As families change, so do their priorities. What was once the perfect home may become obsolete for the group, and a decision needs to be made. Can the current living situation meet our needs through some key renovations? Would our priorities be better solved by selling the house and moving? Below are a few key pros and cons of each decision, and some options to consider before making your choice.
House or home?
Before making a split-second decision, you should take time to reflect on the emotional significance of your current location. How do you feel about your neighbors and the surrounding area? If you have a home that fits your specific lifestyle, or is in the perfect spot, the renovations can offer a fresh new spin on your current situation. Alternatively, if it’s not fitting, it can be the perfect opportunity to start a new life in a new location. As families change and grow over time, the needs of the group shift. By doing an inventory on your needs, you can come to a conclusion specific to the current situation.
Improving your current situation.
With reno television shows and showcases online, the bar has never been higher for home renovations. By planning and budgeting correctly, your renovation can not only improve your own life, but increase appeal from perspective buyers as well. Consult with a local realtor to get an idea on the type of trends and priorities that help improve the valuation of your home. You may be a few tweaks away from a whole new house.
When committing to a renovation, you should look at what critical aspects need to be addressed first. Kitchen, bathroom, hardwood floors, or any public facing aspect of your home that is frequently used is a great place to start with improvements. Writing out a priority list creates a sense of accomplishment as you work through you home tailoring it to your needs.
Upgrading by moving.
Sometimes, the best decision for a family is to pack up and move to a new destination. Before the move, talking to a realtor allows you to get a sense of the type of value your current house has. By planning some key renovations in advance, you can have your current house in the best position to sell. Try to get a grasp on the needs and concerns your family will face in the coming years, and communicating them to your agent helps them find you the perfect location Clearly stating that you are looking for a community in a school zone, more space for the kids, or a larger basement can help you focus on finding the best house on the market for your tailored needs.
Reno or improve?
In the end, there isn’t a perfect choice in all situations. What is important is having the self-awareness to know what is important to your and your group, and understanding what type of home dynamic you want in the coming years. Whether choosing renovation or moving, you will be confident knowing the choice was made with your family’s best interests in mind.