Making the most of our homes when moving is not an option

April 17, 2009

Research published by the Council of Mortgage Lenders (CML) has found that two million households (April 2009) have either negative equity or too little equity to finance a house move. With moving home becoming less of an option, more and more of us are thinking of creative ways to increase our living space within our existing homes.

With a little imagination and creative thinking, your home may in fact offer more potential for expansion than we actually realise. You simply need to be pointed in the right direction to spot those hidden opportunities to either add more space or improve the existing layout.

Start by looking at all of the options for your particular house type, from extending up, out or down to changing the existing room plan. Then decide which option best meets the needs of your household and your available budget. Bear in mind that even if your extension adds less to the value of the home than what it costs, providing it gives you the space you need when moving is not a real option. Above all, please remember that we have been through property slumps before and any kind of improvement work you carry out will offer you the potential edge when you do finally come to sell and in the meantime, provides improved accommodation levels.

Five steps to increasing living space:-

  1. Establish your budget; to help you with this, why not visit the extension calculator located on the home page? This will give you a rough estimate of anticipated costs.
  2. Understand your property works for you; for example, would a single ground floor space be more beneficial when compared to 2 reception rooms?
  3. Identify potential constraints; for example, do you live in a listed building, has the house been the subject of previous extensions,
  4. Consider the potential options your house offers; for example, terraced properties offer considerable opportunity for remodelling and semi-detached properties off opportunity for loft conversions.
  5. Seek the advice of a building consultant; use their experience to help guide you.
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