RICS helps homeowners improve, buy or sell a home

The lighter nights and bank holidays coming up could only mean only one thing for many of us; house hunting or home improvement time. It is with this in mind that RICS has created an online suite of consumer guides to help homeowners improve, buy or sell a home.

Each easy-to follow guide offers clear, specialist advice, suggestions and helpful recommendations, and is available to download for free, with topics including Home Extensions, Subsidence, Party Walls, Rights to Light, Buying a Home and Selling a Home.

Graham Ellis, RICS Associate Residential Director said: “The RICS Home Extensions guide is ideal for those looking to improve their property, or for buyers planning to take on a property with a view to developing it. With a little imagination and some expert advice, the guide will help you realise your home’s potential; this may be adding a conservatory, converting your loft space into the home office or spare room you’ve always wanted, or even excavating a cellar or basement.”

RICS’ guide on Buying a Home covers the whole process from buying a property to completing, including fees to watch out for – such as solicitor/conveyancer and searches - and what type of home survey buyers should instruct.

Graham adds: “An RICS Home Survey provides an expert account of a property's condition and highlights any problems (such as structural or damp). If any concerns show up in the report, buyers have the opportunity to back-out of the sale or negotiate a more realistic price based on the works that may need to be undertaken.  Different homes require different types of survey, and the RICS Buying a Home guide explains which survey you need.”

RICS’ Selling a Home guide covers all stages of selling a property including choosing the right estate agent and marketing your property effectively. The leading property body says when choosing an agent, find out how and where exactly they will advertise your property and read their terms and conditions to be sure of their fees. RICS also recommend agreeing a maximum selling time. If you’re happy with the service, you can always extend it – and if you’re not, you can change agents when the time’s up.

Roger Punch FRICS, South West Residential spokesperson based in Plymouth commented:
"Even if one is not planning to sell in the near future it is always prudent to attend to maintenance after the winter has passed. It is a lack of focus in correctly prioritising jobs that can not only prove costly in the long run, but decisions to move are often taken quickly, and it is rarely possible to catch up at short notice. Estate agents are regularly asked for advice, but usually days before a property is launched on to the market!"

"Maximising value can also relate to keeping up with changing lifestyles, and the arrangement and presentation of a property follows prevailing fashions. There are also regional variations - what is in demand in London is not always the same as in the West Country."

Peter Bolton King, RICS Global Residential Director, said: “Most properties have expansion or improvement potential, but we would advise homeowners to think about how much they are investing and their key motivator before undertaking major projects. It is important to consider the style and age of the property before undertaking any works. Remember, when you do eventually look to sell, what appeals to you may not appeal to potential buyers.

“Costly disappointments can be avoided by prior planning and research. RICS advise that whatever you decide to do with your home you should seek professional advice and ensure all works are carried out by qualified contractors.”

RICS advice on how to get the most out of property improvements:

• Don’t be tempted to over value an improvement and expect high instant returns irrespective of market conditions
• If extending, make sure that the accommodation provided (i.e. property size) is balanced with the size of the plot, bigger is not always better
• When undertaking a loft extension or basement conversion try to keep the style of the new rooms in sympathy with the style of the rest of the property.  A modern extension on a traditional property may look odd and lose appeal
• If you are trying to sell, bear in mind most areas have a ceiling price, i.e., a maximum sale price you can expect to achieve. Improving a poor property in a good location is better than improving a good property in a poor location
• Don’t bite off more than you can chew - stick to a budget and ask the experts for advice.