Is it Better to Extend your Home or Sell and Buy a new one? (Real Estate - Real Estate Agents)

Item ID 129803372 in Category: Real Estate - Real Estate Agents

Is it Better to Extend your Home or Sell and Buy a new one?

We’re asked by quite a lot of clients about house extensions, and whether it’s better to invest in one now or sell up and buy a new home that has the space they need. There’s no definitive answer to this but to help you make a decision, we’ve brought some of the factors you need to think about here. While it all depends on your situation, and the choice is personal to you, the below points are a good starting point.

How much will it cost and what will the return be

One of the biggest factors is money. There are plenty of costs involved in house extensions, from design and architect fees, construction costs and planning permission to name a few. The bigger the project, the more it will cost. There’s also the disruption it will have on your daily lives; loft conversions, digging out the basement or a conservatory – they’re all going to have an impact.

Get an idea of the costs beforehand through quotes from various companies and contractors to know how much it will cost and then measure that up against the value it will add to your home when it’s time to sell.

If you’re looking to add extend purely to help your home sell, then you have more factors to consider, such as the area your home is in, who’s likely to buy it and what they will want from it. If you are considering staying and getting some good use out of it first, that will make the investment more worthwhile to you.

What extensions are available?

Before you commit to any kind of extension, think about what your options are. A first floor flat as fewer options compared to a house, for example, but a house with a small or no garden has limitations.

Conservatories or extending into the garden is a popular choice depending on the layout and what you want from your home but don’t forget that when it’s time to sell, buyers may value the outdoor space more.

Loft or basement conversions are also an option in some cases, and while they can be expensive they can add a lot of space to a property if done properly.

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Last Update : Apr 26, 2018
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Item  Owner  : Malcolm White
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