What does Brexit mean for your house move – now and after October 31st?

That all important decision for home-owners right now – whether to put off moving and go for a home extension or renovation instead in order to get the extra space needed, will still be very much to the fore running into the usually buoyant house-selling Autumn period just ahead.

We at Mint Builders have noted some valuable responses online of late, via the influential Home Owners Alliance. They have posed that key ‘stay or go’ question to some influential property people.

inundated

The Home Owners Alliance, point out that their phone lines and email inbox have been inundated recently with queries from people wondering what Brexit means for their plans to move house. Should they put their home on the market before Brexit or wait? That is for sure THE question!

enquiries

Say the Alliance, “We’ve also had enquiries from people struggling to sell, or to find a suitable home because of fewer properties for sale. Plus, we’ve had questions from house buyers wondering if they should renegotiate their offer price in light of a possible no deal Brexit. These are not easy decisions to take – that’s for sure!

canvassing

There is now, of course, not so long until October 31, and the likliehood of a no deal Brexit high, the HOA have been canvassing the views of some industry experts on whether those considering selling a house should sit tight or get on with their house move.

renovate instead

Nick Stockley, Head of Design at Resi, the UK’s largest residential practice advises those who can, should renovate instead of move. He says. “I personally wouldn’t advise anyone to sell their home until after Brexit actually happens now.

better to stay

Staying put and renovating is the favoured approach of many homeowners at the moment amid all the No Deal Brexit confusion – and it could stay that way until 2020

“At Resi we submitted 125 planning applications last month, the most that we have ever had since we started two and a half years ago. We had 3,000 people sign up this month too, showing just how many people are renovating rather than trying to sell. Many of these will have decided it’s better to stay put than sell their homes in such an uncertain climate. It’s a sensible choice.”

testing issue

No getting away from it, it would appear – there’s for sure disagreement and uncertainty. It’s the uncertainty factor this is the testing issue surely. If you are moving for more space then risking the difficulties of the economic ups and downs post Brexit just doesn’t seem risk worth taking.

safety first

Potential Clients we have met since the Brexit row came to a head have quite often gone for ‘safety first’ and if more space can be found where they are then that’s the right option until the Brexit ‘fog’ clears and the economic outlook is clearly indicated for the way ahead through 2020 an on into the next decade.

argument

A Buying agent and market commentator Henry Pryor recently tweeted: “Rather than seeing a significant fall in house prices, I can see an argument that the market could actually ‘bounce’ once we have some clarity over Brexit.

understand

He adds “What both buyers and sellers need to understand is that Halloween is only the start. We will have two or even three years following Brexit during which we will have to rearrange the deals, rules, laws on everything from import taxes to agricultural subsidies.”

human factors

‘Keep Calm and Carry on’ is the advice of Will Clark, Managing Director of myhomegroupltd.co.uk – “My advice for anyone looking to sell or thinking of selling is simple:- you can wait for the aftermath of Brexit but you’ll then be faced with Christmas only a few weeks away.

holding off

Realistically waiting for the 31st October means holding off until mid to late January 2020. Of course, we’ll know where we stand on Brexit, but we still won’t have clarity on the economic climate.”

Refurbishment, improvement and extension of your home – it may be best at the moment.

Mint offers a full development and finishing service to add value to your home. We are here to help with any questions or concerns you may have. We have all the expert contacts on hand to help you.

Whatever your need, please request your quotation to improve, refurbish or extend your home . Contact Mint Builders on 01242 279739 or email info@mintbuilders.co.uk