Reflection
December is a time for reflection on life and how it’s changed in the last year. A time may come to consider a move—upsizing as the family has grown, or a downsizing, as the need for a larger home is no longer there. In a year of national financial turmoil that has had an almost unprecedented effect on the property market, careful planning to understand the implications of such a move is vital. The property market has been slow, with vendors uncertain and buyers cautious. However, as always, with adjustments in values and mindset, it will emerge positively, as it has in the past.
Reassessing values regarding what we each need from a home is very personal and aspirational. Whilst finances are inevitably the driving force for a growing or shrinking family, age defines the changing needs as life evolves, in turn driving the property market itself.
Addressing the concerns of the planet when renovating a property is paramount. Whilst new build homes have regulations to ensure every house is as eco-friendly as possible, conforming to these standards in older houses is almost impossible, particularly in the traditional stone, cob, and thatch farmhouses and cottages for which Devon is recognised. Modern insulation methods are not compatible, and ground/air source heat pumps are just not compatible with providing consistent heat. It falls back to the traditional oil system, which goes against government guidelines, but ultimately, it is the most practical.
When renovating a property and assessing costs, many people overlook the cost of landscaping. It is somewhat ironic as often the value of a property is assessed by its “kerb appeal”. A significant renovation should include the landscaping element as a pivotal part of the design/alteration/renovation of any property.
In a time when costs are increasing it is hard at times to equate capital expenditure on a property against its potential value. Equally waiting just for an objective value to balance expenditure, you may find life has passed by the value is reached in the enjoyment of both creating that dream home and living in it.
Finally, the cost of moving is not insignificant, with a number of hidden costs in fees, Stamp Duty etc, so improvements to an existing home may be a more financially viable alternative.
No matter what the outcome of the deliberations around the fireside, what is important is to remember that home itself should have no daily financial aspect. It’s a place to live our life and build memories: “It’s all about coming home”.
Water. Manaton: Large and attractive thatched family home on the edge of the village with a successful holiday cottage set in 9 acres.
The Old Rectory, Cadeleigh: Quintessential former rectory and detached cottage in 6 6-acre parklike setting in the Exe Valley.
The Old Stables. Malborough: Stunning architect-designed converted stables tucked away in a village with great country views – excellent home/work property.
Bakers, Elstone, Chulmleigh: unlisted period Devon longhouse in 6.6 acres in a peaceful setting amidst unspoilt countryside.
Ford House, Stockland, Honiton: Charming cross passage country house dating to the 17th century, re-thatched in 2021. Set in 5 acres, including two medieval ponds.