Is It Time for You to Upsize?
27 Jun, 2024
Have you been late for work due to the morning queue for the single bathroom in the house? Considering triple bunk beds because of your growing family?
Then maybe it's time you upsized your home.
As we gear up for the next general election, potential change looms around the corner. For many homeowners, this uncertain period might act as a catalyst for considering a move.
Potential Changes in Stamp Duty
One significant factor that would be very relevant to the decision to upsize will be the possible changes in Stamp Duty Land Tax (SDLT). The government often reviews SDLT rates and thresholds, and with the election around the corner, there’s a possibility that a new administration could increase these rates. This potential increase could make buying a more expensive property more costly in the near future. For some homeowners, the risk of higher SDLT might be a strong motivator to upsize now rather than later.
Property Market Dynamics
The property market is always in flux, and the period surrounding elections can be particularly volatile and unpredictable. Interest rates look set to fall soon, however, with potential changes in the policies, there's uncertainty over how long this trend will last. People are choosing to upsize now to ride the wave of more favourable mortgage rates before any potential hikes because of the election.
Market Opportunities
Some opportunities that exist today in the market may not be there tomorrow. For instance, some sellers may be highly motivated to move quickly, making the prices more negotiable. Moreover, certain areas could be experiencing growth and development, creating the perfect locations to invest in a larger home.
Preparing for the Future
While it’s important to consider the potential financial implications of upsizing, many people also consider the long-term benefits. A bigger house may mean improved quality of life, space for one's family to grow, and a safe investment for the future. Even if policy changes make moving more expensive in the near future, the long-term benefits of upsizing could outweigh the initial costs.
Helping you Upsize
We’ve picked out some of our most spacious houses with an extra bathroom to deal with the morning traffic...
Fulbeck Avenue, Worthing
This beautifully presented detached family farmhouse full of charm and character, ideally situated in this favoured location, close to local shops, schools, parks, bus routes, the mainline station, and David Lloyd all nearby. Accommodation comprises an entrance hallway, an open-plan modern and spacious kitchen/breakfast room, a dining room, a garden room and lounge, a living room with a feature fireplace and exposed flint wall, a downstairs WC, and a utility room. Upstairs, there are four double bedrooms, one of which has an en-suite, and a modern family bathroom. Other benefits include a double-length and double-width garage, a study/basement, off-road parking for multiple vehicles, and a beautifully presented and well-kept rear garden with a feature pond and decked area.
https://www.robertluff.co.uk/properties/fulbeck-avenue-worthing-7394
Hailsham Road, Worthing
This spacious and exquisitely presented detached family home, ideally situated in this favoured Worthing location within walking distances to the popular Worthing promenade and seafront and close to local shops, schools, parks, bus routes, the mainline station, and Worthing town centre. This magnificent property comprises a spacious and modern 'L'-shaped kitchen/family/dining room opening through into a living room with a contemporary feature glass-fronted fireplace, a bay-fronted formal dining room, and a downstairs WC. Upstairs, over two floors, there are five double bedrooms, with one having an en-suite, a beautiful family bathroom, and a terraced area overlooking the sunny south facing rear garden.
Aldsworth Avenue, Goring By Sea
Another spacious home located close to the Seafront in Goring By Sea. This stunning remodelled detached chalet family home extended and fully refurbished to the highest standard. This home is ideally situated in this sought-after Goring Hall location set on the Ilex with local shops, schools, parks, bus routes, the mainline station and of course the beach front all nearby. Versatile accommodation offers a spacious grand entrance hall leading and opening through into a modern open-plan kitchen/living/dining space, a bay-fronted living room, four double bedrooms over two floors, with two having en-suites, a stunning refitted family bathroom and a glass enclosed balcony area overlooking the Ilex.
https://www.robertluff.co.uk/properties/aldsworth-avenue-goring-by-sea-worthing-7407
Sea Lane, Goring Hall
This Grade II Listed Spacious Detached House that is in a conservation area on the Goring Hall borders. The front is reported to be Georgian and the rear part dating back to the 1600's, so it is filled with lots of wonderful character features. The sea is at the bottom of the road and there are comprehensive shops, schools, bus routes and mainline station serving London & Brighton are all close by.