There comes a time when most couples reach a crossroads, and they have to decide whether to stay put or move to pastures new. Often, the decision is based on welcoming new additions to the family or craving more space. If your family is growing, you may be toying with the idea of relocating, but is moving to a new home the only option?
If you love your current home, it can be heartbreaking to imagine packing up your stuff and moving on. For some families, there’s no option but to move when everybody’s falling over each other, and there’s a queue for the bathroom every morning. However, in some cases, it may be possible to stay put and find alternative solutions to a lack of space. If you have a loft or basement ripe for conversion or you have a large backyard, for example, doing work to your house may add value and give you the extra space you long for at home.
Renovations of any kind require careful planning, especially when it comes to your finances, so get some quotes before you make a decision. It’s a good idea to have an accurate impression of how much the work will cost and also how much value it’s likely to add. Often, spending money can increase the sale price significantly provided that you stick to a budget and you take on projects that will make your home more appealing to potential buyers. If you don’t have savings lying around, there are options you could consider including taking out a loan or finding out more about what you have to do in order to get cash advanced to bridge a cash flow gap. If you are borrowing money, do your research first, make sure you can afford the repayments and use a reputable lender. It’s worth getting a series of quotes, rather than going with the first building firm. You can compare prices and get different ideas before you make a decision.
If you’re not emotionally attached to your home, you’d like a new challenge, or you’re desperate to buy a different style of property, moving may make sense. Take a look at your accounts, get some advice from mortgage brokers and set a budget. Once you’ve chosen a location and you have a maximum budget in mind, you can start your search. Get in touch with real estate agents, make some appointments, and have a look around. It’s a good idea to go into a property search with a list of priorities and must-have features, as this will help you narrow down the options. If you do find properties you love, don’t rush into making an offer. Organize a second and third viewing, and see how you feel about the house and how it would suit your family and your lifestyle. It’s impossible to take everything in on the first tour, so don’t be afraid to book as many viewings as you need to make your decision.
Do you need more space at home? Are you desperate to move or do you love your home? If you’ve got a growing family, weigh up your options, consider the pros and cons, and make a decision based on what you need and what you want to achieve. Good luck!