A YORK estate agent has revealed what buyers and sellers wish they knew before entering the property market as the market in the city surges.

The Stamp Duty holiday and pent up demand following lockdown has caused a boom in York’s property market and a recent survey by Zoopla, revealed what Brits wish they knew before moving home.

Zoopla quizzed more than 2,600 active buyers and sellers and found not staging a property ahead of sale was one of the biggest regrets held by British property sellers. One local estate agent who is familiar with the potential pitfalls facing those new to the property market is Rachel Macpherson, Head of York Residential at leading estate agent, Carter Jonas.

Rachel has 16 years of experience selling property in York and beyond, helping buyers find their dream homes and sellers get the best deal for their properties. Speaking to The York Press, she reveals the challenges that both buyers and sellers can sometimes face when preparing to move, in the hope that the experiences of others will help the process run more smoothly for those about to enter the market.

Rachel explained that one of the biggest buyer oversights is not doing enough homework into the area they are moving to or the property they are buying, which can result in dreaded hidden costs. Zoopla’s national survey found that 39% of Brits were stung by hidden costs when they last moved home, with 30% of respondents stating these costs were more than £1,000. Rachel is keen for buyers to be wary of hidden maintenance costs that come with all properties – including those in ‘walk-in’ condition.

“There are maintenance costs with any house,” Rachel explained. “Even those in so-called ‘walk-in’ condition require upkeep, and you don’t find those things out until you move in. The smaller issues that aren’t documented on a surveyor’s report can still be costly. First-time buyers tend to buy with their heart, so doing extra research on the cost of properties in their desired area at the beginning of the search will hopefully prevent overpaying for a property that isn’t worth it in the long run.”

“It’s also very easy to fall in love with an area without really knowing what it’s like. If you’re relocating, you can very easily establish an idea of the neighbourhood from driving or walking to the property, but you won’t really know what it’s like until you live there. That’s where a really good estate agent comes in to advise and give details on what you’re buying into.”

The majority of home movers quizzed by Zoopla wished they had invested in staging their property before selling it. 53% even went as far as saying that they would have sold their home for more money if they had taken the time to stage it, although. 31% said they didn’t have the additional budget to do so. 84% of respondents agreeing that home staging is worthwhile, it's a real consideration for sellers in a market where Instagram and programmes like Selling Sunset provide buyers with a steady stream of dream homes. Rachel agrees. “First impressions are everything”, she said. “Sellers need to make sure that their home is presented at its best for potential buyers.”

Rachel also advises sellers to have a realistic view about how smooth the property selling process may be.

“Sometimes sellers put a house on the market, and they think it will attract a buyer straight away. There are locations that are very sought-after, but we always tell people that there’s no guarantee about the volume of people who will view the property. Some houses take a bit more time to sell, no matter what the location. Currently there is a surge of competition for properties in great locations and those that require work as people want to buy whilst money is cheap to borrow and interest rates remain low.”

With the average property transaction taking 14 weeks to complete*, moving home is an emotional rollercoaster for nearly two-thirds of Brits according to recent Zoopla data, with 62% saying that they found their previous moves more stressful than they had anticipated. This stress was compounded by the property chain, with just 11% of respondents saying that their experience went smoothly and a further 18% saying that they lost or nearly lost their property purchase as a result.

“There are lots of things within the sales process that are out of the seller’s control,” Rachel explained. “Every seller wants their property to complete as quickly as possible, but when someone’s applying for a mortgage, you’re in the hands of the mortgage company as to how long that will take – the same goes surveyors and solicitors. The process isn’t always as smooth as expected, even with the absence of a chain, but a good agent will be working their magic behind the scenes, trying to keep all aspects of a sale or purchase moving forward.”

Rachel’s final word to both buyers and sellers is to find a good estate agent to do the work for them.

“A really good estate agent will keep track of how a sale is progressing and push things along. Things take time, and if your estate agent isn’t pressing for completion by a certain date then things can take longer than necessary. Estate agents can have a say in things like conveyancing, but a seller can’t, so make sure you trust the estate agent in charge of selling or buying your property. I truly believe that choosing the right estate agent makes the difference in giving confidence to buyers and helping people pay and get the best price for their houses.”