You need a change, You have looked around to see what is available on the market but when you really think about it, you are not sure if its better to get a new home of simply renovate the one you have now. I would definitely consider listing the pros and cons of both scenarios.
First, jot down what you really love about your house. Second, make a list of what should be fixed in your current home. What is missing in your house to be the perfect house or that you would love to find in another house: Do you need an extra room, more square footage, a new kitchen or upgraded bathroom?
If you require more square footage, you can work within the existing footprint to create more enjoyable space by knocking down or adding walls or finishing a basement or attic. If you want to add extra square footage by adding on top of a garage or on the side of the house make sure your lot is big enough by checking with your city. They will give you all the rules and regulations.
Plus, you have to think, when you do major renovations, were you will live during those months: in your house or you will need to relocate. Other expense to take in consideration in your budget!
If your current house is well located, adding square footage will surely add value to your property. But think twice… It might or might not be worth it. I would recommend to look at what is available on the market. You might find a new home that has all it takes for you to be happy and has enough space to meet with your requirements.
Sometimes it is as simple as it being time to leave the place you have spent many years in. Energy can be renewed and family spirits lifted by a change of view, location and lifestyle possibilities. If you are feeling that it is the right time to move on, this may be the top motivating factor that leads you to move on.
# 9 smart steps if you’re moving and/or renovating:
- Get pre-approved for a mortgage.
- Start house-hunting six months before you want to move.
- Figure out your moving, real estate, legal and land transfer costs.
- Factor in additional costs for possible home repairs or renovations.
- Get quotations and references from several contractors.
- Ask contractors if they will allow you to live on-site during construction.
- If you have to move out, factor relocation costs into your budget.
- Add a contingency fund of at least 25% to any renovation budget.
- Plan for delays.
I found this on internet that can help you with your decision. Remodel or move calculator: remodel-or-move-calculator