To Move or Improve ..?
Nearly everyone seems to be doing one or the other currently. If it's left you considering your options, our guide to the pros and cons of both might help.
Record numbers of properties are going on the market and people are investing in their homes like never before. If it's giving you itchy feet, read on ...
Moving Home – The Pros
A Fresh Start – a new location can enable a lifestyle change and the opportunity to refresh everything, from your property layout and outlook to your neighbours.
No Contractors – for some, it’s more appealing to consider a wholesale move than having the builders in with all the perceived upheaval that might bring.
Tax Efficient Use of Funds – moving can be a tax efficient way to make use of your money, either by upsizing to invest it in your own bricks and mortar or downsizing to release equity.
& The Cons
Evaluating the Costs – moving home can be expensive. In addition to the various fees involved, you may also face additional property costs to make your new home the way you want it.
Hard to Say Goodbye – there may be things about your current property or location that you love and would find hard to leave.
Stressful Sales – it’s often quoted that moving home is one of the most stressful life events and if you’re unlucky enough to end up with a protracted chain or a difficult sale it really can be.
Improving Your Home – The Pros
Renovations Cost Less – doing up your current home nearly always wins out over moving and means that time and money already invested in your property isn’t lost.
Maximising Value – improvements can add value and help boost the future saleability of your property, particularly if you’re increasing its size with an extension or re-configuring the layout.
Tailored to You – making changes allows you to really put your stamp on your home and tailor it exactly to your needs and way of life.
& The Cons
The Disruption – many people are cautious about the perceived disruption major building work can cause. However, good planning and ongoing project communication by a good contractor can minimise any upheaval to make it as stress free as possible.
Getting it Right – coming up with ideas and envisaging what changes might look like can be difficult. Speak with friends and family, gather your thoughts and then speak with an expert. Look at their past project experience, get recommendations and tap into their knowledge and expertise.
Costing it Correctly – embarking on a building project with an estimate and little detail is a recipe for disaster. With so many variables, this is one of the reasons budgets can go out the window. Set clear parameters, expectations and only proceed with a detailed schedule and cost breakdown.
Final Thoughts
We have over half a century of experience in construction spanning all types of projects and are here if you require help. Give our team a call 01323 729025 to chat through your thoughts and questions or email us.
