There comes a time in most homeowner’s lives when they simply need more space. More space may be required, for example, if a homeowner is expecting another baby or looking to start a room sharing business. This leaves a homeowner with only two options - extend or move house.
With either one of these two choices, you'll get more living space. But a home extension is definitely a better option for homeowners than moving house. Here’s why.
A Home Extension Is Cheaper Than Moving House
When it comes to owning a bigger home, it all boils down to how much you can afford to spend. According to the real estate market today, extending a house is cheaper than moving. That explains why 42% of Brits opt for a house extension over moving to a new area.
However, that does not mean that building an extra room is a walk in the park. You’ll have to factor in planning permission, a property survey, architect fees, regulation checks plus the actual extension cost that ranges anywhere between £1 500 - £1 900 per meter square. However, overall, paying for an extension is better value for your money.
Boost The Value Of Your House
The good thing about extending your home is that you add value in the process. In most cases, homeowners get a return on investment when they decide to sell the house.
Unfortunately, most young people borrow money to move house and end up regretting this decision as much of the capital is spent on a deposit, agent fees, stamp duty, and removal company. Alternatively, financing an extension actually adds value to your property, so you will eventually see a return on the capital spent.
Extending Is Less Stressful
The good thing about building a new room is that it comes with zero heavy lifting or unpacking – at least on your part. A good construction company should be in and out of your home in a couple of days or weeks, depending on the project. As long as you choose a reliable construction company, the finished extension should be immaculate too, meeting your specific requirements.
Moving house, on the other hand, requires you to spend a lot of money on a removal company or expend several days packing, loading and unpacking all your belongings. This process comes with a considerable amount of stress especially when you have limited time on your hands.