What, I wonder, will be the impact on our homes? Will we find the courage to give our homes some character instead of painting it neutral so as to attract a buyer?
When you think about it, your house is your home and not a financial asset, so why treat it as if all that matters is finding a buyer, maximising its resale potential. I say maximise its value as a sanctuary from the world outside.
Make it sing to you or provide calm space that lifts your mood; a warm glow when you approach your front door.
If you love it you won’t want to leave it. Leaving it is expensive, think of all those legal and estate agents fees, then there is the cost of moving. The stress and disruption!
What you may ask has this to do with financial planning?
The two assets that most of us hold are our houses and our pension funds. One is to enjoy now and the other when we no longer earn. One is a lifestyle and the other a lifeline. Both part of financial planning. Both part of Inheritance Tax Planning. Both key skills for financial planners.
Later Life Care
On the same theme, here’s a thought for providers of retirement homes.
The baby boomers grew up in a time when homes reflected the new freedoms and colour ran a riot through our lives.
Why then give us Magnolia?