With the recent announcement of rising interest rates, homeowners may find themselves facing increased mortgage repayments. As the cost of moving to a new house becomes more expensive, it’s time to consider alternative options that offer both affordability and value. Quality garden buildings have long been seen as a desirable addition to any property, and now they provide an even more compelling reason to stay put. In this blog, we’ll explore how rising interest rates make garden buildings a sensible choice, highlighting the potential savings and added value they bring.
Rising Interest Rates and Mortgage Burdens:
Fixed-rate mortgages surpassed 6% in June 2023, resulting in a significant increase in mortgage repayments for homeowners. Over just two years, the average mortgage of £250,000 will see an additional £12,000 added to its cost, thanks to these rising rates. This financial burden prompts homeowners to consider alternatives to moving, as it no longer remains an attractive or cost-effective option.
Affordability of Quality Garden Buildings:
Respectfully ignoring the extravagant segment of the market, most quality garden rooms come at a fraction of the cost of moving to a new house. While an average house valued at £350,000 would incur expenses of approximately £20,000 in stamp duties, removals, and legal fees, investing in a garden building becomes an appealing alternative. By choosing a garden room instead, you can save a substantial amount of money and allocate those funds toward other essential aspects of your life.
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Endless Possibilities for Your Space:
Investing in a quality garden building opens up a world of possibilities. Whether you require a home gym or studio, an entertainment area, a dedicated workspace, or a combination of these, a quality garden room can cater to your needs. Not only will you enjoy the convenience and comfort of having additional living space, but you will also reap the financial benefits of saving on the costs associated with moving house.
Stress-Free Process with Kingdom Rooms:
At Kingdom Rooms, we understand the importance of a stress-free building process. With our experienced team and a long list of satisfied customers, you can be confident that choosing us for your quality garden building project will result in a smooth and hassle-free experience. Don’t just take our word for it—check out the positive reviews on Google and see for yourself.
Added Value to Your Property with a Quality Garden Building:
Investing in a quality garden building not only offers immediate benefits but also enhances the value of your home. Numerous independent sources and estate agents have attested to the fact that a well-designed garden room can increase a property’s value by up to 10%. Moreover, during challenging market times, such an addition can make your home more attractive to potential buyers, ensuring it stands out from the competition.
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As interest rates rise and moving becomes a cost-prohibitive endeavour, investing in quality garden buildings emerges as a sensible and financially savvy choice. By choosing to stay put and adding a garden room to your property, you can save a significant amount of money and enjoy the benefits of additional living space tailored to your needs. The stress-free process offered by Kingdom Rooms, combined with the potential added value to your home, makes this an opportunity not to be missed. Embrace the affordability, convenience, and value that quality garden buildings provide, and create a space that enhances both your lifestyle and financial well-being.