Collaborative Post
Your home is your castle. But there comes a time when the ramparts begin to show their age and wear, the drawbridge doesn’t always retract the way you’d like it to, and there’s something that looks decidedly less than savoury floating in your moat. When you buy your home, it can seem like the answer to all of your problems. But as your family grows and you accumulate more and more belongings, your home may no longer be quite as perfectly fit for purpose. When it feels like you’re outgrowing your home, it becomes painfully apparent that something needs to change.
So, what do you do?
Do you stay where you are and renovate your way to the perfect home? Or do you up sticks and relocate to pastures new? There are no right or wrong answers. Here are some tips to help make the right choice for you and your family…
How much do you love your location?
As anyone who’s ever seen a UK property show will tell you, finding the right home is all about Location, Location… well, you know the rest. Your location will determine your access to the amenities that make your free time such a gift from cafes and bars to parks and leisure centres. Not only does proximity to these improve your quality of life, it also directly impacts on the value of your property. And moving to a larger home may mean sacrificing the convenience of living near amazing amenities.
If you’re considering renovations or extensions, these are only ever as valuable as the architect that designs them. As such, it’s well worth taking the time to get to know some Residential Architects in your area and seeing which ones you trust. So they know the area and what gives it its unique aesthetic charm? Can they help you in applying for all the planning permissions needed to stay on the right side of the local council? Can they recommend contractors whom they trust to bring their vision to life?
How much capital do you have to invest right now?
If you’re making a special effort to be frugal, you may struggle to cover the myriad costs of a big move. This can lead to loans and credit card spending and potentially high interest rates. Renovations, however, might be easier to cover without incurring high interest rates. Many, for instance, choose to refinance their homes to pay for renovations and may actually reap significant benefits depending on interest rates.
Will your little ones be able to handle the disruption?
Of course, it’s not only monetary value that needs to be considered when making this decision. Parents also need to consider the impact a move might have on their little ones, especially if it means having to say goodbye to school friends. Anyone who’s seen Disney / Pixar’s Inside Out know how much of a toll moving home can take on a child.
Again, there are no right and wrong answers, but being aware of the above will help you to make the right choice for you.