In life, it’s safe to say that we’re all going to move around quite a bit. Even if you try to avoid moving and you keep your moves to a minimum, there are going to be a range. You have your very first family home – the place (or places) that you grow up. You then may move to go to university, or you’ll move into your very first home with a partner or friend. You may stay there or you may move on to another home when you start your family. And then you may want to stay there or move again to your ‘forever home’. And it’s usually at this point that we all start considering whether to stay and improve the place we’re at, or to move on to somewhere new. But how do you know which decision is best for you? Let’s take a look.
The first thing that you need to bear in mind here, is the budget that you’re working with. Because if you have some money that you can put into renovations, why not do that? If you can afford the cost of an extension and you do love where you live, then this could be the perfect solution for you. But, on the flip side, if you don’t have the budget available but you can remortgage to get a new place, then that’s still another option for you.
But also, you’re going to want to be aware of what potential you have – in both cases. If you are looking to buy another place, be as objective as you can. As you’re working with professionals, such as Allcott Associates, be sure to factor in the potential of the home and any changes that you can make. At the same time, if you are considering staying where you are, make sure that you’re aware of any potential value that you can add to the home.
Also bear in mind any space issues that you have too. Because if you really don’t have any room where you are and there’s no potential to add on, then moving might be the only logical option you have!
Quality Of Life
At the same time, make sure that you go with the better option for your quality of life. If you know that this will improve if you move, then perhaps go with that option, rather than forcing yourself to stay where you are.
Finally, you may then find that the decision you make today should feed into the future goals that you have. If you know that you’re not in your forever home, but you may have a chance at moving closer to that today, then maybe moving is best? Or, if you know that deep down, you’re not there yet, and you’d like to save more, then maybe you can wait a year or so? Think about what’s best in the long term, and make your final decision based on that.