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The Recent Rise in House Prices Sparks a Huge

Growth in the Need for Home Extensions

Spiraling house prices have caused an extension boom among homeowners, as it is more cost affective than buying a bigger house. 

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Families are finding it is cheaper and easier to extend their living space rather than buying a larger home, which also means there is no stamp duty, estate agent’s & conveyancing fees or removal costs.

The number of homeowners having major work carried out rose by more than a fifth in the first three months of this year. It has been reported that the Royal Bank of Scotland has recorded a 26 per cent rise in customers looking to increase their mortgages to fund extensions for bigger kitchens, loft conversions, conservatories and basements.

Owners moving to a £600,000 home face a £24,000 stamp duty bill, plus removal costs and estate agent’s fees that could total £7,500. Depending on where you live, a single-storey extension can cost between £20,000 and £80,000, and a loft conversion from £30,000 to £55,000. 

DMB Solutions carries out a range of ways to expand your home, which include home extensions, loft conversions and basement extensions. For more information on expanding your homes, please contact us at enquiries@dmb-solutions.co.uk.

 

 

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