Renovation or Relocation?

Introduction

Whether you need more space, want a more eco-friendly home or just need a few more mod-cons. Most homeowners have puzzled over the tricky conundrum of Relocation versus Renovation.

Its not a straightforward puzzle to solve especially as each individual’s situation tends to have unique issues, but here are the basics you should consider when thinking about whether to Love it or List it!

Wants & needs

The first thing to do is create a list of all the extras you need to achieve and all the extras you'd like to achieve.

Now, if its impossible for you to achieve your 'MUST HAVES' at your existing property, for example, you don't live in the catchment for the schools you'd prefer your children to attend, then obviously, only a move will be the solution.

However, with clever design, a renovation of your existing home may help you achieve, not only your 'MUST HAVES', but your 'WISH LIST' too.

There are so many different ways to get everything you need, such as reconfiguring your existing space, converting unused spaces such as a loft or a garage, extending your home whether out or up, adding a new feature such as a kitchen or bathroom, retrofitting money saving eco features, adding a conservatory or garden room, the list goes on...

Must haves

• Extra bedroom for new baby
• Utility room
• Off-road parking
• Built in storage
• Downstairs loo
• In school catchment area
• Lower bills

Wish list

• Separate playroom
• Walk in larder/ pantry
• Double garage
• Garden room
• En suite bathroom
• Walking distance of park
• Zero emission home

What's the cost?

In both cases, moving house and upgrading your existing home to suit your needs will incur costs, and either could come out as the most economic option depending on individual circumstances. So, before making a decision one way or the other, its vital that you consider all the costs involved.

Moving cost

Moving to a bigger house is naturally more expensive, so is moving into a popular area. These are the headline costs that you have probably already thought of.

Other costs to bear in mind when moving are:

• Arrangement fees
• Valuation fees
• Survey fees
• Stamp duty
• Conveyancing fee
• Land registry fee
• Moving fees

& costs that are often forgotten:

• Preparing your house to sell: cleaning or redecorating
• Preparing your new home to live in: cleaning or refurb
• Time spent showing your home and viewing new homes

Staying put

Renovating your home also has obvious costs i.e. the actual build or reconfiguration too, but other costs that are sometimes missed could include:

• Architects/design fees
• Structural engineers' fees
• Planning application fees
• Building regulations fees
• Property rental if moving out while build takes place
• Storage fees if furniture etc can't be stored on site

It is worth spending time evaluating your costs and weighing up the outcomes of a move vs. renovation. Often your ideal home can be designed and built as a renovation project, but it can sometimes be difficult to find that ideal home ready to buy – a move to a new home could still mean building or renovation work once you’ve moved in!

We can help

Doing it all – further consideration should be given to the cost-effectiveness of improving your existing home in order to up its value so that you can then look at moving with a bigger budget!

If you’re considering giving your home a makeover then we can help! Studio Arkell are offering a 1 hour free design consultation special offer to homeowners within a 15 mile radius of Christchurch, Dorset. Call or email now to book an appointment.

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