Is It Better to Move House or Extend?
There are lots of reasons why you might need more space in your home; perhaps you have a growing family or maybe you need somewhere to run your home business. Regardless, you will have a big decision on your hands about whether you should move house and up-size or build an extension. There are pros and cons to each, which you need to carefully weigh up before making a final decision. You may also require some advice regarding residential developments, to help educate yourself as much as you can. After all, the only person that can choose how you proceed is you.
Extend or Move? Consider your options
While building an extension can be expensive and exhausting, it is usually cost-effective as you will likely make your money back (and then some) when you do eventually sell up. If you do not want to commit to your current property for the long-term, moving would be a better option, but then you need to consider the removal costs and deposit.
There are plenty of options when it comes to your building materials and you will most likely require a professional to help you with the construction. Not only will you need to consider the interior décor, you’ll also have to think about things like the foundations of the new build so that you don’t end up with serious damage to the structure of your property in the long term. You’ll also need to think about how an extension will implicate the rest of your property; will you lose parking space or your garden? The final result needs to be a rational home that suits your family.
The location of your home and the level of demand for this type of work in your area will have a big impact on the financial side of things. Unless you have the cash to pay upfront, both options will depend on the mortgage lenders and how much they’ll allow you to borrow. Do you research and get some quotes so that you are in a better position to make a suitable decision.