For many homeowners one question they’re sometimes faced with is, “Is it better to move house or renovate instead?”
There comes a point when your home starts to feel cramped, or things start to feel worn and you begin to wonder whether it’s time for the next chapter. However moving house can be very stressful, not to mention expensive, and it’s not easy to find the exact home that you want.
That’s why a lot of homeowners choose to renovate instead, so they can fully make their home their own without the stress of moving.
Here’s some insight into whether it is better to move house or renovate instead, and things to keep in mind.
What do you want to change?
You first have to think about what you lack, and what you want to change. If you desperately need another bedroom and you’re unable to extend your home due to space restrictions, it would make sense to move house. Equally, if you’re craving a bigger garden or need a garage and you don’t have that space available, moving home may be a better option.
However if you’re happy with your space but you simply want to redesign the house and make it your own, a renovation project is a great solution. There are so many wonderful ways you can transform your existing space and it’ll be like a brand new house but without the hassle of selling. If you have the space, you can easily reconfigure your home so your floor space is being used more wisely.
Speak with your contractor to see whether you can extend and what you can change within your budget, and you’ll be able to create your dream home without having to move.
What’s your budget?
The second consideration is your budget. If you don’t have a huge budget to play with, renovating is a very good option. You can change what you like according to how much want to spend, and work with your contractor to assess how you can create the biggest amount of change but stick within your budget.
If you have a sizeable budget, you have to consider a couple of things; whether the money you’re investing in a renovation would add significant value to your property, or whether it would make more sense to move and invest in a different home. The last thing you want is to “over-improve”, and not get that investment back if you eventually sell. However, you also need to remember that moving house can be very costly, so be realistic about all costs involved.
You also have to think about whether you want to move house. We can get very emotionally attached to our homes and when you’ve lived there a long time, renovating is often the best choice. That way, you get to keep your property but also create your dream design.
If you’re wondering whether it’s better to move house or renovate instead, get in touch with us today to talk more about your situation and your ideas in mind.
We also have a free informative ebook, The Renovation Guide, that you can download here, or by clicking on the image below.