With rising labour and materials costs, is it now more cost-effective to move rather than renovate?
Scottish property expert Paul Hilton from the listings portal ESPC thinks so.
He recently said that due to inflation and Brexit, “it no longer seems to be such sage advice” to suggest improving is cheaper than moving.
Here’s why.
Rising Costs
The cost of hiring an electrician rose by 9.1% between the second and third quarter of 2024. Calling in a locksmith increased by 7% and a roofer by 4.9%.*
Overall building expenses rose by 19% in the last quarter.** Fitting a kitchen went up by 12% and plastering increased by 16%.
Making the Right Choice
Ultimately, it all comes down to doing your research and calculations.
There’s a lot to weigh up, but we’re here to help. Call us today.
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*Trade Costs Index issued by listings service HaMuch.
**Checkatrade Home Improvement Index.
