Visit these ‘design hotels’ while staying invested in real estate
Who else out there has been bitten by the travel bug? (Scroll down for the list of our most recent favourites and some #iphonepics!)
Travel has always been our number one source of inspiration. When we’re feeling ‘blah’, overworked or less creative than usual, there’s no better cure than a plane ride to a different city or country. Now that we’re back from our recent trip to the UK, we’re mega motivated to decorate our clients’ homes but also finish our own!
In our youth, we did our fair share of couch surfing and have stayed in enough hostels to be able to appreciate a little bit of luxury travel later in life. Now, as hotel lovers, a big part of a great trip is seeing how other designers and creatives use colour, fabric and art to create an environment that’s so different from what we experience at home.
We stayed in thatched cottages, castles, inns & old pubs from Glasgow to London — each was uniquely amazing.
It also got us thinking about how our desire to travel internationally again must be shared with a lot of our fellow Canadians and how this might even affect our local housing market. RBC states, “Canadians, on the whole, are in remarkably good financial shape considering the severity of the pandemic’s economic shock. While mortgage debt is rising fast (by more than 10% y/y most recently), mortgage delinquency rates remain historically low.
“Households’ net worth is at a record high and savings have been massive in the past two years thanks to government support and fewer places to spend. Some of those savings flowed into the housing market. But we expect there will be less extra cash available in the year ahead as restrictions ease and spending patterns normalize. Many Canadians will want to reallocate budget room on things like travel and dining out at the expense of housing investment.”
We’re noticing our own household budgets changing as we spend more on ‘extras’ outside the home. These spending changes could create an opportunity for first-time buyers who have managed to save up during the pandemic by jumping in as demand starts to soften a bit. While we’re believers that travel and culture are a big part of having a fulfilling life, watching your hard-earned savings get eaten up by fancy restaurants and weekends away is something that can happen quickly.
So perhaps it’s time to consider how you can have the best of both worlds (if you’re in the fortunate position of having some equity or money in the bank). Jump into the change you’ve been considering sooner rather than later. Try rethinking how much space you need and opt for a smaller home or condo that’s easier (and cheaper) to maintain. This way you stay invested in the market but won’t have to miss out on opportunities to travel and experience new cultures, allowing you to truly live your best life!
Here are our top recommendations for where to stay in the UK: