There could be a number of reasons why you are considering moving; maybe you are outgrowing your current home or just want a change of scene? Have you ever thought; maybe I don’t need to move? Maybe I could change the layout or even just extend my own home? This blog will highlight the advantages and disadvantages of each option.
Moving to a new property can either fill you with excitement or dread, depending on any past experiences you may have had. It provides you with a clean slate – allowing you to choose your potential property, the garden size or any extra features you desire.
Of course, there are a lot of costs which are involved when moving house. Firstly, you have the hassle and the cost of selling your current home. Estate Agent fees can also add up to a hefty amount these days, with fees around 1.5% (+ VAT) of what your home sells for. You will also have to pay stamp duty on your new property which is currently 1% of the value up to £250,000, upped to 3% if your home purchase is worth more than £250,000, but less than £500,000. Solicitor’s fees and removal costs can also add up, and there maybe increased mortgage payments.
As long as you plan out every detail of the move and all your costs, you should be fine. Make sure you budget a little extra for those hidden Estate Agent & Solicitor fees and, ultimately, stay within your means.
Our top tip is to make a full list to help you keep track of your things. Make a list of all your belongings room by room, in order to make sure everything is accounted for. By making a list for every room and labelling all of the boxes, everything can easily go where it belongs instead of being chucked in any old room and becoming lost. That will ease your transition into your new home and make sure it begins to feel familiar and homely as soon as possible.
Extending your home is dependent on three things; your circumstances, your budget and whether you have enough land adjacent to your home. If you are lucky enough to have land available, an extension might be a more viable option than moving house.
Extending your home can create hassle as you might not be able to access your garden or driveway for a few months. But you will have the advantage of not needing to move and will therefore avoid the trials and tribulations of selling your property and having to search for a new one exactly matching your requirements.
As with moving house, the cost of extending can add up. You have the cost of hiring an architect to draw up plans. The costs for construction and for planning permission also must be considered, as should hiring a Surveyor who can carry out a Party Wall Survey or project management, depending on your situation and the scale of your plans.
Whatever your choice, using an experienced Chartered Surveyor is always a smart move. Surveyors can carry out a Building Surveys on any potential property or help you with a Party Wall issue if you choose to extend. The support of an experienced professional can also help you avoid ‘cowboy’ builders and ensure a stable, quality end product.