Choosing Between Renovating and Moving Are you tired of your old, boring home? Are you struggling to decide whether to move to a new home or stay put and make a major renovation instead? Then this article is for you.
Moving to a New Home
The beauty of moving into a new home is that you will be able to see a fully furnished home once you make the decision. Unlike renovations, moving does not usually take months to complete. However, the biggest downside of moving is the entire cost of the process. The monthly mortgage payments, movers, property taxes, real estate agents are just a few of the expenses involved in relocations. You will also have to go through all the troubles of selling your home - hiring handymen, staging your home, closing utilities and many more.
On the other hand, the best thing about home renovations is that you can get the chance to design the modifications you want to make. You can add, change or enhance any area in your home, giving you a more personalized space. However, renovations also don't come cheap. Aside from the materials you will have to provide, you will be spending for the interior designers, architects, new furnishings and appliances. You may also have to take out a second home loan and face higher property taxes.
A Matter of Cost and Convenience
As you can see, the decision on whether to buy a new home or do a remodeling project really depends on the cost and the inconvenience you are willing to bear while building your dream home. If you want something that is entirely different from your old home and neighborhood, maybe moving is best for you. If you are already attached to what you have, then stay and renovate your home as you please.