An ex display kitchen has many benefits, including the fact that you won't be losing on a huge investment if you intend on moving in the future. Here's more
When you’re looking to upgrade a certain area of your home, there’s no doubt that you’re thinking about the value that it adds to your property. However, it might not be worth the extra money that you’re willing to pay for it. If you buy an ex display kitchen, for example, then you’re not going to miss out on the long-term return or a loss on your house’s value.
According to a report from Lloyds Bank (via PropertyWire), the amount of people who are likely to move homes has dropped below the number of first-time buyers for the first time since 1995. The research found that only 49 per cent were likely to switch properties in the first six months of 2018, which is a significant drop from the 62 per cent it stood at in 2011.
Andrew Mason, mortgage products director at Lloyds Bank, commented: “Despite [the] continuing low mortgage rates, the homemover market has stabilised with little movement in the first half of this year to leave first-time buyers now driving housing activity. The costs of moving house and potential further interest rate rises may also be weighing on potential homebuyers’ minds.”
The Office for National Statistics (via the Guardian) found that for the first time in five years house prices have been rising at its slowest annual rate. If you’ve owned a house for some time – or even if you’ve just purchased one – there’s no need to throw money towards a high-end purchase for the sole reason of trying to keep your property’s value up on the market.