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Should I stay or should I go? Things to consider when deciding whether to move house or extend

| April 22, 2021

There has been much talk over the last year about how important our homes have become in our lives. Of course, homes have always been important – but suddenly spending ALL our time there, whether for work or leisure purposes in a lot of cases – meant those little niggles and things we’d been putting up with seemed so much worse.

We realised that actually we really needed space for a desk and to work comfortably, away from the kitchen table or sofa. We needed somewhere to exercise. Gardens became more important than ever before. And although Kirsty and Phil have always known it, Location, Location, Location was vital. We needed lots of pleasant walks we could take from our doorstep – and some great little local food shops we could pop into to stock up on staples. All that’s not too much to ask surely?!

The property market ground to a halt for a little while due to lockdown, but by last summer it was up and running again and busier than ever. Properties are flying out of estate agents’ windows as soon as they hit them. The Stamp Duty Savings definitely helped give the market a boost – but actually things don’t yet seem to be slowing down, despite the deadline for the end of the scheme looming. Certainly as a removal firm in Leeds and York, the diary continues to look very busy moving customers for weeks to come.

So, if you’re pondering how to best achieve the home you want (or need), what questions should you be asking yourself?

  • Will an extension get you what you need? If you want a bigger garden or a different location, moving is really your only option. If, actually, it’s an extra bedroom or a knocked through kitchen/diner you’re after, speak to an architect to find out if it would be possible in your current property.
  • Weighing up the costs. If you were to move home, what would your budget be? Remember to work in costs such as stamp duty, solicitors’ fees and removals firms. Can you get the house you want within the budget? Time to check out Rightmove and to get some valuations on your current property! But don’t expect an extension to be a ‘cheap’ option – typically they cost around £1,500-£2,000 per square metre. Consider all the related costs, such as planning fees and inspections, and then factor in some additional budget for unforeseen expenses (which there always are!) Remember you may need to put some of your belongings into self storage. Will you have to move out for any of the work to be done, and what costs may that add?
  • Don’t get hung up on making your money back. Of course, it would be galling to extend your house and find it cost more than it added to the value of your home. But apparently 73% of house extensions do make their money back. However, if you’re making these changes so you can continue living in the property longer term, at this point the value of the house doesn’t really matter. It’s estimated that an extra bedroom can add more than 10% to the value of your property, and an extra bathroom or extended kitchen/diner 5-6%.
  • Will an extension be allowed? Look at what other properties in the area have done to gauge whether you think you’d be likely to get any necessary planning permissions. But bear in mind there’s no guarantee until planning is granted!

If you decide moving is the right option for you, get in touch with us to find out more about our removals’ services in Leeds and Yorkshire. Wherever you might be moving to, our friendly team can help get your belongings safely packed up and transported from your old home to new. If you’d like to get a quote for a removal, fill in a few details here or give us a call on 0113 269 0000.

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