Once you’ve lived somewhere for a long time you can start to feel restless and consider moving. But is it worth the cost and hassle? Or should you just remodel the one you have? Here are some top reasons to choose between a remodel or relocation for your house…
Owning a house is like having a career – you’re happy where you are, but something is always pushing you to reach that little bit higher. There’s nothing wrong with that, especially when the result is a new home that you love. It’s a win-win, right?
It can be, but it isn’t always the case. The debate over whether to remodel or relocate will rage on for years to come, and there’s no one-size-fits-all decision. It’s down to your circumstances and what suits you best. However, if you are hankering for a fresh property, it’s essential to remember that the grass isn’t always greener. Here are the reasons why.
You Can’t Budget Realistically
To relocate means to commit to a budget that lasts for years. To remodel means doing it for months. After all, you only need to pay for the building work, some of which isn’t particularly expensive (depending on the job). With a move, you can’t get out of paying the high cost of gas and electric and council tax. Plus, that’s without factoring in the mortgage, which is bound to be higher considering your property is an upgrade from the last one. You have to be willing to give up a lot to afford a new start. Are you?
More Rooms Don’t Mean More Room
The property you’ve seen that you love has tonnes of extra space. Why? It has more rooms and additional features that your current home doesn’t. In most peoples’ heads, this means it’s bigger and, therefore, has more space. However, this might not be the case if your present house isn’t structured correctly. An engineer or architect could revolutionise your property by taking a look at the blueprints and removing a non-load-bearing wall. Suddenly, the format is open plan and spacious, and you did it without the hassle of moving.
Home Birds Earn More
People who stay in their properties longer tend to turn a bigger profit. Firstly, there’s the fact that a remodel boosts value without breaking the bank. A kitchen respray could add a couple of grand to your home’s listing price, and make it a nicer place to live, and it’s a very affordable process. Secondly, when you move, you need to stay in the property for at least seven years before you can recoup the costs moving and taking out a new mortgage. If you’re the type of person to up sticks and leave after eighteen months, it’s going to cost you in the long-term.
Your Home Is In Your Heart
Not to be sentimental, but you love your house and you don’t want to leave. Well, you don’t have to if you decide to remodel the aspects you dislike and improve them. Too many owners assume that they must move because it’s what adults do, yet that’s rubbish! Staying in a property you adore and transforming it into the house of your dreams is more grown-up than running away to pastures new.
What do you think? Are you a remodel or relocation type of person?
