Sometimes renovating your existing home can feel like an easier option than having to find and move into a different home, you get to stay in your neighbourhood and you can simply adjust your home to suit, easy, right? Well, there’s a lot of factors to consider, including cost and time. In fact, renovating can create so much uncertainty that moving may be the better option, here’s why:
Ongoing disruptions:
Renovating can cause months of disruption, bathrooms out of action, kids sharing bedrooms, tradesmen making lots of noise and don’t forget all the dust. The disruption of a renovation can become very stressful for most families.
Unforeseen costs:
How many times have you heard stories of renovations costing more than the original budget? There are often unforeseen problems with significant renovations, and these can cost you big time.
Uncertainty:
It can be a very uncertain time, with deadlines pushed out, budgets needing to be extended and of course the fact that you won’t really know how it will look until it’s all finished.
Time:
Renovations almost always end up taking more time than originally estimated, which means you could be living in the middle of chaos for a lot longer than anticipated.
Most people who have successful renovation stories work in the construction industry, meaning they have a lot of experience with how it all works and can usually get things done for a fraction of the cost. If you’re a busy family with school and work commitments, you might be better off simply looking for a new house. You can set your spending limit before you start and see exactly what you’re buying before you make any commitments.
