A new year often triggers thoughts of moving house or changing jobs. If the start of January has got you thinking about upping sticks, you may also be considering alternatives, including sprucing up an existing property. In this guide, we’ll explore the pros and cons to help you decide whether to revamp or relocate.
Revamping your home
In 2020, DIY sales boomed, as homeowners seized upon the opportunity to undertake projects while spending more time at home. As many of us continue to work from home and it seems as though external entertainment options will be limited for some time, our homes have become more integral and important than ever before. Renovating, revamping and refreshing the decor, altering the layout and taking on work like converting rooms and extending can help people who don’t want to move enjoy a brand new home in the same location.
One of the main reasons home renovations have become so popular in recent months is the desire to maximize space. With more and more people working from home, and children and adults studying at home more frequently, our houses have had to become more versatile. Kitchens are no longer used to rustle up family feasts and entertain. They have also become spaces to work, learn, play and indulge hobbies and interests. Creating more space is a means of making homes more adaptable and practical, and it can also add significant value. There are several options worth considering, depending on your budget and the amount of space you have available. Converting lofts and basements is an excellent idea for those who want to make the most of the living space they have available, while adding an extension can create new bedrooms, bathrooms, family rooms and workspaces. For those with a slightly smaller budget, altering the layout can open up rooms to form larger, brighter, more spacious kitchens and living areas.
For some homeowners, there may not be an option to enhance the existing living space or add extra rooms. If this is the case, it might be possible to utilize outdoor areas to free up space inside and create a new room outside. Garden rooms, log cabins and large sheds, for example, can be used as teenage hangouts, playrooms, retreats for hobbies, gyms and offices.
Real estate agents all over the world have reported an increase in demand for properties, especially those in more suburban or rural areas. As employees moved away from busy city center offices, and lockdown measures were introduced, many craved open air and scenic views. Relocating can be beneficial for several reasons, including the opportunity to get more square footage for your money, access to gardens, driveways and larger living spaces and the option to put your stamp on a new home.
Before you decide whether to stay or move, it’s always beneficial to think about the reasons why moving makes sense and to consider the financial implications. Most people will need to sell before they can buy another property. If you’re worried about selling your home quickly, or you need to raise funds to purchase a house you’ve fallen head over heels with, there are options, including services like those provided by HomeGo. It is worth exploring all the avenues before you make a decision and ensuring that you’re 100% sure that you want to sell before you agree to put the For Sale sign up. Once you know what kind of budget you have, you can narrow down your search options and decide upon potential locations.
Many of us have a wish-list or a mental vision of our dream home, but it’s not always easy to find a house that crosses all of the boxes. If you find that you can’t afford to buy in your favorite location, or you can’t seem to find a house that offers everything you want or need, you might wish to think about building a new home. Building a brand new property can take time, and there are decisions to be made, but it does give you scope to be creative, to design a bespoke home and to save money in some cases. When building a new house, it’s crucial to be rigorous when budgeting and planning how you’re going to spend your money. Compare quotes, make sure you factor in all charges and fees and round up, rather than down. It’s wise to have a contingency fund to dip into if there are delays or you change your mind and you want to increase the budget.
A new year often brings a desire to make changes. If you’re thinking about moving, or you’re wondering whether to take on a renovation project, it’s beneficial to weigh up the pros and cons before deciding which option is best for your family.
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