Is An Extension The Answer To Property Price Boom?

Many homeowners will be considering adding space to their property in the current economic climate, as buying a bigger house has become out of reach with sky-rocketing property prices. Therefore, they might be stuck choosing between installing a conservatory or an orangery – here are some tips to help make your decision.

The latest House Price Index from Halifax has revealed property values are still incredibly steep, having only fallen by 0.1 per cent between July and August, despite predictions that a crash is on its way. The average house is now worth £293,221, having increased by more than £30,000 from the year before.

Therefore, those who wanted to move to a bigger home might find they cannot afford the next step on the property ladder, if prices stay as they are or continue rising.

Indeed, Halifax’s figures show annual price growth was the highest for home-movers at 12 per cent in July, with this increasing to 15 per cent for homebuyers looking for detached houses. This type of property has risen by an average of £60,000 over the last year alone.

Despite this, their requirement for extra space is not going anywhere, which means they need to consider other options, such as extending into the loft or into the garden.

Those who cannot, or do not want to, opt for a loft extension still have a loft of choice when expanding their living space downstairs. For instance, they can add a conservatory on to their living room or kitchen, which could provide the necessary extra social space they are looking for.

While many people used to think of conservatories as garden rooms, they have become far more usable over the last few years. Nowadays, thanks to being heated and insulated well, they not only offer a lovely place to sit in the summer, but also provide valuable family space throughout the whole year.

You might want to use it as a dining area, a playroom for little kids, or a snug for older children, for instance.

Building an orangery is also a great option if you are considering expanding your downstairs footprint. Lots of people prefer having an orangery, due to its solid brick structure and typically flat roof, whereas conservatories are made of glass and tend to have a pitched glazed roof.

Thanks to the different materials, orangeries tend to be better insulated, meaning they are able to stay cool during the summer and warm in the winter. What’s more, they suit a greater variety of properties than conservatories, fitting seamlessly with both quaint cottages and modern homes.

Another reason why people opt for orangeries over conservatories is the transition from the house to the extension can appear faultless, as though it has always belonged there. On the other hand, there might be more of a division between the conservatory and the rest of the living area.

Despite this, homeowners have to consider the cost of their extension and the potential value it will add to the home. Conservatories are typically cheaper due to having less brickwork, but might not raise the house price as much as an orangery would.

 

Take a look at our selection of Victorian style orangeries here.