Is it better to move house or extend
Should You Move Or Extend?
The Pros And Cons
When confronted with the need for more space in our homes, many of us find ourselves at a crossroads: to move or to extend?
It’s a weighty decision, requiring thoughtful consideration of several factors. Each option has its own set of advantages and drawbacks. To help you decide the best course of action, I’ve compiled a list of the pros and cons of both moving and extending your current property.
Moving House - The Allure of a Fresh Start
Moving to a new house can be an exhilarating experience. It offers the chance for a complete change of scenery and a fresh start in a new community. Let’s delve deeper into the advantages and disadvantages:
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Pros Of Moving House
Relocating to a new neighbourhood or even a different city can present new job opportunities, schools, and social circles.
If your current home layout doesn’t fit your needs, moving allows you to search for a property that better aligns with your specifications without the hassle of construction work.
Increased Property Value:
If you’ve maintained your home well, you might be in a position to sell it at a profit, enabling you to invest in a bigger or better-situated property.
Cons Of Moving House
Moving house can be expensive. Between estate agent fees, stamp duty, and moving costs, the bills can quickly add up.
Leaving a home filled with memories can be emotionally taxing. Furthermore, the moving process itself – packing, unpacking, and setting up in a new place – can be stressful.
he property market can be unpredictable. Your house may not sell as quickly as you’d like, or you might struggle to find your ideal new home within your budget.
Extending Your Current Home - Growing Where You're Planted
Rather than seeking a new address, some choose to expand their current living space. This can be achieved through a variety of means such as loft conversions, rear extensions, or even basement excavations.
Pros Of Extending Your Home
When done correctly, extensions can add significant value to your property. It’s a worthwhile investment that can offer returns when you decide to sell.
Extending allows you to tailor your existing space precisely to your liking. Whether it’s a bigger kitchen, an extra bedroom, or a specialised workspace, the choice is yours.
*No Need to Relocate:
You can avoid the hassle and upheaval of moving. You’ll remain in the same neighbourhood, keeping the same neighbours, schools, and local amenities.
Cons Of Exntending Your home
Construction can be disruptive. You’ll have to tolerate noise, mess, and potential complications that come with building projects.
However, the emphasis here is on ‘well-designed’ and ‘high-quality’. A rushed, poorly planned extension can detract rather than add value. Hence, it’s paramount to work with reputable professionals who can ensure the highest standards for your project.
There’s a risk of overcapitalising, which means spending more on the extension than what it adds to the property’s value. It’s essential to get expert advice and research before undertaking significant renovations.
There’s only so much you can extend before running out of garden or plot space. This can limit the size and scope of your project.
The Final Verdict
The decision between moving or extending is deeply personal and based on individual needs and circumstances. Here are some main points to keep in mind:
- Budget: Weigh the costs involved in both options. Sometimes it might be more economical to extend rather than incur the expenses of a move. However, if you’re looking at substantial extensions, moving might be the more cost-effective choice.
- Future Plans: Consider how long you plan to stay in your current property. If you’re planning on relocating in a few years, it might not make sense to invest in extensive renovations now.
- Emotional Attachment: If you’re deeply attached to your current home or neighbourhood, extending might be preferable. Conversely, if you’re craving change, relocating might be the best option.
Ultimately, the decision lies in what aligns best with your family’s needs, financial situation, and long-term goals. Whatever you choose, make sure it’s a choice you’ll be happy with for years to come.
Whether it’s the allure of a fresh start in a new home or the desire to mould your existing space into your dream dwelling, both options have their merits. Take your time, do your research, and most importantly, follow your heart and instincts.
If you are still interested in finding out more about house extensions, consider reading our blog on >> House extensions that don’t require planning permission