It’s not uncommon for homeowners to reach a point where they start to feel a little less desire for their home. Some people may outgrow it and want to expand, others may feel the need for a change of lifestyle altogether.
The big question is whether it’s worth sticking around, spending some money on it, giving it that ‘new home feeling’, or sell up and start again fresh somewhere entirely new. This can be an anxious thought process and careful consideration of your personal circumstances should be undertaken.
Reasons for this can span from smaller things such as wanting to upgrade fittings and décor, to upsizing or downsizing your living space if a major lifestyle change is in the works. Sometimes the list of required improvements is just too extensive, to the point where it would be easier to pack up and begin fresh with another home.
Whatever you decide to do, there are still benefits to both. Let’s look at some of the factors that could help you come to a decision more easily.
Keeping it, and loving it
If a revamp of the old place is what you really desire, especially for the extra space, then sticking with it and ‘loving it’ may be the best option for you. If your primary focus is an extension, ensure you evaluate whether or not the design of your home will allow for it, without having to spend major dollars. Your local council will have to approve the extensions as well – something else to consider that is often unrealised until it’s too late. This option is also great for minor refurbs like updating décor etc.
Always grab an opinion from interior design experts to ensure that this is truly a viable option in relation to what you want to achieve with your home. Getting your home valued will also help you keep your budget in check along the way. Figure out whether the added value is going to outweigh the expense before going ahead with anything.
Selling up – ‘listing it’
If the costs are going to exceed the benefits, you’re better off listing it. However you’ll need to be prepared to undergo the selling, and home buying process again.
Selling up is often a popular choice as it takes far less time to do so then to renovate your old property. It can take many months to even get started on extensive renovations, where as your house could be sold and be half-way through finding a new home in the same time period.
If you are contemplating this option, remember to consider the selling and moving costs carefully, along with a realistic evaluation of what your home is worth in the current market and condition.
If you really don’t feel the same love for your home as you once did, it’s almost always in your best interest to find a new one rather than throwing money at it in an attempt to make yourself happy again.