Tuesday, August 1, 2006
Category:
Home Improvements
As the price of property and moving house continues to grow, it might make sense for home movers to stay where they are.
The current trend is to improve rather than move, and this is highlighted by some 330,000 domestic planning applications that were submitted between March 2004 and March 2005. This is almost twice the number submitted in the previous decade.
According to a recent article in The Times Online, the number of people moving has dropped since 2002. Television programmes such as Changing Rooms have been said to provide a source of inspiration for homeowners looking to move up the property ladder. These programmes have shown homeowners the potential to grow and develop their own homes, rather than incur the expense of moving house.
But it is not just television and media influencing individuals to improve what they’ve already got. Increases in stamp duty have become another growing cost of moving house. Add to that the price of a basic homebuyer’s report and the expense of a full building survey and the costs continue to mount. What’s more, if the sale proceeds then there are conveyancing and removal costs to think of.
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For those individuals opting to improve rather than move, they might find a secured home owner loan could provide them with the funds needed to carry out the
home improvements they desire.
