Break the Chain: Are You Relocating Home? 3 Things You Should Know

September 26, 2022

Break the Chain: Are You Relocating Home to Medway? 3 Things You Should Know

Our Guide on How to Break the Chain when moving Home

The UK is notoriously long-winded when it comes to property. Whether you are buying, selling, building, renting either land, property or deals – every aspect is tedious.

We understand that the property processes can be long and tiring, but we want to offer you a possible solution.

Here are the 3 things you should know and consider when moving house:

Time taken

Number 1. Let’s bear the data in mind. In the UK, the process of renting a property from viewing to moving in is an average of 29-days. For both landlord and tenant, 1 month is a significant amount of time. From a selling/buying perspective; the amount of time it takes to buy/sell a property from listing to completion can take anywhere from 3-6 months. Again, this is a significant amount of time for both buyer and seller. Time we would rather have to continue living our lives.

For the purpose of understanding the magnitude of this time; the USA takes on average 9-14 days to rent a property and 4 weeks to 6 months to sell. A possible 4 weeks!

Of course, we are not the USA🇺🇸, we are in the UK and we have to work with what we have. Yes, it may take time to make the home move we desire – but let us turn potential adversity into advantage. 💪

Post-pandemic we expect things to move faster. We may not be able to move the goalposts of the processes, but we do have some things under our control. One aspect that holds a large amount of risk and uncertainty to the timing of our desired move is the property chain.

The Chain

A property chain is a line of buyers and sellers linked together because their transactions depend on each other. Any delays encountered within the chain will ultimately delay the other transactions. When you’re buying a property, you’re becoming another link in a property chain. Being a part of a chain can become problematic if the other sales involved are delayed or fall through.

Property chains complicate things, and if you can avoid it you definitely should as it will mean a less stressful and easier process on a whole.

That being said, unfortunately most of the time property chains are an unavoidable part of buying and selling a home through a traditional method, so you’re unlikely to be able to avoid buying in a chain.

However, in 2022, a record number of buyers purchased homes chain-free, research suggests. Four in five (80%) of sellers accepted an offer from a chain-free buyer where they matched an offer from somebody who had a property to sell. On average, sellers accepted an offer of 2.5% less from a chain-free buyer as a means of smoothing a sale through.

Additionally, chain-free buyers took an average of 91 days to exchange, 20 days quicker than a buyer with a property to sell.

But how do we become chain-free?

Break the chain: become chain-free

One way you can become chain-free is to sell your property before buying your new one, this is called break the chain. This means the vendor (you) does not need to buy another property when they’re selling their old one or vice versa. This means that you are not waiting on anyone else before completing the transaction and thus, are not in a property chain. For example, first-time buyers are chain-free.

We can give you the option to go chain-free. You have the ability to choose to step outside of the property chain. Take the option and break the chain!↙️

If you decide to sell your current home, you will become a more attractive buyer (whether mid-deal or pre-deal). Of course, you will still need a temporary home in the meantime. That’s where we come in.

Relocating home to Medway: Stay with Us

We have 1- and 2-bedroom apartments. Whether you are a couple or a family we have apartments suitable for you. Free parking at all our apartments – in our Arden Street apartments we have a secure gated car park 🔐. We have coded access 🔢, underfloor heating ♨️, unlimited wifi 🌐 plus every booking comes with a weekly clean by our professional cleaners 🧼

We offer so much more, please feel free to get in touch at info@addressapartments.com for more information regarding the apartments. We are happy to be of assistance. Dependant on availability we can even offer a viewing as so you can make a more informed decision. You can check our apartments here also.

Break the chain by staying with Address Apartments when you are relocating home to Medway, so that you feel calm and relaxed and prepared for your new abode. 🏡

At Address Apartments, we believe your accommodation should be more than just a place to sleep.

That’s why we offer thoughtfully designed spaces with all the comforts of home, plus the added benefit of exceptional service. Book now to enjoy a stay that goes beyond the ordinary and leaves you wanting to return.