Take the Radecarl approach to your home
Many property experts are predicting a slump in the market. Some predict a steady fall over the next few years of between 3–5% per year. In real terms this would mean a drop of up to £15,000 on a house valued a £100,000 over the next 3 years.
Others forecast a much gloomier future for house owners with predictions of 10–12% per year reductions for the next 3–4 years. In financial terms this could mean a drop of between £40,000-£50,000 over this same period on the same value house.
Wherever you look or listen you will find a different expert with a different opinion on the extent of the fall in house prices. The One thing they all agree on is that house prices will fall.
This may sound all doom and gloom for the average house owner especially if they have plans for the equity they have built up over the past few years.Worst still if the equity that’s been built up over the last few years has already been spent.
This is when we will start to hear the old term “negative equity” being used more and more.
TIME FOR THE GOOD NEWS...
There are a number of options that can help turn a potential bad situation to your advantage.