Why You Should Invest in a Family Home In Campden
The UK experienced a boom in house prices. 2021 saw an 8% increase in average prices to reach £272,992, which is almost £34,000 higher than the beginning of the pandemic.
However, it’s predicted that 2022 will bring more stability to the housing market in the UK. This means a slowing in the pace of price increases and a better balance in the supply and demand of houses. It’s also expected that the trend of people moving out of cities will be continuing. This is thanks to the possible persistence of flexible working conditions continuing, leading to people being inspired to make lifestyle changes and housing moves.
If you’re one of those considering getting a house, below are reasons that can convince you to invest in a family home.
Why should you invest in a family home?
It attracts better tenants
If you’re not going to immediately live in the house, you can choose to rent it out first so you at least have a stream of income. Fortunately, single-family homes tend to attract better tenants who stay longer. There are a few reasons for this — such as single family renters being typically more financially stable than apartment renters, making enough to provide for their family. This also means they tend to stay longer, so you won’t deal with constant turnovers and empty space. They also tend to take better care of the property and pay rent on time.
It gives your portfolio diversification potential
Investing in a family home increases your portfolio’s diversification potential. Diversification is essentially a risk management strategy that means a portfolio contains different kinds of investments. This is a good strategy since it typically yields higher long-term returns while also lowering the risk of your holdings. Real estate has low (even negative) correlation with other asset classes. So investing in a family home lowers your portfolio’s volatility while providing a higher return per unit of risk.
It’s a great way to prepare for retirement
The ‘one day at a time’ concept is certainly a good one to live by. It teaches you that focusing on the present will help a person fully accept and enjoy what’s happening to them at the moment. However, this shouldn’t apply to finances — in fact, one universally accepted financial tip is to plan ahead for your retirement. Considering the growing demands of your household, the inflation of your money’s worth, taxes, and other essential expenses, you can easily blow through your savings fast. Because of this, you should look for ways to save. One of them is having your own place to live in since you don’t have to pay rent. You may have to pay for a mortgage for some years, but once you’ve paid that off, the place is yours completely.
Its value appreciates
Real estate is one of those investments that can give returns that are higher than the inflation rate. Some of the things that can also help increase your family home’s value are the upcoming or available amenities it has — such as parking space, a mini terrace garden, and the general upkeep of the property. Local development also plays a role, so having restaurants, a market, and other facilities in the neighbourhood can increase the house’s value. But even if you don’t plan on selling the house, rent also tends to increase depending on the same factors that affect value appreciation. This means you still get higher cash flow.
Why choose Chipping Campden?
If you’ve decided you do want to invest in a family home, you should also be considering where to find one — and while you’re at it, Chipping Campden in the Cotswolds should be one of your top priorities. Here are a few reasons why:
It’s the countryside — but not remote
What’s stopping you from moving to the countryside may be that you’re thinking you’re going off the grid. However, you won’t have to worry about that if you choose Chipping Campden. The village is rural but not remote, meaning you get to enjoy the countryside life while also still having some of the conveniences of city life. Campden is surrounded by hills, farms, and cosy pubs. But there’s also a range of restaurants, home delivery options, a few late-night shops for essentials, a supermarket, and good local schools. If you feel the need for a stronger urban fix, you can visit Stratford.
It’s a historical site
Chipping Campden is a place of history and culture, making it one of the most popular destinations in Great Britain. It’s also a place of gardens, and among those open to the public, Hidcote Manor is the most well-known. It’s a botanical wonder that’s most popular for its old roses. Birdland Park and Gardens is another great garden where you can spot hundreds of birds — including flamingos, penguins, and parrots. For historical landmarks, there’s the St. James Church from the 13th century, which took 200 years to complete. Meanwhile, Grevel House is the oldest house in Campden, where you can see impressive Gothic architecture from medieval times.
It’s a cultural hotspot
With how much history Chipping Campden holds, it’s unsurprising that it can give you a cultural experience as well. The village was the former centre of the Arts & Crafts movement, and nowadays, the Old Silk Mill serves as an artists’ co-operative and exhibition space. Meanwhile, there’s also the Chipping Campden Music Festival that was first held in 2002 — but has become one of the UK’s leading festivals with its classical music programme that runs for two weeks every May. Another music festival is the Longborough Festival Opera which runs four different operas with 20 to 25 performances throughout the summer season.
It has wonderful views
Chipping Campden is one of the most popular villages in the area, and within reason — it’s one of the prettiest towns in Cotswolds with traditional stone cottages and shops. It has limestone wall-enclosed fields, rolling hills, and farms with lots of roaming sheep. The scenery in Campden wonderfully shows you the countryside life with a modern twist.
Article was specially written for www.chippingcampden.com by Alice Campbell