Archived Entries
September 2009
Is Renovating my Property a Financially Savvy Proposition?
For many of us, the first question we will often ask is: “will I get the value of the renovation back on my property? For those with a vested interest such as builders, the answer given is often that you cannot lose money in bricks and mortar. However, is that really the case? In this time of economic instability, the answer to this is not necessarily - unless you live in a “property hot spot” of Mayfair or Sandbanks in Dorset for example.
Take a loft conversion as a typical home improvement project for example. With stringent building regulations in place (they are there to protect you, your property and the public at large), it can often be found that the monetary value gained would only cover half the cost of the work. When measured against house prices in that area, the proposal was not financially viable.
If you are thinking about undertaking a project, one way to get a rough idea of what your extension would be worth is to simply look around estate agents local to you for properties of a similar size to yours or similar to your theoretical finished property. Afterall, that is what valuations are based upon, comparing like for like and what they sold for. Whilst this will prove a valuable exercise (no pun intended), try to be open minded and appreciate that money doesn't always make our lives go round. Home improvements are more about how to meet your lifestyle requirements. I remain personally convinced that in the long term (and as statistics demonstrate), any home improvement will prove a financial investment also.
Protect Your Home against Credit Crunch Crime
For many of us, these are unsettling times with unemployment rising and consumer confidence waning. However, in times of economic downturn, one "business" that is on the rise is opportunist crime and recently published Home Office statistics bear this out. For the last four months of 2008, 31 police forces across England and Wales reported a rise in burglaries with 55,572 more cases of acquisitive crime taking place, more than for the same period in 2007. The last sustained rise in the burglary rate was back in the mid 1990s.
So, what can we all do to ensure that our homes and possessions are adequately protected?
- Whilst stating the obvious, please make sure your home is properly secured when you leave it with all windows and doors closed and locked.
- When working around the house, don't leave garage doors and side gates open.
- When working in the garden, try and lock the back door and take the key with you.
- Think beyond the house. If you have a side or rear gate, consider measures of securing these. For example, a sturdy padlock will provide a good deterrent and will also demonstrate to the opportunist that you are serious about home security. If the gate cannot be secured in this way, don't simply ignore it but think about replacing the gate.
- Whilst most home insurance policies do not require the fitting of an alarm, how about investing in one? The fitting of an alarm can also reduce home insurance premiums but if you do have one installed, Please Use It. If you do not, your insurance company may insist that the policy is invalid in the case of a claim.
- Be proactive with your neighbours. If you are away, ask your neighbours to park a car on the drive for example to make the house looked lived in.
- Fit timer switches to light fittings and electrical devices such as radios.
- Invest in secure locks for your home - for example:
- Deadlocks for external doors
- Secure locks to windows
Yes, opportunist burglary is a concern but above all, we must not live in fear. By following some of the above steps, we can hopefully deter any potential crime and buck the statistical trend.
Making the most of our homes when moving is not an option
Research published by the Council of Mortgage Lenders (CML) earlier this year has found that two million households (April 2009) have either negative equity or too little equity to finance a house move. With moving home becoming less of an option, more and more of us are thinking of creative ways to increase our living space within our existing homes.
With a little imagination and creative thinking, your home may in fact offer more potential for expansion than we actually realise. You simply need to be pointed in the right direction to spot those hidden opportunities to either add more space or improve the existing layout.
Start by looking at all of the options for your particular house type, from extending up, out or down to changing the existing room plan. Then decide which option best meets the needs of your household and your available budget. Bear in mind that even if your extension adds less to the value of the home than what it costs, providing it gives you the space you need when moving is not a real option. Above all, please remember that we have been through property slumps before and any kind of improvement work you carry out will offer you the potential edge when you do finally come to sell and in the meantime, provides improved accommodation levels.
Five steps to increasing living space:-
- Establish your budget; to help you with this, why not visit the extension calculator located on the www.doineedplanningpermission.co.uk website? This will give you a rough estimate of anticipated costs.
- Understand your property works for you; for example, would a single ground floor space be more beneficial when compared to 2 reception rooms?
- Identify potential constraints; any works you carry out to a listed building will require consent and will have to be carried out in a way which respects the existing fabric of the building. If your house has been the subject of previous extensions, this may constrain what further building works you may be able to carry out. If the latter is the case, don't dismay, as remodelling the internal layout may be the solution.
- Consider the potential options your house offers; for example, terraced properties offer considerable opportunity for remodelling and semi-detached properties offer opportunity for loft conversions.
- Think garden; if you are lucky enough to live in a house with a large garden, why not erect a garden room?
For many of us, we enjoy where we live but are forced to move because our families have outgrown our present homes. Before you consider moving, re-evaluate your present home and who knows......
Orchard Planning Solutions welcomes Paines Conservatories
As history has demonstrated, conservatories have proven a popular and cost
effective way of generating additional living space.
To this end, Orchard Planning Solutions is pleased to welcome Paines Conservatory Specialists as its latest advertising partner.
Serving the home counties of Hertfordshire, Bedfordshire, Buckinghamshire, Middlesex and North London, the family run business specialises in the design and installation of PVC and hardwood conservatories. With over 40 years experience in both windows and conservatories, the company prides itself in delivering a quality, value for money product from inception to completion.
Greening the Nation
With rising fuel prices and the world gripped by economic downturn, further gloomy news to hit homeowners is that our homes are not green enough. Latest statistics show that Britain's housing stock is responsible for nearly 27% of the entire country's emissions of carbon dioxide. This does not come as a real surprise. I am sure we have all sat round at Aunt Nellie's house and experienced cold ankle syndrome caused by draughty houses. These stamina-building experiences, which will remain with us for the rest of our lives, could soon be a thing of the past. In this world of targets, are you aware that by 2016 all new homes will have to meet zero-carbon standards? However, this is only the start. By 2050, the country will be required to have reduced carbon emissions by a staggering 80%. In order to realistically get anywhere near meeting this target, attention is beginning to turn to the existing housing stock and what can be done to reduce their contribution to carbon dioxide emissions.
Did you know that last month, the Prime Minister took the first step toward achieving this target by making cavity wall insulation ad loft insulation available half-price to every household and free to the poor and pensioners.
There is no doubt that we all feel a moral obligation to doing our bit for the environment. However, how many of us have wanted to make that life-changing move but have been stumped by the initial cost of installing solar panels or a wind turbine for example?
Here at least are a few ways we may attempt to green our houses:-
- Installing a biomass-burning boiler would cost between £5,000 and £10,000 to install but can produce up to £1,000 worth of energy and save up to 6 tons of carbon dioxide compared to a traditional boiler.
- Wind turbines can help meet your energy bills but are the subject of planning controls and can cost anything form £1,500 to £5,000 to install albeit grants may be available. Further information on where are available will follow suit.
- Did you know that it is now possible to purchase triple-glazed windows and are more efficient than the traditional double-glazed windows?
- If you have a river or indeed a stream running through your property, technology in the form of a hydro turbine can harness this natural energy. Whilst the capital outlay for such a system is between £4,000 and £10,000, hydro turbines are considered efficient in that approximately 90% of the water's energy can be converted into electricity.
- Extracting heat from the ground is not reserved purely for the realms of science fiction. Again, whilst the initial outlay is not cheap, for between £6,000 and £12,000, you can purchase a system which extracts heat from the ground and can generate up to £1,000 worth of electricity a year.
If the above are eye watering and are not financially within reach, there are measures we can all implement today:-
- We can begin by putting on another layer of clothing and turning the thermostat down a degree.
- Make sure the loft is well insulated and if it is not, seek out the subsidised offer that the Prime Minister is putting forward.
- Use energy efficient light bulbs and when changing your white goods, try and buy "A" rated goods.
- Avoid leaving gadgets on standby
- Keep a bucket by the sink and shower and use the water we would other wise waste whilst waiting for the tap to run hot for flushing the toilet with.
Your Driveway and the Planning System
In these times of economic budget tightening, it is often those "I can do jobs" that become a reality. Yes, with the correct materials and a level of competence, any person can lay a new concrete driveway or indeed asphalt it.
However, as of 1 October 2008, homeowners must use permeable paving if replacing existing, or installing new drives or pathways in their front gardens. If you don't use a permeable system or water cannot soak into the ground via another route, all hard surfaces with an area over 5 sq metres will require planning permission.
Please remember that ignorance is not a defence and it is the homeowner's responsibility to ensure that this is the case under the new planning rules. Whilst you may not recognise this, a failing to receive planning permission may come back to haunt you if in years to come you wish to sell your property (see the Frequently Asked Questions section).
If you feel you are not confident in undertaking such a project, as the old adage goes "cheap may not always be the best". Therefore, if you are tempted by an offer in the local paper or other means, "which is too good to be true", why not take a moment to check the credentials of that company?
For further information on this, you can contact Interlay - the Independent Trade Association for Block-Paving Contractors who can help you find an approved contractor at www.interlay.org.uk.
Let us know your experiences both good and bad when it comes to driveways.
