Renovate or move? That’s a question many homeowners ask themselves on a regular basis when their home doesn’t seem to be able to accommodate their lives or give them what they need. While in some cases moving home is absolutely the right idea, renovating can be a good alternative for those who don’t want it to stick and get settled into a new place or leave an area they love simply because they need more space or need a home that meets their requirements.
If you’re on the fence about moving or renovating, these benefits of renovation work might help you to see what is possible if you decide to stay put.
Can Add Value
Let’s start with the most obvious reason: adding to your home via renovating allows you to add value to your property and turn it into a purpose-built space you can enjoy at the same time. The exact value can be dependent on a number of factors; a second storey extension will add a lot more value to our home than a bathroom renovation, the upper property value of your area, the condition of the rest of the house and the quality of the work and upgrades carried out will also impact the value you can add to your property. But by choosing wisely, you can increase the current value of your home.
Cheaper Than Moving Home
The costs associated with moving home can quickly add up. From having to take on a bigger mortgage if you’re moving to a more expensive area or a more significant property to paying estate agent fees, taxes, surveys and other associated costs, there is a lot to pay out when you move home, and it can be a costly endeavour before you even move in. That does not include any repairs or renovations. The new house might need to be made so it’s habitable or to your liking.
Create A Custom Home
Moving to a turnkey property can be expensive, and there is no guarantee that you won’t need to do any work for it. Renovating where you currently live allows you to put your own stamp on the property and create a home that is exactly what you want and needs and isn’t based on someone else’s idea of perfection. You get a direct say in the materials used, how they are implemented, and the specs of the work you have carried out. This means you get to design a home, either fully or in certain spaces, that is exactly what you imagined and isn’t like anything else anyone has.
You Don’t Need To Leave The Area
If you’re not moving because you dislike the area, you don’t need to worry about finding your feet somewhere new. If your location is ideal for you, renovating or moving allows you to remain where you are and make your home exactly what you need without packing up and starting over.
Home renovations aren’t for everyone, and there are many pros and cons associated with moving home and renovating your property. Only you can decide what is best for you.
However, if you are unsure if you should renovate, these benefits can be very enticing and help you figure out the best option for you.