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Renting is rapidly becoming a complete new way of life for us British, despite the lower interest rates and better mortgage deals on offer for new homebuyers. According to the Office of National Statistics the number or 25-34 year olds who own their own homes has dramatically fallen in the past decade from two million to 1.3 million. Out of an estimated 23.4 million homes in the UK 36% of these are being rented – that’s 8.3 million! In comparison to the 64% (15 million) that are owner occupied, it’s more than half.
Within this growing trend of ‘Generation Rent’, new tenants of privately rented properties are challenging for ever-improving high standards from their living accommodation. Anyone who is looking to become a prospective investor, don’t run to your nearest property agents just yet, consider the on-going cost of planned work to ensure that properties are maintained in ‘tip top’ condition to keep them eye-catching and desirable to all prospective tenants. This won’t just be a lick of paint! Consider:
- Expense of painting and decorating regularly
- Money to replace flooring/carpet every few years
- Your kitchens, bathrooms and lighting need to be updated roughly every five years
- Make sure you have enough money for a new boiler/heating system every ten years
- Review new roof, guttering, fascias, windows and doors every 15-20 years
- You will need to have a renewed damp course every 25 years, maybe even more often if the property is older
Renting is no longer just limited to students and the transient young. Over 874,000 couples with children now rent their home, up from just 274,000 since 1999. In certain areas, such as Brent and Newham in London, or seaside towns such as Blackpool and Bournemouth; over a third of all families with children live in privately-rented homes.
The housing market is unrecognisable; especially from the economic downturn that has occurred over the past year – and in some places it’s still happening! During 2013 house price growth has rippled out from the capital and has inevitably touched every region. Mortgage lending and transaction volumes are dramatically increased. Rents are stable – at last! All mortgage costs remain at record lows; all of these factors appear to provide an attractive rental yield plus the bonus of capital growth. Is it any wonder that two in three (more…)
Professional builders provide a lot of benefits when you are looking forward to buy a new home. While buying a new home, you usually have to visit a lot of different places to check a few options. However, you do not have to waste your time and energy on visiting unknown places when you hire a professional builder. Professional builders try to understand all your needs and requirements and design a place that suits your preference and style. Hiring a professional home builder is always a wise choice. In this article, we will tell you how a professional builder is the best option when you are buying a new home.
Why Are Professional Builders A Smart Choice
1) Professionalism – A professional builder understands the importance of reputation in the market. Therefore, such builders act as professionals and try to understand all your needs and requirements. Even when we talk about commercial construction Minnesota companies try to build an establishment as per your requirements, preference and style. Moreover, professional builders always try to get the work done on time.
2) Experience and Training – Professional builders are always experienced with handling a lot of different projects. Therefore, they know how to cater to your needs even in the most difficult situations. Moreover, professional builders are properly trained to use (more…)