Wednesday, 4 January 2017

Worried about house prices after Brexit?

Two and a half years ago we moved into our forever home, we have no interest in selling it but I am still curious to see how Brexit has affected homeowners.  This infographic on the Rattan Direct Blog is quite revealing and gives you some suggestions on how you can improve your property value if needed.

Regardless of the way you voted (that is your choice and shouldn’t be taken away from you) I am curious about how things will pan out.  I guess I think that whatever challenges we have ahead will hopefully have sorted themselves out by the time I would ever need to sell (if it comes to downsizing in old age).

I try not to panic about house prices, but if you did need to sell and are worried that house prices have fallen it might be worth considering renovating – apparently an extra bathroom can add 6% to the value of your property.  So if you’re a dab head at DIY it might be worth targeting your effort at renovations that add value.  Likewise also think about the exterior of your property by making the garden look appealing or even adding a summer house.

Adding a room can help increase the value of your property, in our case we have actually got rid of a room by making one very big room instead!  I am hoping that won’t impact our house price too much though as I think a lovely big master bedroom might be an asset.  But I guess its all down to the requirements of the next person to buy your home, some of what we decide to do is very personal to us and there is no guarantee that everyone will feel the same.

21% asked in the survey were more aware of their disposable income since Brexit, I guess I would be bundled in that figure as a precaution I want us to spend less on eating out and takeaways and encourage hubbie to take a packed lunch to work.  When it comes to a house though we all need somewhere to live so I am sure house prices will settle eventually, even in London where apparently its been hit the hardest.

1 comment:

  1. Everything worries me in respect to Brexit! One of our close family members put their house on the market just 2 weeks before the Brexit vote and hasn't had anyone round it since... it's definitely a worry! x