Extending your property could be a great move for a number of reasons – the two most important being: 1. Extra space (which can serve many purposes) and 2. Adding value to your property. But before you decide on whether or not an extension is the way you want to go, here is a handy list of pros and cons to help you get started.
Pro – A new room. Let’s start with the obvious, extra space. Extending your property will mean adding extra space to your home. This is certainly something to consider, particularly for future plans such as starting or growing your family, working from home, renting out a room or creating more storage space. An essential step in your decision making should be to first consider the functionality of the room and then weigh up your best options. For example, do you already have an underused space such as a loft or basement which could be utilised before you consider an extra build project?
Con – Planning permission. Extending your property could come along with some additional hurdles to jump through before you even get started. The most common hurdle is planning permission. While this isn’t necessarily a deal-breaker, it should be one of your priority considerations from the very beginning. It is important to do your research, reach out to the appropriate professional bodies and enquire about your project before you make a decision. You could have an alternative option that may not require planning permission to execute.
Pro – Adding value to the property. Extra space means that your home is now larger, potentially has extra facilities and will be more appealing on the property market. So, extending (or in fact, any renovations on the home) is a great way to add value to our property when it comes time to sell and move house. You could stand to see a nice profit.
Con – Budgeting can be unpredictable. Your budget will take some much-considered planning, and it will pay off to allow yourself the time to crunch numbers before you make a decision. Remember that you could have alternative options, so if your budget doesn’t quite reach your dream extension, it could still offer extra space solutions in other ways. When we say ‘unpredictable’ we are referring to the fact that any build-focused project can come with its unexpected circumstances: time delays due to weather, unknown issues with the land or structure, material sourcing, and so on. Again, as with the planning permission hurdle, this is not a deal-breaker, but it is best that you plan for the unexpected within your budget if you can.
Pro – Project satisfaction. Extending your home could offer a great solution for you if you’re itching for a new project. Its always a satisfying feeling to start with an idea, make a plan, do your research and come up with an exciting solution that you can then see coming to life. So, if you have the budget for it, an extension project could be fun, and the outcome will mean additional space to enjoy and share.
Conclusion: There are many upsides when it comes to extending the home and it could be a great way to utilise space and add value to your property. However, careful planning and realistic expectations are a must, and it is always worth considering alternative options along the way.