Anyone who has owned a house for any length of time has probably faced this dilemma. Improve or move. You like your current home but now it’s not exactly what you want or need. You have to make the decision. Do you put it up for sale or make improvements instead of selling?
Many factors need to be taken into account. Are you emotionally attached to your home and what is your financial situation? Ask yourself the question, what is the likely return on any home improvement investment against the affordability of buying a new home?
Stay put and invest in home improvements
According to many experts within the housing industry, more property owners than ever before are making home improvements instead of moving. There are numerous reasons for this.
- Moving home is quite an expensive business
- You may have to take out a bigger mortgage or use savings to fund the move
- There’s always the uncertainty of moving home. What are the neighbours like, the schools, shops and so on?
- You also need to pay a solicitor and cover moving costs
If you’re moving into a more expensive property, there’s also the stamp duty to think about. When weighing up all the pros and cons it may be in your best interest to stay put and invest in home improvements.
Exciting home improvement opportunities
OK you’ve decided you like your home, the area and neighbours too much to uproot and move. The next step is to look at ways in which to improve your current property. How about adding an extension, changing the layout or having new windows and doors installed throughout the property? There really are many exciting home improvement opportunities out there.
Improving your current property is also a good option if you don’t have much equity in the property itself, making moving difficult. It’s important to make the right choices, both for your own comfort and to make it easier as well as lucrative should you decide to sell in the future. When it comes to carrying out home improvements you don’t have to break the bank.
Imagine how beautiful your home would look with new French doors, patio doors or bi-folding doors. The latest in double or triple glazing will add the “wow” factor while at the same time reduce the cost of your energy bills. Investing in a new roof is the perfect way to apply those finishing touches for a complete house makeover, so go for it.
Home improvements are also a great investment and much less hassle than moving home. As long as you have the space, an extension, a new conservatory or orangery will give you the house you want for a fraction of the cost. To breathe new life into your home, putting in a new bathroom or kitchen can help. Let’s be honest, you’ll have to put up with a certain amount of inconvenience and disruption for a while, but it will be worth it in the long run.