How can families move up the property ladder?

Many couples come to a point in their lives when it is time to move into a larger property so often ask me where should they move to next?

They generally want to move from a smaller 3 bed house, often with a third bedroom that is barely more than a box room, to a 4 bed house with a larger garden for the children to play in.

Their budget will often depend upon their current circumstances of course. But most have experienced some capital growth in recent years and may have a second property to sell in order to realise funds, having lived there before they married.

On the assumption that they want to stay in the local area (80% of people moving are thought to stay in the same area) especially if they have children in local schools and that they currently live in a 3 bed terraced or semi-detached property the sales price is likely to be £450,000 compared to a median purchase price of £580,000 for a 4 bed terraced or semi-detached house; and £750,000 for a 4 bed semi or detached property in the same area. Moving up to 5 miles out of town will reduce the price for a 4 bed semi or detached property to around £650,000.

Alternatively they could extend their current property, as many property owners are doing to save the cost of moving expenses.

Alternatively they could consult a property agent with knowledge of the current state of the local property market and opportunities to view a property before it is listed on the property portals, in order to realise their property dream.

Discover how much your property is worth

If you would like to have a chat about property prices in Guildford or to discover where and how you can find your next residential or investment property, before it goes onto the portals, call 01483 320207 or email richard.hodgson@newman.uk.com