After a few years of living in their home, many people reach a stage where their living space is no longer working for them. Maybe your family has grown since you first moved in, or perhaps the layout no longer works for you. Living in a home that has stopped meeting your needs can make life a lot more stressful than it needs to be. Whether you lack space and clutter is driving you crazy, or you have a baby on the way and need an extra bedroom, you may find yourself seriously considering putting your home up for sale and buying a bigger property. Before you call the realtor, you may want to pause for a second and consider improving your existing home instead. Here are some of the reasons why you should improve rather than move:
Moving House is Stressful
When it comes to stressful life events, buying and selling houses is right up near the top of the list. Figuring out your finances and calculating how much you can afford in a new home is the first stressful part of the process. Secondly, having strangers in your home and feeling under pressure to keep it super tidy for when potential buyers look around can be a real pain.
Buying and Selling Homes is Time-Consuming
In the time that it takes you to sell your home and purchase a new one, you may have already remodeled your existing home to make it perfectly suit your needs. Selling your home puts life on hold while you wait for the process to happen, which can feel incredibly frustrating, especially if it takes a long time to find a buyer.
Your Move Will Cost a Significant Amount of Money
There is no doubt that moving house is hugely expensive. Spending money on a single-story extension to improve your existing home often makes more financial sense than moving to a larger home. The cost of a bigger home is likely to add a substantial amount to your monthly outgoings, without taking into account the costs involved in moving home. Real estate broker fees, movers fees, legal fees, title search, a recording fee, plus property tax can all add up to a significant sum of money. When you calculate these fees plus the cost of buying a larger home, remodeling your home to make it perfect will seem like the most attractive option.
The Moving Process if Filled With Challenges
The moving process is rarely straightforward. Even a simple move creates a lot of disruption in your life as you will need to pack up your entire house and update your address details with the relevant agencies and companies. If you have kids, you will also need to find new schools for them to attend.
When your home no longer suits your life, moving house may be the obvious choice, but remodeling your existing home can create the space that you crave without the hassle and costs involved in buying a larger property.