Move, Redesign or Renovate?

You’ve been in your home a few years and it’s been doing the job well enough. But maybe you need more space, or you’d prefer a new look. What do you do, move, redesign or renovate?

The decision to move – or stay put and renovate – is often made as much with our hearts as with our heads. Moving to a new home can be an expensive process but a change of scenery can be revitalising. On the other hand, if your heart’s not really pushing you to pull stumps, it can pay to stay and fix the place up.

The important thing is to put your lifestyle on top of the list. You could find that upgrading to a new home better suited to your needs is a more viable long term option with none of the hassles of redesigning or renovating.

Selling your home and buying a new place is a major step, and you should go in with your eyes wide open. To help you make the right choice, we look at five benefits of moving.

1. Relocating offers a fresh start.

It’s a buzz that’s hard to beat – starting afresh in a new home with the chance to explore a different community and expand your social network with new friends.

2. Moving lets you shrug off old habits and worn routines. 

There may be no better way to give yourself a clean slate than by moving to a new home. Yes, it means buckling up and tackling the process of sorting out years of accumulated “stuff.” But working out what’s needed – and unneeded – in your new home will declutter your life.

3. It’s easy. 

Some home owners find renovating is a bit like root canal therapy. The discomfort can be overwhelming. Even if you manage to find a budget-friendly architect, a reputable builder and reliable tradies, redesigning your home inevitably means facing the high-pitched whine of electric grinders, drills and saws – all before you’ve had your morning coffee. Checking out Open Home inspections is going to cost you a few Saturday mornings but it’s a breeze in comparison.

4. You have a firm idea of the cost. 

Sure, moving to a new home brings a range of costs including stamp duty, removalist fees, legal fees and agent’s selling commission on your old home. At least you know what you’ll be up for.

When it comes to renovating, those inevitable “looks like this will cost a bit more” meetings with the builder can quickly turn a manageable budget into a fiscal wasteland where you are left scrambling for cash.

5. Become a tighter family. 

That period while we’re establishing friendships and getting to know the ins and outs of our new home, often sees us turn to family as a trusted pillar of support. Moving could strengthen your family ties and help create new memories and traditions for the future.

Moving to a new home loan also provides a fresh start. It’s a chance to secure a better rate, enjoy improved loan features and relish the personal attention of a lender who sees you as much more than just another customer.