I have to say that the housing market situation here in England is quite shocking. It is not that people do not want to sell their house or even that they want to buy a house – no the main issue is attempting to obtain a mortgage. I have personal experience of this and I have now decided to take an alternative option which is basically to make improvements to my existing house.
As a family we had been attempting to sell our house for over twelve months. We had numerous people who came to view the house and three of them even put offers in. Each of them eventually had to pull out – each for the same reason – the banks and building societies were unwilling to lend them a sufficient amount of money. It seems at the moment that unless you have a perfect credit history that you will not be accepted for a mortgage – and how many people have a perfect credit history? Yes very few.
As previously stated we eventually decided to change our approach and decided to make a number of home improvements to our existing house instead.
The pride of our handy work has been the changes that we have made to the flooring. Basically we have installed water underfloor heating in a few of the rooms and electric underfloor heating systems in another.
As well as doing this we have also commenced redecorating the whole house. We have a large amount of rooms in our house therefore this is a work in progress. In fact I often feel that by the time we have finished we will probably have to start again!
As a family we are now very happy with our decision to stay and upgrade our existing house and I would certainly recommend other people to do the same – especially if you are struggling to sell your house.