Housing Dilemma: Go or Grow?
Extra space is the biggest reason that people start to look for a new home. Increasingly, British homeowners are improving and/or expanding their homes rather than simply moving. The added value that this solution offers is appealing to lots of people.
Tighter budgets and climbing house prices mean that offspring stay at home for longer and the new ‘night out’ is now a ‘night in’ with friends.
Bigger kitchens, more bedroom and better decor are the most popular reasons for borrowing money to spend on existing homes.
Despite 86% of people saying that they would happily take on renovation work themselves, 73% involve professionals when completing house improvements. (Source: ONS)
Interestingly, 27% people planned to get their home revalued after renovation work has finished.
“Some people love to get involved with refurbishing their homes,” says Jason Dyer of JTM Homes. “A lot depends upon the scale of the home improvements. For some people, the noise, dust and upheaval are unbearable. It’s a big decision – extra space and improved décor can add value and speed to selling your current home. The flip side is to simply move to the property that offers what you are looking for from a home – and start enjoying it.
“The starting point is to see what is available in your area – and what changes are feasible to your current property. That way, you know that you’ve explored all the options when you decide whether to move or improve.”
To see what properties are currently available – to buy or to rent talk to the team at JTM Homes.