Home Sweet Home?

October 18, 2014 by Brendan

House Prices

A recent report has revealed that more than half of the homeowners in Britain are unhappy with their home, with separate findings showing that more than 10 million UK residents are prevented from living comfortably because of lack of space.

According to Lloyds Bank Insurance and its ‘Britain at Home’ survey, homeowners are anxious about impending rate increases, and the impact they could have on their monthly budget. When combined with increasing house prices, many do not feel comfortable with increasing their mortgage to obtain a bigger home. Current house prices are also driving some first-time buyers, desperate to get their foot onto the property ladder, to choose an area they can afford, but may not like.

Of those who are unhappy with their home, some said it was the area they lived in that they didn’t like, with others feeling it was because they had insufficient funds to complete home improvements. For many, it simply is not their dream home.

As an increasing number of properties are built on a smaller volume of land, living space is shrinking, meaning that one in five feel they don’t have sufficient space at home to live comfortably. That’s according to a separate survey that was carried out by Privilege Home Insurance highlighting how people today are changing the way they live because of the limitations of their home as well as being more restricted financially.

By seeking the advice and guidance of a qualified professional who has completed their CeMAP training, potential buyers are reassured that they will receive an honest and transparent service.