Posts Tagged ‘home up’

Extending into the Future

Saturday, April 12th, 2014

home upThe property market is on the move once again. It has been a few years in coming and it is reflected in many ways. Property prices are rising strongly in London and to a slightly lesser extent in the South East. Every other region of the UK is seeing growth at different levels. Some people are taking the opportunity to move, others are entering the market for the first time. The Government’s ‘Right to Buy’ Scheme for first-time buyers has provided the boost at the lower end of the ladder that will strengthen demand at all levels. A third sector is preferring to extend or renovate their extending homes. That has meant that companies providing the products needed for such work are seeing increased demand.

Funding approvals
Home improvements do not always need substantial funding. While mortgages are available there is no doubt that applicants need to undergo a far more stringent test that in years gone by. Lenders now appear to want to know everything about an applicant’s lifestyle, future aims and even retirement provisions and plans. That means longer interviews and more paperwork. It is something that financial institutions have been working on for a few years. They cannot afford a return to the days of easy credit and raging price inflation. That resulted in defaults, repossession and negative equity.

Extend or renovate
It may mean there is a brake put on property inflation leading to even more people investing in their current homes rather than moving. If you own a property on a reasonable sized plot, then it is worth thinking about extending if you need more room. Perhaps you will decide to spread out, an extra downstairs room with sliding patio doors out into the garden maybe?

Open your home up
There are always advantages to staying in a familiar neighbourhood. There are plenty of people happy to provide advice on what you can achieve within planning regulations. There are also companies that can provide everything you need to complete the project, companies like www.patiomaster.co.uk. You can transform your home by opening it up. One obvious benefit is getting more light into your house every season of the year. You will be able to perhaps put greenery into the extension during the winter when your garden is largely asleep and enjoy your back garden even more on warm sunny days.

If you are going to extend, you are best advised to do it when the weather has a good chance of being decent. No one can guarantee that it won’t rain, even in the middle of a UK summer. As long as you have the guarantee of good workmanship that should be enough. You can sit tight, improve your asset and enjoy familiar surroundings for years to come.