Improve DON’T Move
Whether you’re unexcited by your house’s facade or find your current living area lacking space, it is often consistently more economical and cost effective to extend and improve upon your current property than moving houses altogether. Simple one-storey or more dramatic two-storey extensions can radically enhance the dynamic of your house, in terms of its atmosphere from natural lighting and open planned spaces, to the exterior and interior aesthetics of the house.
Cost of moving:
In the past decade, house prices have vastly increased, which has made moving in the South of England expensive, very impractical and often unobtainable; so other solutions can be proposed, like to instead, improve upon your existing property.
The average house price in Surrey has remained well above the national level, showing a 3.1% increase from £426,187, April last year to £439,430 12 months later; with semi-detached properties averaging at £530,765.
If you decided to stay in your current house you can avoid all the costly expenses and hassle that moving that homes consists of:
· Paying estate agency fees for the sale of your property
· Solicitors' fees
· Search fees
· Stamp duty on the property you are buying
· The removals cost
· Surveyor fees
The economics of extending:
In 2017, an estimate for the building costs of a single storey extension lies within the region of £1,500 - £2000 per m2 for a high-quality result, excluding VAT; with the cost of a two storey typically being an extra 50% to the build cost of a single storey extension, if both storeys are the same size.
Other costs will need to be considered including the cost of fittings and their respective quality, for instance a new kitchen could cost between £4,500 - £16,000 again being contingent on the standard of appliances and fittings etc.
· A budget for design fees is a critical aspect and the planning application.
· Environmental assessments:
Tree report, to determine if any surrounding trees are protected by Tree Preservation Orders.
Flood risk assessment, if your house is within flood zones.
Ecology report that may be required by your local authority, concerning the preservation of protected animals such as bats.
Topographical survey, regarding significant changes in ground levels.
· Historic assessments:
Archaeological report, if your house is in an area of archaeological interest.
Historic building report, if your home is listed.
Adding value to your property:
One of the many advantages of extending your home, is the added value the extension will bring to your property. In the long run, it’s credibly feasible to reason that all, or at least a significant margin of your investment made on the extension could be acquired back from a future sale of the property.
A property’s worth could be increased by around 20-25% for a home extension or loft conversion, subject to the size. Meanwhile, there is a potential 8-12% boost in the value of a home by adding a decent-sized extra bedroom.
Depending on the type of extension, for instance an additional bedroom, you could expand and swell the pool of potential buyers, who might have larger families which subsequently require more square footage.
Adapting the extension to your uniqueness:
An extension shouldn’t just be a solution for more space, but a pursuit to transform your house into the perfect home. The design should be tailored around your requirements and your desires. The lay out needs to be in response to the new area, but remain in sync with your requests.
Double height ceilings and galleried landings can lighten up a room, allowing more natural light to flood in through larger windows, improved air flow and the ability to talk to people from different areas of the house. French doors and sliding doors can open up your home to the natural environment outside, while simultaneously making the indoor space seem larger.