Cost My Home Ltd

17/05/2022

Shall we continue with our home improvements or should we wait?
Tricky one to answer.
But firstly, a question you need to ask yourself. How will I fund our home improvements?

Will your home improvements be funded from 100% savings, 100% re-financing or a mixture of both?

If your partially, or completely funding your home improvement by re-financing your property, the threat of interest rates might persuade you to halt your plans due to the expect Bank of England (BoE) increasing the base rate.

Another reason why you may wish to pause your plans is the hot topic, inflation. The building industry hasn’t been exempted from these soaring prices and we’ve seen steel, concrete, timber, plaster, ceramic, brick and block materials increasing by 10% to 30% in short concessions.

To help decide whether to continue or to wait with your home improvements plans, perhaps use www.CostMyHome.co.uk unique home improvement estimating webtool to check how much your plans may cost today.

12/05/2022

Is it a big deal if the Bank of England (BoE) increases the base rate?

The short answer is, yes, absolutely.

For the past 13 years mortgage rates have been at an “all-time-low” which has contributed to property prices soaring. During this time the BoE base rate has been fluctuating between 0.25% to 1.00%.

But with the threat of rampant inflation, the BoE are increasing the base rate to try and mitigate these rises (with little effect). This has a knock-on effect to us borrowers, because if the base rate increases, so does our borrowing rates from our lenders.

Some of us may have tracker mortgages, others may adopt a fixed term mortgage, however, once our mortgage term matures, we’re presented with current day mortgage rates which will likely be higher than previous years.

Not to get too involved with the figures but roughly, mortgage lenders lend (depending on the term, loan-to-value, mortgage length) approximately 1.50 to 2.00% above the BoE base rate.

So, in a few years when our mortgage term matures, we’ll likely be exposed to higher interest rates. If the BoE rate is increased up to 2% our mortgage lender would likely be lending rates from 4 to 5%.

In comparison, borrowing £200,000 on our previous historic rates, on say 2%, payments would be £4,000 per year, whereas, if we played that same scenario again but with the potential lending rate increases, say at 4%, our mortgage would cost £8,000 per year.

So, what does this mean for house prices, will they continue to soar, fall or stay the same? Your comments are welcome.

30/04/2022

What webtools do you use when looking for that property?

When searching for that perfect property we use a variety of swiss-army webtool to dissect a property, whether we use, Google Maps, Street View, Ofsted ratings, Crime rates, broadband speed-checker… the list goes on.

But do you think there is a webtool that gives you home improvements costs for potential properties?

So, for instance, have you ever viewed a property and thought, this would be a great for us, but how much to upgrade that bathroom, replace those much-needed windows and doors, install an efficient central heating system, oh, and that designer kitchen?

Well, with www.CostMyHome.co.uk, you can do without spending a single penny.

To find out how much that property could cost to refurbish or add an extension as you desire, simply type in the postcode, find the property number and select what works you desire. Within a matter of split-seconds you’ll be presented with a cost for your renovation or extension project. It really is that simple.

If you want to refurbish your home or build an extension, use Cost My Home to digitally build what you want and find out how much it will cost.

13/04/2022

Found a new property which needs improving?

We’ve all done it. We’ve viewed properties and thought how much would it cost to renovate or extend that property. Potentially, this unknown has put us off from proceeding with that property.

With www.CostMyHome.co.uk unique home improvement webtool you can find out how much it would cost, whether you’re viewing in person or virtually.

Simply type in your postcode, find the property number and select what works you desire and we’ll do the rest. Within a matter of split-seconds you’ll be presented with a cost for your renovation or extension project. It really is that simple.

07/04/2022

How much for a single-story rear kitchen extension?

Tricky one to say for definite, people resort to a cost per square metre or square foot but would suggest that this isn’t the best solution to know how much your extension will cost ‘you’.

There are many variables and obviously depends on the size of the extension, whether you’re planning to have a standard or designer kitchen, installing radiators or laying underfloor heating, or opting for UPVC French doors or industrial looking crittal doors?
All things that can change a price from £40,000 or £80,000.

To find out how much your extension would cost, simply type in your postcode, find the property number, draw the outline of your extension and select what works you desire and we’ll do the rest. Within a matter of split-seconds you’ll be presented with a cost for your renovation or extension project. It really is that simple.

22/03/2022

Is inflation, deflating your home improvement plans?

As Ronald Reagan said “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.”

May seem a bit dramatic, but with record breaking fuel prices at the pumps, household gas prices soaring, plus double helpings of food price increases, perhaps we can see Reagan’s point of view.

The building industry hasn’t been exempted from these soaring prices, prior to starting perhaps use Cost My Home’s unique estimating tool to price your home improvement works to check whether inflation is deflating your home improvement plans.

24/02/2022

Extend your house, not your overdraft
Considering an extension but want to know how much, before you spend a single penny? Well, you’re in the right place with Cost My Home.
Cost My Home works by simply;
1) typing in your postcode,
2) find your property,
3) draw your extension outline with our software,
4) select what you would like (kitchen, bathroom, sliding folding doors etc), and then
5) send, save or download your detailed estimate.
Its free to use, accurate and helps with your decision making.

If you want to refurbish your home or build an extension, use Cost My Home to digitally build what you want and find out how much it will cost.

17/01/2022

As questions go, it might well be one of the biggest ones most people ever ask themselves. And like most of the big questions, there’s never just one answer. It very much depends on a number of factors. So, we explore those using some friends of ours who find themselves with this very dilemma.

to extend or to move? that is really the question. A story of a common conundrum As questions go, it might well be one of the biggest ones most people ever ask themselves. And like most of the big questions, there’s never just one answer. It very much depends on a number of factors. So, … To ext...