For years, the popular opinion has been that it’s cheaper to renovate than sell up and buy a new home. However, shifting economic factors are challenging this assumption. Let’s explore the situation in Cheshunt and the factors you should consider.
Times Are Changing in Cheshunt
Experts in the property market, including local agents like Woodhouse Property Consultants, are seeing a shift. Rising costs of materials and labour, combined with changes in the housing market, mean that moving could be more practical than renovating in some cases.
Materials such as bricks, pipes, and fittings have seen price hikes of up to 17.6% in just 12 months, while tradespeople’s rates have risen significantly. For example:
- Electricians: Up 9.1% (Q2-Q3 2024)
- Roofers: Up 4.9%
- Plasterers: Up 16%
(Source: Checkatrade Home Improvement Index, 2024)
If you’re planning an extension or loft conversion in Cheshunt, these increased costs could add tens of thousands to your renovation budget. At the same time, house prices in Cheshunt have shown steady growth, which could make moving a better long-term investment
The Benefits of Moving with Woodhouse Property Consultants
When considering your options, it’s crucial to talk to local property experts who know Cheshunt inside and out. Woodhouse Property Consultants have over 25 years of experience helping homeowners find the right move. We can guide you through:
- Accurate Valuations: Determine how much value renovations might add versus what your property could fetch in today’s market.
- Local Listings: Access a range of homes that meet your new needs.
- Smooth Transactions: Enjoy professional and personalised support every step of the way.
Making the Right Choice
The improve-or-move debate ultimately comes down to your personal circumstances. Renovations may offer control over your living space, but they also come with the disruption of living in a construction zone. Moving, on the other hand, offers a fresh start with potentially fewer unexpected costs.
Not sure which path is right for you? Speak to our friendly team at Woodhouse Property Consultants. We’re here to provide tailored advice and help you make an informed decision.
Call us today on 01992 637777 or visit our office at 7 Clayton Parade, Turners Hill, Cheshunt, Herts EN8 8NQ.
