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We have put some tips together that we think anyone who is looking into property should look into, we've complied these tips with the following in mind - 

  • Landlords
  • Tenants
  • Sellers 
  • Buyers

Landlords –

  •  Have a basic knowledge of relevant law, this means that you are less likely to break a law when renting out a property. This can be a big issue if you rent out a HMO, which is basically a multiple occupancy house, which has strict regulations that a lot of landlords don’t fully understand.
  • Choose your tenants very carefully, this is a key tip when choosing who you want in your property. Although a lot of estate agents like ourselves have a referencing system in place which will help to narrow the tenants down, some can slip through and cause you problems, late rent, damage to the property and just general ignorance can be big issues for landlords who haven’t picked their tenants quite so carefully.
  • If the property has gas appliances – make sure it has all necessary certificates. By law you should always have a gas certificate in placellord to show that everything is in working order, and that it is safe to be used by the tenants.  
  • Don’t over do the rent, this is a big problem for landlords as you may think it’s worth £100 or more over what the agency has valued it at. Even if you were to get an estate agents who were willing to put it on the market for as much as you want there might not be many people interested as they know its overpriced, which could mean you are being left with an empty property for a few months. 
  • Make sure the tenancy is legit, this means getting a contract put together that will cover you and outlines all the obligations of the tenants. It is also key to make sure all the tenants living in the house sign the contract, as without their signatures on the contract it doesn’t really mean anything. 

Tenants -

  • Make sure any referees are aware that you have completed an application, as this will stop any delays from occurring.  A lot of applications can take longer because people are unaware of what they need to do, its best to inform your employers beforehand so the delays areminimised.
  • The landlord should always give you a date and time of when he plans to visit; there should never be a time where a landlord invites himself in without prior consent from yourself.
  • Always make sure you know all the prior fees that will need to be paid before you move in as this can catch a lot of people out, itlandlord is always wise to ask the agency you are going through about the fees that they charge so that you can work out if you will be able to afford everything before you move in.
  • Always get the landlords permission before carrying out any decorating. This is always just a precautionary measure so that the landlord can’t say you did it without prior consent, unless stated in the contract it is best just to seek their permission for any changes you will be doing to the property.
  • If signing the lease with other people be aware that you may be liable for any damages that they cause or if they are unable to pay their share of the rent you will have to pay the difference. If you are moving in with friends and you know they wont be able to pay their share of the monthly rent always be prepared to have to make up their share so your rent isn’t late every month. 

Sellers -

  •  Always invite more than 1 agent to value the property. Each agent could have his or her own version of how much the property is worth but it should allow you to have a figure in mind of how much the property is worth.
  • Complete any little jobs that you’ve been meaning to do for past few years. Everyone has little jobs that need to be done such as filling in some holes, fixing the loose floorboards or paste down the wallpaper that has fallen off. While we’re not saying to redecorate the property fixing the littlebisellersts will help the house to look more appealing to potential buyers.
  • Accommodate potential buyers, this means trying to work around their times for viewings rather than them working around you.
  • Clear the outside of the property out, many potential buyers will drive past when they are looking to organise a viewing. Having a front garden full of rubbish will never help you to sell the house because the first thing a person will think is what condition is the actual house in.
  • De clutter and clean the house before any potential buyers come round. A lot of buyers can be put off if there is a lot of rubbish spread around the house or if the house just isn’t clean. Its best to give the house a clean top to bottom in order to be able to impress any potential buyers that come round to view the house. 

Buyers  –

  • Always set a budget. Set a reasonable budget that will enable you to be able to pay for the house and also all the other little bits that come when buying a house this can include, solicitors, removal costs and any work that the property may need doing to it. These can all mount up so make sure you set a budget, which can accommodate for it all.
  • Always keep in mind what the original selling price is for the property your viewing, and try not to make low offers that are bound to be rejected. Ask the agents opinion on the offer you’re making, as they are more likely to have a better understanding of what the seller will and won’t accept.buyers
  • Check the area of the property you are viewing. Key things like public transport, school and shops can all make a big impact on where you move. If you have researched the property beforehand then you will know that the nearest school is only a 10 minutes walk rather than viewing the property and realising the nearest school is an hour bus trip away.
  • Make sure you have all the legal documents ready and waiting to be used. If you have to spend a few days trying to find things it can slow down the sale and potentially you could loose the property if it is taking so long which is why it is best to have all the documents sorted and ready to go.
  • Check the property you are viewing for any damages as once you’ve bought the property they will become your issue to sort out. Make sure you are having a good look around the property and behind anything that looks as if it could be hiding something as this way you are less likely to have any surprises waiting for you once you’ve bought the property.

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To answer the question of buying or renting and which is better is purely based on what you are looking for and your circumstances. Each of them have there own advantages and disadvantages and it purely depends on what you are looking for in terms of if you buy a property or choose to rent a property.

Buying - 

Buying a property can be a stressful and expensive experience but once it is has been completed you can say that you’ve made an investment in your future. The advantages and disadvantages all vary and there might be a surprising amount of disadvantages to buying your own house.

The advantages to buying your own house includes –

  • It can become an asset to you if you pay the mortgage off, as it is something that you could sell off and use the money to invest in something else, and it also means that if you were to retire that you wouldn’t have worry about how you are going to pay your mortgage/rent.
  • Monthly mortgage repayments can be cheaper than monthlyimages rent payments; this can vary depending on the area that you choose to buy your house in. If you move to somewhere where house prices  relow then you may be better buying a house in that area and using it as an investment rather than just renting in that area.
  • You can make your own choices in regard to any changes to the house. These can include something as simple as being able to paint the walls a different colour or bigger changes such as an extension to add more space to the house.

The disadvantages of buying a house are –

  • If you’re circumstances change suddenly such as a job move or splitting up from someone then it can become quite complicated as it can be hard to find someone to buy your house or it can be quite a long process to sell the house. This means that if you have to suddenly move it may not be as easy to move, as it may be if you were renting a house instead.
  •  Initially the cost of buying a house can be a lot more than renting one. The deposit, removal costs and buying furniture to furnish the house can be a lot more expensive than starting to rent a property especially if you find a property that comes fully furnished.

Renting –

There are many advantages of renting a property rather than buying, we have listed some of these below so you can see  -

  • You can move as you wish without being tied down with having to sell a house. This is a big reason why a lot of people will rent a property rather than buy one as they could be working a job that means you have to change location every few months and in turn make it very hard to buy a house.
  • You don’t get stuck with any high paying maintenance bills unlike if you owned your own house. If the boiler broke or the roof was leaking it would be the landlord’s priority to sort it out rather than you having to find the money to cover the costs of the repairs, which can then cause big money worries if the bills are big.
  • The affordability of house prices won’t affect you as much as someone who owns their own house and is looking to sell it as renting means you don’t have such a big financial burden over you.
  • If you’re renting you may be able to afford somewhere that is a lot better in terms of the schools, the house and the overall area whereas if you would try to buy in that area then you would end up with a big mortgage which could put a big strain on your finances.piggy bank
  • The initial deposits for renting are always going to be a lot lower than having to save up for a mortgage which will suit a lot ofpeople better as its less money that they have to save rather than spend.

 

As well as all the positives about renting it does also come with its fair share of disadvantages -

  • You can’t always decorate the property like you would like to, a lot of landlords have rules about what can be done to the property. This can include not being able to put shelves up or being able to put your own preference of décor up.
  • Some landlords won’t accept pets which means that if you are moving with pets it can become a real issue for you as you may find it a lot harder to find a landlord that will allow for pets to live at the property which can in turn cause stress to be put on you.  
  • A lot of the time renting is referred to as “dead money” which is basically due to it not really helping to benefit you whereas when you buy a property you are paying to eventually own it.
  • If the landlord wanted to sell the property then you would have to then find somewhere else to live which could cause you big problems if you are unable to and the leaving date is getting closer. Situations like this can be quite sudden and you may find that rent prices have risen and you can no longer afford to stay in the area that you have been.

In conclusion, the buy vs. rent argument will always depend on your own circumstances and how it fits you best. Both of them have their fair share of advantages and disadvantages but it will always be personal preference as to why you choose one over the other. This article would of hopefully helped to show you both sides to the argument so you can make a decision that suits you the best whether it be to buy a property or to rent one. 

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Why Choose Wolverhampton?

Wolverhampton is a vibrant city in the heart of the West Midlands. Whether you are looking for somewhere to settle down with your family or if you are someone who is at the local university, there will be something here to suit your needs.

The transport links from Wolverhampton mean that travelling to work is easily done, the city boasts a bus network which means you can travel across the West Midlands using the network, the train network is also extensive with major lines running to Birmingham, Manchester and London daily. The city also has its own tram network which runs between Wolverhampton city centre and Grand Central (Birmingham New Street), and the city also has close links with major motorways such as the M6, M5 and M54.

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Shopping in the city centre is very enjoyable as there are an array of shops such as Next, Primark, River Island and Boots. The main indoor shopping centre has recently undergone a redevelopment, which now houses a big Debenhams department store. The city also has great links with other shopping areas such as Merry Hill, Birmingham and Telford all of which have an abundance of shops suited to everyone’s taste. 

In Wolverhampton there are a lot of places to get good food from with Nandos, McDonalds, KFC, Cosmo, and Bella Italia all being popular places. Some of these are at a smaller shopping area in Wolverhampton called Bentley Bridge which houses shops such as Dorothy Perkins, Peacocks, Home Bargains and Aldi on the retail park. 

The city also has great housing areas for families with places such as Penn, Castlecroft, Perton and Compton being popular choices, with house prices averaging around £200,000 or for renting around £625, this means that these areas are affordable and in good locations for raising a family. If you are looking for somewhere for a single person or closer to the centre of the city then places such as Whitmore Reans or the city centre itself can be very handy if you need to get to places such as the university, in these areas rents can average between £400 - £600 depending on what you need. 

If you are looking to move to Wolverhampton to raise a family then schools will be a big focal point of where you move. In Wolverhampton there are many schools, which are achieving good grades including secondary schools such as Wolverhampton Girls High School and Highfields School. The primary schools are also very good in Wolverhampton with St Jude’s Church of England, Grove Primary Academy and Elston Hall all doing very well.  There are also a lot of choices for further education with Wolverhampton College and many sixth forms across Wolverhampton being rated as good or outstanding by Ofsted. 

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Wolverhampton has a lot of things to do with there being a lot of parks such as West Park and East Park. The city has a lot of attractions, which are easily assessable with the travel network surrounding Wolverhampton, Alton Towers, Drayton Manor, The Royal Air Force Museum Cosford and the Black Country Living Museum are just a few to name. If you’re a big sports fan, Wolverhampton is home to a well known football team – Wolverhampton Wanderers or Wolves, the stadium is located right in the centre of the city so it is easily accessible if you wanted to go and see a game. 

 Fun Facts –

  • Wolverhampton was given city status in December 2000 as one of the three millennium cities.
  • Named after Lady Wulfruna who founded the city in 985AD.
  • Billy Wright became the first player to get 100 Caps for England; he spend his 20 year career at Wolves
  • As of 2011 the city has been twinned with the city of Buffalo in New York.