Moving Vs Renovating: The Pros and Cons
When you first moved into your house, it might have felt like your dream home. However, just because it was exactly what you were after at the time, doesn’t mean there won’t be problems later down the line. Maybe you’ve had a couple of kids or adopted some pets. Perhaps you’ve started caring for an elderly relative, or have started working from home? Either way, a change in circumstances can mean a house you once loved is no longer suitable. When this happens, you have two main options: stay and renovate or move somewhere new. But which do you pick?
Renovation: The Pros
If you only need one or two extra rooms, a simple extension or even a conservatory can solve your issues. You could convert the loft, basement or even just re-jig the space you have by moving the internal walls. Either way, it could be a simple fix that saves you a lot of time, hassle, and money from moving house. If you’re close to family, good schools or just generally love your home and don’t want to move, renovating allows you to stay put while adapting your home to your current needs.
Renovation: The Cons
Renovation is no walk in the park. When this kind of work is being done while you’re still living in the property, it can be incredibly stressful as it feels like you’re living on a building site. When you’re doing major renovation work, you will often need planning permission too, and waiting around for that can be annoying when you just want to get cracking. Then, of course, there’s the cost too. If you don’t want to borrow against your home, you will need to come up with the money for renovations too which aren’t ever going to be cheap.
Moving House: The Pros
Moving house is incredibly exciting. It’s the perfect opportunity to start fresh, you have this new blank canvas and the promise of a new life ahead of you. There are few chances in life you get like this where you get to wipe the slate and start again. Moving house also allows you to work out exactly what you don’t like about your old place so you can find something better the next time around. Perhaps your commute is too far, or you want to be closer to better schools? Whatever it is, you could compare home loans and get started on the path to a new life.
Moving House: The Cons
There’s no doubt about it, moving is stressful. Physically moving your items, changing over bills and addresses with a hundred and one companies, cleaning and repairing your old property and finding the perfect new home. You have removals vans to book, solicitors to speak to and so much more. It’s mentally and physically exhausting, and definitely not something you want to be doing on a regular basis!
Will you be renovating or moving house this year? If so, what was the reason for your decision?
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