Should You Sell Your Home Or Renovate?
Did you purchase your home with the mindset that you were not going to keep it for a long period of time? Are you now attached to your home and feel like renovating it would be sufficient? You might feel like you and your home is not the perfect fit, and that is ok. You have a few options to consider. Should you sell your home or renovate?
It’s normal to want to change things around in your home, even when you build it from scratch. You come to learn that certain things would work better in certain places and that one bedroom should have been structured differently and so on. For example: ‘I love my house but the bathroom is not big enough.’ Minor changes can be done with renovations, but if you are at the point where there are an abundance of changes that need to be done- then it might be more profitable to sell and buy a new home. Renovations can be costly and things add up depending on what you are doing. Keep in mind the cost of all the changes and whether or not you can find a new place for a more affordable price.
The problems might not arise in the home; it might be what’s outside of the home that is causing the problems. Maybe you are on the water, and your house floods all the time or you are situated on a busy road, which is loud and overwhelming for you. There are problems you might not have realized until you moved in. That is ok too because you do not have to stay put in one place if you own your home. You have many different options to consider. That is one of the beautiful factors about owning your own place and being able to control your decisions.
A big decision factor comes down to whether or not your home is where your heart is. Do you have a good relationship with your neighbors? How do you feel about the location of your home and the surrounding places? Are you in an area that is growing? If you love the area you are in and you have strong ties with your neighbors, maybe renovating is the right option for you. If you do not have ties with your neighbors and do not particularly enjoy the location you are in, then selling might be the right decision for you.
You might be at the stage where your family is growing and there is no way to magically make a bedroom appear in the space that you have already. You either have to renovate and build on another room or find a place that has enough bedrooms for your family. These are questions you need to ask yourself and examine in order to make sure they are in the budget. You also want to ensure that your upfront costs will make a return on your investment. Some home upgrades do not cover half their expenses, while others can make back 80-90%. Again it all depends on how big of a renovation you want.
The best way to determine whether or not you should sell or renovate your home is to determine what needs to be done with your home. Then start pricing everything out and create a budget. Also look at other homes that are in your budget and that matches all the criteria that you are looking for. Look at the negatives and the positives with both and try to come to a conclusion on what makes the most sense and what will make you the happiest. If you were not at all happy with your home, the best decision would be to sell.
At Realigro, we can help you find a home that will make you the happiest and match all your wants and needs. You are one step away from finding your dream home.
It’s normal to want to change things around in your home, even when you build it from scratch. You come to learn that certain things would work better in certain places and that one bedroom should have been structured differently and so on. For example: ‘I love my house but the bathroom is not big enough.’ Minor changes can be done with renovations, but if you are at the point where there are an abundance of changes that need to be done- then it might be more profitable to sell and buy a new home. Renovations can be costly and things add up depending on what you are doing. Keep in mind the cost of all the changes and whether or not you can find a new place for a more affordable price.
The problems might not arise in the home; it might be what’s outside of the home that is causing the problems. Maybe you are on the water, and your house floods all the time or you are situated on a busy road, which is loud and overwhelming for you. There are problems you might not have realized until you moved in. That is ok too because you do not have to stay put in one place if you own your home. You have many different options to consider. That is one of the beautiful factors about owning your own place and being able to control your decisions.
A big decision factor comes down to whether or not your home is where your heart is. Do you have a good relationship with your neighbors? How do you feel about the location of your home and the surrounding places? Are you in an area that is growing? If you love the area you are in and you have strong ties with your neighbors, maybe renovating is the right option for you. If you do not have ties with your neighbors and do not particularly enjoy the location you are in, then selling might be the right decision for you.
You might be at the stage where your family is growing and there is no way to magically make a bedroom appear in the space that you have already. You either have to renovate and build on another room or find a place that has enough bedrooms for your family. These are questions you need to ask yourself and examine in order to make sure they are in the budget. You also want to ensure that your upfront costs will make a return on your investment. Some home upgrades do not cover half their expenses, while others can make back 80-90%. Again it all depends on how big of a renovation you want.
The best way to determine whether or not you should sell or renovate your home is to determine what needs to be done with your home. Then start pricing everything out and create a budget. Also look at other homes that are in your budget and that matches all the criteria that you are looking for. Look at the negatives and the positives with both and try to come to a conclusion on what makes the most sense and what will make you the happiest. If you were not at all happy with your home, the best decision would be to sell.
At Realigro, we can help you find a home that will make you the happiest and match all your wants and needs. You are one step away from finding your dream home.
