When the family starts growing, deciding whether to move out or to renew your home is a decision that’s not always easy to make.
Every so often you will get the feeling that it’s time to find a new home or get some work on your place done: sometimes it’s due to the arrival of a new member to the family, sometimes it’s simply because the house needs maintenance work and you use that as an excuse to get those works that are not a priority but you’ve been dreaming about for a while done. And surely one could find many other reasons to move out or redecorate.
Sometimes you’ll go for a small renovation, if you’re looking to renew just one division, like the kitchen or the bathroom, but now and again you’ll need something big, like extra rooms or even a full renewal of the inside/outside of the house. This can be done according to your dreams or according to your wallet. You might want to improve your comfort standards or indoors mobility. You might want to feng-shui your home or you might be looking sell it.
If you are indeed considering selling your property, you will probably get just enough done to make the place more attractive for potential buyers. Freshly painted walls and impeccable sanitary ware are important details sure to make a difference for people looking for a new home.
If you’re planning on staying in the home you’re renovating, there’s a good chance you will focus on improving comfort, either by repainting your walls or investing in area expansion or mobility improvements. You’ll probably think of getting a new kitchen or a new bathroom which are the first two areas that come to mind when it comes to renovating a home. All these will add value to the existing constructions.
Depending on how big you want the renovation to be, you should consider the money aspect, since these works might sometimes bring “surprise extra works” in areas that weren’t included in the original plan, with extra costs. You should also ask the local authorities about rules and regulations. It’s important to know whether or not you’re allowed to add a second-story to your house or expand your areas and how many square metres you can add to it to get exactly what you wish.
If you’re quite crafty and you’re dealing with a small renewal, you can venture with some DIY, a very trendy option these days that can be found in many television shows. Make sure you always comply with the regulations, about what you can and cannot do.
If you’re dealing with a big renewal, or working on a classified building/area and you don’t want to be worrying too much, you can get help from professionals who will take your ideas and find the projects and budgets to best fit your needs, so you can choose the best option available.
You should however pay attention to the financial aspects of the renewal: you should be aware of the housing’s global value, as well as its proportion to the costs of renovation. If, for example, you have a property estimated in 200 000€ and you wish to get 60 000€ worth of renovation works (eg. two bathrooms and one kitchen), you’d be having extra costs that you would not be able to make up for by increasing the selling price. Be sure to always take into consideration all the changes to the house that you won’t be able to reverse later on.
If you feel that your home needs too many improvements in order to reach the aesthetic and comfort standards you’re aiming for, you might be better off moving house as it might be the cheapest option and it will save you all the hassle of moving to a temporary home, or worse, living in a house that’s being worked on.
Bear in mind that when you buy a new home, you’re buying something that is already built and therefore you might have to compromise your desires: the house may not have the number of rooms you wanted, the location may be lackluster, the materials may not be the most suited, there might not be as many green spaces in close proximity, etcetera etcetera. You will always find yourself dependant on what the market has to offer.
All things considered, buying the house while it’s still being built might allow you to choose materials.
If you’re not prepared to let go of any of your desires, you’re probably better off buying land and hiring an architect keen on designing you the house of your dreams..
There will always be pros and cons on whatever you decide to do, but as long as you think your options through and get help from professionals, you’re certain to make the right choice.
