Is It Better To Extend Or Move To A Bigger Home?

11th March 2020

Is It Better To Extend Or Move To A Bigger Home?

While you are unlikely to want to move home in the next few weeks, you may be thinking ahead as to what your next move will be. It is likely many people will use enforced downtime to evaluate their options, and it may be you conclude your current home isn’t big enough for your current or future needs.

If you are spending a lot of time at home these days, you will likely place your home under closer scrutiny than you have done of late. Therefore, it is not unreasonable for you to ponder if it is better to extend your current home or sell up and move to a larger house.

In recent times, there has been a growth in the number of people who decide to extend their current home. The price of property and a lack of homes being supplied to the housing market has helped many people conclude that it is better to stay where they are.

Do you love your area as well as your home?

If you are settled in your area, you like your neighbours, the commute is simple, and you have access to great schools and shops, there may not be a need to move. If the only issue you are unhappy with about your home is a lack of space, extending the size of your property can solve all your problems.

If you are in this position, you then need to consider what changes you can make and whether you can afford to make these changes. The current size, shape and layout of your home need to be considered, and you should also consider the cost of the building work. In the longer-term, the cost may be more than justified by an increase in the value of your home.

Of course, home improvements and extensions often have to be paid or at least budgeted for, in the short-term. This means your focus on the situation requires you to consider the upfront costs of the extension process.

Your current home may be ideal for you

If you can satisfy all these requirements, and there are no planning issues to contend with, it is easy to see why many homeowners decide to extend their property. Extending your home will disrupt your life in the short-term, but in the longer-term, you reap the benefits of staying in an area you love while increasing the value of your property.

Then again, there may be other reasons why you are happy to move. If you need more space at home, while you are also looking for a better commute or access to more appealing schools, looking for a home in a different area is likely to be a sensible decision.

Your needs, circumstances and budget are critical factors to bear in mind, which is why it is not possible to provide a universal answer. For some households, extending their property makes sense while for other families, moving to a new area is likely to be the smartest move they make.

If you plan on selling your home, contact Merrys, and we will be happy to provide you with a property valuation. If you have any property questions, contact us today, and we will do our best to ensure you receive the support and guidance you need to make an informed decision.