There sometimes comes the point where the house you are living in becomes too much to live with day to day. It might be that you have a lot of repairs that need to be done to the house, or perhaps you are running out of space. Whatever the reason, you have a decision to make, should you renovate your house, or should you consider relocating to another property? To help you decide, here are a few tips on the pros and cons of relocating and renovating.
Think About Your Current and Future Needs
It can be difficult to think a long way ahead, but you need to consider what you might need from your home in the future. Will you be thinking about having more children? Are your children growing up and leaving home? Will your home still be useful to you as you get older? Some houses can be adapted for disabled people easier than others, so you need to look into this. All of these questions will need to be answered before you think about moving or staying where you are. You should also think about whether there is anything you need near you that you can’t leave. It might be a local school or perhaps relatives that need caring for.
Think About the Condition of Your Current House
The next consideration is the condition of your current house. You will need to think about all of the work that needs to be done to make it safe and sound again. There will be the obvious things like the windows, the outside and inside walls and the roof, but there may be other things as well. It might be that you need to enlist the help of a surveyor to look over your property and see if there are any hidden problems. The report that they write can be the thing that makes up your mind for you, especially if they come up with a lot of issues.
The Cost of Renovations
If you want to stay where you are and are thinking about renovating your home, then you first need to find out how much it will cost. For some major renovation, you can be thinking about hundreds of thousands, so it is a good idea to get a few quotes first. You also need to think about how much the house would be worth. If you are going to spend a lot of money on a house that won’t give you that return on your investment, then it might not be a good idea. While this isn’t such an issue if you then plan to live in the house for the long term, it can be a potential problem if you see yourselves moving in a few years.
Look at Your Neighborhood
Another potential issue that you need to think about is the local neighborhood. Take a look around and see if there is a need for a house like yours on the market. For example, if your home is a long way from schools, then do you think a family will want to buy your home in that location? Also, if your home isn’t near any freeways or major intersections, then would someone who works outside of town think it was a good location? Think about the reasons you bought the house originally; the chances are that other people will be thinking the same things as you did.
Take a Look at Other Locations
Before you make any decisions, you should at least take a look around at other houses. If you don’t need to stay where you are, then broaden your search to include areas you like. It can also be a good plan to look at other areas such as commercial Orange County to see what properties are around and whether they could be used for your business if you need to relocate it. Even if you have been thinking about renovation, you might find the perfect house for you that won’t require any work.
Do You Have Space?
Having the space to move around without it being cluttered or cramped is the way most people like to live. If you are starting to find that this is happening, then building an extension to your home could be part of any renovation. However, you also need the space outside to accommodate an extension. Consider what type of extension you need and whether it will satisfy your space needs. For example, if you have had another child, then you might need to have an additional bedroom built. However, if there isn’t enough space to build an extension that big, then it won’t solve your needs.
Time and Opportunity
More people are now taking the decision to renovate rather than relocate. In previous years, this wasn’t as common, as people found moving easier and cheaper than spending a lot of money on their existing house. However, with the housing market fluctuating and prices not as stable as they used to be, that idea has become less popular. It will also be part of your decision as sometimes the cost and time of moving to a new house can be worse than putting up with builders at your home. Think about the cost of moving to a new house, where would you go? If you want to move to another state, then this can put the cost up considerably. It might be ok if you can afford to have professionals pack and move things for you, but if you have to do it yourself, then you might not have the time.
No one knows exactly what will happen in the future, but if you are thinking about more children or planning to retire, then this will have an effect on your needs. You will need to evaluate your current home and decide if it will be useful to you as the years go on. However, make sure you make this decision before you need to move.