Could Your Kitchen End Your House Sale?

Could Your Kitchen End Your House Sale?

By this point, everyone probably knows to make sure a house looks good before a potential buyer comes to view it. For most rooms, it’s enough to make sure that surfaces are clean and everything is tidy. Some rooms, however, need more attention. The bathroom is obviously one. It may, however, be less obvious that your kitchen is another.

The power of smell

Contrary to what is often suggested, it’s actually a bad idea to try to entice home viewers with scent. The problem with this approach is that scents are very personal. This means that even popular scents, like citrus, will be disliked by some people. It would be very unfortunate if a potential buyer was one of those people.

Instead, you should be aiming for a neutral smell, a lack of odour. This can be harder to achieve than it sounds, especially in a kitchen. A kitchen is, of course, a place where you prepare food and some foods smell. Hopefully, it’s obvious that you should be emptying your bins regularly (and cleaning them too). You also need to deal with your appliances.

Cookware store Oliver’s Kitchen ran a survey on the UK’s kitchen cleaning habits and discovered that 48% of people don’t clean their fridge regularly, 69% of people don’t clean their oven regularly and 82% of people don’t clean their microwave regularly. If you’re trying to sell your house, you need to clean all of these appliances properly, along with your hob and freezer.

Don’t make your buyers sick

With all the focus on COVID19, it can be worrying easy to forget that there are many other health and safety issues to consider. The kitchen is a potential hotspot for all kinds of bacteria. Anything a buyer could potentially touch (or brush past) could transfer those bacteria to them. If this makes them ill, it could put them off buying your house.

The key point to note is that cleaning only makes a real difference if your cleaning tools are clean themselves. This may sound like stating the obvious, but the results of the Oliver’s Kitchen survey indicate that the obvious is being widely ignored. For example, 64% of respondents admitted that they didn’t wash/change their kitchen dishcloth/sponge regularly.

Unless you use hygienically clean tools the most you will do is move bacteria from one place to another. This is basically asking for trouble at any time. For completeness, hand-washing is also important, especially in the age of COVID19. If you’ve never learned about proper hand-washing technique, now is a great time to do so.

Keep out uninvited visitors

One of the great advantages of selling a house in winter is that you’re much less likely to need to deal with insects. This includes ants as well as the flying sort. Other kinds of uninvited visitors, however, can stick around over the winter months. In fact, they may find your kitchen a very appealing place to spend at least some of their time.

Even if they’re not around when your visitors appear, they can leave little traces behind. These aren’t exactly a positive sign for house viewers. What’s more, if you know you have a pest issue, then you may have to declare it or risk potential legal issues further down the line. The good news is that even in winter, most pests will stay away unless you encourage them.

The easiest way to encourage unwanted visitors is to make food available to them. This is why kitchens are such likely targets. It, therefore, follows that the easiest way to deal with this is to make sure that all food is always kept stored away unless it is actually being prepped.

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The PM’s Generation Buy

The PM’s Generation Buy

Since 2001, the UK has had no fewer than 16 housing ministers.  Seven held the post under a Labour government.  Nine have held the post under a Conservative government.  None have succeeded in resolving the many issues with the UK’s housing market.  Now it’s Boris Johnson’s turn to try.

A conference to remember

Even though the Conservative party conference is an annual event, the 2020 conference will probably go down in history as an event to remember.  It was the first time the conference had been held virtually.  The reason it was held virtually was due to a global pandemic and, of course, it was the last Conservative party conference before Brexit.

It was therefore entirely understandable that the Prime Minister would use the occasion to try to spread at least some cheer and general positivity.  One of the ways he did this was by setting out a plan to convert the current under 40s from “Generation Rent” to “Generation Buy”.

The Prime Minister’s plan is thin on detail

At present, there is virtually no specific information available about the PM’s intentions.  All he has said is that he intends to make it possible for first-time buyers to buy homes with only a 5% deposit.  This statement in itself is rather odd because it is already possible for them to do so via the existing Help to Buy Equity Loan scheme.

As a quick reminder, this was due to have been closed at the end of March 2021.  It has, however, been officially extended to the end of March 2023.  It will, however, only be available to first-time buyers.  There will also be some adjustments to the level of help available.  The fundamental mechanics of the scheme will, however, remain the same.

To recap, under the existing Help to Buy Equity Loan scheme, buyers put down a 5% deposit.  The government guarantees 20% of the remainder so the buyer only needs a mortgage for the remaining 75%.  The government loan is interest-free for five years.  After this time, the buyer can either buy them out or pay interest on the loan.

Help to Buy Equity Loan Part 2?

If Boris Johnson simply meant to extend the existing Help to Buy Equity Loan scheme without any changes, then presumably he would just have said so.  This suggests that, while the basis of the idea might be the existing Help to Buy Equity Loan scheme, there are going to be some changes to it.

The risks of extending the Help to Buy Equity Loan scheme

Extending the Help to Buy Equity Loan scheme to include completed property might placate those who object to homebuilders profiting from the taxpayer.  It would, however, create additional risks, which could rebound on the taxpayer.

The first risk is the risk of creating a housing bubble, or, at the very least, creating excessive house-price inflation.  If it does, then there are massive risks to everyone, including, possibly especially, the next generation of first-time buyers.

The second risk is the risk of default.  Quite bluntly, the Help to Buy Equity Loan scheme does not make housing more affordable by making it less expensive.  It makes it more affordable by restructuring the financing.  It also puts the taxpayer on the hook for much of the risk of default on that financing.

Your property may be repossessed if you do not keep up repayments on your mortgage.