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Move or improve your home​

It can be a tough decision on whether to move or improve where you live.

We’ve looked at the pros and cons of both options to help you decide what’s right for you.

 

What is your overall goal?

The first thing you need to do is decide what improvements you want. ​

You may want more living space, a bigger kitchen or more bedrooms. ​

Once you’ve decided what you need , it’ll help you decide whether you have the space and what options you have in your current home.​

Extension

Could you build out at the back or side of your home? You may be able to dig out or convert a basement into a useable space.

Refresh your bathroom

It doesn’t need to be a full refit. Some fresh tiles or flooring will make the room feel brand new.

Conservatory

This could add a peaceful, relaxing space to your home or extra room for entertaining.

Loft conversion

Make your existing attic space usable. Putting in a dormer window will add space and light. You may not need planning permission as loft conversions often come under different regulations. The government website details the Rights of Permitted Development, which allow you to make certain changes to your home.​

Update your kitchen

Depending on your budget, you could have a total redesign or just give your kitchen a fresh coat of paint. Even updating your appliances could transform the look and feel of this room.​

Garden updates

A simple and affordable way to improve your home is to upgrade your garden. Adding decking or a patio can also add value to your home. Although it’s more expensive, an outbuilding or garden room to add extra living space, can be a great idea.​

The pros and cons of making home improvements

Here are some of the things you may want to consider.

Pros

  • You may love the area you live in, and it fits your lifestyle.
  • Depending on the size of the renovation, it might be cheaper than selling and moving.
  • If you improve your home, you can decide what you want. For example, a bigger kitchen, larger bathroom or open-plan living.
  • You could add value to your current home. You’d benefit from this if you decide to sell up in the future.

Cons

  • Having work done at home is messy, disruptive and can be stressful. You might need to move out while the work happens.
  • It can be expensive. If the project takes longer than predicted or materials increase in costs, it could take you over your budget.
  • A large renovation, such as an extension, might be more expensive than the value it would add.
  • Getting planning permission can be long-winded and you may not even get it granted.

The pros and cons of moving house

Here are some things to think about before you decide to move.

Pros

  • Moving may give you a home with more space without the disruption of building work.
  • Downsizing to a smaller property, if your children have left home, may release some equity for you to enjoy.
  • If your family is growing, moving could give you space to grow into.
  • If your existing home needs work, moving house may be more appealing. It would save you the expense and bother of doing the work yourself.

Cons

  • Fees and costs for moving can add up. You need to consider legal fees, surveys, stamp duty and possibly a removal company.
  • ​Property chains can be stressful – if the chain breaks, it could be costly, and you could lose the house.
  • ​House prices can be volatile, so it's hard to know the best time to sell.​
  • Sentimental attachment to your existing home can make it difficult to leave.

Let’s take a closer look

  • According to the Homeowners Alliance, the average cost to move house in the UK in 2024 was just over £10,000 for an average house priced at £292,000.​

    There are other costs to consider. Add up the costs for your deposit and mortgage fees, conveyancing and surveyors.​

    You’ll also potentially be borrowing more money on a mortgage, so there’s interest on this amount to consider.​

    You’ll also need to factor in stamp duty, estate agent fees, removal costs – either by doing it yourself or hiring people, storage, childcare and pet care for the day.

    • How much a renovation costs will depend on the scale of the work you have carried out. ​
    • To get a quality job, it can be a good idea to pay a professional to do the painting or fitting a new kitchen. Costs for labour and parts can vary. ​
    • Be sure to find a reliable builder and get quotes from multiple companies before deciding who to use. And, if you can, look for recommendations. ​

Switch to a new mortgage deal

You could avoid legal and valuation costs by remortgaging to Halifax.

If you already have a Halifax mortgage, then you may be able to do a product transfer.

Remortgage to Halifax   Product transfer

You could lose your home if you don’t keep up your mortgage repayments

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Thinking of moving home?

Is it time to sell your home or look for a new one? Make moving house less stressful with our essential advice and tips.

Moving home help

Thinking of moving home?

Is it time to sell your home or look for a new one? Make moving house less stressful with our essential advice and tips.

Moving home help