2019 May Be The Year Of ‘Improving Not Moving’ For Homeowners
With the uncertainty of Brexit lingering over the property market, it’s no wonder homeowners are reluctant to put their house up for sale. No one knows for sure what may happen to the property market once the UK does finally leave the EU in March. One prediction for this year, though, is that it will be a year of improving and not moving for property owners.
The Brexit Affect
Since the announcement of Brexit, the property market has flourished – for the super wealthy, that is. Astonishingly, the sale of homes worth over £10m in the UK more than tripled after June 2016. The mega-rich were buying up property in London at a miraculous rate thanks to the weakened pound. For those normal homeowners, the property market has essentially been at a standstill for the past two years.
What Are Beneficial Home Improvements?
Due to the fact that families are staying put, more emphasis has been on what amendments can be made to the property to make it the best it can be. Growing families are extending, older properties are undergoing complete contemporary makeovers, and many are looking into conservatory’s as a way to expand. Some of the best ways you can improve your home this year are:
Extend into the attic – Attic conversions are one of the most common ways people improve their homes. If you’re looking to gain an extra bedroom or bathroom, this is highly regarded as one of the easiest ways. This is because the structure is already there, and there are no extra walls that need to be built. It’s also cost-effective compared to extending.
Build an outbuilding – 2019 is set to be the year of the “granny annex”. Outbuildings erected with the sole purpose of being another mini-home. The chartered surveyors Manchester commonly use are able to evaluate the viability of the building. Whether it’s just an extra room or whole annex complete with small kitchen and bathroom, an outbuilding can add great value to your home.
Rip Out The Kitchen – Kitchens can be one of the first things to become outdated in the home. Therefore, they prove worthy investments, particularly for homeowners who may wish to sell in the near future. The kitchen is often the hub or the home, so it tends to be on a buyer’s list of top priorities.
Add Double Glazing – It may seem surprising, but double glazing can add considerable value to the home. Not only can it improve the appearance of tired windows, but it can also help to keep the house warm during winter. Before trying double glazing to add value, you should consider the age and style of the property.
Knock Through A Wall – Many big property management companies in the UK like Roger Hannah, Savills and Mainstay, suggest that knocking through a wall can create more useable space in your home. If carried out correctly, it can appeal to more buyers, especially those who like open-plan spaces.
Looking to the Future
It’s expected that 2019 will be an incredibly slow year for growth in the property market. Which is why it’s highly advised that homeowners try to make the best of their homes with improvements. It’s predicted that by 2022, there will be a growth of 3.5% in house prices across the UK. But Britain have learnt from Brexit that nothing is certain.