Home addition vs moving house
There are a number of reasons you might be considering moving house, but typically it’s due to outgrowing your home. As your family grows, space quickly becomes limited. With that said, moving can be costly, time-consuming, and can mean leaving an area you’re familiar with. A home addition or extension can be a viable alternative.
We all know, moving can be very disruptive. In contrast, when completing an addition, this can have much less of a disruption to your family life. This is especially true if you are able to continue to live in your home while the work happens. This disruption level will depend on the scope of the project. Larger extension projects may mean it’s actually more disruptive than moving. If you plan to move house in the foreseeable future, you may wish to avoid multiple ‘headaches’ and dive into a move instead of a home addition.
Staying in the neighbourhood
If you’re happy with your neighborhood this can be a big perk. Having to move and establish yourself in a different community or your children joining different schools can be challenging. By opting to add a home addition this avoids the need to leave an area you’re familiar with. In contrast, if you’re unhappy with where you currently live, the schools in the area, or perhaps your current home is not somewhere you see yourself long term, it might be a better option to move.
Adding value to your home
By adding a home addition, you could be adding significant selling value. By adding two rooms you could change the bracket your home would sit in when you list it to sell. It could be a short term investment for long term gain.
Perhaps the biggest pro to a home addition is the cost. Typically the costs just associated with moving are at least $10k. Instead of using that money to move, putting it toward your home addition could be a better investment in the long term if it will add significant value to your home. With that said it’s important to consider if you want to stay in the area and the home. For example, if your home is aging, you don’t like the area or will outgrow the home extension, it’s likely a better option to use your money to move.
Depending on your home requirements and where you live, it might not be possible to get approval for the plans you have in mind. It’s worth looking into what’s possible before making a decision. You may find this makes your decision to move vs adding a home addition easier if you can’t gain the right approvals for your plans.
If you are currently deciding between a move vs a home addition, we would be happy to support. Feel free to reach out to us to find out more.Back to the Blog