We’ve all had that point in our lives when we’ve started sneaking a look at the real estate listings in our area. Just to have a look and maybe see what we can get for our money.
But that sneaky look can turn into something more serious as the kids start to get bigger and space starts to run out. However, there’s always a dilemma when you’re emotionally attached to your current home and can see the potential it has for extending. Do you look to find a new home, or do you stay put and plan an extension?
There isn’t an easy answer to this. So, what should we consider when trying to decide between remodeling and moving?
Familiarity and location
The first thing to consider is the location you live in. If you and your family have been living in one area for a long time, no doubt you’ve built up close relationships with neighbors and the kids are settled in their school. So, moving away – even if it’s not far – could be something of an upheaval for everyone.
Of course, there can be positives to moving to a new location. Currently, you may not be near enough to amenities or too far away from green spaces for your liking. Or you may be too close to busy roads or commuting times may be too long. So, there can be good reasons to look elsewhere.
Getting the home you really want
Moving home can give you the space you crave without the hassle and expense of building an extension. But it can also get you more outside space, which is something that no amount of remodeling in your current home can fix.
On the other hand, remodeling your existing home gives you the ability to redesign your home to fit in with your lifestyle and needs. If there isn’t a wealth of properties in your area or within your budget, this may be a better option all-round.
Ways to remodel
Of course, that does leave the question of how exactly you remodel your home and there are plenty of different ways to create more usable space.
Perhaps the easiest options are going up into your attic space or adding a small, single-story extension to the rear of your home. But this may not always give you enough space, especially if your kids need separate bedrooms or you need to fit a home office in. Getting a double storey extension could be the answer in this case.
Of course, there are other ways to remodel or add to your home and other options include adding a garden room, going into the basement, or taking out partition walls. But whatever you do will require detailed planning and budgeting, so make sure you implement the right changes and don’t overspend.
Costs of moving and improving
Spending money is the final thing to take into consideration. Whether you move to a new home or extend your own home, you’ll need to spend money.
If you’re moving to a new home for more space or a better location, that’s likely to come at a cost. Popular areas tend to be pricier and bigger homes often are too. Plus, you’ve got to think about extra mortgage costs, moving costs and legal fees.
Extending your home comes with equally worrying costs. Structural surveys, planning and design costs, permissions, materials, and labor all come at a price. However, home improvements often add to the value of your house so you may get that money back in the future.
Mimicking Key Aspects
Let’s say you’re dead set on a home you’ve been eyeing. The main reason you might be fixated on it is because of its features. For instance, you may have fallen in love with its welcoming deck.
But if that’s it, then you should consider remaking the spaces that caught your eye in your home. Sometimes, it can even be as simple as choosing the right deck railing.
Other times, you may need to take more drastic measures, such as taking a wall down or stripping your flooring. Either way, it might be a project worth considering.
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