Chances are you’ve seen the shows where homeowners get the opportunity to have their homes remodelled to suit their needs, and then have to decide whether they want to embrace the new and improved home or sell it for a new one.
If, however, you’re set on renovating, check out Guide To What You Should Consider Before Renovating Your House.
It’s certainly a tough decision, but there are 5 factors you should consider when weighing up the pros and cons of each option.
Renovating your home is always likely to be cheaper than buying a new one, but it does depend on what your needs are. If the house is too small and you require extra space, depending on your house’s placement amongst other things – adding extensions could end up being a lot more expensive than you’d think. Not to mention the cost of redecorating the new space. Ultimately, you should sit down and make a list of what you’d like to do, how much you’re willing to spend and work from there. Get quotes for any work you’re considering and weigh up the cost – you might find that in the long run, a move might cost less (in both money and time).
Do you need some extra space or a fresh new look? It might be worthwhile contacting some local architects to get their professional opinion on how you can do that, and for the best price too. The upheaval of moving may not be the best decision if you only need a bit of extra space or some cosmetic work done to the property. In this case, an extension or a bit of remodelling is likely the best option!
Probably the most important factor (after the house itself of course!) of whether to move or not, the amenities available and the property’s proximity to schools (for families) will likely influence your decision – and it should. Moving into a bigger house in the country, you may find a great bargain, but the trade-off could be limited access to public transport and local stores, so you have to consider what you’re willing to travel for, and what you need close to home.
The best part of renovating is that you can make changes to your exact specification and pour your heart into your home. Buying a new house may be easier – you can get a modern and sleek house without the need to find somewhere to stay whilst work is being done – but good things come to those with patience, after all. The initial inconvenience of remodelling will be worth the hassle once you step into your personalised and perfected home.
Whilst it’s great to dream big, sometimes you have to sit down and consider what the most practical thing to do is. Whilst you may love your home, sometimes renovation isn’t possible due to land constraints or lack of building permission. In these cases, there isn’t much you can do. If you’re only looking to update one or two rooms, you might be able to navigate this problem and get your desired outcome, but if you’re going to essentially rebuild the house – you might be better moving instead.
If in doubt – try a pros and cons list to figure it out!
Images courtesy of unsplash.com