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[C75]Can T Sell Home

by Lou Lynch, Lou

"A fireplace can sell a home". A sweeping statement, and yet at this time of the year, with the wind howling around the chimney pots, it can hold true. Whether you have a climate that brings lashing rain, gently floating snow, or just cooler temperatures, there is nothing as cozy as a glowing fireplace.

While the optimum is always the open log burning fire, any kind of moving, red glow in a fireplace seems to appeal to the primal senses A recent survey by the Hearth, Patio and Barbecue Association rates a fireplace as one of the most wanted items in a home.

This means that if you are renovating an old home, a fireplace will not only add to the value of the property but it will also add to its appeal. The same thing applies to a new home, of course, and it need not be expensive, as a chimney is not always needed.

When considering a fireplace, there are several types you can choose from. The big three are electric, gas and wood.

An electric fire is the easiest and the least fuss. Then the gas fire is next on the list, as it does need an exterior outlet. This means it requires some building expertise and a qualified gas fitter to install it for you.

The most expensive to install from scratch is a fireplace which burns wood because it needs a chimney of some kind. The chimney takes away the hot smoke and gases from your fire by sucking it up into the outside atmosphere.

Older houses used to be built with a chimney 'stack' which allowed for a fireplace on the second floor to be built directly over the top of the fireplace on the first floor. The same flue (inner part of the chimney) would be used for both fireplaces, thus cutting building costs.

In many of today's homes this idea can still be incorporated, as homes are often built with a basement. The fireplace in the basement could be built directly under the fireplace in the living room.

If you are considering adding a fireplace to your home in order to increase its selling power, keep it simple.

Use bricks or a brick effect, or paving or rock wherever possible. A natural look is best if you are trying to appeal to all tastes. Keep the color very neutral, so that it will blend with any color scheme. You may never want to re-surface your fireplace so think in terms of it lasting a lifetime and avoid very bright colors.

A mantel shelf is still very popular, but do not clutter it with ornaments. If your home is being viewed, make sure you light the fire in advance to ensure that there is no smell of smoke. If you opt to use an artificial log, buy a brand that you have pre-tested to ensure that it does not give off a chemical smell.

Finally, make sure that your whole feels warm, even if it means that you must still keep the central heating on!

The news so far is that some Estate Agents have indicated that the property market looks to be stabilising. The average value of a UK home has fallen by 17.7% during the last year from £194,953 to £160,327 according to the Halifax. This means that the average house has lost £30,000 in the last year. The Bank of England's Monetary Policy Committee has cut their interest rates from 5% in September 2008 to 0.50% last month. A typical Standard Variable Mortgage rate has dropped from 7% in September 2008 to 2.50% this month. Interest rates have never been this low!

It's a buyers market!

You may be deciding to trade up or trade down the property ladder at the moment. But you need to consider that first house price are depressed at present, homeowners are struggling to sell their homes, estate agents are not selling many properties, the market is erratic to say the least, Mortgage Lenders just don't have the stomach to lend money and the mortgage market is stagnant. It's a daunting time to be selling a home or property but a great time to be a buyer –it's a buyers market!

The market place is littered with private residential homes, repossessed properties and buy-to-let properties for sale. Properties are up for sale for a multitude of reasons from homeowners desperately trying to downsize to control costs to an influx of repossessed homes. The opportunity to bag a bargain has never been better and the bargaining power is firmly In the hands of the buyer.

If you have sold your home and have a 15% to 40% deposit to put down on a new property then you are in a wonderful negotiating position – the market is in your favour. It means that you can negotiate strongly for a remarkable deal as you can probably move fast with the purchase and the mortgage lenders will be more willing to lend to you money due to the size of your deposit.

If you're a first-time buyer and have a deposit of around 10% and enough money to cover stamp duty, solicitors' fees, search fees and other associated fees then you should be in a good position to bag a bargain in the current climate.

I was talking with clients of mine who had decided to sell their three bedroomed home and downsize. Their current home is on the market for £215,000 and they have a relatively small mortgage of £35,000. I asked what a smaller home would cost and they said around £175,000. They intended to keep their £35,000 mortgage and save the difference of £40,000 from the sale of their home and the new house purchase.

They told me that their home had been on the market for sale for the last eighteen months. They had seen a few potential buyers who were making very low offers. They asked for my advice and I said that unless they really need the money from the sale of the house they should take their home off the market as the housing market will bounce back in the next five to ten years and it would be better to sell a house in a buoyant market than a stagnant market.

Look for the best mortgage deal

If decide not to move then you should consider remortgaging your home to a better interest rate before interest rates start to rise again. The best mortgage deals around at present are available for anyone looking for a mortgage of less than 85%.

Article Source : Pg. 9

About Author

Both Lou Lynch & Mark Aucamp are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Lou Lynch has sinced written about articles on various topics from Web Development, Sell Home and Portrait Painting. This article was written on behalf of Lou Lynch. Lou offers a new concept when helping you to explore thereal estate area. His combination of time teste. Lou Lynch's top article generates over 2900 views. to your Favourites.

Mark Aucamp has sinced written about articles on various topics from Finances, Sell Home and Free Credit Report Score. Contributing author Mark Aucamp has been providing Talk Money Blog with regular advice and comments. Mark has extensive experience in providing Debt. Mark Aucamp's top article generates over 9900 views. to your Favourites.