Property

Testing times ahead for buyers?

“more stringent searches for borrowers”

Apparently as of next month there will be more stringent searches through mortgage applications. As said in the Evening Standard applicants may have to explain all outgoings and find their statements being gone through with a fine tooth comb… May be time to get going with that project sooner rather than later!
#juatsaying

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Project 1

Getting down and dirty::

The next step was to clear, clean and chuck out. This was quite a fun stage as it required little thought and very little care! We were careful however of the period features, including gas heaters with cork fireplaces very nice! No but we were careful of the original 1930s doors as we do like these a lot! Continue reading to have a look at the images.

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Property

Adding value quick points

When adding value there areย  couple of routes to take cosmetic or structural. Here is a list of what kind of return you can expect from what kind of investment:

Conservatory 5% of value increase

Kitchen 5-10% of value increase

Extreme cosmetic makeover 20% of value increase

Quote taken from http://blogs.telegraph.co.uk/finance/ianmcowie/100022974/newbuild-homebuyers-beware-period-properties-enjoy-quadruple-house-price-gains/
By contrast, every hour spent adding to the value of your home can produce tax-free gains because of what HM Revenue & Customs (HMRC) calls the prime residence Capital Gains Tax (CGT) exemption; profits on your home are tax-free.

However, even that lack of transparency is likely to make period property a better bet than newbuilds for bargain-hunters. Or, as Mr Hooper put it: โ€œFor those investors who wish to outperform the market as whole, the period property market is much more inefficient, and will produce more opportunities to buy below market value and increase value through planning and refurbishment.โ€

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