Every homeowner reaches a crossroads at some point: the decision between moving to a new home or extending their current one. With 2023 bringing its own set of challenges and opportunities in the Glasgow property market, this decision has become even more significant. This article delves into the pros and cons of “move or extend”, helping Glasgow homeowners like you make an informed choice.
Even though there are many challenges in the current housing market, there are many people looking to move home this year, or soon after. Here are some of the most compelling cases for moving home in 2023.
2023 has seen a dynamic shift in the Glasgow housing market. With property prices fluctuating and certain neighbourhoods becoming hotspots, the allure of a new home in a different location is tempting for many. The average cost of homes has seen a moderate increase, but there are still pockets of affordability scattered throughout the city.
According to Rightmove, as of September 2023, the overall average price of Glasgow property in the past 12 months is £207,283. Sold prices for Glasgow have risen 5% in the past year, but are still 10% less than 2006 property peak, when the average price of Glasgow property was £230,360.
A quick overview of house prices in certain parts of the city (and other areas for comparison) shows:
Rightmove states the most expensive area in Glasgow for property is Hyndland with an average price of £374,413. The most affordable area to purchase property in Glasgow is Springburn, with an average property price of £93,153.
Outside of Glasgow, you have a range of average house prices to consider.
In Renfrewshire, the average property price is £180,877, while in East Renfrewshire, the average price is £322,791.
The important thing to take from this is that Glasgow, and the West of Scotland, has a wide range of average property prices, so make sure you consider your area, and the relevant price for your home. Average property prices are helpful, but it is always best to get a property valuation for your home, allowing you to make a more informed decision.
Moving to a new home can feel like opening a new chapter in your life. It’s a chance to start fresh in a different setting. Here are some of the perks:
New Surroundings: Every neighbourhood has its own charm. Moving lets you discover new parks, shops, and local cafes. There is a lot of joy to be had in exploring new-to-you areas, finding gems and places that make you feel at home.
Modern Amenities: Newer homes or different areas might offer features your current home doesn’t. Think of energy-efficient systems, smart home technology, and comfortable surroundings.
Space Upgrade: If your family is growing or you’ve picked up new hobbies, you might need more room. Moving can offer you a bigger space that fits your current lifestyle better.
Avoid Construction Hassles: Extending your home means dealing with noise, dust, and workers for weeks or even months. By moving, you skip all that fuss. You pack up, move, and settle in without the daily disruptions of a building site. Even as a building company who works efficiently, we appreciate our work causes disruption at times, and many people would rather avoid this situation.
Financial Flexibility: Sometimes, moving can be a financial strategy. If you move to a more affordable area, you might free up some cash. Or, if you’re upsizing, it could be an investment in your family’s future.
In short, moving can be more than just a change of address. It’s a chance to reshape your living experience to better match where you are in life right now.
However, moving isn’t without its challenges. The costs – from estate agent fees to removal services – can add up. Additionally, the emotional toll of leaving a familiar environment, coupled with the logistical challenges of shifting, can be daunting for many.
Extensions are gaining traction in Glasgow, and at Bradshaw Extensions, we have helped many homeowners develop their home, allowing them to stay where they are. More homeowners are recognising the potential of their current spaces and opting to expand rather than relocate.
Choosing to extend your home can be a smart move for many reasons. Let’s dive into some of the main benefits:
Value Boost: Adding more space, like an extra room or a bigger kitchen, can make your home worth more. When you decide to sell, this can mean a higher price, allowing you top upscale your surroundings, or create funds to use in a different way.
Tailored to You: One of the best things about extending is that you decide how everything looks. Want a bigger window for more sunlight? Or maybe a special play area for the kids? You get to make your home fit your dream.
Save Money: Moving homes comes with lots of costs. There’s the estate agent, the movers, and all the little expenses that add up. Often, extending your current home can be cheaper than all these moving costs.
Stay Where You Love: If you love your neighbourhood, your neighbours, or your kids’ school, extending means you don’t have to leave. You can enjoy the new space without saying goodbye to the old memories.
Less Stress: While building work can be messy, it’s often less stressful than moving. There’s no need to pack up everything you own or change your address everywhere.
In short, extending gives you more space and can save you money. Plus, you get to stay in the place you call home. It’s a win-win choice for many families.
While adding space to your home sounds great, it’s not always smooth sailing. Here are some hurdles you might face:
Noise and Mess: Building work can be loud and messy. There might be drilling, hammering, and lots of dust. It can be a bit chaotic until the work is done.
Legal Stuff: Before you start building, you need the right permissions. This means paperwork and maybe even meetings with local councils. It can be a bit tricky to get your head around all the rules.
Neighbourhood Rules: Some areas have special rules about what you can and can’t build. This might be because of the area’s history or how it looks. It’s important to check these before you start.
Unexpected Issues: Sometimes, builders find problems once they start work. Maybe there’s a hidden pipe or the ground isn’t as stable as you thought. This can mean changes to your plans.
Costs Can Add Up: While extending can be cheaper than moving, costs can rise. It’s good to have a bit of extra money set aside just in case.
Time: Building takes time. Even if everything goes to plan, you might be looking at weeks or even months of work. It’s good to be prepared for this.
While extending can be a great choice, it’s important to be ready for these challenges. With good planning and a bit of patience, you can get the space you dream of.
Here are some simple things to think about:
Your Money: Start by looking at how much you can spend. Sometimes, building work can cost more than you think. There might be extra costs that pop up. So, it’s good to have a clear budget.
How Much Space You Need: Think about the space you want. Can you get it by making your current home bigger? Or do you need to move to a whole new place?
Think About the Future: Where do you see yourself in a few years? If you’re planning big changes, like a bigger family or working from home, this can affect your decision.
Your Feelings About Your Home: How do you feel about your current home? If you have lots of happy memories there, it might be hard to leave. But if you’re ready for a fresh start, moving could be right.
The Area: Do you like where you live now? Are there shops, parks, and schools nearby? If you move, you might need to find new places.
Time: Building work can take a while. If you need more space quickly, it might be faster to move.
There’s a lot to think about. Take your time, think about what’s best for you and your family, and make a plan that suits your needs.
Whether you’re leaning towards relocating or building an extension, the decision ultimately hinges on personal circumstances and preferences. Take the time to evaluate both options thoroughly. And if you’re considering an extension, remember that experts like Bradshaw Extensions are always on hand to offer insights tailored to your situation. For more on how we can assist, visit our Builders Glasgow page.
Specialising in bespoke home extensions, Bradshaw Extensions combines expertise with a deep understanding of Glasgow’s property landscape. Explore our Builders Glasgow page to see how we can transform your home or give us a call on 07927275538 to discuss your extension needs or plans.