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Move or Improve?

Updated: Jan 22

As our families grow our home requirements can change. A new baby or a parent coming to live with us can call for a larger home...

If you live in or near London, with space at a premium and very high property prices, it will probably be worth your while to extend and improve your home rather than move. Especially if you have garden space or an unused loft or garage as these offer huge potential for a convenient and financially viable home improvement.

Even a more expensive extension, for example, digging under your home to create a basement space, may cost you less than moving to a bigger home in or near the capital city.

There is also stamp duty to think about, which increases with the property's purchase price. Many homeowners are finding that the cost of extending their current home is less expensive than the amount of stamp duty that would be paid when moving.

The average London house price has now topped £600,000 and a home costing £650,000 will see the buyer pay £22,500 in stamp duty.

There are also estate agent fees, solicitor’s fees, and moving company costs to take into account, as you can easily run up tens of thousands of pounds in these professional expenses when moving house.

Here at Asset Design & Build, we pride ourselves on helping our clients create their dream homes, with the minimum disruption. We can do everything from designing your improved home to getting your planning permission if required. Then we manage all building works, right through to handing over the end product - A home that works perfectly for you and your family!


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