Renovate Your House Or Move
Many homeowners are torn between renovating and relocating when they realize that their houses no longer meet their needs or have deteriorated. The decision to renovate your house or move can be difficult. But there are certain considerations you need to keep in mind before you make your choice.
Consider Your Needs
Think about your present and future needs. Is your current space adequate for your family? Are there specific features that you desire to include in your home? Do you intend to have more children in the next 5 or 10 years? This will determine the amount of space you require. If you have older children who are likely to move out in a few years, you can focus on renovations instead of getting a bigger house. You can renovate your home to ensure it meets all your specifications or move to a house that already has everything you require.
Assess Your Existing House
Once you have identified your needs, the next step is to assess the house and determine if it is in good condition. This is especially important if you live in an old house. Renovating an older house can be more expensive than moving. You need to assess hidden components such as the plaster and wiring. You can also consult an engineer or building inspector to determine the condition of your home. These professionals can give you accurate estimates of renovation tasks.
Think About The Neighborhood
You also need to consider the neighborhood you live in and the amenities it offers such as hospitals, schools, and grocery stores. If the neighborhood provides everything you need and is close to your place of work, renovating may be a better option. Does the new area offer better services? Will your children have to change schools when you move? Moving may not be worth it if you have to make drastic changes in your family life.
Cost and Time Constraints
Renovations can be quite costly especially if you are adding new rooms, taking down walls or roofs. You also need to consider the amount of time it will take to renovate and the disruptions you will have to endure. Consult a renovations expert and get estimates based on the work you want done. Compare the estimates with the amount of money you are likely to spend when you relocate.
Use these tips to help you decide whether it will be more cost effective to renovate your house or move.