Hanzo Design and Build

Relocate Homes? Reasons Why

The question of whether to move out of your residence can be bothersome when you think of staying put in a neighbourhood you have lived in for many years. You love your neighbourhood yet you seem to have no choice but to relocate homes because your family and business have grown beyond the capacity of your existing property.

You need to perform a cost-benefit analysis of both options. By weighing the risks against the benefits, you should be able to determine the better alternative. However, if you are looking for an affordable way of attaining your dream home, you will find that the costs and hassles of relocating, purchasing and extending a new property do not fit your budget.

On the other hand, if you stay put, you risk spoiling your house because of extension. However, you can avoid ruining your home if you get things right. You will not be wanting to spend too much money on extending a home whose value will not guarantee you a meaningful return on your investment in the long run.

Here are the reasons why should not relocate. Let us check them out!

1. Extending

The value of your house depends on how many people want to purchase your house type and in your neighbourhood. The value of a house can increase just by its location in the most popular street. You do not expect to undertake a costly extension such as adding a basement in a low-value neighbourhood. It is not worth it.

It is also unreasonable for you to purchase a new home when you can build or extend it. Your choice depends on what you will get out of your investment. Buyers are unlikely to purchase a home with tiny kitchens, bathrooms and bedrooms. It does not matter whether the living room is large. You will also not be wanting to spend too much money on a building whose price goes beyond the reach of the many.

You need to estimate how much money will go into extending a home in your neighbourhood. Besides, you will need to take into account the cost of inevitabilities such as drainage and project size. Furthermore, you need to take into account the cost per square metre of building works. It usually ranges between £1000 and £1600. Also, the government levies a 20% VAT on every manner of building works.

Additionally, you will need to hire architects and structural engineers. This personnel together with planning permission and building inspections should account for around 10% of construction costs. You also cater to your accommodation and culinary needs during a  construction period. If you wish to apply for planning permission, please visit the Planning Portal.

Relocate homes if budget allows
Above: Do not relocate homes, extend them

2. Relocating

Extending your home may sound like a better alternative to buying a new home. Also, you may have to dig deeper into your pockets. Construction is also a very wearisome undertaking. However, this should not deter your ambition to relocate homes. This is not to say that relocating is cheaper. You have to meet the costs of the agency, search, stamp duty, survey, décor, and removal for the sale of your home.

While cost-benefit analysis is a burdensome task, it is good to cut the long story short by asking for estimates on construction works and then plus them to the current value of your existing home. You will have to investigate what type of homes you could purchase with a similar budget. Do not forget to consult estate agents in your locality about what type of extensions appeal to home buyers.

Do not relocate homes without doing a proper background check. This will save you from disappointments later on.

Hanzo.The design will advise you accordingly and help you conduct an effective cost-benefit analysis. We have a diverse array of talent-rich professionals who are committed to ensure your project succeeds. We will relieve you of the burden that comes with project management.

Also, we have experience developing documentation for planning permissions. Our architects will design for you computer-aided design drawings that accurately capture plans and elevations of your house. These drawings are a prerequisite for planning permissions and building regulations. We also provide three-dimensional models to help you with decision-making.

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