Nuspace: Building Through Brexit
We talk to the team at nuspace for top tips for how to prioritise your home in times of uncertainty
We are in uncertain times. No matter the outcome of Brexit, future financial trends are unpredictable and it can seem sensible to hesitate before parting with your hard-earned money. If you’re looking to extend your home, lying low and delaying until things have settled down might appear an attractive option.
That’s understandable, but it might not ultimately be the best response. nuspace, a London-based family-run business, has made a name for itself performing hundreds of successful extensions, loft conversions and basements over the last decade.
“Property remains one of the best investments you can make,” says Graham Chappell, managing director and founder of nuspace. “Buying a new house can be costly and giving up your existing home can be a logistical and emotional nightmare. Building an extension can work out cheaper and easier and gives you that much-needed space to breathe.”
How could it work out cheaper? Buying a new home can carry a heavy price tag and a substantial chunk of this is made up of stamp duty. This tax can be avoided by opting for an extension instead. Even if you don’t plan to stay put in the long term, this adds tax-free value to your property that will ensure the extension will remain a worthwhile investment. Whether you stay, move or rent it in the end “love it or list it”.
Don’t forget that planning and party wall process is likely to take typically four to six months by the time you are ready to start. It might be worthwhile as some of nuspace clients are dying to kick start the process while we wait to find out the final outcomes of Brexit.
In any case, planning permission would be valid for three years even if you then decide to pause it for a while. If you are selling it could make your property more sellable and open your property to a larger part of the market.
Practice what you preach!
nuspace knows every stage of the extension process inside and out, and isn’t afraid to put its money where its mouth is, for the company is currently undertaking an innovative building project of its own. Designed by their in-house RIBA-qualified architects and overseen by their project managers, they will be opening a flagship office at 301 New Kings Road in Fulham, London later this year and building a house behind accessed from the side street.
A visit or phone call could be worth your while: a conversation with their experienced staff will take you through all your options and what works out best for your wallet and your peace of mind.