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Move Or Improve: Should You Extend or Sell Your Home?

04/12/2018

Your first home, and perhaps even your next one or two, isn’t necessarily the one you want to stay in forever. A starter home that you buy when you’re a young couple or still free and single might not be suitable for a growing family. As your family needs space, you might start to think about the best way to give it to them. Many people will immediately think about selling and moving to a bigger home. However, extending or adapting your existing property is another option to consider. Maybe your house feels so much like home that you don’t want to leave, but you know it’s not quite right for your family. So should you move or improve?

The Case for Extending

If you love your current home, or you don’t want to go through the process of selling, an extension is a great way to get more from your property. You can add to the space you have and give your family more room to stretch out. If you work with contemporary architects to design your extension, you can come up with something that works well with the existing structure. A sympathetic extension can blend in with the property, looking like it was there all along, while also adding an exciting new touch to your home.

Image by Oaktree B

In addition to an extension for your home, you can think about how you might rearrange the existing space. Reconfiguring could be the way to get more from your home and adapt it to your lifestyle. There are various things you could do, from knocking down walls to rearranging rooms to change how you use them or adjust their layouts. Deciding to make changes to your home, instead of moving, could be more affordable. It will allow you to stay in the home that you love too. However, you will have to consider the time it may take to build an extension or make other changes.

The Case for Selling

Not everyone wants to go through the effort of making improvements to their current home. Selling is also an option if you need more space, and it could be the right one for your family. Selling your home and moving out can still cause disruption to your lives, but it could be easier for you than having any kind of building work taking place. In some cases, moving home could be more affordable that improvements. There are various costs involved in the move, but it’s possible that they still add up to less than the price of an extension or major renovation.

If you have a young family, it could be the perfect time to find a home that will suit you for many years to come. You can find somewhere that will work at least until your children leave home, or even a property that you want to own into retirement.

Both improving and selling your home are great options if you need more space. It’s up to you to decide which one is right for your needs.

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