Move or Improve?

The decision between moving to a new home and improving your current one can be a really tough one to make. We explore the pros and cons of moving versus improving, paying attention to the costs involved and the options you’d have to fund your home improvement at no extra cost.


The likely costs associated with your possible choice to move would include the difference between your old home and your new house, sale costs, removal costs, and hidden costs.

The difference between your old home and your new house

Normally, the difference in property values which you’ll have to fund is done so through taking out a bigger mortgage. It’s best to find out what the costs of the subsequent mortgage arrangement and valuation fees will likely be.

Sale costs

Sale costs are quite extensive, including agents fees, stamp duty land tax, conveyancing fees and their associated costs, and disbursements (which include a local authority searches fee, drainage and water search, environmental searches, land registry search fee, bankruptcy search , and a land registry transfer fee).

Removal costs

Removal costs depend on the volume of goods you have to move and the distance between your old and new home, as well as whether or not you pack the goods well yourself or indeed if you’re looking to have a company protect some of the larger items of value for you.

Hidden costs

As an average figure, a new home comes with around £5,750 in a whole range of hidden costs which include the likes of repair bills and problems such as structural defects, subsidence, and rot. Possible hidden costs for some redecorations, maintenance and repairs might have to be factored into your budget, while a survey of your prospective home purchase might protect you against these hidden costs.


If you’re thinking a lot closer to your existing home then with the right approach you can fund your home improvements at no extra monthly mortgage cost.

A three-bedroom house can be turned in to one with four bedrooms for less than £10,000, a project which could even have you enjoying an en-suite bathroom thrown into the bargain! Since  bathroom doesn’t need an external window, it can be moved to the master bedroom if the master doesn’t already have an en-suite, otherwise it can be moved to another room which can be created by making a room between the front and rear bathrooms.

Knocking down an internal wall located between the dining room and kitchen can create some space which is a lot more usable, resulting in an open plan of which the alternative can be turning the wall into a dining area to separate the kitchen from the dining room.

For some extra space, a chimney breast can be removed.

An existing loft or cellar space can be converted by perhaps installing a new bathroom in that area.

The living space can be enlarged via the construction of a small rear living room extension, with plenty of ideas and detailed plans available from your Mortgage Brokers as to exactly what is possible.