Empty homes in certain parts of the UK are reaching epidemic proportions, and Grimsby is high on the list of local councils having to deal with the fall out of the rising level of vacant properties.
There are many reasons why a homeowner may need to leave their house; they may need to relocate for work purposes or be closer to family, elderly people may need to move to residential care homes, or debt has forced people to leave their property.
In most cases where homeowners need to move and need a fast house sell then they can sell their home and use the proceeds to buy another in their new location and move forward with their lives. However, in areas where the property market is suppressed, they can often find their homes standing empty for months or even years while waiting for a buyer.
This waiting around can cause a lot of stress and financial hardship for those who Need to sell house fast. Not only will debts mount up with a vacant property, but it’s likely that the property will begin to need repairs the longer it is left standing unoccupied. In addition, properties which have been left vacant for long periods of time become even harder to sell and are likely to be targeted by squatters, thieves or vandals.
To compound matters for homeowners stuck in this situation, some councils are now charging additional council tax for properties left empty in an attempt to help solve the current housing crisis. North East Lincolnshire Council which Grimsby is in. Is now threatening homeowners who leave their properties vacant for more than two years with a 50% increase in council tax in a bid to tackle the issue of almost 3,000 empty houses in the region. It may even issue compulsory purchase orders for some empty homes which could end up being many thousands of pounds under the property’s actual value, leaving the owners severely out of pocket.
There is a way out of this Catch-22 situation. For those who Need a fast house sell but are not confident that their property will sell the conventional way, they can bypass the estate agent, Property buying companies and stress of opening their home night and day to potential viewers. Companies that buy houses fast such as buyingpropertiesfast.com can offer a quick solution which will eliminate the problem of leaving your home empty and allow you to unlock the capital in your property.
A property is considered long-term vacant if it has been left unoccupied for more than six months. The value of the house or flat is likely to decrease the longer it has been left empty and is susceptible to damage and wear and tear. This not only affects the selling price of the property but also negatively affects the value of the properties in the surrounding area and contributes towards the degeneration of an area – something which local councils are obviously keen to discourage for the sake of others living in the region.
Compulsory purchases orders and increases in council tax are considered ways to help to deal with the worrying trend, aiming to raise revenue for local councils to help those in need of housing and free up available properties for rental purposes. While this may be good news for those living in areas with high levels of vacant properties, it could be devastating news for the homeowners stuck in the situation.