Fortysomething females in home loan surge

What a load of nonsense!

It should probably be borne in mind that over the last couple of years a lot of people were using SSIAs to fund this sort of thing. Now that they’re finished people are back to borrowing for this sort of expenditure, so the figures are probably a bit skewed.

I’d say a lot of the money being put into house renovations/extensions is because people don’t want to/can’t trade up… no prizes for guessing why…

By spending money on your own house, probably bought before the boom (for people 40+) , you get reasonable value for the improvements ( bar a bit of boom-time profiteering by the builder which is usually liveable with for these amounts.)

Until the housing market reverts to ‘normal’… God only knows when… there will continue to be above ‘normal’ levels of messing about with existing houses.

Back in the olden days, you were always cautioned against pumping money into a modest house, on the basis that you would never get it back when selling and you couldn’t turn a Corsa into a BMW.

However, if you get everyday value out of a snazzy kitchen for the indefinite future until you can eventually ‘trade up’ (if you even want to by then) … then it does make sense.

( At least this is how I’m justifying the next big house outlay…)

I wonder if the next phase opening up in Ireland will be the over-capitalisation phase. It goes like this:

“Let’s move dear”
“OK, but nobody will pay us what our house is worth”
“I agree. Let’s extend and renovate instead. That will further increase the value of our house”
“Most definitely.”

3 years pass:
“Let’s move dear”
“OK, but nobody will pay us what our house is worth”

and there aint much extending to be done to an apartment

There’s always the balcony :slight_smile:

What no room to extend the kids play room with a sun lounge conservatory? :laughing:

Not even fifty of them :wink:

Well, you actually can extend apartment by using outside part:

Also in old buildings you might find a spare stair case that can be used to extend within building. Not sure though it would be relevant to Ireland.

And if neither of these works, if your apartment is on the end of corridor you can extend there!

Those savvy and sophisticated middle aged women taken out a GE Loan better be ready for the ass reaming that will follow.

Ask any AMerican what they think of GE Money.

Fully Endorsed. (I’m not a septic by the way, I keep stuff in presses.)

Found GE Money thoroughly unpleasant to deal with, with a load of bullshit and massive charges when one DD went amiss. Avoid if at all possible.

That reminds me exactly of why GE Money should be avoided. These guys will manufacture late payments so they can charge extra. GE perfected that technique.

It seems that in current market conditions those improvements would just increase loss to home owners: … /index.htm

Anyone remember the days from the 80’s when Telecom introduced the metal phone boxes and some people removed the doors and used them for showers and conservatories. Some individuals cough earned a few quid fitting them.