It seems like the property market has swung the pendulum round to where homeowners are deciding to ‘improve rather than move’ once again. The FT recently outlined locations in the UK where this is most prevalent and it’s no surprise that London has a few hot spots for staying put and updating properties rather than upping sticks and moving. Property prices in the capital are stagnant at best after a decline in values since the Brexit vote according to leading mortgage lenders. With other parts of the UK further from the capital still playing catch up with London property prices, home owners throughout the UK seek to raise their quality of life by adding to their existing homes rather suffer the expense of moving.
Which property updates are most popular
There are many home improvements, which can find themselves high on your property to do list. New kitchens, extensions and loft conversions are rightly popular but these all take a pretty sizeable investment. Other property updates, which can really transform a house tend to be semi-permanent yet cost far less than these big ticket changes. Updating window coverings with plantation shutters can make a big difference to a room, especially when the room is going to be decorated in the first instance. Adding fresh custom made shutters can really bring a room to life and doesn’t have to cost a lot. Some companies offer price matching and online shoppers have no excuses for comparing products, warranties and other factors which can provide products at better than cheap prices.
Making your home appear more expensive or certainly more livable through careful updates adds both value and comfort when property prices stutter. Riding out market uncertainty makes a lot of sense for many homeowners especially when some updates can be done yourself. DIY projects are ever popular with built in storage and decorating being amongst the most popular according to RD. Once again being able to shop around for materials is a real boon for the public. Research can be done online for sourcing anything from paints to wood and can save a small fortune if a lot of updates are done at once.
Improving a home is often a great way to breathe life into a property whilst also working to a budget. With property prices cycling through their ups and downs if moving can be avoided many families do benefit from stalling this decision. Short term quality of life with all of the needs of families can be taken into account and hopefully property prices stablise within a year or two and everything gets back onto that upwards cycle once again!