Should You Move or Renovate? Three Things to Consider

Determining if you should buy a new home or fix up your current one isn’t

easy. In fact, the decision can be steeped in so much drama they make

reality TV shows about it!

So if you’re considering whether to move or improve, here are three things

to consider.

1. Will a renovation truly fix what you don’t like about your property?

If you’re tired of a small kitchen, for example, it might not be possible, given

the layout, to make it any bigger. On the other hand, if you’re craving a

spacious rec room with a cosy fireplace then a renovation could make that

happen.

Of course, there are some things you may want that aren’t specific to your

house, such as an easier commute or nearby park. Those are features you

may only be able to get by moving.

2. How much will a renovation cost? How does that compare to the

cost of moving to a new home?

It’s important to get accurate estimates of each so you can make a smart

decision. This is where a good REALTOR® can help.

Keep in mind that renovations have a habit of costing more than you

originally anticipate. As mentioned earlier, the final result should be a home

you want to stay in for quite some time.

3. Beware of compromising versus settling.

Whichever decision you make — renovate or sell — you can expect to have

to make at least some compromises. That’s normal.

For example, consider adding an extension to your house. That’s a major

renovation. Is it the ideal way to get the extra room you want? Do the

benefits of renovating outweigh the benefits of finding a new larger home

designed to include the space you need?

 

Yes, it’s a tough decision. If you’re in the midst of making it, call today, to

get the facts you need to make the best choice for you.

 

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Rhonda Potter

Rhonda Potter

Sales Representative
CENTURY 21 B.J. Roth Realty Ltd., Brokerage*
Contact Me

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