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Wrapping up 2023 here at Mint - with compliments of the HomeOwners Alliance.



Those who are in touch with this blog quite often , will probably be aware that we at Mint, quite often, share and review some of the ideas and guidance from the always innovative and well-informed, HomeOwners Alliance.


well-considered


Our Editor recently spotted online an end of year review from the excellent HOA entitled ‘Wrapping Up 2023’ . This well-considered, online presentation seemed to present thoughts, ideas and suggestions - linked to all kinds of matters - which were very much to the fore during the present year.


take a peek!


There were lots of intriguing issues covered. Explained the HOA team….. “As 2023 comes to an end we look back on what’s happened in the past year – and take a peek at what’s in store for 2024. Certainly a great deal of ground was covered …… check out the very digestible HOA wrap up …..


House prices to hold? 


At the start of 2023 there was speculation of a housing price crash, with some claiming 20% could be wiped off the value of our homes. But, this didn’t happen: and now according to the latest statistics, house prices are down just 2% on average compared to this time last year. Also, it seems, a more positive  house price forecast is predicted for 2024. With a general election on the horizon, there is speculation the Chancellor’s Spring Statement will bring announcements that could well give the housing market a boost.


Firmly a buyer’s market


As we head - happily for many - out of 2023, property leaders, Zoopla has recently reported that homebuyers were negotiating on average £18,000 off asking prices, despite a shortage of homes on the market. This 'buyer’s market' is said to be set to continue. But don't worry, whatever your position we've got  advice for buyers 

and sellers on our website to help you get the best deal. Sellers will want to start with "What price shall I sell my house for?" while buyers will want to know "How to make an offer and negotiate effectively".


Mortgage 'pain 


The chaos of late 2022 - when mortgage rates shot through the roof following the mini-budget soon settled down to be replaced with what felt like ever increasing mortgage rate rises. In the autumn, against a backdrop of falling inflation, we called out the Bank of England’s ‘‘attack on homeowners’ and welcomed their decision to finally halt the punishing hikes to the base rate. Interest rates look to have now peaked at 5.25% and we're hopeful the rates on fixed rate mortgages will continue to fall further during 2024.


Daylight robbery


However, while the mortgage outlook is improving for people taking out new deals, around 1.1 million mortgage borrowers are still on their lender’s Standard Variable Rate, which in many cases is nothing short of daylight robbery, with rates as high as 9.73%. We will continue to highlight this in 2024 and remind consumers of the need to remortgage early. Read more about SVRs 


Leasehold reform


This year saw the long-awaited news that leasehold reforms are on the way with the introduction of the Leasehold and Freehold Reform Bill. While it fell short of abolishing leasehold completely it brings a swathe of improvements to make it cheaper and easier to extend your lease or buy the freehold. Click here to find out how to contribute to the government consultation on ground rents and read more about the reforms


Lots more too


Lots more food for thought too there is highlighted in this well-presented year review covering such as …Shared ownership…..Find a quality build……. New build nightmares…… To check more information further ….go here…….. https://mailchi.mp/hoa/wrapping-up-2023?e=9fc25b4503


on the ball


To sign off this key HOA year summary ‘wrap-up…a message of appreciation …..Thanks to all our readers for your support. We hope we've made buying, selling and owning a home a little easier this year and wish you a Merry Christmas and Happy New Year”.


...and finally…


Excellent stuff from the impressive HOA then …. and to end this whole 2023 wrap-up write up ‘thing’ ….here’s something of a key round-up Mint Builders ‘headliner’ for the past year!


Extend Now - Move Later


We successfully highlighted and promoted our key Extend Now - Move Later guidance message, much needed - we felt - in the face of the flailing state of the Housing Market throughout the past year.


adding ‘sales price’ value


This message of ours - as many will know - was all about how the right home improvement or extension will surely add vital added price sales value to a home for a easier ‘later-on’ home move in the future when the continuing financial pressures, so readily with us in 2023 have hopefully finally eased.


A Happy New Year then?


As the New Year arrives though… we feel our Extend Now - Move Later promotion approach may go on for a while yet. Let’s hope next year though does improve and is indeed better and easier to manage for all than more recent times. Happy New Year - fingers crossed eh?


We at Mint Builders, in Cheltenham in Gloucestershire are, of course, here to help locally with all kinds of questions and ideas and much practical advice too relating to your new home project and plans. We can assist with your 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’, still important for sure as we ticking on into the New Year, Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk


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