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Should I sell or renovate my home ?

Written by Cameron Holm on June 23rd, 2020.      1 comments

Of course, the answer depends on each person’s circumstances, so I can’t offer a one-size-fits-all response. But there are certain questions which may guide you through the decision making process. With these in mind, you’ll be able to draw up a list of basic pros and cons about whether to sell or renovate, before you seek expert advice. Read on!


How do you feel about your location?

 This is something that won’t change when you renovate, so think long and hard about your location. Is it convenient for your family in terms of school and work commutes? Does it meet your public transport needs? Don’t just think about the present, consider your future plans and what your family will be doing in 5 or even 10 years. It might be a good idea to speak to your local council, and find out if there are any major changes planned for the area in the future.
 

And convenience aside, do you like the neighbourhood? Is it safe? Do you like the community, the amenities, the local schools, the parks or the area in general? If you love it, this could be a good reason for renovating rather than selling. You might find that the price of buying a house in another good neighbourhood significantly exceeds your budget, as location is such a huge factor on the market.

  

Beautiful houseWhat's your best choice financially?

 

This is the most complex question you need to ask yourself, and it involves a number of considerations.

 

Moving house can involve several costs - refinancing fees, legal fees, your real estate agent’s commission and advertising fees, physical moving expenses, and of course the actual deposit on your new property. If you’re upgrading it could be an expensive endeavour all up. However, you also stand to make a profit if the market’s good and you’re moving somewhere cheaper. So you’ll need to calculate all of these sums and weigh up what you expect to make or lose.

Calculating the cost of renovating is more straight-forward, but you need to remember that renovations sometimes ‘blow-out’ in terms of both time and finances. They may take longer and cost more than you originally plan. It’s worth leaving a buffer for unexpected costs when you plan your budget. It’s also important to hire professionals who are dedicated to working within your budget and delivering results on time - at Create Renovations we pride ourselves on both.
  

Does your home have sentimental value?

 

If you’ve lived in your house for a long time it could have a great deal of emotional significance for you. This is not a factor to be dismissed or taken lightly. Can you fathom the thought of some other family living in your house? Keep in mind there’s always the possibility your home will face the wrecking ball once in someone else’s ownership, so you need to prepare yourself for the worst before you let go.

 

More importantly still, do you want your children to grow up in the same place you did? Many people opt for renovating because they want to keep their home for future generations. So if you want to make your home part of your ongoing legacy, this could be a powerful reason to stay and renovate instead of selling.

 


Does your home have good bones?

 

Not every house is a great candidate for full renovations. If the foundations are weak or your house has significant defects, you might want to consider selling instead. This is an evaluation best left to the professionals, so talk to us if you have any concerns about your foundations and your suitability as a candidate for home renovations.
 

 Family renovating


Do you have the patience for renovations?

 

Depending on the scale of your home renovations, you may find yourself living in a bit of a construction zone. Some people find this hard, especially if they have children. On the other hand, some careful planning and scheduling with your contractors can make this process less painful. Some families even enjoy the renovation process. If you love making decisions and unleashing your creativity, you could be in for a lot of fun.

 


Do you want a truly customised home?

 

Any home you simply purchase on the market has not been built with you and your family in mind. Many people choose to renovate because they want a house that truly fulfills their individual needs. When you renovate, you have the power to customise every aspect of your home, with your own future in mind. From spaces and skylights right down to decor and doorknobs, the possibilities and creative decisions are endless. The recent rise in trends like customised kitchen storage have proven that more and more people want unique homes that reflect their own personality and lifestyle. If this sounds like you, renovating is probably your best option.

 


IMG 1095-412-346Will your renovation plans be approved by the local council laws?

 

A final (and practical) consideration which is often overlooked. If you’re planning home renovations, recladding, refurbishments or house extensions you may require building consent. Applications can take some time so factor this into your preparation process.


We have plenty of experience in this area and can help you submit your plans to the council. Chat to us if you have any concerns.





With all of these questions in mind, hopefully you'll get a better idea of whether you want to sell or renovate. Of course, if you want some expert advice from Create Renovations we're just a phone call away. We're renovation experts and our qualified Auckland Builders and North Shore builders have a wealth of local knowledge and experience to draw on. We're always happy to chat so get in touch today!

 
 

1 Comments

Renovating in Auckland?

If you're an Auckland home owner there has never been a better time to start your Auckland Renovation than right now. Interest rates are low and land price is high.




Auckland Renovation For most Aucklanders, purchasing a brand new home is simply not an option due to the high prices currently seen in the Auckland property market .

As a result, more and more of us are visiting open homes and attending auctions for houses built anywhere from 1900 to the 1980's. The Auckland house my husband and I moved into three years ago hadn't been touched since 1970! We began our Auckland Renovation 5 years ago now and haven't looked back! 

This is the case for a lot of us Aucklander's.But that doesn't bother Kiwi's because we love to put our own stamp on our house anyway. So why pay above market prices for a beautifully renovated house, that somebody else loves? Why not renovate and have your house the way you want it?

Create Renovations, (North Shore builders and specialist Auckland renovations company )are finding more and more customers who loved their area but their house just wasn't working for them. So they went house hunting. But guess what? Unless they wanted to spend upward of a million dollars, they couldn't get the space or level of fixtures and fittings they wanted. So instead they renovated and haven't looked back. 
 

So what return will your Auckland Renovation give you in the market?


I have yet to see a case where our customers have been disappointed with their revalued property. But more importantly most people want to enjoy their home and after extending and renovating they will most likely stay there for 10 plus years. Historically Auckland's property market doubles every 10 or so years. So how can you lose!

For me personally I like to live in a beautiful Auckland renovation , somewhere that expresses my personality and responds to the way me and my family live. Renovating or building new is the only option for me. I can't help but want to start all over again even if the property is beautifully renovated! I'm sure I am not alone in this. 
 

But isn't renovating stressful?


Well maybe it is ..although as a wife of a North Shore builder I can't remember a time when we weren't renovating! However it may be stressful if you don't have the right team looking after you. Don't get me wrong, living in a building site is hard work but it is also exciting. Moving walls, changing kitchens, deciding on tiles, paint colours etc, it starts to become an obsession and its hard to stop.

Take the time to really think about what you like. Get our Auckland Renovation interior designer to help you get clear what colours and mood you want to create. Bounce ideas off friends and get lots of samples, you'll soon find the experience rewarding rather that stressful - and when its all finished you can show off your home and know that its perfect for your family! 
 

Have you got the Auckland renovation bug yet? Auckland is a wonderful place to live and a huge number of character homes are just waiting for your family to put your personal stamp on them. Get the trusted Auckland renovation team behind you and let's get cracking!

 
Initia Rall says ...
Thank you so much for this blog. It was an interesting read. We are sitting with the same question- move or renovate? We love the area we live in and would really like to stay here. We also need to get a bigger house because our beautiful home is just to small. I have asked around and it seems like most ppl are devided on the subject. We will definitely need more insight.