House Extension A More Affordable Option Over Moving House
Moving Home
Moving Home
Moving house can be a very exciting prospect or it can fill you with dread
depending of your previous experiences. It gives you the option to look for your
ideal home possibly in a different area. You may finish up with other benefits
as well as the extra space, for example the new garden may be larger, or the
house may be in a more ideal situation
However, what are the costs involved when moving home. Obviously, you have the
problem and costs involved with selling your current property. Estate agents
fees can add up to quite a large sum these days. Also you have stamp duty to pay
on your new home - remember this is 1% of the value up to 250,000, but 3% for
houses of 250,000 to 500,000. Depending on which area of the country you live
in there are an increasing number of houses that fit into the upper bracket.
Actual removal costs and solicitors fees could approach 2,000, and then, of
course, there is the increased mortgage repayments.
House Extension
Adding an extension to your house is obviously dependent on whether or not you
have the available land adjacent to your property. If it is available an
extension may be a more viable option compared to moving house, especially in
areas where the difference in price of a house compared to the next size up is a
daunting prospect.
House extensions can create hassle - you may not be able to use your drive
or garden for a few months. But you have the advantage that you don't need to
move, and therefore, you are not dependent on selling your property and finding
a new one that suits your needs - both within a time limit
The costs involved can add up as with moving house. You will have the initial
costs of using an architect to draw up the plans and submit them to the council
for planning permission and building regulations approval. And, of course, the
council require a fee - in fact two fees - one for planning permission and one
for building regulations approval. The fees for the building are, in general,
going to be the largest outgoing, though you must remember that there may be
additional costs depending on the type of extension you are planning. For
example, if you are extending a room by knocking down an outside wall, you will
have to pay a structural engineer to calculate the size of the RSJ (the beam
that supports the wall above the new gap), and a quantity surveyor to calculate
the cost of the bean. Sometimes, plans have to change after work has started and
this may involve extra costs. Builders, in general, will quote you for what they
can see, quotes can change if extra work below ground is required.
There may also be costs involving your garden, e.g. landscaping afterwards if
you taken up part of your garden. If you are extending the kitchen then you may
need to have a new kitchen fitted. And, of course, there will be extra flooring
(carpets, vinyl, wood etc), curtains and possibly new furniture.
Conclusion
There is no one answer to the question "Buy or Build" - it is very dependent on
an individuals situation. Speak to estate agents and builders to get rough
estimates of the costs involved in each option. You will need to weigh up the
pros and cons of each option, and look at all the costs and decide which is the
answer that suits your own situation
by: Harrington Builders
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