Trusted Architects in Whitstable

IS IT CHEAPER TO MOVE OR EXTEND HOUSES IN THE UK? The decision to either move or extend a house in the UK is a significant one, often influenced by financial considerations, lifestyle preferences, and the practicality of each option. Both choices come with their own set of advantages and disadvantages. Making it crucial for homeowners to weigh them carefully before making a decision. Among the key factors that come into play, cost undoubtedly ranks high on the list. So, is it cheaper to move or extend houses in the UK? Let’s delve into the intricacies to help you make an informed choice. Cost of Moving: Moving to a new home is an exciting prospect, but it can also be financially demanding. The cost of moving is not limited to the purchase price of the new property; it involves various expenses that should be taken into account: Estate Agent Fees: When selling your current property, you’ll need to pay estate agent fees, which are typically a percentage of the property’s sale price. Stamp Duty Land Tax: If the property you’re purchasing exceeds a certain threshold, you’ll be required to pay Stamp Duty. This tax can significantly increase the cost of moving, especially for higher-priced properties. Legal Fees: Conveyancing fees cover the legal work involved in buying and selling properties. These fees can vary, but they’re an essential part of the moving process.