top of page
  • Neil Harrison

Is it STILL the best thing to do then? … to Extend or Renovate for now …and then move home later? 

Updated: May 28, 2023

Extend Now and Move Later - that’s what we at Mint say ….and have been saying for a good while now since those dreaded pandemic days….

We feel now, that two years on -  it’s still got to be the best way forward in general as we face a torrid, financial-crisis- ridden Winter ahead - followed by a continuum of difficulty - including a potential recession - that looks like it just might stay.. and stay …and stay. …. …possibly even through most of 2023!

right time

We feel that right now -  and even next year too - that ‘now’ does not look like the right time to try and engage effectively with the property market, which seems sure to go on the slowing down and experiencing  testing ups and downs  going forward throughout 2023.

appropriate view

This is how we see it …. BUT are these fairly held, ‘accurate and appropriate’ views we ask ourselves? … …Should you, our much appreciated news blog readers heed our thoughts? …. I am sure those of you connected to the property biz WILL surely be in two minds about all this…..and we understand why!

online research

Fair point ..so we did a bit of online research reference the current ‘question of the moment’ …Is it better to stay put and extend or improve rather than risk the lottery of trying to move home ( if you haven’t got to!) during what is left of this year ….and indeed also during most of next year too?

views galore

So, how do others in property-related businesses see it all?  What did we find as we Google searched with our ‘Extend Now - Move Later message?  Well, we, of course,  found wide-ranging views galore AND all sorts of  varied opinions   ..of course we did !  … 

response ‘starter’

So we searched and fell upon many many views .. ..Here are some snatches ….read on ….

a. In terms of seeing a financial return, a home extension is something you should be thinking of as a medium to long-term investment over say five or more years.

b. An extension will help add value to your home as well as creating space, but, the cost needs to be thought through. Whether you should move house or extend should be based on what will benefit you and your family the most.

c. Renovating will cost less than buying a new home -Making major changes to your property is by no means cheap, but when it comes to side-by-side comparisons, doing up your current home will win out over buying a new one.

d. The new can make the old look really old - If you’re planning on adding an extension to the property, or even remodelling your kitchen or bathroom, it’s worth bearing in mind that the addition of a brand new part of your home can often make the rest look very tired indeed. This can often lead to more work and more expense further down the road.

e. As house prices rise over time, if you plan to stay in your home longer term, it is likely that your home extension will become, in terms of financial profit, very worth it. You will also have had years of enjoying your home extension.

f. If you’re not planning to stay where you are for the long term, we suggest a better way to realise value is to gain planning permission for the extension, but not build it!

g. If there are things that can be improved, doing so will add value to your property. This will give you the best return on investment, in terms of capital growth, should there be an uplift in the market. 

h. If you already have a house that you love, doing a remodel is the simplest way to go on living in a house that fits your needs. Remodelling lets you customise your current home without the anxiety and stress of a big move (although you may be living in a construction zone during works.

i. You can really make your home your own - While we always advise sellers not to go too crazy with personalised customisations, deciding to improve your current property does allow you to really put your stamp on your home…..

online search test

…Some extensive and varied various key pointers and thoughts there then ?  But why not check for yourself perhaps    …well yes..why not? ….make that online search ‘test’ then… go on… use the heading to this blog post perhaps!! 

…..Is it still the right thing to do then? … to Extend or Renovate now …and then move home later? …stick it in Google …and press that button …….

stimulate

Check it out  …and see what emerges. For sure, you might as well know what IS being said out there … and it just may stimulate that testing, key decision-making consideration for you….. to an ‘extent’ at least….pardon the pun!

balance up

Anyway … we at Mint will, of course, be here, to hopefully - if we possibly can - help YOU balance up your best decision-making options to extend, renovate or move instead in these challenging times… …..whatever your own online search may yield.

Good luck to you and yours whatever options emerge with your ‘search’… and whatever you deem best to do for the future!

We at Mint Builders are, of course, here to help locally with all kinds of questions and ideas relating to all your  potential ‘added value’ new home extensions or renovation ideas and plans whether for Autumn and Winter this year and well on into 2023. We can also assist with all your home renovation and energy saving priority planning and project organisation of ALL kinds.

Feel free to request our project planning and quotation visit to refurbish or extend your home for more energy saving ‘liveability’ and vital increased future protective money-making ‘added sales’ value for the future ahead. Contact Mint Builders on 07734 211958 or email mintbuilders@hotmail.co.uk

1 view0 comments

Comments


bottom of page