As our population continues to grow and we live significantly longer, it is no surprise that we have begun a large scale project to be more space conscious. Cities are more tightly packed, living spaces are becoming more and more cramped, and the sizes of new build homes are shrinking along with everything else.
Even as we react to our growing need to make the most of the space we have, however, our consumerist tendencies have not slowed down. The minimalist trends that are so popular on TV shows and interior design programmes have not changed our desire to fill our homes with old momentos, collectors items, technology, clothes and more. We’re running out of space, and the shrinking size of homes is not helping.
Read on to discover just how much space we have in our homes, and learn how utilising self storage units can save you money and hassle as we continue to adapt to our new world.
Are homes getting smaller?
Unsurprisingly, the answer to this question is a resounding yes. Over the last five years, the average UK house size has shrunk, hitting a new low of 90.18 square metres this year. The reason this number has been dropping so much is not due to houses being built with less bedrooms or bathrooms either, but because the smaller sizes of new builds have been bringing the average home size down.
New home builds, which are classified as any house built since 2010, are just under three quarters of the size of the average UK home. These small, 67.82 square metre homes are being built all over the country in an attempt to create enough space to house the growing demand of families, downsizers and new buyers.
Why buy a new-build home?
Despite the considerable size difference between houses built before 2010 and new builds, older houses remain cheaper to buy on the property market. In the table below, you can see just how much more a new build costs in comparison to the average older home in varying regions across the UK.
|Region||Average Price of Existing Resold Property||Average Price of New Build Property||Price Difference|
|Yorkshire & Humber||159,275||206,991||47,716|
|East of England||284,169||363,961||79,792|
The shrinking size and rising cost of new-build homes may surprise many people and dredge up the question ‘if you aren’t saving money by purchasing a smaller home, then why bother investing in a new build at all?’
Well, at the risk of using a common innuendo, size isn’t everything. Buying a new-build home may leave you with less space, but it has its own considerable advantages that older homes simply don’t have. Firstly, resold houses are more likely to need some kind of work done on them, and with replacing old boilers, fixing old wiring and combatting structural issues all coming with considerable price tags and inconveniences, opting for a new build can save you money and hassle in the long run.
On top of this, there are plenty of architectural and engineering improvements that are included in the building of new houses that are only available as highly expensive upgrades in older buildings. For example, new builds are safer, better insulated, and eco-conscious, meaning that, not only are monthly bills cheaper, but structural repairs are less likely to be needed.
Overall, while the price may be daunting at first glance, paying more to have a new-build house could be the right call for many buyers.
What about storage space?
It is understandable that, even with all the benefits that come with having a new build house, size remains a concern for many. Fortunately, there are many ways to become more space efficient, with two of the most popular options being building an extension and utilising a self storage unit.
It won’t surprise you to know that we at Storage World feel that hiring a self storage unit is the superior choice, but don’t just take our word for it. In order to help you decide for yourself, we’ve worked out exactly how much it would cost to do both, and the results speak for themselves.
Depending on factors such as your choice of contractor, materials and where you live, the average cost of an extension per square metre is £1,200 to £1,500 outside of London and £1,500 to £2,000 in London and the South East. Taking into account that the average size of a double bedroom is 4 metres squared, and ignoring for the moment the cost of decorating this room, an extension should cost between £6,000 to £8,000. In comparison to this, a 50 square foot (4.6 square meters) self storage unit from Storage World starts at only £25 per week. Taking the lower estimate for the cost of an extension, this means that you could use one of our storage units for 240 weeks before reaching the cost of an extension of a similar size. That’s over four and a half years!
Become more space efficient with Storage World
If you are moving house and find yourself considering a new-build, don’t worry about the lack of space. Storage World is here to offer cheap and convenient self storage units that will save you money while letting you enjoy all the benefits of owning a new-build home.
Want to take a closer look at the units we have available? Visit our Enquiry Page and fill in our easy contact form or give us a call and our friendly staff will help you with anything you need.