Simple items such as clothes, furniture, and appliances can be quickly updated whenever the old ones becomes uninteresting. Even cars can be replaced fairly comfortably. However, what happens if it’s your house that has become dull and boring? What happens when you become uncomfortable with the old floor plan or design of the house?
There are essentially two viable options. You can either renovate the home to fit your new lifestyle and needs or, move out of the old home, build a new one, and start afresh. So, which is the better option?
Unfortunately, there is no one right choice. It all depends on what you want and your budget. Here are the advantages and disadvantages of each option to help you make an informed decision;
Advantages of Home Renovation
- Get the updates/upgrades you need with minimal effort: If your home is still in perfect shape structurally and all you’re interested in are updates, then home renovation is probably more than sufficient.
- You don’t need a big budget: The costs of renovations vary from one project to another and also from region to region. But, they are still often lower compared to building a new home.
- You can update one area at a time: You don’t have to perform all updates at once. If you don’t have the budget, you can perform the updates and make the additions one at a time.
Drawbacks of Home Renovation
- Potential disruptions: In the case of major renovations, you and your family may be forced to seek temporary accommodation elsewhere until the project is completed. This often creates chaos.
- Renovations rarely fix deep lying issues: Issues such as an old home crumbling at the foundation cannot be fixed with home renovation. No matter how many times you renovate, the issue will remain.
Advantages of Building New
- Address all your issues once-and-for-all: This mostly applies if your home has structural weaknesses that need addressing. A new, custom built home will be free of those old issues.
- Start over: Whether you decide to rip up the old home and build a new one in the same spot or sell the old home and build a new one in a new location, a new, custom built home gives you a fresh start.
- Upgrade to modern: If your current home is old and out of date, a new, custom built home gives you the chance to update to modern architectural styles.
Drawbacks of Building New
- Mortgage restrictions: If your intention is to rip apart the old home and erect a new one in the same spot, you may be surprised to learn that some mortgages don’t allow this.
- Time and cost intensive: Building a new home takes a lot of time and can require a significant investment. Are you prepared to wait, and do you have the budget?
Get Professional Advice
Fortunately, you don’t have to endure sleepless nights over making a choice. Call Alair Homes, and let our professionals help you by providing the information you need to make the right choice for your family.