You’ve saved up and invested wisely. You have some cash to invest, but where is it going to be safe? There was a time when people would shout out “in a pension pot”, but then that went bad. Then they shouted out “put it in the banks”, but that didn’t go so well either. Our parents might still harp on about investing in “bricks and mortar”. This may well surprise you after the big property wobble of recent years, but could they have good reason to stand by their houses?
The property market is a peculiar place. On one street houses may be steadily increasing in value, and always have done since they were built. Others in the very next street are still cheaper than when they were built 7 or 8 years ago. This may be due to demand. Detached four bed properties are extremely popular at the moment, as people are trying to move out of the terraces. Or it may be something to do with that new housing estate being built just two streets away, providing beautiful homes nobody else has wiped their backsides in!
Understanding the property market is incredibly hard as every property has its own unique set of variables to factor in. Our parents will sing and dance about how they paid a measly 4 figure sum for their house back in the 70s and how it is now worth half a million.
Good for them, but how much was that four figures worth in real terms back in the day? Would they be able to buy a better house now for the value of their current home? Was it a wise investment? These questions can only be answered by your parents because the investment was in far more than the bricks and mortar. They invested in their lives. They invested in how they would be raising you. They risked money in that property that could have been spent on other things but chose to prioritise whatever that house meant to them instead – their dreams for the family.
Nowadays, Property development is all about helping people like you realise what your dream may be. In the 70s, people were not so fussy about extra rooms and built-in facilities. They were grateful to be in a position to own their own home at all. Many young couples in the 50s and 60s were restricted to lodging in someone’s loft space, so this would have been palatial in comparison. Now we want all the modern conveniences we can squeeze in, and we want it be luxurious.
Utility rooms and ensuites are expected in family houses these days. Buying a home for your family without them may be quite tough to live in at first. We want a fitted kitchen with every gadget, gizmo and appliance built in. We need houses to be adaptable too as we change. New builds are designed with this in mind, and being able to buy off plan also provides us with an opportunity to put our own personal stamp on it, matching the dream for our family.
Categories: Real Estate