Many homeowners nowadays are choosing to expand their current home rather than moving to a new one.
If you love your home, its location and its specs, it makes total sense that you should try to stay put and expand instead of moving on. However, many homeowners are concerned about embarking on an extension project.
Extension projects require meticulous planning and an awful lot of work. Many people wonder if an extension is worth it at all, and think perhaps they would be better off just selling up and moving to a larger home. However, extensions can add a lot of value to your home and create more space for your family to thrive.
In this post you’ll find the pros and cons of home extensions as well as home extension ideas. Let’s get started!
The Pros of Extending Your Home
Let’s start off with some pros, shall we? Here are the key pros to extending your home.
- Extensions add significant value. Depending on the size, type and quality of the extension you build, an extension could add up to 23% onto the original value of your home. Particularly if the extension adds another bedroom and/or bathroom, such as a loft, your home’s value will be considerably raised.
- Extensions give your family more breathing room. As a family it can be difficult when you feel there isn’t quite enough space for everyone to do their thing. An extension such as a conservatory will allow your family to spread out a little, aiding your comfort and helping you to thrive in your own ways.
- An extension is more cost-effective than selling in many cases. Depending on your area and the home you own, it could be far more cost-effective to extend your home than to sell up and buy a larger one. Of course, extending your home requires using savings or a loan in order to do so, but if you can manage it, this will put you in a better financial position in the long run.
Cons of a Home Extension
Despite the fabulous advantages, there are some cons to extending your home too.
- Initial cost. Unlike selling your home in order to afford a new one, extending your home requires the initial cost to come out of your own pocket. This can be tricky for some families, causing them to rule out an extension.
- Planning permission. Particularly in built up or urban areas, it can be a challenge to obtain planning permission from the local council to extend your home.
- Disruption to your routine. Once the extension is underway, your family will need to prepare for major disruption to your home life and routine. While this is only temporary, the mess, dust, equipment and presence of construction workers can be difficult to manage, particularly if you work from home.
In conclusion, extending your home is a fantastic way to expand your family space without having to move house altogether. Use this guide to assess the pros and cons of extending your home!
Disclosure: This is a partnered post