It’s a tricky question that many homeowners face. They love their home, but it’s just becoming too small. They need more space; but should they stay and extend, or move to a new home somewhere else?
Perhaps you have a growing family and the kids need a bedroom each. Maybe the one bathroom for all the family just isn’t working anymore? Are you fed up with finding kids toys everywhere and wish you had a toy room for the toys to be tidied away? Or maybe your new job means you have to work from home, but the kitchen isn’t working as a home office?
So, you are faced with the fact that you need more space, but should you stay or should you go?
An Extension Unlocks the Potential of Your Home
By extending your home you can unlock the potential of your home. House prices are soaring and home with the space you need can now be financially out of reach for many families. There are also fewer larger homes on the property market, which means there are fewer homes to choose from.
If you have a large back garden, the room at the side of your home, a loft or a garage then you could have the space you need in your home already. Currently, it might be wasted space, but what could this space become? A large loft space can easily become storage, a double bedroom and an ensuite, for example.
An Extension Increase Your Property Value
Different extensions and home improvements will increase the value of your property in different ways. For example, having a loft conversion that gives you an extra room with an ensuite could increase your property value by up to 20%. However if it just another bedroom, with no ensuite, it will add 10% to the value of your property.
Meanwhile, a second bathroom is expected as standard by homeowners these days. Adding a second bathroom to your home will add 5% to your home, but it could give you the extra bathroom that makes family life and morning routines a whole lot easier!
Estate Agents, Savills, recommend a conservatory as a quick way to gain more living space in your home. By adding a conservatory to your home you can expect to increase the value of your property by around 10%.
What Makes A House A Home?
We all know that a home isn’t just a place to live and sleep. It’s your neighbours and the surrounding areas that make your house a home. If your children are settled in at school and doing well, do you need to risk losing this by moving house? Great neighbours and local friends can be hard to find, are you sure you want to lose them?
By extending your home you are getting the extra space that you need, without losing the great neighbours, local friends and good schools. When looking for a new home you never know what your neighbours and community are like until you have moved in. By that time you have already moved in and it’s too late to go back to your old home.
Should You Stay Or Should You Go?
As with all big decisions in life, it needs to be weighed up. Look at the cost of a new home that has the space you need. Consider how much more it will cost to add in the removal costs, the solicitors, estate agents fees and more.
Then call in some home extension experts (like our team here at Allbright Property Maintenance Peterborough) to give you a free, no-obligation quote, on how much it will cost for your existing home to give you the space you need!
