Should I Renovate Or Move?
Should I Renovate or Move?
Deciding whether to renovate or move is a big decision with high financial and emotional costs. It’s important to consider all factors involved in each, and come to a well thought out decision that is best for you.
Advantages of Renovating
At Sosna, we speak with prospective clients who approach us after making the decision to renovate their home, rather than move.
The following are the 3 most common reasons a client chooses to renovate, rather than move:
- They love their neighbourhood. They may live near a great school for their kids, the commute to work is easy, or they have a fantastic backyard. In cases like this, the area they live in is ideal.
- They may have grown up in the area, and have an emotional attachment.
- It’s conveniently close to friends and loved ones.
Evaluate the Reasons for the Change
The following are the most common reasons people decide they need a change and debate the decision whether they should renovate or move.
Financial Implications
Emotional Attachment
Space Requirements
Location
Market Conditions
Future Plans
Time & Inconvenience
At Sosna, we specialize with clients who have made the decision to renovate their home, rather than move. The following are the most common reasons they decided to renovate:
- They are embarrassed to invite people over
- Some clients are embarrassed by guests seeing areas of their home that are dated, in poor condition, or cluttered.
- They lack privacy
- As children get older, they need their own personal space, and the home lacks the room to make it possible.
- They feel cramped
- For those who love to entertain, or have large families feel that there is not enough space for gathering.
- Many older homes lack suitable storage space for belongings, making the space feel cluttered and cramped.
- Growing families, or those with a loved one moving in may need more space to accommodate them.
- They feel isolated from the rest of the family
- Many clients come to us to create a more open concept space. Most older homes were built with walls separating each room, making the family feel isolated from each other.
- When entertaining, an open concept Kitchen and Family Room would allow the host to participate in guest conversations.
- They have safety hazards
- A common factor in choosing to renovate is when there is a fear of injury, or for the health of those living in the home.
- Common safety hazards include mold, outdated or not to code electrical or plumbing.
- Many clients love their home, but are retired, and looking toward the future, and aging in place. The home may require updated safety measures such as shower seating, or hold bars in the Bathroom, and updated space that is easier to navigate in old age.
- They worry about the well-being of their loved ones
- Parents may want to renovate the home as an investment for their children to inherit in the future.
- It could be an assurance that their children are able to own a home in the future.
Click below to download our helpful PDF Checklist that you and your family can use to go over factors to consider when deciding between renovating your home or moving to a new one. If you decide renovating is the best option, you may be a right fit for Sosna.
After determining why the home is not working for you, it’s important to know what changes you want to make. It’s important to discuss the changes you want to make with your contractor, to determine whether they are reasonable and/or feasible.
At Sosna, our designers work closely with our clients to get to know them and why their home is not working for them. Our designers then discuss and prepare drawings for solutions to ensure the end result is a home that will optimize function and aesthetic personalized to the client’s wants and needs.
After knowing why your home is not working for you, and what needs to be done to meet your wants and needs, it’s important to determine your budget. To learn more on this, check out our blog, Budget First, Then Design.
Renovations are costly and stressful. Common concerns associated with many people considering renovating include the following:
- Concern that the contractor will abandon the project after taking their money
- The project will not be made a priority.
- Concern that the final result will be different from what they have envisioned and that they may be disappointed in the end.
- The project taking longer than anticipated or promised
- Surprises during the renovation.
- Cost of the renovation growing and costing more than expected.
- Quality of the work, and issues arising a few years after the renovation.
- Dust, mess, and noise disrupting themselves and their neighbours.
- Strangers being in their home during renovations.
It’s important to proactively identify any and all concerns you have with regards to renovating your home. Having a contractor and their team into your life and home is a big commitment.
At Sosna, we find it essential to discuss these concerns with our prospective clients so we can determine whether Sosna is the best fit for their needs. With your contractor being aware of your concerns, they can discuss ways with you to mitigate them, set expectations, and have the project planning and execution run as smoothly as possible.
Moving to a new home can arise out of life changes. The physical move can feel like a fresh, clean slate, with a new neighbourhood where you have the benefit of discovering new surroundings, and meeting new people.
The first home you purchase is often a starter home that while suitable for someone just starting out, may not be suitable long term due to lifestyle changes, or growing families.
A larger home in a neighbourhood close to good schools, or a new job may be necessary.
Packing up your belongings, and moving to a new home can be much quicker and simpler than renovating. Renovations are stressful for many reasons, including:
- Living Disruptions – During renovations, some or all of the home may be unusable while under construction.
- Finding a reliable contractor – It can be difficult to decide on a contractor to perform quality work on time and on budget.
- Dust and Noise – Feeling like you’re living in a construction zone can be frustrating and stressful.
- Decision Fatigue – The number of decisions that need to be made during a renovation can be exhausting and stressful.
- Storage Issues – Finding storage solutions for your belongings during a renovation can be stressful and frustrating.
- Relationship Strains – Disagreements and decision making stress and budgeting can have a negative effect on relationships. Living in either the home that is being renovated, or a temporary space, where you have less personal space can also be cause for high tension in relationships.
Before looking at potential homes, it will be important to create a checklist including:
- Desired Features in the new home
- Location with reasonable travel to work and/or school
- Nearby amenities important for your lifestyle
In addition to looking at your priorities and needs it is equally as important to consider potential challenges, including:
- Financial considerations, including buying, selling, fees, and closing costs
- The emotional attachment to the current home
- Potential difficulties in finding a home that meets the requirements of your family
Choosing between renovating and moving is a deeply personal decision.
It’s essential to weigh the financial, emotional, and long-term implications of both options. Sometimes, even after all the analyses, it comes down to what feels right for you and your family.
At Sosna, we specialize in providing our clients with a forever home that meets their tastes, needs, and lifestyle. It’s important to us to provide our clients with a space that is uniquely theirs.
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!
