Renovate or Move
This is one of the common questions that people are really confused about. Here is a list of factors to consider before coming to a conclusion.
- Cost Factor:
Cost is of course the major factor in home improvement decision. Analyze the cost of both the things, calculate the amount the you will have to spend if you decide to renovate your house & research on the value that you will be getting if you are going to sell the house. Renovation comes with immediate out-of-the pocket expenses. If you have enough savings you can definitely go for renovating your house, but if you think you will save money by selling the house.
- Location:
Location is another important factor to consider. If the where you live or the location where you are planning to move has all the necessary things that you require for example, if your work place is close to your house, if there are upstanding schools & colleges you can definitely go with that location. If you get any problem finding the basic necessities in your location you must definitely change your location.
- Market Condition:
Before coming to a conclusion make sure you do a complete research on the market condition. Is this the right time to sell? Will it be cheaper now to renovate the house? Will you get the right value for your house at this point of time? Make sure you have appropriate answers for all these questions.
Go with the decision that will benefit you now & also in the future.
- Emotional attachment:
We all are emotionally attached to our place more than we think. You & your family might have a lot of memories with the place you live. Consider the emotional factor as well when you make the decision.
Also give a though to if this is a right time for you & your family to move.
