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As a residential builder serving North and East London, we’ve certainly noticed a downward trend in general property refurbishments. Homeowners are cautious, influenced by a mix of factors: uncertainty surrounding the new Labour government, continuing inflation, and the Bank of England’s sustained decision to keep the base rate frozen.

Council planning data shows a clear drop in the number of extensions—both infill and standard property developments. This leads to the central, million-pound question: Should you carry out your refurbishment project now, or wait until the economy may (or may not) calm down?

The Shifting Dynamics of “Don’t Move, Extend”

For years, “Don’t move, extend” was the confident phrase widely touted as the ultimate property industry wisdom. However, rising material costs and persistent shortages of skilled labour have complicated this approach, making the decision much harder than it once was.

The Undeniable Value of Customisation

However, extending or refurbishing remains the most straightforward path to achieving the modern, customised home many of us desire. It offers freedoms that moving often cannot:

  • Custom Comfort: Ridding your home of bulky radiators with underfloor heating.

  • Open Living: Opening up your space into a spacious, light-filled kitchen and dining area.

  • Lifestyle Benefits: Adding a second reception room or creating the seamless indoor-outdoor living flow celebrated on shows like Homes Under the Hammer.

While the path forward involves internal debate, the result—a custom-built home that perfectly suits your lifestyle—is a valuable investment in your current property.

Now that you’ve navigated the obstacle course of internal thought, if you are brave enough to take the next step, be sure to check out our post on “How to Choose Your Builder?” to help you plan your next steps.