The dream home you bought a few years ago might not be sufficient to accommodate your increasing needs and changing lifestyle anymore. As your family grows, so does your needs and you might need a bigger house with more number of rooms or a more spacious kitchen and living area, to enjoy a convenient lifestyle. This is a common scenario faced by almost every other homeowner and at such times you have two options, either to extend your home or move to a new house.
Choosing a better option among these is not easy, as there are plenty of things to consider including cost, convenience and future plans. To make your decision easier, mentioned below are some scenarios to know when it is better to extend your home and when it is more feasible to move.
You should extend your house when:
The area you are currently living in is desirable and centrally located By extending your home which is located in a popular suburb, you are not only creating extra space, but also adding to the value of your home.
You require more living area Extensions are great for enhancing the usability or functionality of your home. By extending the kitchen or living area a little, you can make significant improvement in your living space. You can also opt for an open plan which can make your home more specious and liveable.
You want a modest addition If you want an extra room for any specific purpose, like for setting up a home office or use as a reading room or play area, then extensions make a better choice. You can get your purpose served by adding one room and without bearing huge costs.
You should move to a new house when:
You need significantly bigger floor space Your kids are growing up and the current rooms do not seem spacious enough, then buying a bigger home makes a more practical choice. The cost of moving to a new house is likely to be lower than adding another storey or increasing the entire floor space.
There is not enough space for extension If you are living in an apartment or if making an extension means sacrificing a major part of outdoor space, then it is better to move than affect the functionality and aesthetic appeal of your home.
You are ready to change your location or lifestyle Moving to a new house means leaving behind your old neighborhood and memories attached to your home. If you and your family are comfortable with the idea of starting a new life at a new location, then you can opt for moving.
Being a homeowner, it can become quite difficult for you to decide whether you should move or extend. Considering the long term impact of your decision, it can become even more complicated to make a worthwhile and wise choice. It is advisable to carefully explore the choices you have and then decide which of the two options makes better sense in your particular case.
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