If you’re not sure whether to make more space or relocate, we’ve got some pointers to help you.
In life many people are faced by this issue at some point – your home simply doesn’t have the space you need anymore.
Perhaps your family is expanding, you’re working from home now, or you’re simply unable to create the kind of house you have always dreamed of because of a lack of space.
It seems as though you have to move, because your home just isn’t big enough. However, if you live in a great area and you’re settled, you might wonder about extending or converting your home, so that it is more spacious.
The result of this thinking is a bit of a conundrum. It’s a huge decision on the investment of your finances, time and efforts.
Whilst we can’t make the decision for you, we do have 5 important factors and suggestions for you to consider whilst you think about which way to go:
1. Extending To Boost Your Property’s Appeal
Extensions are becoming much more popular these days as homeowners prefer to move house less often, on average. Extending could well help you stay in an area you love, near neighbours you love and within reach of the local school. If you truly value your area, extending should be a real consideration.
Renovation can help you add value to the property too. A great way to research further in this area is to get some quotes on the cost and viability of an extension.
2. The Other Costs Of Extending
Extending a property could be a great solution to your problem, but it is important to remember the fact there are costs other than the finances. It can take a year or longer for some work to be done, weather depending. You may have to live elsewhere, put all your things in cheap self storage or live on a building site for a long time. If you’re imminently expecting a new baby, it’s worth thinking really carefully about whether or not you want to do this.
3. How About Not Moving Or Extending?
It’s a great idea to consider staying in your home and creating more space without any building work. If your issue seems to be too much stuff, why not make space with cheap self storage? This could be a great solution if your home is actually big enough, you just need more storage.
This is also worth considering if you want to take your time deciding about moving or extending, to make more space in the meantime.
4. Better Value For Money
Some homeowners who think an extension is the answer are surprised at the property they can get elsewhere for their money. Do shop around and go on some viewings to see what else you can get for your money. In some instances you might realise your current home is quite the goldmine. Alternatively, you may realise you can have a much bigger and better property for your budget.
5. Is Anything Possible?
In some instances, you could well be restricted in what you can do anyway, helping you make a decision. Maybe you can’t legally extend your property. Perhaps you are in a position where you can’t or shouldn’t get a mortgage for another property yet. It is important to look into all your options from a practical point of view to see if there are any large roadblocks that could make your decision a lot easier.
The 5 pointers above can help you get started making a plan to research this new stage of your life. It is a huge decision and it makes sense to explore all options, and take your time. Soon enough, with any luck you’ll be extending or moving your way to a happier home life.
