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(637 words)
The Rising Cost of Staying Put: Why Homeownership Isn’t Getting Any Cheaper
Property Matters – Tuesday 24th June at 1pm
Had you thought, when looking towards your own home, what the true cost really is?
The cost of keeping a home in good condition has surged. Ongoing materials shortages, higher import costs, and a lack of skilled trades have pushed up the price of even routine repairs – from roof tiles to replacement windows. For homeowners, delaying maintenance can be a false economy. Poorly kept properties risk a reduced sale value and may require costly remedial work just to bring them up to standard before going on the market. Regular upkeep isn’t just about comfort – it’s now essential to protect long-term value.
Join us for Property Matters this Tuesday 25th June at 1pm, where Gareth Wax, Hamish McLay and Wendy Gibson, of The First Time Buyers Club, will be discussing the mounting pressures facing today’s homeowners – and why simply staying put is no longer the cheaper option it once was.
Mortgage interest rates
These are said to be coming down – yet for many homeowners, that’s not how it feels. Those who aren’t moving but are simply renewing their mortgage are often facing higher monthly payments than when their original deal was set. The result? A growing number of owners are caught off guard by rate rises that don’t match the headlines.
Service charges and ground rents
No longer just a leasehold problem. Across the UK, homeowners on new-build estates are finding themselves tied into estate management fees – even for freehold properties. Developers are increasingly retaining ownership of communal areas like roads, green spaces and drainage systems, then passing maintenance to private management companies. Homeowners are billed annually, often with little say and rising costs. It’s created what some campaigners call ‘fleecehold’ – freehold in name, yet anything but in practice.
Energy costs
These aren’t just about rising electricity and gas bills. Pressure to meet net zero targets is leading to tighter regulations, with proposed changes to EPC standards set to hit both new builds and rented homes. The government has hinted at more rigorous EPC requirements in future – despite scrapping the 2025 minimum C-rating target for landlords – and the cost of compliance will fall squarely on homeowners. Upgrading insulation, heating systems or glazing doesn’t come cheap, yet the direction of travel is clear: properties that fail to meet the mark risk becoming harder to sell or let.
Council Tax
Climbing steadily throughout the country – and the pressures behind it aren’t going away. Local authorities are facing severe financial strain, with the County Councils Network warning that 18 of its members would be effectively bankrupt without current borrowing flexibilities, and another six not far behind. Years of underfunding, rising adult social care costs, and inflation-hit contracts have left councils with little choice but to raise council tax to the legal limit. For homeowners, that means yet another cost rising faster than inflation – and with little improvement in local services to show for it.
Maintenance and Repairs
The cost of keeping a home in good condition has surged. Ongoing materials shortages, higher import costs, and a lack of skilled trades have pushed up the price of even routine repairs – from roof tiles to replacement windows. For homeowners, delaying maintenance can be a false economy. Poorly kept properties risk a reduced sale value and may require costly remedial work just to bring them up to standard before going on the market. Regular upkeep isn’t just about comfort – it’s now essential to protect long-term value.
Watch live on Tuesday at 1pm on our YouTube channel:
https://www.youtube.com/@SpillingTheProper-Tea
PS:
For content enquiries:This email address is being protected from spambots. You need JavaScript enabled to view it.
For podcast/media info:This email address is being protected from spambots. You need JavaScript enabled to view it.
Had you thought, when looking towards your own home, what the true cost really is?
The cost of keeping a home in good condition has surged. Ongoing materials shortages, higher import costs, and a lack of skilled trades have pushed up the price of even routine repairs – from roof tiles to replacement windows. For homeowners, delaying maintenance can be a false economy. Poorly kept properties risk a reduced sale value and may require costly remedial work just to bring them up to standard before going on the market. Regular upkeep isn’t just about comfort – it’s now essential to protect long-term value.
Join us for Property Matters this Tuesday 25th June at 1pm, where Gareth Wax, Hamish McLay and Wendy Gibson, of The First Time Buyers Club, will be discussing the mounting pressures facing today’s homeowners – and why simply staying put is no longer the cheaper option it once was.
Mortgage interest rates
These are said to be coming down – yet for many homeowners, that’s not how it feels. Those who aren’t moving but are simply renewing their mortgage are often facing higher monthly payments than when their original deal was set. The result? A growing number of owners are caught off guard by rate rises that don’t match the headlines.
Service charges and ground rents
No longer just a leasehold problem. Across the UK, homeowners on new-build estates are finding themselves tied into estate management fees – even for freehold properties. Developers are increasingly retaining ownership of communal areas like roads, green spaces and drainage systems, then passing maintenance to private management companies. Homeowners are billed annually, often with little say and rising costs. It’s created what some campaigners call ‘fleecehold’ – freehold in name, yet anything but in practice.
Energy costs
These aren’t just about rising electricity and gas bills. Pressure to meet net zero targets is leading to tighter regulations, with proposed changes to EPC standards set to hit both new builds and rented homes. The government has hinted at more rigorous EPC requirements in future – despite scrapping the 2025 minimum C-rating target for landlords – and the cost of compliance will fall squarely on homeowners. Upgrading insulation, heating systems or glazing doesn’t come cheap, yet the direction of travel is clear: properties that fail to meet the mark risk becoming harder to sell or let.
Council Tax
Climbing steadily throughout the country – and the pressures behind it aren’t going away. Local authorities are facing severe financial strain, with the County Councils Network warning that 18 of its members would be effectively bankrupt without current borrowing flexibilities, and another six not far behind. Years of underfunding, rising adult social care costs, and inflation-hit contracts have left councils with little choice but to raise council tax to the legal limit. For homeowners, that means yet another cost rising faster than inflation – and with little improvement in local services to show for it.
Maintenance and Repairs
The cost of keeping a home in good condition has surged. Ongoing materials shortages, higher import costs, and a lack of skilled trades have pushed up the price of even routine repairs – from roof tiles to replacement windows. For homeowners, delaying maintenance can be a false economy. Poorly kept properties risk a reduced sale value and may require costly remedial work just to bring them up to standard before going on the market. Regular upkeep isn’t just about comfort – it’s now essential to protect long-term value.
Watch live on Tuesday at 1pm on our YouTube channel:
https://www.youtube.com/@SpillingTheProper-Tea
PS:
For content enquiries:
For podcast/media info:
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