Get the Home of Your Dreams Now
Many of us share the dream of property ownership. The idea of walking into our homes and knowing that they belong to us. No longer “wasting” money on rent but paying off a mortgage on a property that we can make perfectly our own. No more living with your mum and dad or those annoying roommates you can’t stand.
However, we often feel like owning our own home is only ever going to be a dream. It can seem completely out of our reach. Especially after the events of 2020, we have been thinking twice about a lot of things.
But don’t let the “new normal” change your mind about going for your goals. Now is the perfect time to invest in property and live somewhere you love. Don’t believe us? Read on to find out why this is going to be your year.
Stamp Duty Relief
Due to the ongoing Coronavirus pandemic, a Stamp Duty holiday has been implemented. As of 8th July 2020, you can purchase a property worth up to £500,000 without having to pay a penny of Stamp Duty.
After this, the amount increases incrementally – i.e., from £500,001 to £925,000 you pay 5% Stamp Duty; from £925,000 to £1.5 million you pay 10% Stamp Duty, and on any property costing above £1.5 million you pay 12% Stamp Duty.
This is a reduced rate that can only continue until 31st March 2021. Once this date has passed, you will be required to pay the usual Stamp Duty costs. Which means you could be saving money by buying sooner rather than later!
The Current Housing Market
You may be wondering how the housing market is faring during such an unprecedented time. It may come as a surprise that it is actually booming! Why might this be the case? Well, a leading reason is that the current pandemic has caused people to reassess their priorities in life.
If someone has had a special dream property in mind, they have been saying yes to buying it rather than worrying about what tomorrow may hold.
More people have also been moving in together due to certain restrictions, cementing their commitment and looking to buy.
After the property market nearly froze earlier in the year, there is a backlog of people wishing to buy. Hence the sheer number of properties being sold.
The Way We Work
Another major shift has been in the way we work. While we used to believe we had to live in the big city to get the job of our dreams, now we know differently. With many jobs adapting to allow employees to work from home, part-time or full time, we can work from anywhere.
So why not escape the overcrowding of cities such as London and Birmingham, and get away to somewhere with lower house prices and a better quality of life? This is why so many people are moving to the countryside and the coast.
A New Life
One of the hottest spots to purchase property, whether you are buying your first home or just making a lifestyle change and selling up, is the South East, specifically Sussex.
With the rolling South Downs and incredible places such as Brighton in easy reach, it is a great place to enjoy the best of both worlds. If you still need to commute into London for meetings, many towns have second-to-none rail links, and in the evening, you get to return to a stunning seaside spot.
Bexhill is a popular place for everyone from professionals and young families looking to build a community to retirees seeking a slower pace of life. Only sixty miles from London, it is an excellent way to keep one foot in the city while you soak up the tranquillity of the seaside. With a beautifully kept promenade and events happening throughout the year, Bexhill is a wonderful choice when looking to buy. Contact our estate agents in Bexill to discuss the properties available.
Lovely St Leonards-On-Sea
Close by to historical Hastings, this seaside town is a wonderful place to live. If you are looking to buy a bigger house for a lot less money than you would spend in London, this is a superb choice. With a sandy beach and a bustling town, there is something for everyone. Whether you want to enjoy its many cafes and galleries, breathe in clean air in gorgeous greenery or do some vintage shopping, you can really slow down and take life at your own pace. Which is something we all need after this past year! Get in touch with our estate agents in St Leonards-on-Sea to view our current range of available properties.
Are you feeling inspired to take another look at your dream home? Now really is a great time to start pursuing the opportunity to own property in a wonderful town. Don’t hesitate, and you could be picking up the keys and opening your very own front door before you know it. And if you’re thinking about moving to Hastings, our estate agents in Hastings and letting agents in Hastings would be more than happy to assist you. We also have properties to rent in Bexhill-on-Sea and St Leonards-on-Sea, so be sure to browse our website today!