Move? Extend? Renovate?

Moving house can sometimes seem like the only way to get the home of your dreams. But unless you have to change location for jobs or schooling, a solution could lie closer to home.

If you love where you live but want more space or a different / more modern style, then re-modelling, modernising or extending your current property could be the answer.

If you consider the costs of moving (stamp duty, agents’ fees, pest and building inspections, removals and conveyancing charges), altering your current home might also make financial sense.

Extend – some things to consider

Can you create the space you need by building out into your block, by raising your low-set or by converting rooms such as garages into living space? Contact the planning department of your local council to understand whether you need permission and what process you may need to follow.
Seek personal recommendations for local builders or architects. Consider if you’ll need to move out of the property whilst work is done – where will you live and does the cost of this temporary accommodation work for you?

Renovate – some things to consider

You must check with your local council to see what planning codes may apply to your property. For example some renovations or extensions to pre-1946 housing, or changes to external appearance may need planning permission. If you plan to only make changes to the interior of your property you may not need any special permissions – but check with your council to confirm this. The fun part! Check out magazines, websites, retailers – even friends’ houses to pick up ideas for styles and features you’d like in your home.
Research the trades – builders, electricians, carpenters you’re going to need or find someone who can project manage the whole piece for you.

Make the move

If renovating or extending isn’t the answer then it’s time to plan your move – but at least you’ve thought about the alternative options that many people never consider.

Do the maths!

Of course any decision about where you live has to be made with your heart as well as your head – but it’s important to understand the different costs associated with the options open to you. Your Loan Solutions provides access to a wide range of free, easy-to-use, online calculators to help you quickly work out some of the costs involved.