Renovating vs Buying a New House – Which is Better?

Even if you really love your house, there are situations when you just need more space. Or maybe you like the neighbourhood you live in but the design just isn’t satisfactory anymore.

Renovating vs Buying a New House

There are two possible options homeowners in such situations have to consider — whether to move or renovate. Depending on your needs, either of these solutions can have its own benefits.

Read Also:

• What Are the 5 Most Important Things to Do Before Renovating Your Home?
• Factors In, Out, and Around a Property to Research Before Choosing a Home
• A 4-Step Guide to Making Your Living Space One You’ll Love
• Renovating Your Home? Don’t Forget These Important Steps
• The Benefits of Renovating Your House Before Moving

Renovating a House

Your house is not just a building you live in, it’s your home. You can get emotionally attached to a place where every little corner holds its own memories.

So it’s not a surprise that deciding on leaving it is tough. Thankfully, in most cases, renovation is enough.

Advantages

Choosing home improvements over moving enables you to stay in a familiar neighbourhood, where you already know everyone. It’s an especially important factor when you’re surrounded by your friends and family, and you don’t want to change that.

Renovation is also a great way of minimising expenses. You don’t have to renovate the whole house at once but can choose to make smaller and more cost-effective changes instead.

Something as simple as new balustrades and handrails can completely transform the space. If gaining additional living space is your main concern, it may be possible to achieve this by converting an unused loft or building an extension.

Disadvantages

Even though a renovation is generally cheaper, it can involve unexpected costs. There may be problems within your house that you didn’t even realise existed, but they’ll come to light during construction works.

Plans don’t always work out the way they were supposed to, so you need to be prepared for delays and disruptions to your everyday life. It’s also worth remembering that any structural changes to a house will most likely require permits and, depending on where you live, certain alterations may just not be possible.

Buying a New House

Some people need changes in life and moving to a new place may be a perfect solution for them. Some would just like to cut down on the commuting time and move closer to work.

Whatever your reason for looking for a new house is, there are several pros and cons to such a decision that is worth considering.

Advantages

Buying a new house gives plenty of opportunities to start anew. From meeting new people to exploring new places, it’s a great way of breaking up your routine a bit. It may not always be possible to make changes you want in your current house, but with a new one, you know exactly what you’re paying for.

You can find one that fits your needs perfectly, be it a location or its size, and get a house you’ve always dreamt of. It also allows you to skip on a messy and time-consuming side of the renovation process.

Disadvantages

While finding your dream house sounds perfect, it’s definitely an expensive affair. You not only have to look for a new house, but you also need to sell your current one, which may prolong the whole process.

Getting a loan to finance your move will take some time as well. Even after the purchase, moving a house is not as simple as it may seem at first.

Planning removals in Pinner will definitely be cheaper than moving to another part of the country, but either way, you need to be prepared for the cost of transporting your belongings.

When you try to decide whether to move or renovate, there are no bad choices here. Make sure to consider all the advantages and disadvantages before making your final decision. And remember that everything depends on your current life situation and what will suit your needs best.