Should I Renovate Or Move?

Determine What You Want to Change 

Figuring out exactly what about your home is not working for you is the best place to start. Look through some interior design magazines and check out before and after pictures from our former projects. Once you have some ideas to start from, discuss your changes with your contractor to determine whether they are reasonable and/or feasible. 

Our designers here at Sosna work closely with our clients so we can get to know them. We discuss the client’s needs and prepare drawings for them to review before we start the project. The end result is a home with optimized function and aesthetics personalized to the client’s wants and needs. 

Consider Your Financial Situation 

After getting an idea of what you want to change in your home, we can start determining the budget necessary for the work. To get more of an idea of what to expect, check out our blog Budget First, Then Design. 

Identify Concerns and Potential Challenges

Renovations are costly and do have to potential to cause stress. Common concerns involve: 

• The project will not be treated as a priority by the designers or contractors 
• The contractor will take the money and disappear, abandoning the project 
• The final results won’t match what they envisioned, leaving them disappointed despite the outlay of money 
• The project hits a lot of delays or issues, leading to it taking longer than anticipated or promised 
• The chance of dealing with surprises discovered during the renovation that increases the cost of the project 
• Growing and changing costs for the renovation 
• Disruptions from dust, mess, and noise that bothers them and their neighbours 
• Low quality work or issues that arise from the renovation a few years down the road 
•  Letting strangers in their home during the renovations. 

Proactively identifying your concerns with regard to the renovation is the best way to address them. Having a contractor you can trust will reduce your stress about engaging in this process. At Sosna, we discuss all concerns with our prospective clients before beginning the project. We want to check that we’re the best fit for your needs and can help you achieve your goals. 

Moving to a New Home 

While there are many reasons to choose a renovation, sometimes moving is still the best choice. However, don’t underestimate the costs and effort required for this choice. 

Advantages of Moving 

Access To A Fresh Start And New Surroundings 

Moving to a new home usually occurs because of big life changes. Making a physical move can give you a fresh, clean start with a new neighbourhood and exciting surroundings. 

Opportunity to Upgrade To a Larger Or More Suitable Home 

If you’re still living in your starter home, your growing family may leave you feeling cramped in the current space. A new home gives you a chance to find a place that better fits your lifestyle. This same is also true during the empty nester stage when you need to consider shrinking down to a smaller place. 

Avoiding the Issues That Can Come with Renovations 

While renovating is recommended as a way to stay in your home and avoid the hassles of moving, it still comes with some headaches of your own. Depending on the amount of work your home needs, there’s a chance that packing up and moving will be simpler. Issues that might arise during a renovation include: 

• Trouble finding a reliable contractor 
• Extra work managing multiple contractors 
• Dealing with dust, noise, and daily interruptions 
• Moving out temporarily for demolition and installation work
• Storage solutions for your belongings during the project 
• Strain on your family relationships 
• Staying on time and under budget. 

If you notice, many of these issues can occur during the process of moving to a new home as well. Unfortunately, you’re going to have to deal with a small amount of stress no matter which choice you go with. Staying in an undersized or outdated home without moving or working on it will also leave you feeling stressed, so the only thing to do is move forward one way or another. 

Identifying Potential New Homes 

Before deciding that you’re set on moving rather than renovating, check out the market in your area. In Toronto, there has been a seller’s market for the last few years due to low inventory levels and high demand. You may find there are few to no good homes available in your budget or in the areas you want to live in. A renovation is always available even if the housing market is tight. 

Weighing The Potential Challenges 

In addition to looking at your desires for a new home, you need to consider the challenges of moving. 

1. Moving costs a lot of money-you’ll have to cover any difference between your current home’s sale value and the new home’s purchase price, not to mention fees for buying, selling, and closing 
2. You have an emotional attachment to your current home-will a new home feel the same to you? 
3. Potential difficulties in finding a new home that fits your needs-even if you see a few good options on the market now, they may not be available by the time you’re ready to buy. 

How to Make a Final Decision 

Choosing between renovating and moving is a deeply personal decision. Sometimes, even after all the analyses, it comes down to what feels right for you and your family. 

Seek Professional Advice 

At Sosna, we specialize in helping our clients create the forever homes that meet their needs, tastes, and lifestyles. If you’re ready to renovate, contact us for a consultation. We’d love to speak with you to see if Sosna is the right fit for you and your family!