Buying New Home VS Renovating?

There are many things to consider when making the decision to move or renovate your current home and having that perfect living space. The following summarizes some key considerations:

Cost:

It can be expensive to move to a new home, especially if you have to pay for realtor fees, attorney fees, and other associated costs. It is usually a lot less expensive to renovate your home, but it depends on the scope of work required.

For many people, renovation is the choice when faced with a new house because it can be less expensive than purchasing. You should take into consideration how much you want to spend on your home before making this decision so that way there won't come an unexpected expense down the line if things change later!

A good rule-of thumb would have been looking at what materials are used in renovations versus moving or remodeling; typically, these days we associate premium finishes such as hardwood flooring throughout our homes while budget friendly options like carpet remain popular among some circles due largely because they offer comfort without breaking the bank.

Location:

The location of your home is a key factor to consider. If you love the neighborhood, you're in, it may be worth renovating instead of moving. On the other hand, if you're looking for a complete change of scenery, moving house may be the better option.

Size:

If you need more space, moving could be an option. However, if you're happy with your current home, renovating would be a better option and it can give you the extra space you need without having to move by converting the garage or the attic space.

Convenience:

It can be quite disruptive to move your house as you need to pack up all your belongings and then unpack them again at your new home. Renovating can also be disruptive as you may need to move out of your home for a short while during major renovations and some parts of the construction period.

Time:

Moving usually takes many months from start to finish. Renovating your home can also take several weeks or longer, depending on the extent of the work you require.

Change:

Moving your home gives you the opportunity to start fresh in a new house. Renovating can also change the look and feel of your home, and you can dramatically improve on what you have and make it that perfect space. Rather than packing everything up and moving.

Disruption:

As mentioned above, both moving and renovating your home can be disruptive. However, renovating your home may cause less disruption as you can often do the work in stages.

So, there are some things to consider when deciding whether to move to a new home or renovate. Ultimately, it comes down to personal preference and what will work best for you and your family. If you're still undecided, why not speak to a professional for advice? They can help you weigh up the pros and cons and make the best decision for your situation.