With house prices fluctuating due to the uncertainty in the economy and due to the current political situation, it is worth staying put in your current home until it is a bit clearer on how house prices will be effected in the long term.
However, staying put in a home that is no longer big enough is not a viable option either. We would therefore recommend getting an extension to give you the best of both worlds, a larger home, without the difficulties of moving.
Here are the reasons why you should consider getting an extension in late 2019/early 2020.
More space for your family
The reason you want to move in the first place is, so you and your family have more space, whether it be to create a new bedroom as the family gets bigger, create more space as teenagers need independence or create a purpose built room for mum or dad to work or relax. The right extension for your home can give you all of the above.
However, it may be the case that one extra room wouldn’t be enough to give you the added space that you and your family require. It might be that you want your home to have a separate living space for a relative, so in your mind moving to a new house is the only option but this doesn’t have to be the case. Why not go for a two storey extension that gives you added across both floors and makes creating a separate living area much easier, without disrupting the current living space for the rest of the family.
Whatever the requirement, it can be achieved through the right extension for you and your home.
Saves you time and money
The money that you are putting aside for a deposit could be spent on your current house to turn it into your dream home. According to Gov UK the average price for a UK home in 2019 is £243,000 and you would therefore most likely need a minimum or £12,000 to put down as a deposit. Then taking moving fees into account as well you are looking at least £15,000 to move.
But imagine now if you had £15,000 to make alterations to your current home, what you would be able to do with that money. It may be that your dream home isn’t as far away as you think, you may in fact already be living in it.
The other element to consider is time. It can take anywhere from 3 months to 18 months to move to a new house depending on if you can find a buyer for your current house and you having an offer accepted on the home you want to buy. By choosing to stay put and create a home that feels new using the space you have, you get rid of the potential uncertainty and long drawn out process of moving.
Add value to your home
There are two ways that an extension can add value to your home, from a personal perspective and a financial perspective.
Firstly, as discussed above your home will become more valuable to you as you turn it into the vision in your mind of where you want to live. As you use an extension to create that games room you’ve always wanted or that extra bedroom so the children don’t have to share anymore you will fall more and more in love with your home.
The other value that can be added is from the financial side and puts you in a better position if you do decide to ever sell your home in the future. The right extension added to the right property can increase the value of your home by up to 20 percent. If we go back to the average home price in 2019, that means an extension can turn a £243,000 home into a home worth just under £300,000 in the right circumstances. This certainly makes an extension a good investment.
Change your lifestyle
Another important thing that an extension allows you to do is change your lifestyle and get rid of excuses. It may be that you want to get in better shape, but don’t have a gym nearby. You are thinking about starting that business, but don’t have a place to work from. An extension allows you to add that extra room or two to you home and help you kick start the change in lifestyle that you wish to make.
A gym, office, music room, family room, man cave, she shed, yoga studio, workshop, dance area, craft room, the possibilities are endless.
Use a company you can trust
Our final piece of advice when getting an extension would be to use a professional and experienced company who have been there and done it before.
As much as getting good value for money is a key factor, when getting someone to work on something as important as your home, it is important not to cut corners. Make sure you do your research, read reviews from customers and ask to see pictures of similar work they have completed.
With Prestige For Your Home you’ll get the best of both worlds, a high quality service at great value. To find out more about getting an extension and to get a no-obligation survey click here: https://prestigeforyourhome.co.uk/extensions-home-alterations/