As we settle into 2024, many homeowners are considering the possibility of adding an extension to their homes. Whether it's for additional living space, a new home office, or simply to increase the property's value, house extensions are becoming increasingly popular.
So, is 2024 a good year to build an extension? Let's take a closer look at the factors that might influence your decision for a house extension in Glasgow this year.
There are several reasons why 2024 could be an ideal time for building an extension in Glasgow:
1. Falling Interest Rates: Rates are now expected to fall to 4.65% by the year-end (as many financial experts predict), if this happens then financing your house extension through a loan could be more affordable than it has been in recent times.
2. Rising Property Prices: Property prices in Glasgow have been steadily rising over the past few years and this trend is expected to continue into 2024. By adding an extension to your home, you could significantly increase its value and make a healthy profit when you decide to sell.
3. Demand for Space: The COVID-19 pandemic has changed the way we live and work, with more people than ever before working from home. This has increased the demand for additional living space, making house extensions a popular choice for homeowners.
Planning Your House Extension in 2024
If you're considering building an extension in 2024, it's important to start planning as early as possible. This will give you plenty of time to research different designs, get quotes from builders, and apply for any necessary planning permissions.
When planning your extension, it's also important to consider how it will affect the overall layout and functionality of your home. For example, if you're adding a new bedroom or office space, think about where this will be located in relation to other rooms in the house. Also consider how much natural light the new space will receive and whether any additional heating or cooling systems will be required.
Conclusion
In conclusion, 2024 could indeed be a good year to build an extension on your home in Glasgow. With falling interest rates making borrowing more affordable again and rising property prices potentially increasing the value of your home, there are several financial incentives for undertaking such a project.
However, it's important not to rush into anything without doing thorough research first. The cost of house extensions in Glasgow can vary greatly depending on various factors so make sure you get several quotes before making a decision. Also remember that building an extension is a major project that requires careful planning and consideration.
By taking all these factors into account, you can make an informed decision about whether 2024 is the right time for you to build your dream house extension.
Speak to Glasgow Extensions & Conversions for free advice and a no obligation estimate