Move House Or Extend, The Pros And Cons Of Each

 

As your family begins to grow, you might find that your house begins to feel smaller. If you find yourself in this position there are really only two options; you could expand your house or you could move to another house.

You might find that the choice to move or expand is made easier if, for instance, you find yourself in a flat without a garden and a growing family. But, if your own a house and simply need a little extra space then the choice could be a little more difficult. Take a look at the pros and cons of moving as opposed to building additional rooms to your home:

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Building on

There are a number of factors to consider when you decide that you want to build onto your property. Your location and budget are two of the most important things to consider before taking a large building project. Ensure that you take a look at the following pros and cons of building onto your property before making this big decision.

Pros

  • If you live in an area which is in high demand then it could be worth your while to expand your property. Adding an additional room or basement to your property will ensure that your secure a higher selling price for your property later on. See this site for more details on how a loft conversion can improve the value of your home: www.northlondonloft-conversions.co.uk
  • If you have enough space to extend your property without losing too much of the land you are situated on then it is recommended you do so. This will allow you to still be able to maintain a serene garden while adding extra space to your home.
  • You can decide how you want to build. It will be completely up to you how you want your new home addition to look. You have the freedom to make sure that your new room is balances and is equipped with everything you need. Make sure that you keep balance to your home. A beautiful home with no garden can be less attractive than a smaller home with a garden.

Cons

  • You may not be able to build on due to strict regulations set out in local building bylaws.
  • You might over capitalize on your property. Make sure that you do all your homework before building onto your property. By making sure that you know what the houses around your property have recently sold for you will be sure that you do not build beyond the expected value of your property.
  • The cost of the building an extension, while cheaper than buying a new property, could run into the thousands, make sure that you are prepared for these costs.

Moving out

If the costs involved in building onto your property are scary then you might want to consider rather moving from your current property to a new one which is big enough to accommodate your family. Take a look at the following pros and cons of moving home.

Pros

  • If you are thinking of moving home you might want to take the opportunity to look for a suited place closer to your work or even close to the children’s school. This would be a great opportunity to do so.
  • You can look for a house which perfectly suits your needs. If you need an entertainment area or an extra bedroom, then this is a great time to look for the property which would best fit into your life.
  • Moving house is a great time for you to clear out. Over the years we all accumulate a lot of stuff. When you move house you can take the opportunity to get rid of some items which you no longer use. These can be donated to charities or sold.

Cons

  • You might find that the costs of buying a new home can be quite costly. Make sure that you are prepared for these costs.
  • Depending on where you buy, you may have to settle for something which does not quite meet your requirements. You might have to buy a smaller house with plenty of potential and later on send extra time renovating for the house to suit your needs.
  • If you do not know what to look for before buying a house you could land up with more problems than house. A leaking roof, aging pipelines, and rotten floors are three of the most important things to look at before buying a house.

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