More than half of the owners of houses and apartments in the UK plan to make improvements in 2015 with 12% of them hoping to extend or convert their property. Mortgage UK provider Ocean Finance has shared with us his study of the residential real estate market.
The increase in family members is the most popular reason for this. But not only this factor is the reason for the reformation of the house. Often senior family members back home.
The increase in the family for 54% of homeowners is the first reason for the expansion of the house. Improving the quality of the building – the main reason for repair 12% who want to make your home more comfortable to use. About 7.2% are planning one way or another to increase the useful space of the house, and 4.8 % chose to provide additional living space from the attic, garage or shed.
Among those who are planning cosmetic or decorative home repair, 25% of respondents plan to paint or change the interior and add additional functionality.
Among those who have decided to expand your living space, the largest part of the respondents – 18% said that they want to allocate additional storage space. Still quite a large percentage – 10% allocates additional space from an aesthetic and stylistic point of view. 8.8% of respondents believe that the extension housing can be an alternative to moving and as much as 8.8 per cent increase the living space of your home to increase its value.
Despite significant concessions in payment of Stamp duty for low-cost real estate, which were adopted at the end of 2014, moving into a new house remains expensive due to the cost of lawyers, agent fee and transport costs. Not surprisingly, many people choose alternative method of improving their living conditions, expanding their existing housing space.
® Alice Morgan. 16.01.2015,
Investment in student housing. Luton and Richmond.
More than 120% in two years have earned our customers
Why buyers from Russia should not fear sanctions
The property market in England stable, despite political chaos
The prices of houses and apartments in the UK increased by 2.1% annually to £234625 in November 2019, according to...
AIRBNB wins in London. The most popular areas
According to the study "End of Tenancy" London, Kensington and Chelsea are the most popular areas on the portal Airbnb...
Christmas wish list from Rebecca Scott
Rebecca Scott "FoundItLondon", the Creator of the independent "search engine" real estate in the UK for novice buyers, presented a...
What happens if you remove the VAT on maintenance work and landscaping?
Organization real estate and construction sectors in the UK - Federation of Master Builders and the British Property Federation the...