Why Moving is Becoming More Attractive than Extending

Ash Vale Branch Manager, Nick Kirby shares his insights into why it is that after some years, many homeowners are choosing to move rather than extend.

Today, a significant shift is underway in how homeowners lifestyles’ evolve with their property. With building costs climbing and regulations tightening, moving to a larger home is often the more straightforward, cost-effective choice. What might surprise you is that there are numerous reasons for this…

Rising Construction Costs

• A shortage of skilled labour and higher wages in the building trade have pushed prices up significantly.
• Materials such as timber, steel, concrete, insulation and plasterboard have all become more expensive, influenced by Brexit, Covid, and the war in Ukraine.
• Homeowners are frequently surprised to find an extension can cost about £225 per square foot, often making it pricier than buying a larger property that already suits their needs.

Planning and Regulation

• Local planning departments are facing backlogs, so approvals can take much longer.
• New regulations on energy efficiency, fire safety and drainage add to costs and complexity.
• Some councils are increasingly strict on extensions that alter the character of a street or impact neighbours’ light and privacy.

Mortgage Considerations

• While mortgage rates are higher than a few years ago, lenders remain more willing to fund a property purchase than a major home improvement loan.
• Buyers can often secure relatively competitive mortgage products compared with the high cost of personal loans for building work.

Stamp Duty and Incentives

• Adjustments to stamp duty thresholds have made moving more appealing, especially in certain price bands.
• For some, the extra tax is still less burdensome than the financial and practical stress of a large-scale build.

Lifestyle and Market Trends
• Remote and hybrid working patterns mean families need more space immediately—not after 18–24 months of building disruption.
• In some areas, house price growth has softened, so “trading up” is less daunting financially than during the 2020–22 peak.
• Moving also brings lifestyle benefits that an extension can’t—such as improved schools, shorter commutes, or a better location.

The Bottom Line
Soaring build costs, tougher planning requirements and the relative ease of securing a mortgage are tipping the balance towards moving rather than extending. For many homeowners, it’s not just about gaining space—it’s about gaining it sooner, with less hassle, and often with added lifestyle advantages.

If you’d like to gain more from your money and make your home move, feel free to pop into our Ash Vale Office for an informal chat with Nick Kirby and his team, contact them on: 01252 353030, or ashvale@mackenziesmith.co.uk or book an expert valuation, here.

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