We all reach a point where we have a love-hate relationship with our homes. Love the space in the living room, hate the tiny kitchen. Love the view from the bay window, hate climbing the narrow stairs.
But how easy is it to weigh up the costs of home improvements that increase the love factor against selling up and moving to a dream home?
Answer: very easy!
All thanks to our handy guide that lets you compare the average costs involved in both.
Let’s get improving!
What’s cooking?
The kitchen is the heart of the home, but replacing it is a big job. Prices vary depending on room size and quality of the units, but most fitted kitchens cost between £1000 and £3000 – plus the shiny appliances and fitting.
The cash splash
You can bag a bargain three-piece bathroom suite for under £400 or easily pay £700 or more. Add between £900 and £1500 to get a plumber to fit it – and check if their quote includes any plastering or tiling required.
The race for space
The costs of an extension vary according to materials and size. A general rule of thumb is to budget for £1500 for each square metre – so a 3m by 3m extension will cost £13,500. Conservatories can be cheaper, costing from £2500 plus fitting.
The makeover
Sometimes, a change in décor is all that’s needed. Fresh paint and one wall-papered feature wall can be yours for £100 to £150. That is if you don’t mind spending the weekends with a paint brush.
Let’s get moving!
Survey
A Home Buyer’s Report, which includes an all-important Energy Performance Certificate, is compulsory and costs around £365 plus VAT. You can commission a full structural survey for £600 or more.
Estate agency fees
Most estate agencies will charge between one and three per cent of the sale price to market and sell your property, taking away all the hassle. Some companies also let you negotiate a fixed fee.
Tax
Land and Buildings Transaction Tax (LBTT) in Scotland is charged on properties sold for £145,000 or more (replacing Stamp Duty). Between £145,000 and £250,000, you’ll pay 2%. On the portion between £250,000 and £325,000, it’s 5%. Between £325,000 and £750,000, 10% applies. For lottery winners, go over £750,000 and it climbs to 12%.
Solicitor’s fees
If you’re buying and selling you’ll be charged for conveyancing on both. Average conveyancing fees come in around £1300 all-in.
Removal costs
If you want to DIY it and enjoy a work-out, van hire starts at £30 a day. Professional removal firms charge between £300 and £800, depending on the number of rooms and the distance to your new home – and whether you serve biscuits with their tea.
Now you know your sums, it’s time to add up the pros and cons of improving or moving.
Of course, looking at the fabulous range of houses and flats on s1homes will help make sure you make the right decision for you.