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  • Neil Harrison

What’s best  then as tough financial pressures ‘home’ into view this Winter? Try to move … ...

Updated: May 29, 2023

So here we are …. in the midst of all kinds of money pressures as Winter edges nearer. So, what’s the plan at your home? ….Make a home move anyway ….and cash in on the rising prices which have built up of late?……Or is it best to take a ‘safety first’ longer term view… and stay put for now?

As I see it, our ‘still move later’ attitude here at Mint, backed by the added value achieved through modest improvement, does offer something of a ‘play it safe’ approach best can, in the face of the the clouds of financial uncertainty on the horizon well into next year. 

more guidance

The team here at Mint have been spotting various online telling and testing  predictions reference the housing market outlook … A leading Sunday media speculated whether…  house prices are on a market slowdown …or a seasonal slump’ ….and there were predictions of a 14% drop off  in home prices over the next year in other media quarters …The ever informative HomeOwners Alliance recently cited that the  Zoopla team organisation highlighted that  …..”the average UK home had risen by £48 a day since February 2020 - that' on average has meant a ‘tot up’ to almost £38,000!!  

There is more telling HOA information here too to perhaps help that vital ‘move or not’ decision making facing some homeowners  … use our free online valuation tool Perhaps this information just might help you decide what really is for the best!

project activity plans

We have been checking and testing the marketplace in terms of home extension project activity plans, of course and we  noted further chat and information online at the HOA. They indicated that … double digit inflation and rising interest rates add pressure to household budgets, Also, House prices will remain underpinned by a shortage of homes for sale, and price growth is likely to continue to slow!  

easing

The HOA also highlighted online views from the influential RICS - the Royal Institution of Chartered Surveyors …… They suggested that  …RICS UK Residential Survey results are indicative of a continued easing in sales market activity, with sales remaining in modestly negative territory…. 

momentum

Higher interest rates and a weakening economic landscape are widely cited by contributors to be causing this softening in momentum, although, they add, it’s important to note that the survey sample was largely gathered prior to the Bank of England’s latest 50 basis point rate hike.

contradiction

It is a fact that for sure right now is a VERY contradictory time in ALL respects  - and this ‘contradiction’ plus the many cost of living, energy  and other financial pressures looming, seem to us to be suggesting that THE telling ‘best thought’ is surely NOT to try and make a move now in face of the financial clouds coming into view heading into Winter and the New Year ahead.

add value

Instead…we see it as a case of ‘stay put’….add value to your home with an extension or renovation if you can… and still move..BUT do so later, when hopefully the confusing financial pressures clarify and things are later on, a little more certain and less erratic. All food for thought ..but then there are so many thoughts out there right now…..that’s for sure!

more opinions

For more on this challenging…so changeable ‘stay now.. add value …and then consider a move  later’  decision… .check here for more professional views and opinions to aid your decision making perhaps… https://hoa.org.uk/services/house-price-watch/house-price-index/?

add value

We still say in the face of the overall financial pressures ..it seems surelt best is to add value first, as appropriate, with a renovation or extension project and THEN - next Spring - check out again how feasible a home move may have become. Good luck with whatever you decide!

We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas relating to all your potential ‘added value’ new home extensions or renovation ideas and plans whether for Autumn this year or well on into 2023 . We can also assist with all your home renovation priority planning and project organisation decisions 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 for the stormy times ahead. Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk

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