Need a bigger home for a growing family and stuck between a rock and a hard place? Deciding whether to stay in your current home and extend it, move to a bigger house or even go the whole hog and go for a new build that will last them a lifetime.
If your feeling confused and a little embarrassed trying to make such a massive decision……then your not alone. How can you know the answers to critical factors that will influence this decision such as costs involved, whether you would get planning permission or not, and how long each choice will take.
We had a client in a similar position and once I shared with them what I’m going to share with you here, they were able to make a decision that suited them and they decided to extend their current home.
So here’s what we shared with them….
Factors to consider when moving to a new house:
Will you need to get the professional in to help with the move? Don’t forget all the packing and label the boxes so you know where everything is.
Before you fully commit to buying the property, you will need to engage a professional to do the once over. You don’t want to buy another person’s problems. At least this way you will have peace of mind and also your bank for the mortgage will require it.
Stamp duty & fees associated Solicitor
Unfortunately, there is no way out of these and it is always the buyer that has to pay the stamp duty. Your solicitor will need to carry out searches on the property to ensure there no skeletons to come back to bite you.
All properties for sale require a BER rating. This informs you on how energy efficient the property is.
Transfer of Utilities and Services
It would be a good to set up the transfer for internet, electricity, tv, etc as quickly as possible to avoid stress and in trying to co-coordinate all.
A deep clean
You are going to either pay in time or expense for this, but starting your new live in you new home with a clean slate will be worth it.
While doing a total on costs, you can factor in a decent €10k for all the expenses.
New school choices
Depending on where you are moving to, you may need to consider new schools for the kids and how will they settle in.
Distance from places of current employment
What will your commute be like, is there extra distance to be covered and will this impact time with the family. Perhaps you might be able to work from home and moving further out to a bigger house is ideal.
What are the local amenities like? Will there be clubs and activities for all the family?
If you have very young children distance to family will be an important consideration. In your current situation, are the grand parents only around the corner? Will you and the children miss them and you their assistance? Another property will take time to get used to, how it will function for you and your family? Do you have a clear idea of what you want from the new house? Do you need to move in and understand the house before you undertake any major work?
Factors to consider when upgrading your current house:
What currently frustrates you most about your current home?
What do you find wrong? Why is the house not working for you and your family at present? Define your brief?
Have these alterations ben made by other houses in your neighbourhood?
Have any of your neighbours carried out alterations or extension? This will give you an idea of what can be done.
How much room will you need in 10-15 years’ time?
It might only be for a short time when everybody is under the same roof. What is the plan when the children fly the nest?
If you get this work done will it add a lot of equity to your home or are you going to hit a market cap ceiling?
Each area has a market value, you don’t really want to be spending more than what you can get back if you ever put the property for sale.
Have you asked a professional on what will be involved, an approximate cost and time line for this work?
A professional should be able offer guidance during an initial consultation on what might work for you and potential costs involved.
Are you & your family prepared to live in a building site for a few months?
Depending on the works involved, you may need to more out of the property. Perhaps, the works are small scale and the contractor can allow you to continue to live on site. However, Health & Safety of all is of paramount importance.
All you need to do is answer these questions honestly and you’ll find that your question of whether to stay or go will answer itself. So, as you can see ‘deciding to move or extend’ doesn’t need to be a minefield of confusion!
If you’re really serious and want to know exactly what you can do with your home then we offer a service – ‘Feasibility Assessment Consultation’ that does all this for you. Simply send an email to [email protected] and we can go from there or view more information about this service here