Showing posts with label home domination. Show all posts
Showing posts with label home domination. Show all posts

Sunday, 1 January 2012

Star homes: How a rock legend can make a property more valuable

Fancy living down the road from The Beatles’ old flat? Turns out lots of people love to live in rock'n'roll localities and their music connections can add to an area's popularity and value, as Pierre De Villiers discovers

They may have a reputation for wrecking rooms, but when it comes to making homes more desirable, rock stars are in a league of their own.
Mention that a flat or house on the market was once occupied by a music icon, and potential buyers happily queue around the block. “Buyers are often attracted to the idea of living somewhere connected to a celebrity – particularly if it has been their home,” explains Peter Bevan of Sotheby’s International Realty. “Having a famous owner is certainly an immense benefit when promoting it.”

In 2008 Sotheby’s had the opportunity to promote one of the most famous flats in the world. Located on the fourth floor at 57 Green Street in Mayfair, Flat L was occupied by The Beatles in 1963 – the only time the Fab Four all lived together. While the home was sold for a large sum in 2009, the building’s status as an important part of Beatles history has made other flats at 57 Green Street hot property.
“The fact that The Beatles lived in the building is such an interesting piece of history,” says Charles Lloyd of Savills Mayfair who is looking after the sale of a two-bedroom flat at 57 Green Street. “It’s a bonus and a point of interest that buyers can tell their friends about.”


A property made famous by musicians not only boosts sales in the building but gives the surrounding area a lift as well. For rock and pop fans, purchasing property in Mayfair is like buying a stairway to heaven with Jimi Hendrix having lived at 23 Brook Street and the Bee Gees at 67 Brook Street.
“If a rock or pop star is connected to an area it can enhance its prestige,” says Bevan. “Locations such as Mayfair have long lasting star appeal that supports its intrinsic desirability.”

The fact that Freddie Mercury lived at 1 Logan Place in Kensington has certainly had a positive knock-on effect on other properties in the area. “We recently sold the property right next to 1 Logan Place and we had a lot of potential buyers asking about the Freddie Mercury house,” says David Terrar of Bective Leslie Marsh. “People found it fascinating that such a big star lived next door and would certainly pay top dollar for a place nearby.”

With so many people enamoured with star musician homes, many estate agents are happy to tell potential buyers where a property fits into London’s rich music history.

Frank Harris estate agents highlight the fact that Bob Marley lived at 34 Ridgmount Gardens in Bloomsbury, where they are overseeing the sale of a four-bedroom flat, while the link between Cheyne Walk in Chelsea and The Rolling Stones is played up by Chasemore Property. “I’m really keen to tell people about the role that Cheyne Walk played in the lives of The Rolling Stones,” says Suja Thomas of Chasemore Property, who promotes properties in a street nicknamed ‘Rolling Stone Row’ after Mick Jagger, Keith Richards and Ronnie Wood all lived there at some stage. “It’s nice to think you can own a property in a place that was so liked by a famous rock band. It makes the area seem even more special than it already is.”

Thursday, 29 December 2011

How to: work out if you're better renting or buying

We talk to people who have tried (and succeded) to get on to the property ladder aided by a decent deposit. How much would you need?

 
Caroline Smith and partner Dan Goodwin, both 27, have been renting together for 18 months, but have now seized the moment to get on the housing ladder, buying a one-bedroom flat in Guildford, Surrey.
They join the ranks of rising numbers of people applying for a mortgage – with more of us on the move now the impact of recession is easing.
"A lot of people think that it's a landmark event, but it just feels like we've entered into a more complex rental agreement," she explains.
"We started off on comparison websites, but we also went to banks' sites and played around with their mortgage calculators.”
Caroline explains that, after seeking help from mortgage advisors, she and Dan, both web analysts, opted for a repayment loan fixed at 5.74%. "We spoke to a loans advisor who said that our deposit fell at about 12%, and she recommended that we try to get 15% so that we could get the rates down a little bit.
"We went with a three-year fix because two years didn't seem very long - but five years seemed a bit like 'whoah!'; a lot could happen in five years. We chose to fix because it was more important to us to have peace of mind; knowing what was going out of our account each month."
But Adam Hassan, from Brighton, also recently stepped onto the housing ladder, has a different experience. "My partner had an inheritance so we had a good deposit. She paid 50% up-front, so that easily allowed us to get the best mortgage rates.
"We got 2.2%, and opted for an interest-only tracker loan. In the current market I don't think the rate is going to go up too high. At this point there's no point trying to fix because lenders put an extra one or two % on it.
"I chose interest-only because although I will make overpayments to repay the loan, if times get tough I can just pay less - the flexibility is  fantastic."
Shop around: Some lenders are more competitive than others and the rates on offer vary dramatically. Look at several lenders' rates, and consider a mortgage advisor if you're struggling to understand the details.
Beware of hidden costs: Look beyond the interest rate and consider any setup and termination costs. For flexibility, check whether features such as payment holidays or overpayments are available.
Moving home is expensive: Remember to budget for essential home improvements, home insurance, for legal fees and the cost of moving itself. The 2010 budget introduced Stamp Duty relief for first-time buyers choosing a property worth up to £250,000 – a welcome relief.
Don't rush: It's easy to feel pressurised when buying a home, but a mortgage is one of the most important financial decisions you can make. It's essential that you understand what you're agreeing to and that you can afford it - now and in the future.

Property shortage pushes rents up

If you're one of the millions of people who currently rent their homes from a landlord, you may have noticed costs have been creeping up. Read on to find out what's going on in the market

 
The FindaProperty rental index last year showed that overall asking prices rose across the UK between June and September 2010 and that the average rent is now the highest it’s been since November 2008.
Rental prices have been steadily rising since January with landlords now asking £47 more a month than at the start of the year – an increase of 5.8 per cent.
There are also fewer rentals out there, with the FindaProperty rental index reporting that stock levels fell by 14.5 per cent between June and September 2010.
Add to this the findings of the latest Lettings Survey from Royal Institution of Chartered Surveyors (RICS), which reveals that the supply of property to rent fell for the third consecutive quarter in the three months to August 2010, and things are looking, decidedly expensive for renters.
So while it’s costing renters more per calendar month than at any time since November 2008, it’s good news for landlords whose rental yields are up on the previous quarter.
The RICs report also found 26 per cent more chartered surveyors reported a fall rather than a rise in the number of new landlord instructions, up from 18 per cent in the first quarter of the year.
Although the weather may have been a factor in this, it is more likely that the upturn in the housing market has tempted many of the accidental landlords away from the rental market, says RICS.
So could this mean an end to the falling values that have been a feature of the rental market since autumn 2008?
There were certainly fewer surveyors reporting declines in the latest quarter: the net balance of those reporting rising rather than falling rents was zero, an improvement on the five previous quarters of negative readings.
And a net balance of 33 per cent of surveyors believed that rents would rise over the coming quarter, up from 22 per cent in the previous report.
Surveyors were also positive about rental demand, with 16 per cent more respondents reporting a rise rather than a fall this quarter.
RICS spokesperson Jeremy Leaf commented: "The RICS housing survey has seen a steady increase in the number of new instructions coming on to the market over the past few months, whilst simultaneously we see with this survey that the number of properties available to rent has decreased.
"This is a clear sign that the accidental landlords are returning to the sales market.
"If demand remains strong, which it is likely to as many first-time buyers are still finding themselves priced out of the housing market, then rents should continue to rise as would be tenants compete for fewer properties."

Wednesday, 28 December 2011

Britain’s most persistent first-time buyers: Rebecca Trimble

First-time buyer Rebecca Trimble moved back in with her parents to help save, but it was a shared equity scheme that gave her and her partner the extra push they needed to get on the property ladder 

Rebecca Trimble may have moved into her first home just five weeks after first viewing it, but her battle to get on the property ladder was a much longer, more difficult, journey.
So desperately did Trimble, 24 and her partner Kieren Travers, 24, want to buy their first home that that they moved in with Trimble’s parents so they could concentrate on saving a deposit. 
Despite these efforts, the couple, both sales administrators in Manchester, still couldn’t find any homes they could afford.
“We’d been saving for ages,” Trimble said. “But everything we looked at was too expensive for us as first-time buyers. We just kept saving and put our plans on hold.”
Still hopeful of one day realising their dream of home ownership, the couple last year viewed Arley’s Chanters Green development in Atherton, near Manchester, where they fell in love with a three bedroom home with a garden, which was on the market for £127,000.
Trimble says she was thrilled when the developer later telephoned and told her about a shared equity scheme for which the couple were eligible and which required them to provide a five per cent deposit.

Under the agreement, the couple purchased 80 per cent of the property, while the developer retained the final 20 per cent, which can be purchased over an arranged period or paid back upon sale of the property.
 “We really loved the house but we wouldn’t have been able to get a mortgage for the full amount or a deposit for the full amount, so the shared equity scheme worked well for us.”
The couple found the sale process hassle-free and lightening fast. “We were so lucky because we were able to move in within five weeks of when we first came to look at the home. It all happened really quick,” she says.
“From the first day when we came looking, we reserved the house, and then the developer put us in touch with a financial advisor and they looked after everything for us. They (the developer) even advised us of a solicitor we could deal with.”
The couple are now settled  into their new home and couldn’t be happier .“I can’t describe it, it’s just brilliant,” Trimble said. “We have been together quite a while so just to have our own place is amazing.”

Star homes: Why the rich and famous move to the Cotswolds

What do Kate Moss, Liz Hurley, Jeremy Clarkson and Harry Potter have in common? It’s the Cotswolds, of course, which has long been a magnet for those seeking a celebrity lifestyle with an English twist

 

It’s the Beverly Hills of the UK, where the rich and famous live within a 90-minute’s limo ride of central London but with enough countryside and privacy to shelter from the paparazzi when the inevitable scandal breaks. Yes, welcome to the Cotswolds.
To those who don’t know Lily Allen from Lily Savage, the Cotswolds stretches 90 miles by 25 miles and is England’s largest Area of Outstanding Natural Beauty. But to celebrity-spotters this area, from Cirencester and Cheltenham in the west to Oxford and Banbury in the east, has more stars than the Milky Way.

So why do celebrities prefer green wellies to red carpets?
“The Cotswolds is far enough away from London to be ‘proper’ country but close enough to be accessible,” explains George Barkes of Stacks Property Search, a buying agency helping stars find homes in the Cotswolds. “There’s plenty of appropriate property to be found and celebrities don’t feel their homes and wealth stand out”
“There are gastro pubs, Daylesford organics, two polo grounds, and Cirencester has a good selection of one-off shops,” says Frank Speir of Prime Purchase, another buying agency. “Well known people are ten-a-penny which means local residents are unfazed by celebrities”
The Cotswolds’ stardust doesn’t just fall outside celebrities’ front doors - the whole region has become a favourite with TV show and film makers.
The Harry Potter movies were shot there, as was The Other Boleyn Girl with Scarlett Johansson, and Bridget Jones’ Diary and Die Another Day. Most of the Inspector Morse country scenes outside of Oxford feature the Cotswolds, too.
Unsurprisingly, estate agents have plenty of celebrity-friendly homes on sale.
There is Shipton Sollar, an eight bedroom 17th century mansion with a party barn (a celeb must) and 35 acres of land for £3.25m. Or try the five bedroom Wells Farmhouse  for £2.5m with its separate two bedroom annexe, gym and games area - ideal for wrap parties after the film.
Stars who call the Cotswolds home: 
• Dom Jolly - Quenington
• Jemima Khan - Kiddington
• Damian Hurst - Toddington
• Liz Hurley - Barnsley
• Kate Moss - Little Faringdon
• Anne Robinson - Gloucestershire
• Kate Winslet – Westcote
• Jeremy Clarkson – Chipping Norton
• Alex James - Kingham
• Lily Allen - Overtown
• Stella McCartney - Pershore
• J K Rowling - Chipping Sodbury
• Joanna Trollope - Minchinhampton
• Jilly Cooper - Bisley
• Lawrence Llewellyn-Bowen - Cirencester

Words: Graham Norwood

Sunday, 20 November 2011

Laurence Llewelyn-Bowen’s plan for home domination

Known for his over-the-top and dandy style, designer Laurence Llewelyn-Bowen tells Samantha Baden that a challenging property market will reinforce our emotional connections with home


Flamboyant designer Laurence Llewelyn-BowenLaurence Llewelyn-Bowen says a challenging property market has given the interiors world a healthy shot in the arm.
The 46-year-old who made his name on BBC1’s Changing Rooms in the 90s, says there’s a lot of talk about doom and gloom in the world of buying and selling property  right now, but really, a little realism would go a long way.

“Actually, we are in many ways re-establishing the right kind of level of interest,” the TV star, columnist and designer says. “There was too much over heating in the property market, which meant that people were purely seeing their homes as a financial investment rather than an emotional investment and that’s where I think it went wrong. 

“Now that the market has cooled, I think it’s forcing the country to re-engage with what it feels is the key to its relationship with homes. And our relationship with home is not just about a balance slip, it’s really about the creation of an environment that reflects a personality.”

Interiors are back
And personality is something Llewelyn-Bowen – a self-styled modern dandy - knows a thing or two about.  “Throughout the hottest stage of the market, some estate agents  were encouraging households to underplay their interior decorations,” he says. “At that time, my name was a dirty word. I think that’s over now and I am going to have to start rubbing off on the planet again,” the designer says with a laugh.

But the stay-put-and-improve approach isn’t just about feathering your nest, says Llewelyn-Bowen. Rather its about finding a meaningful way to reflect who you are though your home.

“I think people are suddenly realising that they may not be able to sell it and make a fortune, which means they’re then asking themselves - do I want to sell it at all? And if I don’t want to sell it, then perhaps it’s something I want to develop a much more powerful relationship with by creating it in my own image.” 

A Cotswolds home
And this is a topic on which Llewelyn-Bowen has more than a little personal experience. Together with wife Jackie and children Cecile and Hermione, he’s been living a very chic life indeed in the 17th Century manor they bought for £1.3m five years ago and now call home in the Cotswold’s village of Siddington .

Wife Jackie found the home while the designer was filming in India. “She saw this one and asked me if she could buy it. I said, yeah of course and buy something pretty with the change,” he deadpans.

But in all seriousness, Llewelyn-Bowen says he’s happy to be the interior designer of their home so long as he’s given a brief from the client, "who in this particular case happens to be the 'missus". 

“And I think that’s very important – I think one partner often has a much more emotional relationship with the house than the other and I know have a diagnostic relationship with houses.” 

Designs for all
In that vein, he'll often use the interiors of their country pile as a showroom for what he's working on. “I want to live with my designs, I design things for a reason. The fact that they’re available in Littlewoods or B&Q is irrelevant. I don’t sell stuff to the mass market and then only buy the posh stuff. I think we are the only Grade II listed Cotswold manor house with B&Q wallpaper, but I’m very proud of that.” 

He’s also proud of the fact that The Lady magazine - that bastion of country posh - recently referred to his new kitchen as having had an overdose of Berocca.
“I rather like getting criticism from The Lady magazine," Llewelyn-Bowen cackles. "It’s very rare and it’s something I am enormously proud of.”

"By the way, it’s orange and pink", he adds nonchalantly as though that somehow justified the fuss.

Laurence Llewelyn-Bowen is a celebrity ambassador at The Ideal Home Show at Christmas, which is running from November 16 to 20, 2011, at London’s Earls Court. It's open daily from 10am-6pm and until 9pm on Thursday.