If you’ve run out of space, you might be thinking that you have to up sticks and relocate. While it may not always be possible to remodel, home renovations can provide an alternative for some homeowners who are reluctant to leave a property they love behind. If you’re at a crossroads, and you’re wondering whether to move or stay put, hopefully, this guide will help you make a decision.
1. Remodeling Benefits
When you look at a house, it’s very easy to see it for what it is at present, rather than zoning in on its potential. If you’ve bought a home that you’ve fallen in love with, you don’t necessarily have to rush into putting a ‘for sale’ sign up outside if you’ve run out of room. If you’ve welcomed new additions to your household, or you’ve started working or running a business from home, for example, there may be alternatives to moving. Remodeling covers a range of options, from making the most of the space you already have available to adding square footage.
If you have space at the back of your home, or there is room to expand at the side, you could consider adding a single or double storey extension. An extension will create extra living space, which you could use for additional bedrooms, a new living area, a spacious kitchen-diner, a playroom or a workspace. Extensions often add substantial value, and they can also help to make your property easier to sell if you choose to put your home on the market.
For homeowners that don’t have room to extend, it’s worth considering projects such as converting an attic space and adjusting the layout of the ground floor. These options enable you to create more usable room and to improve functionality.
2. Relocating Advantages
If you don’t love where you live, or you’ve been in the same property or area for a long time, the idea of moving to pastures new may be exciting and intriguing. Relocating enables you to explore different styles of home and discover new areas. You might also find that you could save money by moving to a new part of town or that you get more for your money by leaving a real estate hotspot behind.
The first step to take when toying with the idea of moving house is setting a budget. You don’t want to fall madly in love with a property you can’t afford. Before you call agents or browse listings, work out how much you can afford to borrow with the downpayment you have, and how much you want to spend. Try to avoid overworking yourself. Once you have a figure in mind, you can start filtering results and arranging viewings.
Are you thinking of moving? Before you make a decision, consider your options. If you love your home, and you don’t want to leave, there may be ways to maximize space, improve functionality and enhance value. Explore different ideas and options, get some quotes and weigh up the pros and cons.