For many, no matter how happy you have been in your home, there comes a time where space becomes a bit tight or tired. It may be that your children need more space, an elderly relative is going to move in with you or you just want to live in a more modernised space. Whatever it is, the chances are you will be asking yourself whether its time to move, or, whether it’s time to build an extension and invest in the place you’ve called home for so many years.
According to a report published by AMA Research in 2017, UK homeowners are increasingly adopting a ‘don’t move, improve’ mindset. The number of home extensions is on the rise across the country and homeowners are increasingly choosing to extend their homes rather than sell. People are spending more on improving their kitchens and bathrooms and there has also been a gradual rise in homeowners extending their properties with single storey extensions.
Although it can be tempting to move, with too many unknowns about the state of the property market post-Brexit, many people are choosing to stay put until the current economic uncertainty we are experiencing has eased.
Of course, in some circumstances extending your home may not be an option, for example, if you want a garden but currently live in an apartment block, but where it is, the opportunities are endless.
If you are thinking about extending your home, here are our three compelling reasons why you should give it some serious thought:
- Stay in a home that you love: Many of us would have lived in our homes for many years. The kids may have been born there, taken their first steps in the hallway or you live in an enviable location which would be hard to beat. But, if you have a house with garden or loft with enough headroom, a home extension is a real possibility. In the space of weeks, a loft can be converted into a separate living space for teenagers or a master bedroom with an en-suite. Whatever your needs are, the chances are your existing home can be tailored to meet your specific needs.
- Avoid the cost and stress of moving: Moving home is undoubtedly one of life’s most stressful events. The average cost of moving to a new house in 2018 is currently £10,210 based on a house which costs £224,000. This number is easily doubled based on the average property price in London. The cost of estate agents, surveyors, removals, stamp duty and mortgage fees, easily add up leaving you short of thousands of pounds before you’ve even picked up the keys. Not only is it expensive, but the process alone is enough to put many people off. Home extensions provide you with a way of giving you the space that you need without needing to pay more than you need to.
- Increase the value of your home and reduce the costs: If you’re smart about the type of extension you’re looking to build, the cost of doing so can add thousands more to the value of your property. For example, generally four-bedroom properties are worth significantly more than three bedrooms and additional bathrooms can pay back what you spend too.
If you do decide to extend your house, consider working with your contractors to understand what type of materials they are likely to be using. Underfloor heating, double glazing and LED lighting can also contribute to a reduction in the running costs of your home.
You can find out what the return on investment cost may be on your proposed extension by asking a friendly estate agent to value your property based on the completed works.
If you’ve never undertaken building work before, deciding to extend your home can be a complicated and stressful decision to make. Finding the right builders to design and construct your extension is a crucial part of making sure the project is as successful as possible.
Empire Building Solutions has over 25 years’ experience specialising in loft extensions, home extensions and refurbishments as well as carrying out all aspects of general building and renovations.
Covering all parts of London and Surrey, our highly skilled and professional team can provide every aspect of the building process from initial conception and design through to building and finishing. Contact us today for your free consultation.