‘Extend and Wait’ to beat rising house prices and Covid winter uncertainty!

There is – it seems – something of a key conundrum in play currently which is well to the fore in these Covid times – it is the outlook of rising housing prices. The thought is that prices may soar further if Covid does not increase its momentum as last year going into the Winter.   

That conundrum is all about how long it might be before the renters – in the face of the rising house prices – can indeed make a move to buy their first home. The cry of build… build …build won’t help the dubbed down situation reference wages though  – another of the ‘back ended situations also ‘in play’ due to the ongoing Covid effect. 

growing enquiries 

We, at Mint, are finding growing enquiries at the moment, in terms of extensions and renovations going on into New Year. This ‘Extend Instead’ approach is seemingly coming to the fore as the interim uncertain scenario regarding house prices emerges in the face of the second up and coming Covid winter uncertainty.

Covid momentum 

 ..… We shall – alongside all builders – be watching closely as the Covid momentum effect builds, as Autumn arrives and we move on into the Winter.

safer and preferred 

…We will be poised for sure to see whether the house pricing pressures continue onwards and upwards. But, our work potential seems to suggest many are certainly  regarding extension a safer and preferred financial choice through ‘til next Spring at least. A better bet perhaps opposed to a new home move because of house prices momentum and the stats projection for the up and coming Covid winter.

mini-apartments 

One builder’s approach to these testing housing times, we noted, was from Barratt, who have opted to help this next stage of these Covid-led property price pressures, by building some mini 39 sq ft apartments! These, by their size, of course aim to offer better affordability in these high pricing times. This is a move for sure to be watched with interest by other builders no doubt. These ‘minis’ are located at Harrow and numerous other developments of these minis are ready to go if the Harrow ‘gig’ goes well – we are told!

cost vs space

This, we reflected, very much highlights the whole ‘cost and space issue’ all round all areas of the housing market….and very much, for sure, within our home extension and renovation arena.  

extend – and move later

Reference current homeowners, it’s all about considering the ‘Extend instead of move’ issue in order to chase more space and still avoid of tackling a home move in the face of those higher prices. Extending also means you add value for when you move later of course! So, for a good few it’s the rising house price issue versus extension of your current home to add value. This ‘extend and wait’ scenario seems to be pushing its way very firmly into the picture into 2022 we believe.

challenging 

All aspects of the property marketplace – including rising house purchase prices and the  ‘extend and wait’ issue are in play for sure until  the future Covid momentum reveals itself as  we roll on towards those grey skies and frosty nights ahead. More challenging uncertainty in many ways for sure….We shall just have to wait and see……

We at Mint Builders are, of course, here to help locally with all kinds of extension, refurb and re-organisation of your home project  for the Covid Winter ahead this year …and on into 2022….

Feel free to request our project planning and quotation visit to refurbish or extend your home for more ‘liveability’ and increased future sales value in these vaccination focused Covid  times. Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk