Thoughts

Why more homeowners are extending or converting over moving

By  | 

Take a look at your home. You have plenty of memories that have been built up over the years in this house. But when you get more additions to the family you are going to end up needing more space. Now, most people would start looking for a bigger house. However, if you’re looking to save money, you may want to consider extending or converting your original home. Here are the reasons why you may want to do so.

Expensive areas

When you are living in a high-end area of a major city, like London or Edinburgh, it may not be an actual viable option to move. With some homes, for instance in Cambridge, costing around £400,000 to own, this is about 12 times more than the average wage and so are reasonably unaffordable unless you are earning substantially above what the normal worker earns. So, instead of facing the harsh reality of searching endlessly for an affordable home, it may appear worth it to simply expand on your own, for instance with a storage space from Instaloft

Boosting a home’s value

A recent Anglian study has shown that homeowners tend to extend their own home because it actually adds to the home’s overall value. An example of this is that if you get a loft conversion then this could actually add around 20% to a home’s value. Not only that because it can actually give you the space you need in the process. If you focus on your ground floor then this can help you with social events, especially if you create an open plan kitchen or dining room. Just keep in mind that you may not recover the entire cost when you finally sell. It depends on how much your home is estimated to be worth.

Additional Costs

When you move from one house to another, you need to remember that you are basically packing away your entire life into a box. You can’t do this on your own. Instead you are going to have to hire a moving company to sort out the boxes and maybe even take time off work to get the move organized. This means you are going to be spending more to get your new life in order than if you just wanted a simple renovation. Don’t waste your time and money. Instead, focusing on a renovation can help you avoid any additional costs. You just need to consider the cost and time of the project at hand. 

Small modifications are available

When you think about an extension, you may think of a giant construction that adds to your house. But honestly, extensions don’t need to be that drastic. If you enjoy the look of your home, but think it just needs a lick of paint or even the addition of a garden or a basement, these structures can be easily added to your home. You just need a few weeks to consider what your colors are going to be and how you are going to use them. Make sure you always have a plan before you change up your home. That way you won’t make any big mistakes that could devalue your home.

You must be logged in to post a comment Login

Leave a Reply

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.