We all have designs on improving our home, but thinking about it and doing it are two very different things. As Steve Rawding, Sales Director of SEH BAC, explains, now is the time to take the plunge.
The housing market has experienced fluctuations in interest rates over the years, often impacting homeowners’ financial decisions. Current rising interest rates are set to make it much more expensive to move with securing a new mortgage much tougher with potentially higher interest rates.
And with mortgage rates rapidly rising too, and experts suggesting things could get worse before they get better, staying put is the best option.
You don’t have to move to get the home you want. In fact, your existing home can provide you with the space you desire with some home improvements.
Improving your home is a much more financially viable alternative than moving and investing in your current home makes perfect sense for several reasons.
Firstly, you can tailor your space however you want it. Whether it’s designing a dream kitchen, creating a cosy home office, or adding a designated area to entertain, a single storey extension is the perfect way to add the space you need.
A conservatory or orangery is an ideal way to create additional space that seamlessly blends with your existing living areas and will provide a light-filled and tranquil space that can be adapted to suit your specific needs. For example, a rear extension can expand your living space and create a seamless connection to your garden.
Designs can combine modern and traditional ideas for contemporary living, while stylish glass, tiled and lantern roofs can flood your space with natural light and thanks to modern materials and designs, your single storey extension will be kept at a comfortable temperature all year round, making it a useable space during the summer and winter.
You may have your heart set on opening your home with a stunning set of bifold doors. Their streamlined opening system, slimline frames and ability to open up a whole wall will act as a real focal point and help to maximise floor space while creating unobstructed views of your garden or patio.
There are also a number of home improvements you can make to instantly transform your home. Upgrading to energy efficient windows will help save you money on your energy bills, while replacing your front door will make a real statement.
Investing in your home also has financial benefits and can significantly increase its value for when market conditions improve and provide a substantial return on investment when selling in the future. It’s also worth noting that most home improvement companies will offer finance options to help, such as pay nothing for 12 months.
When you add in that improving your home only causes minimal disruption and stress when compared to moving, then it’s no wonder many homeowners are turning to home improvements as a way of creating the living space they have always wanted – and turning their dream home into a reality without having to move.
It could just be the cost-effective and rewarding solution amidst the challenging landscape of high interest rates for you.
As featured in Suffolk Norfolk Life Magazine – August Issue 2023
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