Benefits of Renovation Compared to Moving

Countless studies in the past have proven that the environment in which you live can have a very large impact on your quality of life, including your sociability, happiness, and stress. Therefore, all of us should realistically exhaust all our efforts to ensure that we can supply ourselves with the best possible home. Once you’ve made that commitment to improve, you will be finding that you have two paths to choose from – either renovate your existing home or move to a new place. This article will review the factors which are crucial to consider when making your choice in your future.

The first thing to consider is the price of each, as this is the limiting factor for many people. In general, renovating is a much, much cheaper option than moving to a new home when looking to make improvements. This is because moving entails a wide variety of costs that renovating does not. The main culprits are the massive real estate agent costs and the marketing costs. Additionally, when choosing the renovating option, you have the flexibility of budgeting out exactly what you are comfortable spending and making the most meaningful improvements with that budget.

The second thing to consider is what are the actual improvements that you desire from your home, and can be accomplished with renovation. For example, do you need more view/ presence of nature? Are you feeling the need for more open spaces? Or do you need an additional room to support a new family member, a new hobby, or work? In most cases, some ingenuity can be used to design a creative renovation solution. Contact a professional or even consult friends and family about your desires; you are bound to get some great ideas that can prove incredibly impactful to your life if implemented.

The final thing to consider can be a real deal-breaker, and it is the quality of the area where your home is located. Are there enough trees and parks? Are the services close by and of high quality? Is the neighbourhood safe and pleasant? This will vary based and areas and the truth is, you have limited control over these characteristics. If you find a new area that feels more like a home, then by all means – move. A new place could be an exciting journey and could be exactly what you need. And if there are a few things off-putting about a new home in a pleasant area – you could always apply your creativity and find ways to improve it. Consequently, a good overall strategy for moving to a new place is to renovate your old place to attract a higher sale price; and then use that increase cash to move into a better home and then customize that new place – so that overall, you end up in a perfect home while taking on minimal costs. If all this sounds overwhelming, feel completely free to use the skills of professionals or friends and family to help guide you through the process.

In conclusion, renovation is great as it can cost you a great deal less than moving, has the flexibility to give you exactly what you desire, and can keep you within comfortable and familiar surroundings. And if you feel as though a new place would give you more happiness, moving there and renovating a little can be the perfect solution.

References

https://www.realestate.com.au/advice/how-much-does-it-cost-to-sell-a-house/

https://www.bestmove.co.uk/blog/remodel-move-advantages-disadvantages-renovating-vs-moving/