Sometimes, you might need room for a home office or an extra bedroom to cater for your growing family, or you may even be planning to expand your kitchen dining room.
However, some situations might require no other solution than moving. An example of such a case is when you want a garden but you live in a first floor flat. But if your property has the potential to be extended or has a garage, loft, or cellar that can be converted, the decision may not be as easy as you might think.
Moving House or Extending – Which is Better?
Although about 80% of Brits think that the new planning laws would result in further disputes among neighbours, reports indicate that 41% of homeowners prefer to extend instead of moving house. The recent change in law has prompted about 19% of homeowners to consider building a rear extension in the next 3 years because the new laws have approved the right to build broader rear single-storey extensions.
Is It Better to Extend Your Home?
Naturally, extending your home should be a rewarding investment that you will reap when you finally sell – but it is not always the case. The demand and location of your property are some of the factors that determine whether the extension will raise the value of your home when you are ready to sell it.
For instance, it sometimes makes sense to include a basement in a London property because of the ever-increasing demand and rise in property prices.
This, however, might not be applicable to other regions of the UK.
Having said that, extending your home in one way or the other is most times a more reasonable option from a financial viewpoint. Factors such as location, size, and type of building determine building costs for an extension.
How much does building a flat-pack extension cost?
A one-storey flat pack extension of about 25 Square metres may cost you about £25,000. Note, however, that the price does not include other costs like flooring, lighting, and painting.
But if this cost seems to be on the high side, you can consider a flat-pack extension which is 25% cheaper compared to a traditional bricks-and-mortar extension of the same size.
What are the advantages?
A flat-pack extension is better because you only need to dig the foundations and connect the utilities to complete the on-site work. You can build the remaining utilities off-site and convey them to your property for builders to assemble.
Besides, the flat-pack extension will save you the inconvenience and disruption to your daily living that you might encounter if you have builders on-site for a longer period.
Other Factors That You Should Consider
Here are some factors that you should consider because they will determine what your budget will be.
Structural Adjustments
Take note that apart from the extended space, your property may need some structural alterations. For example, to remove current supporting walls, you may need to install an RSJ. Alternatively, you can pay a builder to level the ground if the space where you want to extend your place to, is uneven.
Building Costs
Although using a flat-pack extension will significantly reduce building costs, you need to spend money on digging, excavating the foundations, plumbing, electrical, gas installations, and others.
Additional Costs
Apart from the major costs, you need to prepare for some additional costs of your building work such as buying paint or skip hire to ensure that your extended space corresponds to the remaining parts of your property.
Fittings and decorations
You certainly need to buy new flooring, furniture, and light fittings for your new living space. While this may not be as expensive as others, you must consider them when budgeting for the renovation of your home.
