Sell Up or Stay Put – What’s the Best Move for Your Family?
It is rare for modern families to stay in the same home for many decades. Whereas our forefathers built a home from scratch and passed it down through the generations, we are far more likely to buy a starter home and then upgrade as our families grow. However, selling and upgrading – or downgrading – is not always the right move.
Moving home is an expensive business. There are many costs involved in moving home, not least the legal costs and estate agent commission for helping you find a buyer. You may also have to pay a removal company to shift your belongings, not to mention a surveyor to reassure you that the property is not about to fall down into a pile of rubble. If you need an instant valuation, you can approach a company such as Propertycashbuyers, but before you get that far, it makes sense to really give some thought as to whether you really need to move.
Extra Bedroom Space
The most common reason why people decide to move is because they have a growing family and they are running out of space. Couples typically start off in a one-bed flat, so when baby makes three, they need an extra bedroom. If you don’t have enough bedrooms and the kids are crammed in like sardines in a can, upgrading to a larger home is the obvious solution. However, before you take that step, consider whether it could be possible to extend your current home by adding an extension.
Loft conversions are a popular way of adding an extra bedroom or two, but you could also look at converting your garage into a downstairs bedroom if there is not enough room to add an extension. Do the sums and see if it makes financial sense – you may be surprised to find it’s cheaper to stay put.
Extra Living Space
Another common reason to move is because families need more living space. This problem is easily fixed by adding a conservatory or garden room. Modern conservatories are far more energy efficient, so they can be used all year round. And remember, it is cheaper to add a conservatory, orangery or garden room than it is to move to a larger home.
If extending your home is not an option, think about other factors before you sell up and leave. Do your kids go to school nearby? Moving to a new home may mean a change of school, which is disruptive to a child’s education. To be able to afford a larger home it is likely that you will need to move to a cheaper area, which may well be outside of the current school’s catchment area. Bear this in mind before you start making plans to move.
Always make a list of the pros and cons before you decide to move. Sit down as a family and talk this through. Your kids need to have a say in the process, too, as they are just as affected by moving home as you are.