When you’ve become frustrated at how small your home feels, there are two things you can do. You can extend it, or you can move somewhere else.
A move could be the right option for you if location is involved in the thought process, but if you just want more space, then an extension is firmly on the cards too.
Both cost a lot of money, and both can be a lot of hassle, but which one is the best solution for you?
Due Diligence
When considering an extension, it’s important to first do your research.
The cost of an extension will depend on your location, what kind of extension you’re planning, the size, and whether any complications come up. On top of that there’s architects, building regulations and planning permission to pay for. You might also need to stay somewhere else while work is being done, so there’s that cost to factor in too.
Look into similar houses on the market in your area. If you decide to build an extension, you could run the risk of adding value to your home over and above what someone might pay for a home in your location. You might not want to sell up right now, but circumstances may change, and you might want to in the future.
So, have a look at similar houses in your area, then you can decide whether an extension would make your home too valuable for your location.
On average, an extension could add up to £59,000 to the value of your home, but if this makes your home the most expensive in your area then you may struggle to sell when the time comes.
An Investment
Either way, your extension will only really pay off if you view it as an investment both in terms of your living space in the short term and the value of your home in the long term.
If you plan on staying in your home to a long time, i.e. longer than 10 years, then it is likely that your extension will become worth it in terms of profit. However, if you’re not planning on staying for that long, you could think of your extension as an investment in your living space, i.e. making your time in that house more spacious and comfortable.
Alternative Properties
Looking at other properties will help you decide whether an extension is worth it whether you’re erring on the side of a move or not. You may find a property that needs little to no work doing, making it a better option than opting for months of work at home.
You may discover a great home, but it could cost you more than an extension. And you could also discover that the home you want doesn’t exist, and an extension is the way to go for you.
Solving a Problem
The value that an extension provides goes much further than just financial gain. The right design could change the way you use your whole home. If you get a kitchen extension, it could mean that you no longer have to sit in front of the TV to eat, you can spend time together as a family. Or, if you’re planning a loft extension, it could mean that you’ve got room for your family to grow.
If you take this into account, then your extension will be a lot more valuable to you than a simple money-making exercise.
If an extension is for you, consider our glazing products to bathe your newly refreshed home in natural light: