Is the property market stagnating? According to the latest figures from the Nationwide House Price Index you could be forgiven for thinking that everything’s tickety-boo. Prices are up 1.7 per cent and annual growth now running at 12.6 per cent with the typical home up to 20 per cent higher than in February 2020. However, with inflation on the up, higher interest rates are on the way. Rising costs of living are seemingly out of control and there is increased market and economic uncertainty resulting from Russia’s invasion of Ukraine. Whether the market remains competitive or stagnates, why move and go through all the hassle and expense when you could simply use the money you’d spend on agent’s fees and stamp duty to invest at home? If you take on the right projects, you’ll find you can add value and put yourself in a better position to sell further down the line.
Value is generally added by improving one of the following key attributes of a home:
Space
Adding space, or improving existing space is arguably the best way to generate immediate returns from your home, even in a sluggish market.
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