To move or improve? That is the question you might be asking yourself, especially if your home is currently frustrating you... and not just because of quarantine! But the answer isn't always straightforward - there are factors you need to take into account before coming to a decision. So hold off on house hunting or beginning the search for a renovation expert before careful consideration to avoid that buyers remorse. Here are some suggestions to help make the right decision for you, right now.
"The ultimate luxury is being able to relax and enjoy your home."
- Jeff Lincoln
When You Should Move
Moving to a new home is a good idea if the following are true:
YOU DON'T LIKE THE LOCATION:
You can easily spruce up your bedroom or living room, but it's not so easy to reduce the local crime rate, manage difficult neighbours, or shorten the commute to your workplace. If the location of your home is problematic for you, then a move looks to be a smart idea, with the aim to find a neighbourhood that is safer and more in line with your other practical needs.
YOUR HOUSE NO LONGER MEETS YOUR NEEDS:
As we go through life's journey, our circumstances change and the requirements needed for comfortable living spaces can change with it. If your children have flown the nest, you might have little need for a larger property full of empty rooms. Or if they are still young and your family has grown, a new home might be essential for safety, sanity and separation, especially if there is no easy way to extend the house you are currently living in. Likewise, if you've decided working from home is so much better than the office, or you've started a home-based business, very specific new needs like an accessible office, studio, home gym or basement might be the catalyst for change.
YOUR HOME HAS BECOME A MONEY PIT:
If you're forever making repairs around the house, spending weekends maintaining the yard, or finding hazard after headache, maybe it's time to consider if it's all worth it and whether it's a problem you want to keep. Instead of suffering yet another tradesperson bill, what if you considered seeing what else is out there or finally bit the bullet and bought your dream home? What if....!
When You Should Improve?
Moving home is stressful, so you might want to consider a home renovation instead if the following are true:
YOUR GRIEVANCES ARE MINOR:
If you're annoyed that you don't have enough drawer storage space in your kitchen, or you would love a quartz counter instead of a laminate one, you could hire a company that specialises in small kitchen renovations to make that wish come true, rather than packing up and leaving. If you don't like the colour or design schemes in your home, it might be that a home makeover is better than the potential hassle of a move elsewhere. Cut down that straggly bush, replace your letterbox, add a skylight, hang new drapes, luxe up your laundry, make better use of that weird space under the stairs - whatever you've been wanting to update or renovate, there's no better time to do it than today so you can thoroughly enjoy, entertain and everything in between - at home - and quit playing the move or improve game in your head once and for all.
YOU LOVE YOUR HOME & LOCATION:
If you have an emotional connection to your home and you have close ties with the people in your community, it might be a shame to leave it or say goodbye. While a relocation might seem like a fresh start, it could also be true that the grass may not be greener on the otherside. And if you're still unsure, ask the advice of your support specialists like your financial advisor, mortgage broker, or investment guides. At least then you can base your decision more on facts and figures than feeling.
I know it can be a huge decision and one I've had to make many times before,
so I wish you every success and happiness, whatever it is you decide to do.
Stay safe, keep it simple, live the life you've always wanted to - now - because, if 2020 has taught us anything,
it's that we truly cannot know what's right around the riverbend!