Is 'NOW' the right time?
'Brexit' appears to have thrown open another time of economic uncertainty for the United Kingdom.
It is confusing with a lot of negatives overlaid by potential positives:
- Surely a weaker sterling exchange rate makes London property once again look attractive to overseas buyers?
- Presumably interest rates are likely to be even lower for even longer? The Governor of the Bank of England has already indicated that a rate cut is now likely in July/August 2016. If so this makes borrowing money potentially more favourable.
- Stock markets have pared back post Brexit losses within a week. Is this a relief rally of does it indicate that world markets will brush off the political uncertainty?
During such times of uncertainty is it natural to reassess ones priorities in life and potentially defer big economic decisions. Do we go ahead with a home purchase? Do we commit to other big expenses such as a new car or a home renovation project?
At SJA we understand that these decisions are difficult and we would be delighted to talk through your queries and concerns.
We started SJA in the last recession and our advice remains the same:
1) Start your building work when you are comfortable with your own financial position.
2) Before committing to start the build, work with a good professional team who focus on using the time available before you start to run processes that reduce your project risk and unknowns. We specialise in these projects and as well as providing great design advice our focus is on running project enablement processes that reduce risk and add tangible value.