It’s the time of year when people start thinking about their house, and how suitable it is for their lifestyle. You’ve just spent Christmas with all the family visiting, squished into a dining room and sitting on office chairs and beanbags to fit in, or crowded elbow-to-elbow into a living room to count down the new year. All of it made worse by the fact most of us have spent the last 2 years working from home and feeling a bit of cabin fever. No one would blame you for feeling a little crowded!
So now you’re looking for a bit more space in your life, and the big question comes up. Do you extend your current home, or do you up sticks and move to a new one? It’s a difficult one, and a lot of the answer depends on your individual circumstances. But there are a few things we can share that might help you make the right decision for yourself and your family.
Extending
Extending has become one of the most popular ways to improve your home over the last decade, and with the pandemic slowing down house sales more and more people are choosing to stay in their family homes while making a bit more space. In fact, according to surveys from 2020, 41% of homeowners would rather build an extension than move house, with 19% of homeowners expecting to build an extension in the next 3 years. And if designed correctly, an extension can give you an awful lot of added space for much less than the cost of moving to a bigger house. It also allows you to tailor that space to your own needs, so you can customise your home and
Another big benefit to extending your home is increasing its value, so if in the future you decide to sell, you can make a profit on what you paid for it. For example, adding in just 1 extra bedroom can increase the value of your home by around 15%. A loft conversion can add up to 21%, and building a basement can add an extra 15%. These types of extension projects are almost always a benefit to your family as well, which is why they’re some of the most common extension projects.
One thing to bear in mind is that an extension isn’t just gaining space in your home. That space has to come from somewhere, and it’s coming from the exterior land that you own. So when you’re planning which part of your home to extend, take note of what you’re gaining as well as what you’re losing. The likelihood is it won’t impact the value of the property too much to lose a bit of green space, but it may change the value to your family and lifestyle while you’re living in it.
Moving
Of course, sometimes an extension just won’t cut it. If you’ve outgrown your family home and you need a lot more space, you need to change areas or you just don’t want to go through the process and disruption of an extension, then moving could be the better option. Just bear in mind that it can actually work out to be more expensive than building an extension, even though it might seem cheaper on the face of it. Especially now, when the housing market is in turmoil and prices are just going up and up.
Planning out a budget of what you can spend and comparing it to the property market can give you a good idea of whether it would be more cost-effective to move or to extend. For example, if you’re looking to move areas then you may find houses are slightly cheaper, or you might realise that by staying put and extending you’re actually increasing the value of your home for the future. Planning out your budget and comparing prices is often the deciding point between extensions and moving, and means you’re ready to tackle whichever option you go for.
At DNA Brickwork and Builders a lot of our work is based on extensions, as well as building the odd new dream home when extending just isn’t enough! We can work with you from the very beginning to design and build the perfect extension for you and your family, adding value to your home and your life. Our experts are with you every step of the way from drawing up plans to applying for planning permission, managing timelines and putting in the last few finishing touches, so all you need to do is figure out what to do with all of your extra space! And because all of our work is bespoke, you won’t get any pre-fab builds or cookie-cutter extensions that look like everyone else’s – just a unique extension that reflects you to a T. If you would like to know more, just get in touch with the team today.
