New Data Shows Interest for House Extensions Hits ATH in 2020
Homeowners are seeking information about house extensions at a higher rate than ever before. Google data shows that the search term ‘house extension’ has reached an all-time high in 2020, as homeowners look for ways to get the most value out of their homes.
Perhaps it is not surprising that as the UK went into lockdown for the first time, homeowners were searching terms related to expanding their living spaces.
With working from home becoming more prevalent, people are starting to demand their houses works harder for them than ever before.
Whether it is the necessity of having a fully-functional workspace or creating a sanctuary from the hustle and bustle of the rest of the house, homeowners are craving more space and flexibility within their homes.
However, it is not solely due to the pandemic.
After a pronounced dip during the 2010 recession, interest in house extensions has been steadily rising year on year, with peak interest usually occurring during the winter months.
Besides the desire to increase your living space and giving you the potential for a home office, home gym, or maybe a recreation room, there are clear benefits to a house extension.
Firstly, it is much cheaper than moving house and, therefore, a more achievable option for many homeowners.
Saving the required amount for an extension can be done in a much shorter period than the often several years it can take to build up a deposit and get a mortgage on a new property.
So, how much does the average extension cost?
What Extension Costs to Expect
If you join the extension trend, you are looking at between £16K to £67K, plus VAT, depending on the size of the extension and the property itself. However, the average extension cost also changes depending on your location, with those living in London and the South East paying around £20,000 extra.
Other costs to consider include planning permission, party wall agreements, plumbing and electricity (particularly for a kitchen or bathroom), windows, and finishing touches.
Still, in many cases, the benefits vastly outweigh the cost.
After all, just because you’re in need of a bigger house, doesn’t necessarily mean you want to leave your current home.
An extension enables you to stay in the house you have made a home, keep the same neighbours, and retain all the advantages of living in an area where you are comfortable. The only difference is you will have more space to enjoy.
Finally, providing your house has not already hit its ceiling price (always check with a qualified estate agent before committing to an extension), an extension will usually add value to your property.
Of course, searching for information on extensions will not translate to actual building work in every case, but the all-time high in searches still suggests that a significant portion of UK homeowners are looking at house extensions as a practical solution to increasing their living space and/or the value of their property.