three-year fixed rate
Sept 2022: 3.77% from Coventry BS
Sept 2021: 0.89% from Nationwide BS

Best five-year fixed rate
Sept 2022: 3.49% from Barclays
Sept 2021: 0.98% from NatWest

Best discounted variable
Sept 2022: 1.98% from Progressive BS
Sept 2021: 0.99% from Progressive BS

Buy-to-let (BTL)

Best two-year fixed rate
Sept 2022: 3.89% from The Mortgage Works
Sept 2021: 1.19% from The Mortgage Works

Best five-year fixed rate
Sept 2022: 3.99% from The Mortgage Works
Sept 2021: 1.44% from The Mortgage Works

Best discounted variable
Sept 2022: 2.29% for 2 years. from Bath BS
Sept 2021: 1.66% from Leek United BS

The good news is, despite consecutive base rate rises, the huge gap between supply and demand is ensuring house prices remain steady. Buyer enquiries are currently 20% above the level they were at in 2019. And, at the same time, although the supply of new property to the market has improved slightly, it is still heavily restricted, with available stock down 39% over the same period. Price rises, though, are not immune to the base rate and rises are likely to modify over the coming months but still remain in positive territory (figures: Rightmove).

Tim Bannister, Rightmove’s Director of Property Science says:

”It’s likely that the impact of interest rate rises will gradually filter through during the rest of the year, but right now the data shows that they are not having a significant impact on the number of people wanting to move. Demand has eased a degree and there is now more choice for buyers, but the two remain at odds and the size of this imbalance will prevent major price falls this year. For those looking to move who are concerned about interest rate rises, it’s important that they get a mortgage in principle early on in their moving journey to understand what they could afford to borrow and find out about the rates available to them to assess what they are able to repay each month.”

He goes on to add that he expects prices to end the year 7% up on 2021.

by adam

What is a Property Deed?

When you buy a piece of property, you will usually have to sign some sort of document. This is because real estate is one of the few types of assets that comes with its unique set of laws and regulations. In general, these documents are referred to as deeds. Property deeds are legal documents that prove that someone owns a particular land or property. They also outline the terms and conditions for transferring ownership if the owner ever decides to sell it or give it away for another reason. So even if you’re not considering selling your property anytime soon, it’s still important to understand what deeds are and how they can help protect your land.

What is a Property Deed?

A property deed is a legal document showing real property ownership. The deeds of property usually indicate the owners’ names, the legal description of the property, and the date when the owners bought their pieces of land. A deed also states when and how the owners can sell the property if they choose to. Once they sell the property, a new deed must be created to give to the new owner. Property deeds also act as proof that someone owns a particular piece of land or property. 

Why Do You Need A Property Deed?

There are a few reasons you should be careful to hold on to your property deed(s). First, if you ever need to make a claim on the property, then having a deed that proves you own it is crucial. If you don’t have the deed, then you might have to jump through some hoops to prove that you should be allowed to stay on the land. You may have to leave if someone else owns the land and you don’t have a deed. Second, if you ever want to sell the land. If you don’t have the deed and someone else does, then you’ll miss out on the chance to sell your property. So, if you want to sell your land, keep the deed in a safe place. If you have a deed, then you can use it in the future when you want to sell the land.

Types of Property Deeds

There are several different types of property deeds, and each one serves a different purpose. For example, quit claim deeds are used to transfer ownership of a piece of land, while warranty deeds are designed to protect the seller from any future claims against the land. There are also grant deeds and special warranty deeds, which are rarer variations of these two options.

How to Safely Store Your Property Deed

You can do a few things to keep your property deed safe and secure. First, make sure that all of your important documents, including your deed, are stored in a safe place. This can be a safety deposit box or a fireproof box in your home. Second, make sure you record your property deed in a central database. This will help protect you if someone else claims to own your land.  Third, consider making a digital copy of your deed. This can be helpful if you need to share the details of your deed and you don’t have a physical copy.

by adam

What is Ground Rent?

You probably have a vague idea of what ground rent is. You know it is something that you need to pay to own property, but you’re not sure how much it costs or even what it means. Many people find the idea of ground rent bewildering and confusing. In this article, we explore the meaning behind ground rent and explain different aspects of this regular payment. Whether you are looking to buy a house, apartment, condo or any other property, there is almost always an additional cost involved called ground rent. Read on to find out what ground rent is, as well as how much you can expect to pay if you are considering buying a property that has it included in the purchase price.

What is Ground Rent?

Ground rent is a regular payment made to the owner of the land that you are renting. The fee is in exchange for the use of the land and is a form of leasehold tenure or a long-term lease. Many people are confused because the lease is between two parties, the landowner and the tenant. Ground rent is a periodic payment made by a homeowner or tenant to the owner of the land on which the home or building sits. Ground rent is charged based on the number of years that the lease has left. For example, if you have a 50-year ground rent lease, you will pay 50 annual instalments. Ground rent is paid to the landowner by the homeowner or tenant who has leased the land. The ground rent is usually fixed, and the payment amount stays the same over the years.

How Much Does Ground Rent Cost?

The cost of ground rent is usually incorporated into the price of the property and paid by the buyer as part of the purchase. This is generally done as an upfront cost and a down payment for the lease agreement. The amount of money you will have to pay for ground rent will depend on the location and value of the property. Ground rent is usually charged quarterly, monthly or yearly, and the amount will depend on the length of the lease.  Ground rent is often charged as a percentage of the property’s value or market rent. 

What's Included in Ground Rent?

Ground rent is usually paid to cover maintenance costs and necessary repairs for the building itself.  The lease usually outlines what precisely the ground rent payment covers.

Fixed and Escalating Ground Rent

The length of the lease will also have an impact on the ground rent. If you have a fixed-rate lease, the amount you pay each year remains the same for the entire length of the lease. However, with an escalating lease, the amount you pay each year will increase over time. Therefore, property owners, especially large corporations and real estate companies, often opt to include escalating ground rent clauses in their lease agreements.

Conclusion

Ground rent is a nominal amount paid by the homeowner to the property’s owner (usually a real estate company or developer). It is usually a yearly payment, either on a fixed amount or as a percentage of the property’s value. When you buy a property with ground rent, you have to pay the cost of the rent for the rest of your life. Always read the contract carefully to find out how much ground rent you will be paying and how it will fluctuate. You can also ask the seller for information about the current owner and their right to increase the rent. 

by adam

Stamp Duty for Non-UK Residents

For those of you who are not UK residents, it is important to be aware of the stamp duty rates and how they may apply to you when purchasing property in England or Wales. In this article, we will provide a comprehensive overview of stamp duty for non-UK residents, including what constitutes a taxable transaction and how much tax you can expect to pay. We will also discuss some common exemptions from stamp duty and ways to reduce your bill. So whether you are thinking of buying a property in the near future or are just curious about this tax, read on for more information.

What is Stamp Duty?

Stamp duty is a tax that is levied on certain legal documents in the United Kingdom. The most common type of stamp duty is charged on property transactions, such as when you buy a house or land. This tax is usually paid by the buyer, but there are some circumstances in which the seller may be liable.

Calculation of Stamp Duty

The amount of stamp duty you will pay depends on several factors, including the value of the property, whether it is your main residence and whether you are a first-time buyer. In England and Wales, rates are currently as follows:

• Properties worth up to £125,000: 0%
• Properties worth between £125,001 and £250,000: 0% on the first £125,000 and then 0% on the remaining amount
• Properties worth between £250,001 and £925,000: 0% on the first £250,000 and then 20% on the remaining amount
• Properties worth between £925,001 and £150,500: 0% on the first £250,000; 20% on the next portion up to£925,000; 40% on anything above that
• Properties worth more than £150,500: 45%.

Less Than Market Value or Inherited Property

If you are buying a property for less than market value or inheriting a property from a family member who has died, you may be eligible for reduced rates of stamp duty. There are also certain types of properties that are exempt from stamp duty altogether, such as caravans and mobile homes.

Joint Bought Property

If you are buying a property jointly with another person, each of you will need to pay the relevant amount of stamp duty based on your respective share of ownership. So, for example, if you are buying a property worth £300,000 with someone else and you will own 60% of it, you will need to pay £120,000 in stamp duty (0% on the first £250,000 plus 40% on the remaining £50,000).

Stamp Duty Applies to Other Legal Documents

As well as being charged on property transactions, stamp duty can also apply to other legal documents such as shares and life insurance policies. The rates for these vary depending on the type of document and its value.

Scotland

If you are buying a property in Scotland, the rules for stamp duty are different. The tax is called Land and Buildings Transaction Tax (LBTT) and is calculated using a different system to the one used in England and Wales.

Who Pays Stamp Duty?

As we mentioned earlier, stamp duty is usually paid by the buyer when they purchase a property. However, there are some circumstances in which the seller may be liable for the tax instead. This includes cases where:

• The buyer fails to pay the stamp duty within the required time period
• The property is sold for less than its market value
• The property is inherited by the buyer

When is Stamp Duty Payable?

Stamp duty must be paid within 14 days of completion if you are buying a property in England or Wales. If you are buying a property jointly with another person, each of you will need to pay your share of the stamp duty within this time period.

Interest and Penalties

If you fail to pay stamp duty on time, you will be liable for interest and penalties. The amount of interest you will owe depends on how much stamp duty you owe and when it is paid. For example, if you owe £500 in stamp duty and pay it one month late, you will owe an additional £50 in interest. Penalties for late payment of stamp duty can be either civil or criminal. Civil penalties are issued by HM Revenue and Customs (HMRC) and are usually a percentage of the tax owed, with a minimum penalty of £100. Criminal penalties can only be issued by the courts and may result in a fine or even a prison sentence. However, it should be noted that criminal prosecutions for failure to pay stamp duty are very rare and usually only occur in cases of serious tax evasion.

by adam

Notting Hill Blue Plaque Tour

Notting Hill is one of the most vibrant and colourful neighbourhoods in London. It's also home to many famous historical landmarks, including the Notting Hill Blue Plaque Tour. This tour is a must-see for anyone visiting the neighbourhood. The plaques commemorate some of the most important and influential people who have lived in Notting Hill over the years.

22 Portobello Road

The first stop on the tour is at number 22 Portobello Road, which is the former home of writer and social activist George Orwell. The plaque commemorates Orwell's time spent living in the neighbourhood and his important work in exposing poverty and inequality in British society. Orwell lived in Notting Hill for two years, from 1927 to 1929. He was attracted to the area because of its diverse population and vibrant atmosphere. In his book "Down and Out in Paris and London", Orwell chronicled his experiences living among the poor and working-class residents of both cities. His time spent in Notting Hill helped to shape his political views, and he would go on to become one of the most important authors of the 20th century. The plaque at 22 Portobello Road is located on the side of the building where Orwell lived. It's a small, unassuming plaque, but it's definitely worth taking a photo of!

Orwell is just one of many notable figures who have called Notting Hill home over the years. The area has long been a haven for artists, writers, and musicians. Many famous people have lived in the neighbourhood, including playwright Oscar Wilde, singer Amy Winehouse, and actor Hugh Grant.

25 Kensington Park Road

The second stop on the tour is at number 25 Kensington Park Road, which is the former home of British Prime Minister Winston Churchill. Churchill lived in Notting Hill for over 20 years, from 1900 to 1922. He was first elected to Parliament in 1900 and served as Prime Minister from 1940 to 1945. Churchill is one of the most important figures in British history, and his time spent living in Notting Hill was crucial to his development as a politician. The plaque at 25 Kensington Park Road commemorates Churchill's time living in the neighbourhood and highlights his importance to British history.

33 Pembridge Road

The third stop on the tour is at number 33 Pembridge Road, which is the former home of writer Virginia Woolf. Woolf lived in Notting Hill for two years, from 1912 to 1914. She was attracted to the area because of its bohemian atmosphere and diverse population. Woolf is best known for her novels "Mrs Dalloway" and "To the Lighthouse". Both novels are set in London, and many of the locations mentioned in the books can be found in Notting Hill. The plaque at 33 Pembridge Road commemorates Woolf's time spent living in the neighbourhood and her important contribution to literature.

45 Lansdowne Road

The fourth stop on the tour is at number 45 Lansdowne Road, which is the former home of poet W.B. Yeats. Yeats lived in Notting Hill for two years, from 1909 to 1911. He was attracted to the area because of its bohemian atmosphere and diverse population. Yeats is best known for his poems "The Lake Isle of Innisfree" and "When You Are Old". He also wrote many plays and essays and was a key figure in the Irish Literary Revival. The plaque at 45 Lansdowne Road commemorates Yeats' time spent living in the neighbourhood and his important contribution to Irish literature.

60 Golborne Road

The fifth stop on the tour is at number 60 Golborne Road, which is the former home of artist Banksy. Banksy lived in Notting Hill for two years, from 1997 to 1999. He was attracted to the area because of its vibrant street art scene. Banksy is best known for his stencilled graffiti art, which often features political or social commentary. He has become one of the most famous artists in the world, and his work can be found all over London. The plaque at 60 Golborne Road commemorates Banksy's time spent living in the neighbourhood and his important contribution to street art.

Notting Hill is a truly special place, and it's easy to see why so many famous people have chosen to live there over the years. The area has a rich history, and its diverse population and vibrant atmosphere make it a unique place to live. If you're ever in London, be sure to take the Notting Hill Blue Plaque Tour! It's a great way to learn about the area and see some of the most important sites in British history.

by adam

Which period has the most valuable homes? 

Victorian? Georgian, Elizabethan? Newbuilds? 

Have you ever wondered what effect the age of a property has on its value? What is the
difference, say, between a 4-bedroom Victorian house and a comparable Georgian one? Come
to that, what are the most and least valuable periods for property? And what about new
builds? Are they more valuable?

A few years ago, Halifax carried out a survey to answer just these types of questions, comparing the
prices paid for different period properties of similar sizes and locations. Clearly, it is not possible to be
100% accurate with comparisons of these kinds, as many of the older properties are unique, however,
it does give you a rough idea of how it all works:

Medieval (1000-1500) +20%
Tudor (1500-1558) +31%
Elizabethan (1558-1603) +32%
Jacobean/Carolean1/Cromwellian (1603-1660) +34%
Restoration/William & Mary/Queen Anne (1660-1714) +24%
Georgian/Regency/William (1714-1837) +18%
Victorian (1838-1901) +8%
Edwardian (1901-1919) +2%
End WWI to end WWII (1919-1944) +4%
Post War (1945-1959) +0%
Sixties (1960-1969) -2%
Seventies (1970-1979) -3%
Eighties (1980-1989) +3%
Nineties (1990-1999) +8%
Present (2000 +) +12%
New Builds - Much like a new car, they often have a one-off premium when first occupied, which can
run up to 25%.

From these statistics, it is clear that, despite the draughts, the high maintenance costs and the
planning restrictions, we are still in love with period property. And, the older the better, although
unsurprisingly, it is starting to lose its shine when it comes to medieval-style accommodation. In
contrast, newer properties carry a premium for the first few years until they start to look dated, at
which point their values dip slightly for between 30-40 years before they come back into fashion.

What is a little surprising is that there is not more of a premium for Georgian and Victorian properties,
although this may be explained by their relative abundance. There are plenty to choose from and that
puts a cap on their premiums. A Tudor or a Jacobean house, on the other hand, is more likely to be a
one-off.

The biggest surprise in the survey is that there is a premium to be paid on thin-walled and dated-
looking Eighties properties (+3%). I would have expected their prices to be more closely related to
seventies stock (-3%). Mind you, beauty is in the eye of the beholder and so my surprise may just be
down to my personal preferences.

It will also be interesting to see, with rising energy costs, whether newer, better-insulated homes will
generate increasing premiums when compared to older stock. There’s no doubt that many people
who are buying properties as a buy-to-let investment and with new energy
efficiency requirements coming in for the sector in 2025, it’s likely to be an increasingly important consideration.

by adam

Insider tips from builders

We hear so much about building projects from the homeowner’s perspective, so wouldn’t it be interesting to get the builder’s viewpoint for a change? They're not always an easy bunch to pin down, but fortunately for us, Direct Line Insurance has recently carried out a survey in the area.

According to the 100 builders they quizzed, it's home extensions that are the most popular trend in home improvements, with the average one costing around £35,000. Given that the difference between the average two and three bed properties in London is around £160,000, it’s not much of a surprise. What was more of a surprise was that the builders claim that over 70% of projects are completed within the agreed timeframe and budget, although they did admit that 26% of projects ended up being more expensive than the original quote and 35% ran over time. Maybe I've been watching too many episodes of Grand Designs, but every project Kevin McCloud comes across seems to run hugely over budget and are never even vaguely close to completing on time.

One thing we all agree on is that what homeowners want most is extra space and light. So, on top of all those new extensions, our builder friends are also busy removing walls and adding sliding glass doors and skylights.

Now for the bad bits. If you are thinking about doing a loft conversion – beware! Despite being one of the cheaper types of extensions, 36% of the builders claim they are the most likely home improvement to go wrong. Bathrooms (26%) and kitchens (19%) are next in line. Being on the upper floors and with all that water, bathrooms are not where you want any problems, but before you panic, it doesn’t necessarily mean they leak.

Probably the most useful feedback from the survey is the builders’ top tips on how to get the best out of them, which include:

• Agree a quote beforehand - set aside a strict budget, but don’t forget to allow a contingency in case of any overspend
• Agree on a realistic time frame upfront, but bear in mind that it may be affected by external factors, such as the weather
• Make sure you understand exactly what is involved in the project and be completely honest about any previous work that’s been done in the past that may affect the current job.
• Maintain regular contact with the builders throughout the project period
• Make sure you have a contract in place that covers the responsibilities for all parties and never hand over payments upfront
• Always use the same workforce from start to finish to ensure consistency
• Ensure the builders are working exclusively on your project and that they commit to working on it every day and don’t just turn up when it suits them
• Check your builder has the right insurance in place before any work begins

Most of all, they recommend you plan everything in as much detail as possible and you must get three competitive quotes.

by adam