Everybody gets bored in their homes after a while. They look around and see the same old rooms, the same old designs, and maybe one or two minor problems all of a sudden become much bigger problems in their heads. It’s at about this stage that some people decide to cast their eye to their market and see what else is out there on the market. Looking around at the homes available in estate agents, they’ll see what they imagine to be their perfect home – only, of course, it isn’t perfect: the attraction is just because it’s new. There are ways to combat home boredom; in fact, one of the simplest way to see your home through refreshed eyes is to simply move the furniture around!
But if that doesn’t do that, then you do have another option: renovating your home. This option, on paper, as exciting as picking up all your belongings and starting afresh in a new house, but it does have a bunch of advantages – and in many cases might be the most sensible option available. Take a look at some of the reasons below why it might be better to renovate than move.
Friends, Family, and Community
You’ve lived in your current home for how long? If it’s more than a year, then you’re probably part of the community! Don’t discount just how much you’ll miss having people you can rely on nearby. While you’ll of course make new friends when you move, if you already have roots in a community then you might be surprised at how much you miss it once it’s gone. Your children may have friends living on the same street; your dog might have a few friends of his or her own also. Your local shop, bus driver, library…all these things are an important part of daily life and shouldn’t be given up without serious consideration. So before you move, think of Bob, and Janet, and Ralph, and all the other characters you have in your local life.
It Can Be Cheaper
And now we’re talking! Yes, renovating your home can be cheaper than moving to a new house. Even if, say, you sold your house for one value and spent the exact same amount of money on your new home, it would still be costing you money – because there are so many unexpected fees that can crop in a house move. It’s not just estate agent fees either, but taxes, solicitors, movers, and all the rest. You might even have to take time off work, which while not “costing you money” will affect your cash flow. A home renovation isn’t cheap, of course, but look at the big picture and it might be cheaper than you think!
Designed In Your Own Creation
The main advantage of renovating your home is that you get to design it in your own creation. That is, you’ll be able to have the areas of the house you renovate exactly as you want them. Even if you did this when you first moved into your home (and you might not have), it’s exciting to be able to create a new and modern look from scratch. It allows you to get creative and really put your personality into your home. It also gives you an excuse to upgrade all the features of your home; if you’re doing the dining room, you might want to splash out for that vintage dining table you always wanted; in the bedroom it’ll be a plush Feather & Black bed; in the kitchen, a high quality knife set, and so on.
You’ll be getting the house the way you always wanted it to be, and you’ll also be adding value to your home! Renovations that cost several thousand pounds can add up to 10 percent to the value of your home. If your home is worth £250,000, then this could mean an additional £25,000 just for the cost of improving one area of your home that you really wanted to improve anyway! Some renovations are costlier than others, though these also attract the higher increases in home values. Of all the renovations you could do, converting a loft into another bedroom is the one that would cost the most, but also bring the biggest rewards. An added bathroom, especially an en-suite, is another good option; they can cost as little as £2,500, but can add 6% or more to the value of your home.
Long Term Goals
When you’re thinking about renovating, it’s important to think about the long term goals you have for your home. It might not be about selling at all. It might be that if you decide to stay put and renovate that you’ll end up staying forever, more or less. If this is your thinking, then you’ll have to ask yourself: how many bedrooms are we likely to want in the future? This is the biggest question when it comes to renovating, because while most other things can be adapted or modified, there’s only so much bigger you can make a house. Essentially you’ll have to consider how long you plan to be in your home once the renovations are complete.
You Don’t Have To Move
It’s an underrated advantage of renovating your home: you don’t have to move. If you’re already in a home then you probably already know how stressful it can to pick up your entire life and move it to another slice of the world. The day itself can be a nightmare – ranks higher on the stress levels than divorce! But even beyond that manic first day, you have months of not being fully at home, figuring things out, finding unexpected problems and other issues you just hadn’t considered before you took the plunge and bought the house. Renovating might not be a walk in the park, but it’s less stressful than a big move!
With all that being said, we can’t write an article on renovating without mentioning some of the pretty big pitfalls of renovating. For starters, it’s time consuming, and it’s entirely possible that your home will resemble a building site for 3 – 6 months, or even longer if the job is complex. It also doesn’t always make financial sense. For instance, if you upgrade the number of bedrooms you have from 3 to 4 then it will add value to the cost of your property, but if it’s not in the right location then there’s a chance no one will buy it. This happens in communities of starter homes, where people generally are just looking to get on the ladder and not stay to raise a big family. It’s also worth remembering that there are limitations to what you can do; renovating your home is actually renovating just a few rooms in your home – you can’t completely overhaul your property as that would be wildly expensive.
Renovating a house isn’t for everybody. Some people just want to get away and some have simply outgrown their property. However, it should be considered more often than it actually is. It allows homeowners to really put their stamp on their house and mould it in their own design. With a bunch of other advantages, and with home prices in the UK getting more and more out of hand, it might be that the coming years we see a surge in home renovations rather moving. What will you do: will you stay, or will you go?