Property owners can increase the value of their property through refurbishment and renovations. Looking around for companies that offer high quality and on the ball work can be tiring but KJM Group
offer this and more. They are a cost-effective option, be it refurbishing old fixtures and features, doing an extension, improving the house’s environmental sustainability, or introducing some modernism in the overall design and presentation. The options are vast and all viable for any homeowner.
Home improvement projects are nothing new in the UK. Most homeowners in the country will, at some point, consider changing their property in one or more areas. But the current COVID-19 situation has elevated things, increasing the desire in many property owners to undertake some renovations or refurbishment projects. It is a trend seen in buy-to-let property and across private residences.
According to a NatWest survey, nearly 3 in every 5 homeowners consider re-mortgaging to finance a home improvement project. The UK is on the verge of a property renovation and refurbishment revolution. It could be a new wave that will improve the standards of available properties in the market. Conversely, it is a revolution that could potentially bolster the UK’s post-COVID recovery.
Increased Home Improvement Projects Demand
But why would property owners consider improvement projects
at a time when the world is reeling from a global pandemic whose end is nowhere in sight? Surveys show that the increased demand and undertaking of these projects are directly related to the pandemic.
The United Kingdom has, since the 23rd of March 2020, under strict social distancing advisement and enforcement from its government. It is a situation that necessitated a lockdown, which forced many offices and commercial workspaces to close temporarily. As a result, many employees had to work from home. It is a situation that presented some challenges, but the transition to remote working become an eye-opener. Giving them ideas for new things, including business.
It became apparent for some of the workers, and for the first time, that they could execute their job within the comforts of their home. If employees can thus work without being physically present at the office, business owners have then begun toying with the idea of downsizing their offices. It is a thought occasioned by the possibility of this flexible work-culture becoming the norm after COVID-19.
Financing Home Renovations and Refurbishment Projects
Market Financial Solutions
is a bridging lender that has worked closely with thousands of property owners undertaking improvement projects. According to the findings of Business Development Managers, it is clear that some homeowners and property owners are finding it hard to access the money they need for their respective projects, be it an extension or changes in compliance with HMO standards.
With banks and credit lenders issuing stricter lending parameters, applications are taking longer to approve. It is a situation that has significant consequences, especially regarding minimising potential construction costs and meeting deadlines. That is why individuals considering a home upgrade project within the next few months must ensure they have adequate finances in place for such an undertaking.
Therefore, property owners must start looking beyond the financial limitation of loan products currently in the high street. They also should look to bespoke loans offered by specialist finance providers with an outstanding reputation. The specialist finance providers offer loans tailored to meet an individual’s needs faster than mainstream creditors. Moreover, the loans can also be structured to align with the borrower’s construction deadlines.