Real Estate Decision: Build, Buy or Renovate?
Standing in front of a property and wondering if you should buy it as‑is, start from scratch, or add an extension? You’re not alone. The right choice depends on money, time, and the condition of the house. Below is a no‑fluff walk‑through to help you decide.
Know your budget and hidden costs
First thing – write down what you can actually spend, not just the headline price. Building a brand‑new house in 2025 often looks cheap when you only count the shell, but you’ll also need foundation work, plumbing, electrical, and finishing touches. A recent guide shows a typical new‑build can cost £1,500‑£2,500 per square metre, plus extra for premium fixtures.
If you’re buying an existing home, look beyond the sale price. Foundation cracks, for example, aren’t just cosmetic. Cracks wider than 5 mm usually need a structural engineer and can add £2,000‑£5,000 to your outlay. Insurance policies often exclude foundation damage, so double‑check what’s covered before you sign.
Check the property’s condition before you decide
Walk through and note any red flags: uneven floors, doors that stick, or visible cracks in walls. Knowing the size of a foundation crack matters – a hair‑line crack (< 2 mm) is usually harmless, while a 10 mm gap could signal serious settlement. Fixing it early prevents future headaches.
Don’t forget planning permission. In the UK, you can extend a house without a full application if you stay within permitted‑development limits – typically 8 m height for a rear extension on a detached home. Going over these limits means a full planning process, extra fees, and possible delays.
Loft conversions are another cheap way to add space, but not every loft works. Low headroom, existing truss designs, or missing stair access can make a conversion too costly. Use a quick checklist: headroom ≥ 2.2 m, clear roof space, and a safe route for stairs.
When you decide to build, pick a reputable contractor. Reviews from 2024 show that trusted builders often have solid insurance, clear warranties, and transparent pricing. Avoid low‑ball bids that skip essential steps like proper ground preparation – you’ll pay more later.
If renovation is the route, start with the most urgent repairs. Foundation repair should be first; otherwise, any new work may crack again. Choose the right cement – hydraulic cement works best for wet areas, while a polymer‑modified mix gives extra flexibility for shifting soil.
Time is another hidden cost. New builds can take 12‑18 months to settle before you see final cracks. Extensions usually settle faster, but you’ll still need a few weeks to monitor for movement. Factor this into your move‑in plan.
Finally, weigh the lifestyle impact. Buying a ready‑to‑move‑in house saves months of disruption, but you might end up with compromises on layout. Building lets you customise everything, but you’ll live through dust, noise, and contractor visits. Extending or converting lets you stay in the same neighbourhood while gaining space.
Bottom line: write down your budget, inspect the structure, understand planning rules, and match the timeline to your life. Use this checklist and you’ll walk away with a decision that feels right, not just affordable.
