Why Extending Your London House in 2023 is a Smart Investment: The Benefits of Adding Space and Value to Your Property
Published by Kluk Construction Ltd.
Posted on 16 January 2023
London is a city that is always in high demand for housing, and this trend is expected to continue in 2023. One way to increase the value of your London home is by extending it.
In this article, we will explore the benefits of extending your London home in 2023 and why it is a smart investment.
Growing population
Firstly, the city’s population is growing, and there is a high demand for housing. This means that properties with more space and additional rooms are likely to be more attractive to buyers and renters. An extension can add an extra bedroom, bathroom or even a separate living area, making your home more desirable and potentially increasing its value.
Steady rise over years
Secondly, house prices in London have been steadily rising in recent years, and this trend is expected to continue. By extending your home, you can increase its square footage, and therefore its value. This can be a great way to add value to your property and potentially make a profit when you decide to sell.
Extra space needed after pandemic crumble
Additionally, extending your home can also provide additional living space for your family. If your home is feeling cramped, an extension can provide the extra space you need to comfortably accommodate your family’s growing needs. This can be particularly beneficial for families who are planning on staying in their home for the long term.
Value gain over spend
Moreover, the cost of extending a house in London can vary depending on the type of extension, location and the size of the property. However, with the right planning and execution, the cost of extending can be worth the investment. As a homeowner, you can consider planning permission, building regulations, and the cost of the construction.
Fight against inflation?
Finally, London’s housing market is relatively stable, and it is expected to remain so, even in the face of economic uncertainty. This means that investing in an extension now could be a wise decision, as it is likely to add value to your property in the long term.
2023 is a year to go for it
In conclusion, extending your London home in 2023 can be a wise decision. Provide additional living space for your family, and take advantage of the strong housing market.
It is always recommended to consult with a contractor to get a better idea of the potential return on investment.
With the right planning and execution, extending your London home can be a smart investment.
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