Move or Improve?
24 September 2015
Anyone thinking of a relatively large home improvement project weighs up the pro’s and con’s to moving or improving – is it easier, cheaper, more convenient and less disruptive to find their dream home or create it?
In order to answer this question you first need to ask why and you need to be honest with yourself. Why are you considering either? What is it that you want to achieve? More space? A change? A new look and feel?
Generally there are 3 types of people; pro move, pro improve and those in the middle that can’t decide between the two. Within each type the reasoning behind the end decision differs and typically those that aren’t sure either way aren’t sure because they aren’t aware of all the pro’s and con’s in order to help them make an informed decision.
The aim of this article is to highlight all the blatant and hidden considerations to help you make the best decision for you and your family – don’t be too hasty in your decision, the cons are as important as the pro’s and vice-versa, this article is about finding your happy medium.
Pro’s to Moving:
- An ideal solution if you don’t have the space and/or facilities to improve the amount of space you have through extending or converting.
- A fresh start - new area, new people, new neighbours, new shops, new schools – somewhere different and somewhere exciting
- Ability to find your ‘dream house’ – difficult but through moving it is possible to find the house you always wanted
Pro’s to Improving:
- Make your house, your home – make it yours – it might not be your dream house but that doesn’t mean it can’t be. Home improvements are a great way of giving your home a brand new look and feel.
- Already settled? Don’t want to up root your family? Like your neighbours? On the doorstep of your work place and preferable schools? Improve over move all day long.
- Typically a be cheaper alternative to moving and, within time, should add value to your property – a lucrative investment
- If you have low equity in your property improving it rather than moving would be beneficial.
- The list of possible improvements are endless; extensions, conversions, new kitchen, new bathroom, new layout – room conversion and room extensions and external improvements.
Con’s to Moving:
- Expensive – it may seem like a cost effective solution at first however there are an awful lot of ‘hidden’ and pricey costs, associated with moving: legal fee’s stamp duty, estate agent fee’s to name a few
- You have to give careful consideration to your current mortgage situation – will you be able to borrow more and extend your borrowed limit?
- A number of external factors impact whether ‘now’ is the right time for you to move – things to consider include the state of the general housing market and the current economic climate.
Cons of Improving:
- Inconvenience and disruption. Regardless of what you are having done there will be an element of both with a typical home improvement project. Depending on what that improvement is it could be minimal and short or quite extensive and prolonged – a new bathroom vs a double storey extension for example. The secret here is if you opt to improve engage with a trusted and highly reputable building company who will ensure both is kept to a minimum.
- Be careful to ensure that whatever improvement you go with the style and design suits the existing look and feel of your home – a traditional Victorian style semi-detached would look a little bizarre with a modern 21st century orangery.
- Large scale improvement works are generally a result of wanting to create more space but be careful to give consideration to communal areas whilst adding more living space.
- There are a number of compulsory elements that are out of your control, cost money and take time. Architecture drawings, planning permission, and building regulations approval – the process usually takes a number of weeks so patience is key.
Are you thinking about improving your home? Why not download our FREE Home Improvement Guide, packed full of information & advice on extensions, conversions, internal & external improvements, alterations & adaptations as well as planning, building regulations and all legal requirements.
download your free guide here
MoreBuild*, part of the Passmore Group, are a Leeds based building solutions company. Whether you are looking to discuss an extension, conversion, internal or external building project or disabled alterations and adaptations More Build offer expert knowledge and advice as part of their fully project managed service.
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