Why Restrictions Shouldn’t Stop You From Moving Home
As we reported in our earlier blog post (link), the property market remains open during Level 4 restrictions here in Scotland. Despite these restrictions in place until December 11th, there are still lots of great reasons why now is a good time to move. So, whether you are moving into your very first home, moving up the property ladder or looking to expand your investment portfolio, here are some of the reasons that you shouldn’t delay your move:
Buoyant market
Since we came out of the national lockdown in June, the property market has exceeded all of our expectations. Not only did we see those that put their moves on hold suddenly push ahead with their plans, but there was a marked re-evaluation of what we all want from our homes leading to a host of motivated buyers looking for additional space to work from home, access to outside space and a move from city dwellings to the countryside. This buoyant market is particularly appealing to second steppers as we are seeing record offers-over and some of the fastest selling times in recent years.
No restrictions on moving in Level 4
Despite the closure of non-essential retail, entertainment venues and gyms, property transactions are permitted along with all activities associated with moving home including estate agent valuations, measurement of floorplans, photography, video and drone footage, conveyancing, repairs, renovations and removals. Clyde Property is operating seamlessly between working from home and allowing clients into the branches with social distancing and safety measures in place.
Stamp duty holiday
The stamp duty holiday remains in place until March 2020 for homes up to £250,000. This is a really good time to move whilst minimising any costs especially for first time buyers – and investors can also make savings.
Settled by early 2021
If you plan your property move in the next few weeks, you could be in your home in the new year or at least by the spring. If you get started now, you’ll avoid any delays from the festive period and with many solicitors and mortgage companies working additional hours to clear the backlog, it could be faster than you think as the market is still moving rapidly.
An ideal time to invest
The government is supporting the housing market throughout this time, recognising the importance of this industry to the economy. As the market remains buoyant, there is an opportunity to make money on your investment and search for a home that better suits your needs whether you’re working from home, looking for more outside space or considering a slower pace of life in a more rural area.
Low mortgage rates
Mortgage rates are still low and there are some great deals available. Although availability from some lenders has reduced, it is worth talking to an independent mortgage broker as you may be surprised in terms of the rates available to you during this time.
Clyde Property is a leading independent, multiple award winning estate and letting agent with more than 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on finding your next dream home.
