Prefab annexes are becoming the preferred solution for creating more living space at home, because they provide affordable luxury.
The insurer Hiscox reports that the number of homeowners renovating instead of moving has increased five-fold in five years. More and more people are staying where they are but choosing instead to invest in the property they have already got.
In many cases, this involves building extensions to create more space.
Why Are Homeowners Searching for More Space?
According to the 2018 Hiscox report, the current state of the UK property market has been a major catalyst in boosting the number of renovations and extensions taking place.
Homeowners see property prices as being prohibitively high, with the added issue of stamp duty and an overall sluggish market making them unwilling to move home.
For these reasons, along with a general air of economic uncertainty about the future, they are choosing to renovate and expand where they live now, rather than try to find a different property somewhere else.
Consequently, many UK councils have seen planning permission requests soar.
The most popular requests are for loft conversions, followed by living room extensions. There has also been a rise in garden renovations.
Estate agents estimate that this sort of work can add substantial value to a property, over 10%. However, given current views of the property market, adding value is unlikely to yield returns in the near future.
Although more people are renovating and extending, taking a more traditional route to gaining living space can come with its problems, issues and expenses.
This is why the prefab annexe can offer an attractive, affordable alternative.
An Ageing Population
There is another pressure driving the need to extend: an ageing population.
With competition for retirement homes and residential care high, families are searching for alternatives.
Extending a family home for an extended family is one option, but there are limitations many people face in just how much space they can free up. Plus, there is pressure from below as younger family members stay living at home. This is down to the lack of affordable homes and a challenging property market.
Again, the prefab annexe can offer an attractive, realistic and cost effective solution to finding more permanent space.
Whereas renovations and extensions are increasingly popular, they can also be problematic.
One of the biggest challenges is if people are having to live in a property while renovations are taking place there. Then there is finding the right people to carry out the work, including tradesmen and other experts.
Finally, there is the whole issue of scheduling and project management. The challenge is to stick to budget and to schedule. The Hiscox report shows that projects on average overspend by 20% and suffer delays of up to three months before completion.
Renovating and extending houses is rarely straightforward, and often quite difficult and stressful. It requires diligent planning and careful consideration of all the aspects involved.
After all, your home is likely to be the most valuable asset you will ever own.
The Prefab Annexe Answer
The prefab annexe, otherwise known as the granny flat or garden pod, is deceptively sophisticated.
Though modular in design and construction, the modern prefab annexe provides convenient, luxury living and a streamlined solution to the whole issue of creating more living space at home.
The standard specification comes with a 10 year guarantee, with excellent finishing internally and externally. Custom design and build means you can have an annexe that feels like a penthouse or even a country cottage.
With a focus on extremely durable, high quality materials, and flexibility in construction and installation, the prefab annexe has come into its own as a realistic, desirable alternative to conventional extensions.
The Affordability of Annexes
Our most economical annexe is only £58,500. This price includes a full turnkey service, from groundworks to annexe building and decorating. One bedroom core annexes start at £64,000, and two bedroom models are available from £91,300.
What we like to emphasise is the relative simplicity and swiftness of the whole process. We can take care of any planning red tape on your behalf too, with our unique dual application approach.
This involves us putting your planning application in as a Householder Application but also under the Caravan Act. This safety net approach helps speed up the whole process.
We also offer convenient finance options, to make getting your annexe that much easier.
Get In Touch
If you are looking for more space, it might be time to consider the option of a prefab annexe. We think you will be pleasantly surprised at the affordability and ease this offers you.
Why not book your free consultation today? Please get in touch, and one of our experienced team will be able to answer any questions you have.