Home extension or house move?
There are many reasons you might want more space in your house. Perhaps you’ve recently shifted to working from home as a result of the Covid pandemic and need an extra room for a dedicated office. Maybe you have a growing family, or it could be that you are just finding that your current house is no longer big enough to hold all the things you now own.
Whichever is the case, there are two solutions you’ll probably want to consider: moving house or extending your current one. This month, we’ll be examining the pros and cons of each and trying to answer the question: is it worth moving house or does it make more sense – both financially and from a practical point of view – to go for a house extension instead?
If you don’t have the space for a house extension, then you really have no choice; if you want more space, you’re going to have to move house. But what if you do have a choice?
Pros: Buying a new house gives you the chance to start again and make sure that everything is right from the outset. It might also give you the opportunity to improve other areas of your home life, such as getting somewhere with a bigger garden or a better kitchen. Basically, if you’re looking for a big change in your life, then a new house is more likely to do that than if you adapt your current home.
Cons: Both options are inevitably going to mean disruption, but the disruption caused by a house move can go on and on. It’s not just the move itself, but also all the administration involved! According to a Legal & General survey, 57% of us reckon that moving house is the most stressful thing we do in our lives. And while both options are going to be costly, much of what you’ll be spending on a house move – solicitors, stamp duty, estate agents fees, surveys and searches, your removals company and so on – is effectively ‘dead’ money that you won’t see again.
Pros: While there’s no denying that an extension can be a costly business, the good news is that in most cases you’ll be investing in your property and adding to its value in the long run. However, it’s important that you do your sums first – and check local property prices – to make sure that the value you’re adding will be more than what you’re spending. And as you’re having something new built, you can make sure that you take advantage of the latest advances in insulation and building regulations so that you won’t be adding significantly to your home’s running costs. Meanwhile, if you live in an area you know and are comfortable in, an extension also naturally means that you’ll be able to carry on enjoying it – moving house is nearly always a step into the unknown.
Cons: Having an extension built is going to involve lots of noise and mess, and there’s always the potential for things to go wrong. It’s best to make sure you get a reputable company to do the work, someone with a good local reputation and who you can trust to deal with any problems that do arise. The other downside is the potential disruption that might be caused to your neighbours, so make sure you do everything you can to help them through the process as well.
So which is better?
There are too many variables to provide a definitive answer to this question, including your own personal preferences and financial situation. But if you have the right space available on your land, an extension will usually be a better use of your money in the long run and will provide you and your family with the comfort and continuity of being able to carry on in a house where you may well be settled and happy.
Here at Highline Design & Build, we’ve spent years helping customers in and around Egham, Twickenham and Weybridge to improve their homes. From house extensions and loft conversions to kitchen installations and garden rooms, we have the experience and knowledge to help you make the most out of the space that you have in your home.
Contact us now for a free home visit and quote, and start dreaming of how much better your home could be.