The housing market is going through a period of uncertainty, and that’s encouraging many would-be buyers and sellers to adopt a ‘wait and see’ approach. House sales might be down in certain regions, but it’s at times like these when many homeowners decide to extend their existing properties instead of moving at all. The ultra-wealthy of London choose to build underground palaces, while many homes across the UK benefit from more traditional extensions. The reasons for building are broader than only financial concerns, however. In this post, we take a look at some of the reasons you might consider extending your home.
When many of us reach a certain age, we choose to settle down and start a family. But ‘settling down’ doesn’t have to mean moving into the countryside and becoming a farmer. Employment is likely to keep us near cities, meaning that most people end up starting families where we already live – particularly if we like the area. Likewise, if you live in a desirable area you probably want to stay put rather than move home. The only problem is that kids take up space!
In this case, it might be that an extension is the answer. Depending on your situation and the property, you may be able to add two or even three rooms onto your existing home, allowing for more bedrooms and an even larger family. This is particularly true for established families, where children are becoming teenagers and prefer to have their own space instead of sharing with siblings.
Deciding to move house is a decision with plenty of baggage attached. It’s an expensive endeavour, even if you’re moving into a house of similar value. Solicitors, mortgage advisors, surveyors and moving companies all need to be paid – after the taxman, that is. It adds up to make a move more challenging. Writing for the Guardian, Sandra Haurant explains how to weigh up the decision:
“Comparing the costs of moving and extending your house is not an easy task. To get an idea though, you could ask for estimates on building work and add that to the current value of your home and see what sort of properties you could buy for a similar budget. You could also chat to local estate agents to get an idea of what kind of extension, if any, would appeal to buyers in your area.”
When we live somewhere for a number of years, it becomes more than just a building; it becomes our home. A reluctance to move on, even if you need the space, is completely understandable. Many people in this position decide that they like their current place so much it makes no sense to go anywhere else. An extension, in keeping with their current home’s aesthetic, is infinitely preferable to searching for a replacement. Similarly, an extension is a chance to show some creative flair (if planning permission allows for it). It’s the chance to make the addition to the building that you’ve always wanted to make.
If you need more space but don’t want to move, get in touch with us today about adding an extension to your home.