Is it Better to Build a Home Extension or Move to a New Home?
Do you feel like you never have enough space? Are things piling up in the home such that you're considering putting them in storage? In such situations, you may immediately think of moving into a larger home. You may consider a more spacious property with more rooms, a larger basement, or extra storage space.
However, when you start factoring in the associated costs, this option stops becoming so appealing. You will often have to sell your home first, get a mortgage for a new property, and undergo the lengthy buying/selling process.
Luckily, there is another great option you have available. Home extensions allow you to make the necessary changes to your home without undergoing the grueling process of purchasing a new property. With home extensions, you can make the exact modifications that you feel are necessary for your home at a more affordable cost.
Why choose home extensions?
No hassle of selling your property and buying a new one
Moving to a new home can easily become a long and complicated process. The housing market can be unpredictable, and you can't be sure that you will find a new home at a great price. In addition, selling your previous home is also quite a long and complicated process.
Instead of moving, home extensions give you the opportunity to add the space that you need without undergoing the hassle of a lengthy sales/purchasing process.
No additional mortgage debt
Home extensions allow homeowners to avoid incurring additional mortgage debt that is associated with buying and moving to a larger home. By simply working with contractors to extend or renovate the relevant areas of your home, you can obtain more space on your current property without renegotiating a costly mortgage.
Implement the exact changes that are necessary
If you're considering moving to a new home, you may not find the exact choice that you wanted. Homes that are currently available in the market may not have everything you need, causing you to compromise on important features. With home extensions, you can work closely with a contractor to add the specific features that you wanted. For example, if you need a bigger living room, you can work on a specific design with the contractor. The same goes for adding floors, rooms, or storage space.
Home extensions typically cost less than buying a new home altogether. It is also a more dependable option, as you can have a good idea of the cost of renovation in advance. Buying a new home can subject you to the uncertain fluctuation in market prices and make it harder for you to plan financially in advance.