2015 Year For “Improving, Not Moving”, Say Surveyors

• January 18, 2016|
• News|
• admin-malbern

What’s on the cards for your home in 2016? Will you be looking for a new house with more space or perhaps building one of the best conservatories Cheshire has to offer to improve the home you’re already in?

If the figures from last year are anything to go by it’ll be the latter, as rates of re-mortgaging sky rocketed last year as more and more people decided to stay put and put their money into making their home better rather than choosing to move.

The surveyors at Connells Survey & Valuation saw valuations on buy-to-let properties rise 86 per cent last year and 34 per cent for those seeking a remortgage, according to BDC Magazine.

Corporate services director John Bagshaw described how remortgaging was a great choice for many homeowners last year. “Home owners who lack the desire to take the risk and move are opting instead to remortgage in order to release capital on their home to use towards home renovations – improving rather than moving,” he said.

Not only does home renovations avoid all the extra costs associated with moving home, such as stamp duty, estate agent fees, let alone the process of moving itself, it also adds value to your investment.

While the exact amount depends very much on the design and functionality of your space, a good rule of thumb comes from TV’s Phil Spencer, who advises that a conservatory can add around seven per cent to your home value, while a full on extension could add up 11 per cent.

Get a quote from us today, and you may soon see your remortgage is well worth the investment.