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At some point, your home might begin to feel less spacious as a result of an expanding family or other arising space needs. Your options are to relocate to a bigger home or extend your current house to suit your changing needs. In the situation where there is no space for expansion, then moving to a new house becomes the only choice you have. If both options are available to you, here are some facts about extending your home or relocating that you should know about before making a decision.
Extending Your House
Your extension works should add economic value to your home to avoid losses in case you need to move and sell your house in the future. The house extension cost will be determined by the area you live in, the type of extension you want in terms of size and structure, and other factors such as drainage. The cost of building works can also range greatly depending on the extension company you hire.
Extending a house also comes with other costs such as fees for the planning permission, structural engineers and architects. In some cases, you’re also required to live somewhere elsewhile the extension works go on, which adds an extra cost.
Moving Out of Your House
The house extension cost can be too much for some people, and going through with the building works can be tiresome. For this reason, some people prefer moving into a bigger houseinstead of carrying out an extension. Nevertheless, there can be a number of costs involved in moving, including:
- Estate agency fees for your property’s sale
- Solicitors’ fees and search fees
- Stamp duty on the new property
- Removalist costs
- Survey fees
- Cost of refurbishing
Factors to Consider Before You Make a Decision
The Economic Value of the Extension to Your Home
It’s crucial to consider the cost-to-value ratio before any extension works begin. If your renovation budget isn’t high and you can’tadd value to your home, a new house might be the better economic decision.
Extra Costs During Renovations
Renovations and extensions can disrupt your usual way of life and may cause inconveniences such as noise and dust. In some cases, you’re required to relocate during a home renovation, which means having to pay for alternative housing for that period.
Legal Requirements for a Home Extension
There are construction rules in every citythat clarify how much space you should cover, if it’s okay to add a storey to your house, and how close houses can be. You need to make sure your extension meet legal requirements before you proceed.
Your Emotional Attachment to Your Home
Weighing the sentimental value against the financial cost of your home can be difficult, although your emotions will play a significant role in deciding whether to stay or move. If you have a great relationship with your neighbours, you’re happy with your location and you have strong emotional ties to your home, then an extension might be the best option for you.