Protecting Your Investment
We note that the credit crunch continues to impact on housing dramatically, across all sectors. For many, the safest and most profitable way to continue up the Edinburgh property ladder is to renovate or extend the existing property.
Taking this approach has several major benefits over selling up and buying again.
Absolutely no-one knows how the financial and housing markets in Edinburgh are going to behave over the next few years. Some people reckon that the downturn is reversing slowly and things will eventually revert to the good old days, others foresee that the housing market may never be the same again with minimum deposits of 30 - 40% for mortgages being the norm. Maybe a middle-course is more likely, but no-one is certain.Renovating or extending your existing property offers the stability and security of retaining your existing home, whilst adding the features and benefits that you wish in a controlled and phased manner. It need not be all or nothing; you can control the process, the timescales and the spend.
Moving house is one of lifes more stressful activities; taking into account schools, neighbours and many other factors in addition to the expenditure.
Higher return on investment.
Buying a new property at this point in time as an investment does not offer the probable return that it did several years ago. You are currently more likely to maximise your investment through renovating or extending your existing property.For a start you can discount many of the fixed overheads associated with a new property i.e stamp duty, estate agents, legal and removal costs. Neither are you contributing to the profits of the property sellers. Also forget potential multiple survey fees and the lottery of offers-over bidding.We can advise you on the renovations or extensions which will add most value to your property.