The good: You get a shiny new home
You may be able to find the perfect property at the right price in the right location. If you can afford it, you'll be able to buy somewhere bigger, without the chaos of builders and the accompanying brick dust.
You could find something ready to move into with a layout and set up that suits your household's needs better. You could end up with more space, a bigger garden in a better area.
The bad: You may still have to do some work
How many houses have you seen on the market, in your price range, that you’d be happy to keep exactly as they are? You could move and still find yourself with work to do, whether it’s just giving some rooms a lick of paint or bigger jobs like fitting a new kitchen.
The ugly: the cost
The costs of moving soon add up and the money doesn’t go into the long term value of your home. Stamp duty adds up to £2,500 for a home worth £250,000 and the more expensive home you buy the more you'll pay. Typical estate agent fees can be anything between 0.75% and 3.5% of the selling price and run into thousands. Plus there are solicitors’ fees and even the price of hiring a van to consider.
The verdict?
It’s a tough one. Before you stick the for sale sign up or get the builders in you need to think carefully about what it is you’re looking for from your home and how much money you can afford to spend.
Still stuck? It’s also worth asking the experts. Get quotes from local tradesmen and the planning office to see what improvements are realistic and ask your local estate agent to send you details of houses that meet your requirements. Good luck!