Renovate or Relocate ---- That is the question?

The renovate or relocate question is tricky.  It happens suddenly, over a cup of coffee and the morning newspaper, your house doesn’t fit your needs anymore and you can no longer deny it. 

So perhaps it’s time to make a hard decision of which there are numerous in our lives. The first milestone can be when children arrive and you need more space, then children become teenagers and your shared accommodation feels more like an invasion of privacy.

Then in a few years the children move away and the house suddenly feels too big so maybe it’s time to downsize or convert and then there is the consideration of ageing relatives or an ill spouse and your home needs to become more accessible, yet another change!

It is important to know what you might be letting yourself in for if you decide to renovate. On the whole it is likely cheaper to stay in your own home but living through renovations is stressful and can be subject to financial blowouts.

It can be a useful exercise to list out for yourself what the pros and cons are of renovate or relocate.

I am gonna stay!

Existing mortgage has low interest rates repayment amount is low.

Fewer fees are likely to be involved in staying.

Already established life in local community, neighbours, friends, schools, clubs etc.

Good existing access infrastructure such as public transport, shops, doctors etc.

Existing improvements you have already made, heating, carpets, new kitchen, redecoration etc.

There is space upwards or outwards to extend your home without loss of amenities.

I am gonna go!

You will get more space without having to add on.

You won’t have to deal with tradesmen, architects, noise, dirt etc from renovations.

Your desire to move might be to reflect changes in family structure, older children, older parents.

The shape of you existing house has never done it for you.

Adding an extension to your existing house will more than likely spoil its character.

Renovations will over-capitalise your property given the area that you live in and the current market values.

What does your heart tell you?

Sometimes it is as simple as it’s time to leave the place you have spent many years in.  A change of view, location, can renew energy and family spirits are re-energised with new lifestyle possibilities.  Above all else your heart maybe the top motivating factor that will drive you to move on!

And hand on heart

And don’t forget hand on heart throughout the journey David Jordan Estate Agents will be with you to offer their years of expertise to guide you along the way.

www.DavidJordan.co.uk

Tel: 01323 898414