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Bad news for the housing market looms larger…..so what’s YOUR best option?


Since the dreaded COVID crisis loomed into view….we’ve had the energy crisis ….then there was the cost of living crisis… and now it’s the housing market that looks like it’s well and truly wavering ….. and very much ‘on the wobble’….


mortgages rising


Mortgage rates are revved up and look ready to soar on upwards further perhaps - highest levels for a good few years already and talk of a rise in mortgage payments of right up to £500 for some…..that’s a shocker eh?


re-financing


This could effect thousands of households, as the months tick by, and all re-financing now and going forward more immediately face hundreds of pounds extra to pay monthly …that is the ‘chit chat’ out there in the market at the moment.


key message


During these difficult times, we at Mint Builders, have energetically pressed on with our Extend Now and Move Later initiative… and we reckon this key message - must surely STILL be very relevant and very much to the fore in some people’s minds too. It may well remain a truly telling consideration for a longish time ahead to come…time and the further financial outlook will tell.


add price value


Our ‘Extend Now’ initiative was, of course, all about putting off a home move for now… and extending your property instead - thus adding essential home price value. A home project for more needed space will add and value - if done right - can surely make a ‘later on’ home move for you and yours, perhaps at least a little easier, more affordable and do-able than trying to move home.


real concern


Those who know and understand the market better than we at Mint, suggest REAL concern is looming large and there is continuing debate as to where indeed the market pressures will eventually get to.


falling…..falling


Sales this year sales are falling too and there’s talk of house price falling going forward , but who knows by how much? The talk is that without interventions, there will be repossessions and negative equity. All sobering stuff indeed!


so many reasons


So to summarise perhaps …all this surely does suggest that there are so so many reasons not to move unless you have to….and, if more space is what your move is all about - then we would suggest that to extend or renovate your current home - if you so need a bit more space - looks less hazardous right now and will - if done right - add vital house price value too… thus helping to make some kind of ‘home move’ much more do-able and feasible in the ‘later on’ future.


Extend Now - Move Later


Extend now - Move Later (as we at Mint have been highlighting), in the face of all the uncertainties and contradictions above, surely has an air of more ‘safety first’ about it than so much of the other housing market commentary currently ‘blowing in the wind’ …

try and guess?


We all know the climate is not a good one in which to try and guess, or even calculate, what eventually will occur. So, perhaps, due to all the doubt and uncertainty - and we all are in doubt - to an extent at least - it seems, perhaps best now to ‘do nowt’..if you possibly can?


tough call


Of course, consider what’s best for YOU - and yes, whatever you do is something of a tough call - that’s for sure! Good luck - whatever your plans might be!


We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas relating to your new home project and plans. We can assist with your 2023 and 2024 home renovation priority planning and project organisation of all kinds.

Feel free to request our project planning and quotation visit to refurbish or extend your home for more energy saving ‘liveability’ and vital increased future protective money-making ‘added sales value’, never more vital than now. Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk


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