Channel 4 has recently set TV favourites, Phil & Kirsty a new challenge in property development with a UK version of the US top rated home makeover show ‘Love it or List it?’. The series which aired earlier this year on Channel 4 pitched the enticing prospect of a shiny new home against work on an existing property to deliver your dream home and the financial implications of doing so.
With lots of the episodes focusing on loft conversion opportunities, I have to admit I found myself becoming slightly obsessed with the show and binge watched the series during the infamous Beast From The East which left me stranded in my own rural village pondering my next move for me and my young family.
Many of our clients, past and present are looking to enhance and improve their homes with a better entertaining space and hosting space, the key elements being the family room / Kitchen / Diner and number of bedrooms. We, myslelf included, can easily be seduced by show homes and all the mod cons they have to offer but with increasing fee’s and stamp duty the average costs associated with moving home in this area are £12,500 for stamp duty and £11,000 in fee’s alone before you increase your mortgage.
So could the money spent on moving house be better used transforming your existing home? The statement ‘only move if you’re in the wrong location’ can also be considered. Many of us choose to settle in locations that tick all the right boxes but then outgrow our homes, but by moving you lose connections, a manageable commute, relationships and support networks. So why choose to overhaul these important parts of ourselves and our lives when we could overhaul our homes?