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  • Neil Harrison

Outlook ‘challenging’ reference mortgage rates and higher home prices… both for the ‘near’ AND ‘n...

Updated: May 18, 2023

Spotted online recently was a headline, which certainly caught the eye and got us all thinking at Mint. Experts speculated that ‘the housing market right now, needed to brace itself for higher mortgage rates with UK house prices apparently heading for a fall of up to 35 per cent cent!

On top of that, was a understandably obvious following thought, that mortgage borrowers could be up against it when it comes  to managing higher-priced home loans for this year ahead. Thinking the same thoughts it seems was one of Britain’s top bank bosses…

key thought

This - it goes without saying is not the news we want to hear …. and again, as we have highlighted here on this blog, the outlook right now seems to bring to the fore the key thought that if you need more room at home - looking into the year ahead - THE answer seems to be  perhaps to consider a home extension or renovation ….and for now put off the ‘hazard’ of making a ’full-on’ home move. 

our ‘vibe’

Readers to this blog will have picked up ‘the vibe’ from the team at Mint that the key ‘best move’ for 2023 surely seems to be a simple ‘stay put’.  When it comes to your home this year …..we suggest you go for the best  ‘safety first’ advantages of extending or renovating your to improve things at home and not take a chance on s ‘full on’ home move! It’s tough balancing-up vital, at the moment somewhat confusing decisions, that’s for sure! 

sure-footed option

Extending or renovating still  seems to be a safer - and it seems, a more sure footed option - for many homeowners right now!  There IS another doubly good reason why to ‘stay put’ is best, because, of course, if you can successfully renovate or extend for the near future, you WILL surely add value to your home, thus aiding probably a surer longer-term future for the value of your home when you want to sell it and move on!

anticipation

As reported here just a short while ago, doing this will surely benefit your overall position and give the current rumbustious property outlook a vital time to settle, in anticipation of a possibly new improved outlook emerging later. 

understand

We at Mint very much ‘keep tabs’ reference on all the housing market pressures, and we see it as a tough situation to engage with effectively. We are, of course, only too pleased to help guide and reassure you reference improving and extending for this year if indeed you are indeed under pressure for more space. Getting improvements done means you can just stay put in the face of the current difficult outlook and move to best advantage later.

vital added value

Doing the most modest improvement can add vital worthwhile price value to your home to aid the future decisions you wish to make. Extend and renovate and stay put as you are, and carefully  research options for say Spring next year, when more certain project pricing ‘trends’ should have emerged and clarified. 

right approaches

As we said here previously ….Consider first …..check ..research …and be confident. Review and focus on which REALLY are the ‘moves’ to make on your home during the rest of the year ahead ….and indeed on into next year too perhaps!

best-shelved

Many moving home decisions are best shelved now towards the bottom of your life planning. Pause for a good few months - even until next year perhaps  …that looks best, for sure! As already said - if under space pressure at home -  a renovation or extension project right now seems less hazardous …and adds vital value…. best when the housing market outlook becomes lighter, brighter and more manageable and hopefully indeed less uncertain. 

challenging

We say again here … here’s to getting that very best of luck’  for the immediate future …luck we all SO need for what will be a challenging -  and for sure changeable and hard to predict 2023 ….and possibly an equally challenging 2024 too! 

We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas relating to  your new home extension or renovation ideas and plans for these challenging times ….moving on through 2023 and into 2024 too . We can assist with your  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, vital in these challenging times . Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk

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