Determining if 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 considering whether to move or improve, here are three things
1. Will a renovation truly fix what you don’t like about your property?
If you’re tired of a small kitchen, for example, it might not be possible, given
the layout, to make it any bigger. On the other hand, if you’re craving a
spacious rec room with a cosy fireplace then a renovation could make that
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 each so you can make a smart
decision. This is where a good REALTOR® can help.
Keep in mind that renovations have a habit of costing more than you
originally anticipate. As mentioned earlier, 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 — renovate or sell — you can expect to have
to make at least some compromises. That’s normal.
For example, consider adding an extension to your house. That’s 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
designed to include the space you need?
If you still have questions that’s normal too.
Call me and discuss your options.