Why You Should Refurbish Rather than Move
Refurbishing your existing home can often be a wiser option than selling up and moving. If you live in an up-and-coming area that is becoming more expensive to buy in, or you simply need more space for your family, staying put and making significant improvements can be just as effective as moving to another home elsewhere – not least because it can be much less costly.
Here are several reasons why you might want to consider refurbishment rather than a move:
Building an Extension Could Add Huge Value
If you have become fond of the area you live in but you need a bigger house, you should consider building an extension. This would allow you to stay where you are yet enjoy much more space at the same time.
Furthermore, from a financial perspective, an extension could potentially add a great deal of value to your house when you do go on to sell it in the future. An extension at the back of your house – both upstairs and downstairs – would most likely result in an additional bedroom (or bigger bedrooms) upstairs, and a bigger kitchen and/or living space downstairs; naturally, these improvements would make your home more desirable, and would probably allow you to command a higher asking price.
Of course, this is never guaranteed in every instance, but research carried out by Nationwide in 2014 suggests that an extension could add 21% to the value of your property.
Refurbishing Eliminates the Stress of Moving
One of the main disadvantages of moving house is the stress it can cause over potentially long periods of time (several months or longer are not unusual timeframes). The physical act of moving itself, the situation of being in a chain, and the constant risk of last-minute changes to long-agreed plans can all put pressure on you and your family.
Of course, renovation and refurbishment can bring stress, but on a smaller scale. You do not have to renovate the whole property at once – you can take it a room at a time, if you are not in a particular rush. If you are having an extension added to your home, there may be a period of a few weeks when you are inconvenienced or uncomfortable, but in most cases this will not last long.
Moving Sometimes Requires Heavy Renovation Too
Very few of us buy houses that are already decorated and laid-out to our taste; there is usually some work to be done. This could be anything from repainting all the rooms and re-carpeting them, re-plastering all the walls, or knocking walls through to amalgamate small rooms into larger living spaces.
Financing a Refurbishment Is Simple
Whether you require funds for a big extension or just need the cash for a thorough redecoration project, there are ways to access this money quickly.
At Affirmative we provide bridging finance, which is a convenient option if you are looking to quickly fund a home refurbishment or extension.
For more information, contact us by email or call our Manchester office on 08000 44 84 84.