Friday, 23 March 2018

Which types of home sell most often in Milton Keynes?







We think your ideal home says a lot about you. If the world were your oyster, would you go for something Victorian, Georgian, a duplex apartment, new build house, or maybe a farm? Given that we live in Milton Keynes, obviously our choices are somewhat limited by reality, but what are the hottest types of property and what does this mean for sellers?


In Milton Keynes, the most common type of property is a 3 bed house. In fact, 54.3 per cent of all families in the area live in such a home. We see a lot of this kind of property come onto the market, but more compact homes are also in high demand, particularly in more central areas. One of the best things about our area is the broad variety of homebuyers all looking for their own perfect next home.


We know the most common type of property in Milton Keynes, but which kind of home changes hands most often? Unfortunately, the Land Registry does not tell us the bedroom count of homes that have sold, so we only know whether they were flats, terraces, semis or detached homes. As such, we can see that it is terraced homes which transact most frequently.


So we know that terraced homes are sold most often in Milton Keynes and most families live in a 3 bed house. In reality, we have a vast cross-section of homebuyers always looking for the perfect next home. If you are looking for someone who understands the market to help ensure you get the optimum price when you come to sell, please get in touch with us by giving us a ring.


The most common type of property is a 3 bed house. In fact, 54.3 per cent of all families in the area live in such a home.

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We've included this chart to show the relative number of flats and houses selling in the last 11 months in our area. Due to the profile of the housing stock in the area, there's nothing too surprising here, but it's interesting to see how the different types of properties contribute to total sales levels.





Annual house price index (house vs flat)


We know we live in a great area, and because most people agree, demand has driven up house prices. But how do prices in our area stack up in terms of property types? This chart looks at the comparison over the last eight years.


Wednesday, 7 March 2018

7 TIPS FOR PLANNING A BUDGET WHEN BUYING A HOUSE IN MILTON KEYNES


Buying a house is one of the most expensive purchases of your life and it’s essential to budget properly or you’ll find yourself in financial distress very quickly. With these 7 easy tips, you’ll find budgeting for your dream property easier than A, B, C.
Get organised
Choose an evening and sit down with your financial paperwork. You need at least an hour to do this correctly and also need to be level headed. Look at things from different perspectives and if it means you have to wait a few months before putting an offer in, then so be it. The larger the deposit the better position you will be in so the further you plan ahead, the larger deposit you can raise.
Consider your credit score
A good credit score will help you secure a mortgage and is one of the most common things that buyers overlook. Stay on top of your income and outgoings, pay every bill on time and make sure that you are on the electoral register.
Look at your income
Calculate your income by adding up your monthly income as well as any savings. Using a spreadhseet on your laptop can make things easier to look at.
Look at your outgoings
Go through all your bank statements and work out what your expenditure is. It is essential to NOT guess, as this will make budgeting very hard. Consider petrol, meals out, beauty and holidays. Cutting out your daily coffee and making your lunch will help and why not sell some of your old clothes on eBay?
Create a plan
Once you have worked out how much money is coming in and how much is going out, it’s time to work out a plan of how much you can afford and how much you can save a month. It is a good idea to look at your energy providers and see if switching tariffs could save you money as well as looking to change your insurance to a cheaper one.
Consider extra costs
There are various fees associated with buying a house so as well as the initial property price, you also need to budget for stamp duty, surveys, legal fees, agent fees and removal costs.
Stick to it
Whilst it may be difficult to say no to that night out or that brand new outfit, in the long run weigh up your options. Is any of the stuff really going to matter when you’re sitting in your very own home? Sticking to a budget for a short while will pay off and the benefits often outweigh the cons.
If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Milton Keynes Property Market together with regular postings on what I consider the best buy to let deals in Milton Keynes, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch! Email me at danielle@inspiredagents.co.uk
If you are in the area feel free to pop into the office we are based at 181 Queensway, Bletchley, Milton Keynes, MK2 2DZ -the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Milton Keynes Property News.