Renovate or Move?
Should you renovate or move? This can be a tough question. There are all sorts of questions and issues to consider. For things to work out financially, and for you and your family to be happy, you have to make sure you have considered all of the options and have answered all of the questions that are important to your situation. Ideally, you have a good realtor, designer, and contractor that you can talk with about all of the issues. In some cases you might have to pay a consultation fee. Ask if they are going to charge you before you start asking too many questions. Some professionals won’t mind a question or two, but if things begin to get in-depth many will draw the line. Don’t underestimate the need for professional consultation, especially, if you have a large renovation that you are planning. There can be all sorts of questions and issues to consider that many people are not aware of. That’s a topic for another article, however. To be really thorough I would have to write a book on this subject. For now, I will introduce some of the main questions that you need to ask yourself, and your family, when deciding if you should renovate or move. What are some of the things you should be considering when making that decision? Please, read on.
Some Important Questions
These are not necessarily the only questions that you will have to answer for yourself, but these are some of the main ones. Some of the questions you need to answer when thinking about renovating vs moving are:
1. Do you like your neighborhood? Is it well kept and attractive? Does it look rundown?
2. Do you like your neighbors? Do you get along with them? Are they friendly?
3. Do you like your drive to school/work? Do you have access to local highways and other roads that get you to school or the office? Is the drive time short enough so that it doesn’t stress you out?
4. Can you afford a new home? You should probably consult a professional on this one. Start with your bank and go from there.
5. If you want to buy do you make a lateral move or can you afford something more upscale?
6. How much do you have to invest in your existing home to make it the way that you want it to be? Depending on housing prices it might be more economical to move.
7. How much will your property value increase after the renovation? Will your home be over-priced for your neighborhood if you try to sell it later?
8. Can you afford to hire a designer or will you do the design work yourself? You will need to do at least some design work to know if you can afford the renovation and to help answer some of the above questions.
9. Can you afford to hire a contractor or will you do the work yourself? Do not underestimate the need for a good contractor. Some home improvement work looks easy, but it isn’t. Do your research before making your final decision. Talk to people you know who have done their own renovation work. You might just save yourself a lot of headaches.
Final Thoughts
Again, these are just some of the main questions you need to think about. The above list is not all inclusive. Do not underestimate the need to hire professionals, at the very least, for some consultation. The better your planning is the smoother the project will go. Remember one thing, whenever you renovate an existing building you will always run into issues that you could not have planned for. There will always be some surprises no matter how well you plan. Don’t let that stop you from planning, though. Planning is important and should always be as thorough as possible. If there is something you really don’t feel comfortable doing on your own don’t be embarrassed, hire a professional. Good luck with your project!
If you decide to renovate you will want to check out my recent article: A Review of Real-Life Kitchens & Baths Magazine .