Whilst the market has been stuck in a range price-wise over the last several years we have seen a number of buyers who have opted for the option of extending rather than moving home.
The question is… does it work out cheaper for them in the long run?
Why would you extend rather than move? It could be down to negative equity situations or some home owners may wish to keep their current location but struggle to find a larger home.
This undoubtedly is a contributing factor to the reason there is limited stock in the market right now because people have created a larger home from the current existing property. However, we do expect to see more property becoming available as there is more new build property being completed towards the beginning of 2015. These new homes well encourage movement in the marketplace, stabilise prices and help with the housing deficit.
If you would like to talk about if you should consider an extension or move, or indeed are considering buying a new home, we can help, call us on 01603 432000.
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