When the costs of the housing market are high, you might be tempted to sell your home. You could make more than what you paid for it. While that may sound appealing, you also have to think of the costs of moving and a new place to live. Honestly, unless you have a backup house to live in, you aren't going to see much real profit. Moving into a new home is not always the best or most convenient choice.
What can you do? Well, ask yourself, why are you moving? Need a change of scenery, or is it something that could be fixed with a renovation? There are several reasons why you would want to move that could be solved with renovation, common ones being:
You may want to move for one of these reasons, but they are all addressed by renovating your current space. Before you decide to move, consider these questions:
Home renovation is about more than just changing the layout of your home. And often times, renovation is the best option. Here are some reasons why you should choose to renovate your home:
Renovation can grant you more space if you have an open mind and the right contractors working on it. Whether you are increasing the size of a bedroom or adding a new bedroom all together, a renovation can give you the space you need without moving.
Some homes have stayed in families for decades. Many of these homes have seen generations grow up in their walls. Keep your childhood memories. You don't need to move from your family's home. Renovate it to your liking and keep providing memories to future generations.
The number one reason to renovate or move is because you don't want to move. A lot of people feel like their only option is to move from an area or neighborhood that they have grown fond of. If you find yourself attached to your neighbors, or the convenience of being close to town is too much to part with, consider renovation.
When you move, you may find yourself looking for a new job. You might have to travel further for your current one. You have to consider this when you move. You have to know what your daily/weekly spending is going to look like before you commit to a longer commute than you can afford. Renovation is often times far cheaper than moving, and you can normally set a reasonable budget to stick to.