Moving or Extending? 7 Things You Need to Consider Before Making a Decision I The Property Fox Leicester
Posted on 29th March 2023
Moving or Extending? 7 Things You Need to Consider Before Making a Decision
Making the decision to either move or extend your property can be a tough one.
There are many factors to consider, and it can be difficult to know which option is the best for you.
In this blog post, we will outline the top 7 things you need to think about when making this decision.
We will also provide some tips on how to make the process easier for you!
1. Your budget - how much money are you willing to invest in either option
2. The size of your property and the amount of extra space you need
3. How long it will take for each process - moving or extending
4. The impact on your home’s value if you decide to sell at a later date
5. Any potential legal issues that could arise from either option
6. Whether there is enough room on your property for an extension or if you would need to buy additional land
7. Your lifestyle needs and whether they can be met by staying put or relocating elsewhere
Your budget - how much money are you willing to invest in either option
This is probably the most important factor to consider.
Consider how long each process would take, and if either option could bring additional value to your home in the future.
You also need to make sure that you are aware of any extra costs such as legal fees, surveyors or building materials that may be required.
The size of your property and the amount of extra space you need
This is important to consider as it will help you decide whether an extension or relocation is the best option for your needs.
Make sure you measure the area that you need to either extend or move into and take into account the amount of space and furniture that you have.
How long it will take for each process - moving or extending
Moving can be a relatively quick process if you’re just moving from one house to another, however it may take longer if you’re buying and selling.
An extension will also take time but it may be quicker than a move as long as all the necessary planning permission is in place.
Get some guidance from estate agents, solicitors and builders so you can compare the length of time each process will take.
The impact on your home’s value if you decide to sell at a later date
It is important to consider how an extension or relocation could affect the future saleability and value of your property should you choose to move again in the future.
Both options can add additional value to your property, but it is important to make sure that whatever you invest in either option is a sound investment and not just an aesthetic or lifestyle choice.
Any potential legal issues that could arise from either option
This is one of the most important things to consider before making a decision.
There may be some legal implications for extending or moving that you need to be aware of.
These could include planning permission, building regulations, or any other restrictions. Talk to a solicitor who can provide advice and guidance on the legal implications of each option.
Whether there is enough room on your property for an extension or if you would need to buy additional land
If you choose to extend your property, you need to make sure that there is enough room on your land for the extension and all associated building works.
If not, you may need to purchase additional land to build an extension.
This could be a costly undertaking, so it is important to consider all of the costs associated with this before making a decision.
Your lifestyle needs and whether they can be met by staying put or relocating elsewhere
Your lifestyle needs should be one of the key factors in deciding whether to move or extend. Make sure you consider how each option will accommodate your current and future needs.
Consider whether you would have enough room for your family and possessions if you choose to stay put, or if a larger property is necessary elsewhere.
If you decide that a relocation is better suited to your needs, then make sure you do adequate research into the local area so that you can find a suitable place to relocate.
To Conclude...
When deciding whether to move or extend your property, there are many factors that need to be taken into consideration.
Your budget, the size of your property and the amount of extra space you require, how long it will take for each process, the impact on your home’s value if you decide to sell at a later date and any potential legal issues that could arise from either option should all be considered carefully.
Additionally, make sure you have enough room on your land for an extension or purchase additional land if necessary.
Lastly, ensure that whatever decision is made best suits both current and future lifestyle needs by conducting adequate research into local areas before making a final choice.
To get tailored advice on what solution would work best in their specific situation those considering extending or moving should seek out guidance from estate agents, solicitors and builders who can provide them with detailed information about both options.
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