{"id":2622,"date":"2015-06-18T09:18:20","date_gmt":"2015-06-18T09:18:20","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/sell-up-or-extend-which-one-is-the-right-move\/"},"modified":"2018-02-21T10:37:13","modified_gmt":"2018-02-21T10:37:13","slug":"sell-up-or-extend-which-one-is-the-right-move","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/sell-up-or-extend-which-one-is-the-right-move\/","title":{"rendered":"Sell Up or Extend: Which One is the Right Move?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div>\n<p class=\"MsoNormal\">Whether you have a growing family or you just need more <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/room\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/room;http:\/\/rdf.freebase.com\/ns\/m.06ht1;http:\/\/dbpedia.org\/resource\/Room\" >room<\/a> for your hobbies and interests, there will probably come a point in your life when you start to realise that your current <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> is too small. In a perfect world, this problem is easily rectified by selling up and buying a larger property, but is this necessarily the right move? Or would you be better expanding or <a class=\"wl-entity-page-link\" title=\"remodelling\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renovation\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renovation;http:\/\/rdf.freebase.com\/ns\/m.06b49c;http:\/\/dbpedia.org\/resource\/Renovation\" >renovating<\/a> what you already own?<\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><span>\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><img src=\"http:\/\/pixabay.com\/static\/uploads\/photo\/2014\/06\/12\/08\/27\/home-367403_640.jpg\" alt=\"\" align=\"none\" \/><b><br \/>\n<\/b><\/span><\/p>\n<p class=\"MsoNormal\">\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Sometimes the decision of whether to move to a bigger <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/housing-estate\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/housing_estate;http:\/\/rdf.freebase.com\/ns\/m.01rtvp;http:\/\/dbpedia.org\/resource\/Housing_estate\" >home<\/a> or extend and improve your current <a class=\"wl-entity-page-link\" title=\"houses\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/house\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/house;http:\/\/rdf.freebase.com\/ns\/m.03jm5;http:\/\/dbpedia.org\/resource\/House\" >residence<\/a> is made for you. For example, if you live in a <a class=\"wl-entity-page-link\" title=\"cellar\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/basement\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/basement;http:\/\/rdf.freebase.com\/ns\/m.02q_2q;http:\/\/dbpedia.org\/resource\/Basement\" >basement<\/a> flat and you need an extra <a class=\"wl-entity-page-link\" title=\"bedrooms\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/bedroom\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/bedroom;http:\/\/rdf.freebase.com\/ns\/m.02_58j;http:\/\/dbpedia.org\/resource\/Bedroom\" >bedroom<\/a>, there will be no room for any building work, so you will have no choice but to look for a larger home. On the other hand, if you are currently living in a three bedroom, detached home on a large plot, there will be plenty of scope to add an extension or do an <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/attic\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/attic;http:\/\/rdf.freebase.com\/ns\/m.08l60s;http:\/\/dbpedia.org\/resource\/Attic\" >attic<\/a> conversion. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><b>The State of the Property <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >Market<\/a><\/b><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">To a certain degree, the state of the property market will affect your decision. If the market is depressed and house prices are stagnant, moving is probably a bad idea because you won\u2019t be able to secure a decent price for your home. In this instance extending is a good idea, the reason being that your property will be worth more and you can build up a decent amount of <a class=\"wl-entity-page-link\" title=\"Equity (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/equity-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/equity_law;http:\/\/yago-knowledge.org\/resource\/Equity_(law);http:\/\/dbpedia.org\/resource\/Equity_(law)\" >equity<\/a> as the market recovers, thus <a title=\"\" href=\"http:\/\/www.mondev.ca\/\" target=\"\">enabling you to look at condos in Montreal<\/a> (or wherever else you fancy) at a future date.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><b>The Pros and Cons of Extending an Existing Home<\/b><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Extending a property is never a cheap option. Costs vary but you should expect to pay around \u00a31500 per square metre, plus VAT. On top of the construction costs, there will also be architects fees, <a title=\"\" href=\"http:\/\/www.planningportal.gov.uk\/permission\/\" target=\"\">planning permission fees<\/a>, and the cost of adding fixtures and fittings to your new extension. You are also not forced to be given <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/planning-permission\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/planning_permission;http:\/\/rdf.freebase.com\/ns\/m.01zn89;http:\/\/dbpedia.org\/resource\/Planning_permission\" >planning permission<\/a>, especially if your neighbours object. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><b>The Pros and Cons of Moving to a New Home <\/b><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Moving to a new home is very often better <a class=\"wl-entity-page-link\" title=\"Value (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/value-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/value_economics;http:\/\/rdf.freebase.com\/ns\/m.0bhr4z;http:\/\/dbpedia.org\/resource\/Value_(economics)\" >value<\/a> for money if there is a limit to how much you can increase the value of your current home. There are costs involved in moving, however, including legal fees, <a class=\"wl-entity-page-link\" title=\"Estate (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_law;http:\/\/rdf.freebase.com\/ns\/m.038t85;http:\/\/dbpedia.org\/resource\/Estate_(law)\" >estate<\/a> agent fees, and the cost of buying a more expensive home. You may also struggle to find a suitable property you like, whereas an existing <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a> might be perfect, apart from the fact it isn\u2019t quite big enough.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Whatever you decide to do, make sure you weight up the pros and cons carefully. Always remember that unless you have a huge wad of cash sitting in a bank account, you will need to re-mortgage to release funds to finance the purchase of a new home, but cashing in on your equity in the form of a secured loan to pay for home improvements may be easier to secure.<\/span><\/p>\n<p class=\"MsoNormal\"><!-- [if gte mso 9]&gt; &lt;![endif]--> <!-- [if gte mso 9]&gt; Normal 0 false false false EN-US JA X-NONE &lt;![endif]--><!-- [if gte mso 9]&gt; &lt;![endif]--> <!-- [if gte mso 10]&gt; \/* Style Definitions *\/ table.MsoNormalTable {mso-style-name:\"Table Normal\"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:\"\"; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin; mso-ansi-language:EN-US;} &lt;![endif]--> <!--StartFragment--> <!--EndFragment--><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u00a0<\/span><\/p>\n<p><!--EndFragment--><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Whether you have a growing family or you just need more room for your hobbies and interests, there will probably come a point in your life when you start to realise that your current property is too small. In a<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/sell-up-or-extend-which-one-is-the-right-move\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[14,16,8],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/sell_up_or_extend__which_one_is_the_right_move_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2622"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=2622"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2622\/revisions"}],"predecessor-version":[{"id":15413,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/2622\/revisions\/15413"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=2622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=2622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=2622"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=2622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}