Friday, 21 August 2009

Property Renovation – a step in the right direction

Property renovation has grown more and more popular in recent years with people buying property cheap, ‘doing it up’ and selling it off, making a nice profit in the process.

Whatever your reason for property renovation there has never been a better time to invest in it and watching a derelict building turn into your dream home is an incredible experience. Whether you want to modernise, overhaul, refit, reform, renew, repair or restore your property; renovation will transform the appearance of your property making it more pleasing to live in and in the long run making you a profit.

For your first experience at renovating a property you could try installing a new kitchen or bathroom or having central heating fitted. Any change that you make to your home, even if it is as simple as merely re-painting your home is classed as property renovation but before you start pulling out all the fixtures that you can get your hands on you should make sure that you plan what you want from your renovation as planning is key to ensure that you get what you want. Although things can’t be guaranteed to run smoothly when it comes to property renovation you should still have a time frame set out so that you have goals to work towards, meaning that the jobs that are being undertaken will be done a lot quicker.

Knowing what you want from your renovation and having a time frame set out are just the beginning when it comes to property renovation; you also need a budget in mind. Even though there is a high chance that you will run over this budget, by having one in mind you will be able to select the best quotes from the ones you gather from various contractors such as electricians, roofers and builders. Selecting a cheaper quote is good for your budget but make sure it is good for your renovation. Getting the best work from your contactors is more important than choosing work that costs that little bit less as you could end up spending more in the long run.


It is also important that you are prepared to live in a building site for a length of time whilst your renovation is being undertaken. There is a lot of work that needs to be carried out if you are renovating the entire of your property such as, gutting the property before any work can be undertaken, electrical re-wiring of the entire property, installation of heating, storage and air conditioning systems, cavity walls and window installation as well as flooring, roofing, fixtures and fitting and all of the painting and decorating that will need to be undertaken.

Before starting work on your property you need to visit tradesmen so you know what you are letting yourself in for and if the property that you are renovating is old you need to be prepared for anything.

Property renovation is an extremely hard process but highly rewarding when all of the work is completed. The results that you will see from it will be unbelievable and you will be left with your dream property, whether this is your new home or your new business.

Monday, 3 August 2009

House prices will take five years to regain 2007 levels, says NHF

By Joey Gardiner

National Housing Federation research forecasts 12.2% fall this year and 4.6% the next, with recovery starting in 2011

House prices will not return to their pre-slump levels until 2014, according to new research from the National Housing Federation (NHF).

The research predicts that, despite most mortgage lenders reporting price stabilisation, overall house prices will fall 12.2% this year and a further 4.6% next.

The research finds that house prices in England in 2013 will be 3% below their pre-credit crunch peak of 2007, but by 2014 they will be 3% higher. It says that recovery will start in 2011 with 1.1% rise, followed by rises of 7.5%, 8.4% and 6.8% in the three subsequent years.

This means that homeowners who bought in 2007 may have to wait until 2014 until they emerge from negative equity. According to the NHF, the downturn has increased housing need.

NHF chief executive David Orr said: “While house prices are falling in the short term, they will inevitably increase in the long term because of a fundamental undersupply of housing. We welcome the government's recent promise of a national affordable house building drive, but if we are to avoid run-away house prices in the future when the economy picks up, ministers must ensure we build the right numbers of homes for social rent now, so that housing supply meets demand.”



Read more: http://www.building.co.uk/story.asp?sectioncode=284&storycode=3146249&c=1#ixzz0N82Tt0HN

House prices will take five years to regain 2007 levels, says NHF

By Joey Gardiner

National Housing Federation research forecasts 12.2% fall this year and 4.6% the next, with recovery starting in 2011

House prices will not return to their pre-slump levels until 2014, according to new research from the National Housing Federation (NHF).

The research predicts that, despite most mortgage lenders reporting price stabilisation, overall house prices will fall 12.2% this year and a further 4.6% next.

The research finds that house prices in England in 2013 will be 3% below their pre-credit crunch peak of 2007, but by 2014 they will be 3% higher. It says that recovery will start in 2011 with 1.1% rise, followed by rises of 7.5%, 8.4% and 6.8% in the three subsequent years.

This means that homeowners who bought in 2007 may have to wait until 2014 until they emerge from negative equity. According to the NHF, the downturn has increased housing need.

NHF chief executive David Orr said: “While house prices are falling in the short term, they will inevitably increase in the long term because of a fundamental undersupply of housing. We welcome the government's recent promise of a national affordable house building drive, but if we are to avoid run-away house prices in the future when the economy picks up, ministers must ensure we build the right numbers of homes for social rent now, so that housing supply meets demand.”



Read more: http://www.building.co.uk/story.asp?sectioncode=284&storycode=3146249&c=1#ixzz0N82Tt0HN