Have you spent years in your house and are now looking for a change? Sick of the unfinished jobs that need doing? Have you seen your dream home and think it may be time for an upgrade?
The question is, should you move house and make a fresh start, or stay put and make all the improvements needed to your existing home?
Not sure? Let us try to help you find what is the best option for you.
Improving your existing home is a great way to add value which is money in the bank.
Renovating your home means you can put your own stamp on it and create something that is perfect for your family and lifestyle.
By renovating you home you can create the perfect space in a place that you are familiar with that holds lots of memories. You can think about exactly what you need and make changes to suit you. Whether its completely remodelling the home and changing the whole layout or making cosmetic and practical changes like changing the kitchen, adding a new bathroom or making a loft conversion you can really add value.
Its important to remember that nearly all properties have ceiling values, so research similar properties in your area to see what they sell for so that you are not putting money in that you will never see again if you choose to sell.
Whole you can change your properties appearance, you cannot change the area, so if you are unhappy in your house because of the area, the location, the amenities such as schools, shops, restaurants, then you may need to consider moving.
Renovations can seriously disrupt your life and usually take longer than anticipated and come with hidden surprises such as additional costs, and uncovering problems. If you are not prepared for this and can not handle any major disruptions to your life, then renovating may not be the option for you.
The best thing about moving house, is you get a brand new home and a new start. Usually the home you move into will be finished, so you do not need to worry about taking on any major projects.
If you were unhappy with the location and amenities in your old property, then moving could help you find the perfect area for you and your family.
Your lifestyle could improve because you could have more space, better location, no unfinished jobs, but this may come at a price because the value is already added.
There are also a lot of costs associated with moving to a new property and these really can add up. Stamp duty can add a few thousand pounds to the purchase price of a new property, and the more expensive your property, the more you will pay. Estate agents fees can be up to 3.5% or your properties sale price which can also equate to thousands of pounds. Then there are solicitors fees and moving costs to consider.
What should you do?
It really is down to personal circumstances. You should sit down and work out the pros and cons of moving or improving. Work out what is important to you and calculate what it would costs to stay put or move to achieve these things.
Get lots of quotes from tradesmen, and professionals such as solicitors, estate agents, removals companies, and others so that your numbers add up and that should help make the decision a little easier.
Moving House Advice Guide - Decided to move instead of improve. Read our home moving advice guide.