Are you running out of space to live comfortably in your existing home, or do you not find it to be as charming as it once was? Well, you have two viable options: begin the extensive process of selling your current house and looking for a more spacious one, or dive into the time-consuming feat of renovations. There are benefits and drawbacks associated with both options, so to ease the overwhelming feeling of making this life-changing decision, thoroughly weigh the pros and cons of both options to land on the right solution for you.
Moving into a better-suited home can solve many issues:
Change in Needs
Families naturally evolve, and the small cottage house that was once ideal for a newly married couple could become a tight squeeze when children enter the picture. Not only does the increasing family member count itself demand more physical space, but each person’s personal belongings such as tools, toys or vehicles do, as well. If you are not attached to your home, then the tremendous costs associated with a remodeling project may not be the way to go. For instance, a kitchen overhaul alone could cost close to $50,000, so the price for adding additional rooms could be exponential.
Money Problems
If you purchased your current home during the economic slump for a relatively cheap price and the value of your home is well above what you paid for it, then it may make sense to sell and purchase a new home in a less expensive area. You could invest the extra cash in traveling, for example. On the other hand, if you are struggling financially, this could ease the burden of any debt you might be in or could help you to keep up with your bills – times are still tough, and life is expensive.
Wanting a Change of Scenery
Living in the same surroundings for an extensive period of time can become mundane. If you have outlived your home’s charm and desire to explore something new and exciting, then no amount of renovations or redesign will persuade you to fall in love with your current house all over again. Sometimes, location can be a more important factor than the house itself.
However, relocating to a new place can be daunting:
Finding a New House is a Chore
Coming across the perfect home in the right spot is a difficult task, to say the least. Selling and purchasing another home can be a long, stressful process. You likely have to check out numerous homes before finding the one that is meant for you. It is crucial to determine the most important items on your checklist of necessities. You could spend an eternity trying to find the flawless house of your dreams, when in reality it is all about compromise. It is important to consider your budget, location preferences and top amenities, and then stick with them.
It’s Not Just about a New Home
Moving is a major change, even if you’re only moving down the street. You are forced to make several adjustments, including a new commute to work or school, meeting new people, possibly receiving a new phone number, going through the process of setting up utilities and learning about your local homeowner guidelines through the Homeowners’ Association. In general, you will have to get accustomed to your new environment, which will naturally take some time, so don’t fret if you’re not feeling comfortable right away.
Renovating is oftentimes worth the process:
Opportunity for Customization
The greatest benefit of remodeling is the opportunity to make your house unique to your taste, as well as to see your vision come to life. It’s practically impossible to find a home that is already tailor-made to fit all of your requirements. No matter how cheap or luxurious the property is, you will inevitably feel the need to alter a thing or two; therefore, renovations may be the right solution – allowing you to continue living in a home you feel comfortable in, while tweaking it to your standards.
Sentimental Attachment
You may have lived in the same home for years and the thought of leaving it behind might break your heart. A house is not just a place to take shelter and store your belongings. It holds precious memories of your life. It’s a place in which you may have achieved significant milestones. Therefore, it might be best to just spruce it up, adding necessities and fixing anything that is broken or worn down. Making a house a home can take a while, so keep that in mind when considering giving it up.
On the other hand, remodeling is a major project to take on:
Time-consuming
Seeing the end result of a renovation may be an exciting moment, but the actual process of it can be a tedious nightmare. It is common for projects to continually get delayed, and before you know it you’re a year into an entire gut job. In addition, renting a space can really add up, and sleeping on your relatives’ or friends’ couches can be a burden, completely changing your normal routine and creating chaos.
Annoyances to Deal with
With a home remodeling project come loud noises and an intrusion on personal space. You will have no option but to endure early-morning disturbances, torn-up rooms, inevitable inconveniences, an unhealthy amount of dust and zero privacy. Contract workers constantly swarming your house may feel rather invasive, and it can be quite bothersome having crew members going in and out of your home while getting ready to leave for work in the mornings or attempting to make a decent meal in the evenings after a long day at the office.
High Costs
The prices for home renovations continue to increase with time and economic hardships. Because the prices for construction materials are slightly rising, ultimately, the cost of labor is going to rise with it. Finding a contractor who is willing to work for a reasonable price and produce a great result is hard to come by. The overall cost of any remodel is dependent on the type of renovation you are seeking. Be sure to figure out your main requirements and create a budget accordingly. There may be unexpected projects that must be done, especially in older homes, such as installing new plumbing. Therefore, it is important to leave some room in your budget for this reason and to prepare for any mishaps that may occur.
Making the decision to move or stay:
Deciding to move to another home or stay in your current one and renovate can be a tough call to make. There are advantages and disadvantages to each option. The long process of relocating is often discouraging and tiring, as it can be difficult to find a home that fits all of your needs and is within your budget. However, the expenses attached to renovating can be outrageous and the disruptions can be a complete hassle.
In my experience, if you are living in a home that suits your main needs and is in a location you are content with, the choice to renovate could be a smart move. I have found that the home addition team at BNW Builders, a construction company located in Central Virginia, says that adding additional rooms to your house is a great way to create more needed space that will make you love your home again, without the trouble of having to uproot your life to a new one. Even though your daily routine will be altered, it is only temporary, and if the disruption is causing too much concern, establish a set schedule for the construction crew to have access to your house and set some ground rules to allow for some personal time in this chaotic process.
Adjusting a home that you love to fit all of your requirements is worthwhile. The value of it will only increase with the improvements you have made. Remodeling is truly the best of both worlds – you can enjoy the upgrades to your house in the present and also be prepared to sell it in the future if the time comes.