Finance Management: Knowledge is power

People are living in credibly hectic lifestyles and this lack of spare time means many put off reviewing their finances. Keeping on top of your money matters should be a priority and doesn’t necessarily have to be a labourious, time consuming task.

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The reality is that circumstances change – prices fluctuate, our personal situation change, such as jobs and family affairs. So being equipped with knowledge about the health of your finance is a necessity, so you can react should circumstances in your life change.

Top financial priority

  • Paying down debt – mortgage, credit, loans etc
  • Building savings – financial savings, energy savings, etc
  • Paying bills – rent, energy, utility, tax, etc
  • Essential living expenses – food, clothes, health care, etc
  • Lifestyle expenses – holiday, entertainment, hobby, etc
  • Investment – cash, securities (equities, bonds and derivatives), commodity, etc
  • Retirement – pension, personal plan, annuity, etc

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

 

Brexit: Things that will change or remain after 31 January

The UK formally leaves the European Union (EU) at 23:00 on Friday, 31 January. But it will immediately enter an 11-month transition period.

During the transition the UK will continue to obey EU rules and pay money to the EU. Most things will stay the same but there will be some changes:

Things that will change

  1.  UK MEPs lose their seats See the source image

  2. No more EU summits

  3. We will be hearing a lot about trade

  4. The UK’s passports will change colour British passports

  5. Brexit coins See the source image

  6. The UK’s Brexit department shuts down

  7. Germany won’t extradite its citizens to the UK

Things that will stay the same at least until 31 December 2020

  1. Travel People at an airport walking under a sign saying "arrivals from the European Union".

  2. Driving licences and pet passports See the source image

  3. European Health Insurance Card (EHIC) A hand holding a European Health Insurance Card

  4. Living and working in the EU See the source image

  5. Pensions

  6. Budget contributions

  7. Trade

Source: BBC News

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

Property Refurbishment: Should I improve or extend?

When undertaking property refurbishment, to make the decision of whether to improve or extend your existing property there are things you have to consider with cost being top of the list.  You will need to consider what your requirements really are.

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For example, here are some of the reasons why you may consider carrying out improvement and alteration, as opposed to building an extension – to:

  • Create a larger or open plan kitchen
  • Enlarge the dining room
  • Enlarge the living room or create an open plan living space
  • Create space for en-suite bathroom to the master bedroom
  • Create a utility room
  • Create a play room
  • Create more storage space
  • Create a grand entrance hall
  • Create additional bedroom

See the source imageMany properties may offer the space to achieve some of the above without the need to extend. Improvements and alterations may cost considerably less and could be carried out without the necessity of obtaining planning permission, although it is advisable to contact a professional builder or structural engineer to ascertain the structural implications when planning to remove dividing walls or chimney breasts, etc. Depending on the age of the property, and other factors associated with, for example, historic buildings, you may need to contact the planning office to ensure that you do not need planning permission to carry out the work.

If you are in two minds about extending or improving your property, it could be beneficial from a financial point of view to start off by making small non-structural improvements. This should in any case add value to your property and make it more desirable. It will also give you the opportunity to see if it meets with your requirements, and if it doesn’t you can then plan for the next option.

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

Does ‘Building Regulation’ apply to internal alteration within my home?

This is one of the major question home owners ask when planning to make alteration to their home for various reasons such as open plan living, bigger kitchen, knocking down internal walls etc.

Yes – Building Regulation is most likely to apply. 

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The UK building regulations specify the forms of alteration that amount to ‘material alterations’ and are therefore ‘Building Work’, taking account of the potential for the proposed work to adversely affect compliance of the building with specific requirements, such as: if your project involves alterations to the structure of the building (e.g. the removal or part removal of a load-bearing wall, joist, beam or chimney-breast); if fire precautions either inside or outside the building may be affected; or if it will affect access to and use of the building. On the assumption that the regulations do apply, all the work involved in the alteration must comply with all the appropriate requirements.

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You should always be aware of the fact that although the work involved in a building project may not amount to building work and consequently not be subject to the building regulations, there are other statutory regulations that it may be subject to. If the proposed project could result in a dangerous situation or damage to your own property or that of your neighbour, it may also result in your own and/or your neighbour’s building no longer complying in some way with the building regulations.

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Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk

How to turn your home into a luxury property for less

Fancy making your home a luxury property for less than you imagine? Get inspired by some tips in creating a glamorous living space;

Stunning  seating 

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A luxurious living room needs a variety of seating which is both comfortable and stylish, with the sofa being the centre of attention. Shop for a classic, well upholstered furniture with a look of timeless and a distinguished design like leather Chesterfields or clubSee the source image armchairs. If you got space then go for an ergonomic modular corner sofa. For the ultimate in decadent seating, choose a sumptuous chaise longue or a classic recliner leather armchair.

Luscious lighting

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With the right lighting, your living room will have a warn, intimate feel. Nothing shouts luxury more that a statement chandelier. This elegant form of lighting has a ‘wow’ factor and it doesn’t have to look traditional; there are plenty of striking contemporary designs available. You will need to supplement the chandelier with other forms of lighting, place wall lights on either side of a fireplace, table lamps around the edges of the room, and a floor lamps behind your main seating area. Use accent lighting to highlight favourite pictures, ornaments or other treasured objects.

Fabulous fabrics

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In a luxurious living room, you can really go to town with fabrics. Choose sumptuous velvet, satin, linen and silk rich in autumn colours like purple, raspberry or chocolate. If you prefer more subtle colours, go for sophisticated neutrals and muted tones of blue, coffee or grey. Pile the sofa high with cushions of different textures, the more the better, and add a soft throw or two to ring the changes. Dress your windows with extravagant full length curtains or softly folding Roman blinds in prints or plains.

Wonderful Walls

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Be bold with colour and pattern of wallpaper in your living room. There are amazing designs with striking patterns you can choose from such as over-sized florals on one feature wall or pick a subtle design for all your walls. Paint is still one of the cheapest ways to give rooms new look and it’s easy to create a luxurious effect using metallic shades on a feature wall, picking out decorative details with gold lustre, or adding stencilled patterns.

 Fantastic floors

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A beautiful, plush carpet will automatically make your living room feel and look luxurious adding pattern, texture, colour or elegance.  However, as this is generally a high traffic area, you need to get the balance right between durability and quality.

Accessorise

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No luxury living room is complete without a feature statement piece such as fireplace, mirror or artwork. Finish off by adding a bit of sparkle with gold vases, lampshades, diamante-edged photo frames and a mirrored table.

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Thinking of buying a property?

Need help with property purchase in the UK from start to finish, Please Contact me

Dennis Bebo – MSC, BSC, DEA, CeMAP

TA DenEco Consultancy – www.deneco.co.uk