DECIDING whether to fix-up or move-on is a difficult decision to make for many home owners. Do you move home to a new house or do you renovate your existing property?

The National Federation of Builders says many home owners should think twice before heading to the estate agents. With all the hidden costs and headaches of upping sticks, it can often be an advantage in the long-term to stay put and renovate.

“Many home owners are paying out thousands of pounds in solicitors and surveyors fees to sell their existing home,” said Paul Kendrick of the National Federation of Builders, which represents more than 4,000 professional building and contracting companies throughout England and Wales.

“The money ploughed into these ‘hidden costs’ could be used to renovate their existing home, adding extra space which could improve living conditions and add value to their property. Home owners should always be aware that a move-up often has the potential to be a big financial step down.”

Mr Kendrick, who recently sold his own property in North East London and paid more than £11,000 in fees, added: “When you add up all the extra costs associated with moving, including stamp duty, solicitor’s fees, estate agents fees, removal fees, utility connections and so on, it amounts to a sizeable extra bill at the end of your move. And that is not to mention the stresses and strains of trying to keep things running smoothly.”

Two useful publications, called Avoid Cowboy Builders and Finding the Builder Who’s Right for You, are available free from the National Federation of Builders, Construction House, 56-64 Leonard Street, London, EC2A 4JX. Tel 0207 608 5150.