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Should You Move or Renovate?

 Should You Move or Renovate?

Posted: Saturday February 2, 2019

Determining whether 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 wondering 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, given the layout of your house, it might not be possible to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cozy 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 both the cost to renovate, and the cost of a new home, so you can make an informed decision.

Renovations often have a habit of costing more than you originally anticipate. Remember, 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 - to renovate or to sell - you can expect to have to make at least some compromises. That’s normal.

For example, consider the impact of adding an extension to your house. It would be 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 that already includes the space you need?

It can be 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.

 

Tim Otitoju

306 591 6524

 

“Before anything else, getting ready is the secret to success.”
Henry Ford


Regina Real Estate Blog

Interested in Buying a new home or Selling your existing property? Not sure where to start? Below you'll find articles tailored to give you a hand with many different tasks involved in the process.

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A GUIDE TO SURVIVING THAT KITCHEN RENOVATION
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4 THINGS YOU SHOULD KNOW ABOUT CREDIT REPORTS
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5 COMMON MISTAKES FIRST TIME INVESTORS MAKE
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5 EASY WAYS TO FALL IN LOVE WITH YOUR HOME ALL OVER AGAIN
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4 TIPS FOR SELECTING THE RIGHT PAINT COLOR FOR ANY ROOM
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5 HOME IMPROVEMENTS WITH THE BIGGEST RETURN ON INVESTMENT
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3 MISTAKES TO AVOID WHEN HIRING A HOUSE PAINTER
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3 TIPS FOR MAKING YOUR HOME APPEAR PET-FREE WHEN TRYING TO SELL IT
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5 BATHROOM PAINT COLOR TRENDS
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Healthy Lighting for Your Home
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Real Estate Chat with Kyle Kerr
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WHAT TO REPAIR BEFORE YOU LIST
First Time Home Buyer Tax Credit
Pricing your home
Making “Neighbourhood Targeting” Work for You
Lets Talk Tuesday
January 2019 Market Update
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Light Your Way to a Faster Sale
4 Ways to Make the Home Hunting Process Easier
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