Move home or extend?

Discussion in 'Off Topic Chat' started by Darfion, Dec 7, 2003.

  1. Darfion

    Darfion Soapbox guru...

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    Just been weighing up the pro's n' cons of whether to move home or to extend our current one. With British house prices going through the roof we have come to the conclusion that it's cheaper to enhance our home rather than move to a bigger, and more expensive, house.
    I seem to get "itchy feet" quite alot after we moved house for the first time four years ago, but maybe this is the house for us and it just needs that little bit extra to make it perfect for us.
    I know a builder who I used to go to school with so maybe we can come to some sort of "deal" that we're both happy with.

    I'll keep you all posted on our progress.
     
  2. mrsid99

    mrsid99 TPF Supporters Supporting Member

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    Hi Darren,

    It all comes down to bucks or, in your case, quids.
    I'm willing to bet that long term you'll be better off moving rather than adding on.
    Just do the math, if it costs x amount to add on what will the property value increase by over some period, then ask yourself if you'd put that same amount into a new place what the increase will be over the same period.
    The main thing to remember is location of course, location has the greatest effect on property values.
    HTH and this is the right time of year to be looking for real estate since it's the slow period and prices are not rising as fast. By March, April time they're going to be hauling again especially if the economy keeps improving.
     

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