The property market may be going through an unusual period at present, with calls to streamline and simplify the conveyancing process, stricter regulation for estate agents, and demands to reform leasehold property laws, not to mention the huge increase in online property sales. And we’re still a long way from knowing the effect Brexit will have on the housing market.
However, we should remember that purchasing a property is not just a financial transaction for many people, made purely with the prospect of making a profit when the time comes to sell up. Individuals and families enter the housing market or move property for a wide variety of reasons. It may be the need for more space as the family grows, down-sizing after the family has moved out, re-locating for work, easier commuting, or the proximity of a good school which is the motivating factor.
More particular requirements may be the desire for a large garden, off-road parking, the proximity to family, or the need for a home office which drives people to re-locate. In all these cases it is not simply the building that people are investing in, but the desire to create their ideal “home” – a place to live which meets as many of their needs as possible. The building itself becomes merely the sum of its parts.
From being simply a place to provide shelter and warmth the home has grown to mean many things, and these can vary greatly from person to person. For those motivated solely by the investment value of their property there will always be concerns over the state of the economy, legal reforms, the political climate, or dozens of other factors which are out of their control. For the rest of the home-owning population, though, life carries on regardless. And what price can you put on the satisfaction of coming home to a property that you have made your own, arranged to maximise your needs, and with all its home comforts in place?
As the proverb says: Home is where the heart is.
Bretherton Law are pleased to welcome Lucy Madley to our Residential Property Team. Lucy qualified as a Chartered Legal Executive in 2011, and has since been gaining valuable experience in and around the London area, acting for buyers and sellers in the freehold and leasehold property markets. She has in-depth knowledge in the purchase of new-build properties, the Right to Buy and Help to Buy Schemes, as well as re-mortgages and transfers. Contact Lucy on 01727 869293, or book an appointment online.