We all have different reasons to move house; far from loud neighbours or closer to work etc. In the current market, selling and moving isn’t as cheap and easy as it once was, and the Brexit vote certainly hasn’t helped in terms of enhancing your selling price. So, is it better to simply stick with what you’ve got, and perhaps look at home improvements? It won’t be the case for everyone, so it’s best to weigh up all the factors involved – the good, the bad, and the ugly. We nearly moved couple of months ago, and calculating the price of new upfront rent plus deposit, close to town in Manchester was just simple out of question for us! Plus, you know I love my little apartment after all the changes I did here, sigh..!
For home improvers/homeowners
The good: There isn’t really a better way to put your own stamp on a place than by renovating it to suit your vision of the ideal home. You’ll already be very much in tune with what’s there, what you have to work with, and you should have a clear idea of what is feasible and what isn’t. Perhaps, you already read my blog ha! and know what you can do to make it better!
If space is the issue, and you’re looking to erect extensions, the good news is that rules for planning permission have been significantly relaxed since regulations launched by the coalition government in 2012. Perhaps, is the money issue now? It’s also worth remembering that the money spent on such home improvements will almost certainly add value to your home, and, if financed astutely, should mean the value added exceeds the outlay itself. I know that my landlord only benefit of having us. I am one bad ass tenant who really care and only add value to this property. Improvements in my opinion, is always the winning side!
The bad: Sadly, there is only so much you can do. It’s a case of knowing your limitations, and deciding if you can work within them or not. If you rent, you know your limitations are the highest but you homeowner, again working with old property perhaps is not on your good side either.
The ugly: Well, literally. Very few renovations and home improvements don’t cause mess and upheaval. It could mean dust, noise and chaos for a few months. Is it something you’re okay to put up with? Sometimes it can even take more than few months, I watch regularly programs where people out of options call for TV to help them out but not everyone is lucky to get this sort of help! You perhaps know the scenario too? I often chat to people or in work sometimes come to rescue what previously been done bad, and believe me it’s always worse to try to repair based on someones mistakes!
The good: Well, they say there’s nothing like the new car smell, but how about the new home smell? Aside from having a shiny new pad, the great thing here is, that you will also have much more flexibility in terms of getting exactly what you want, rather than trying to mould and tweak an existing structure.
And, as an added bonus, finding something with a layout which fits the bill means you may not have to go through the hassle (and cost) of having to make improvements.I personally love fresh new canvas to work with. One of the reasons why I become an interior designer. Most places you will be rather prepared for new tenants/homeowner to move in.
The bad: Let’s be honest, you’d be pretty lucky to find somewhere within your budget that requires zero work or renovation, and still matches your idea of a dream home. Whether it’s a lick of paint or putting in a new kitchen, chances are that moving doesn’t mean that you’re at the end of the road.
The ugly: The costs of moving – don’t get me started! Estate agency fees, solicitor’s fees, removal vans – it’s a black hole of money which runs into the thousands, and, unlike home improvements, doesn’t go towards adding value to your property either. I’ve been there and done that!
And then there is Brexit. The upside is that the likely cut to rates will make mortgages even cheaper. Yet it is likely to wreak havoc with house prices, and could see you on the losing end as you try to sell up.
Making your decision
Each individual situation is very different, so there is no one-size-fits-all recommendation. However, before putting the ‘for sale’ sign up (or bringing in the builders), it’s best to have an honest assessment of your situation. How much money do you have available to spend? What exactly is it that you’re looking for in a home, and to what extent are you limited within your existing property?
If you’re still stuck, don’t be shy to get as many quotes as you can from experts. And do your research on places you might like to move into as well. Once you’ve gathered as much information as you can, you should be well placed to make a decision that works for you. Also, don’t forget us interior designers. With our good relationships with builders and contractors plus our trade discounts we can really help. I can tell you little secret, what you would buy from store I can assure you, I can get that at much cheaper to save you some pennies whether you decide to move and start fresh or renovate. Either way, i am here to help! I am currently working on my Hire Me page, so watch this space!