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Invest in the Future of Your Home
According to a recent online article from MyFinances.co.uk, a large proportion of over-50s are relying upon the equity in their home to see them through retirement. These “hippies” (i.e. HIPpies = Home Is Pension) are apparently choosing to rely on their home for several reasons. Firstly, the pension pot may be a little low, secondly, other savings are already dwindling in the current financial climate, and lastly, children are being written out of the fiscal picture (i.e. the house isn’t counted as a guaranteed inheritance) The amount of capital passed down as inheritance has also fallen for the first time.
So, what does this mean for our hardwood and engineered wood flooring brand? The above article resonated with us, particularly as a great deal of our non-commercial clients are folks looking to make long-term home improvements that both boost their quality of living (a reading room with parquet floors is certainly a treat!) and add value to their home.
Common advice, in terms of flooring, is that new carpets add very little value to your home, but properly installed, top quality solid or engineered wood floors could add significantly more than £2,000 to the value of a home. Between 2009 and 2011, the financial benefit of installing new flooring in the home rose by around 69% (HSBC figures) in terms of resale value.
Making good decisions in favour of the future of your home is about research, long-term investment and prudent financial sense.
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