Should I Stay or Should I Go? Renovating vs. Moving

There comes a time when your once cosy home will feel like you have outgrown it. Maybe you have a family now, so a sizeable home may be too cramped, maybe you want to redecorate, or maybe you just want a complete overhaul. Moving house may be one of the best options. You can find a location that really fits your lifestyle and gives you convenient access to key places like the grocery store and the mall. With the housing market seeing a boom and the cheapest home loans on offer, it is easy to make a move.

However, moving can be so stressful. Think about all the packing you need to do, segregating items to things you want to keep and ones you can let go. How about the fact that you actually quite like your neighborhood and prefer the company of the people around you already. In this case, you might to consider an alternative. Renovating your home can also give you that new home feel without having to move house.

If you are also on the process of deciding what you will do with your home, these are some of things you need consider.

Moving House

Choosing a different location

One of the obvious advantages is being able to choose a different location to live in. This means you can choose whether you want spacious lots or maybe smaller, a neighborhood with unique amenities, and consider all the preferences you were not able to get when you bought your first house. You can also start considering your future. If you are going to have a family, moving to a new locations means you can choose an area zoned to highly lauded school districts.

Avoiding a construction zone

Renovating an area in your house means that there will be constructions work and workers for most of the day in your home. It is going to be dirty, noisy, and very invasive. If you decide to move house, you can avoid all of that stress.

Purchasing a house ready for occupancy

You can choose to buy a turnkey home. These are houses which are already remodeled and upgraded with furniture and other unique amenities. All you have to do is purchase it and move in. No more pre-moving preparations, you can already pack up and move right in.

Renovating

Less costly

Remodelling is going to be a more affordable option for you if expenses will be an issue. While the housing market is showing a strong appreciation trend, the amount of houses available for purchase in really good neighborhoods  are actually pretty scarce. This means that the price for a single-family home or a townhouse is going to be pretty steep. A well-planned renovation is going to be cheaper because you may choose to upgrade rooms one at a time, and stick to the budget you have set.

Customised homes

The biggest downside of buying a home is not getting the specifications you want for your house. For instance, that yard space may be perfect for parties and other events, but the house itself feels too cramped. When you buy a house and decide to renovate to get the space you need, that is going to put a sizeable dent to your bank accounts. On the other hand, remodeling will allow you to equip your old house with everything that you want at a controlled budget.

Familiar neighbourhood

The biggest concern people have when moving house is adjusting to the new environment. They already know who the people are and know their way around the community. The house really is the only concern. In that case, do not move to another location. You do not have to deal with the stress of packing and moving, and you and your kids do not have to adjust to a new community (which usually takes a long time).

At the end of the day, your decision must include what makes you comfortable. Weigh these pros and cons to renovation and moving house and make an informed decision on what is best for the family.

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