Choosing Between Relocating and Removing – Which Is the Better Option for Homeowners?
The desire to own a home is deep-rooted among people globally. A large percentage of Canadians own a home. At some point of their life many choose to sell their property and use the profit to purchase a new home. They either want to upsize or downsize their home due to the changes in circumstances. Why is that?
- A house which once seemed perfect for a couple starts feeling cluttered and too noisy after kids comes into the picture.
- Some decide to move into a smaller space after their kids move out since they find sudden still silence uncomfortable.
Current scenario in the real estate world:
Times have changed now and there is a dip in the real-estate market. Earlier real estate was booming and it was easier to put up your old property for sale and reap a considerable profit. The slump in the housing prices has got people apprehensive about relocating because of the financial demands causing some to lean towards remodeling.
Pros of remodeling your home:
Cheaper: When you consider the rate per square feet, the cost involved in renovating is less when compared to moving to a new place. If you choose reliable home renovation North York services like Cedar Hills Contracting, you can make smart changes to your home at competitive pricing. They are a top choice among home-owners in North York and offer top-notch service.
Customize the place to suit your exact requirements: Purchasing a previously designed home can’t guarantee all your preferences are met. With remodeling you can change your space into exactly how you want it.
Stable environment: You don’t have to change schools; you can shop at the same stores and meet up with your friendly neighbors.
Construction hassles: It can get be quite overwhelming handling budgets, contractors, production delays and living in the construction zone for months.
Surprise expenses: It is fairly common to run into unexpected expenses due to issues like adding gas lines and moving plumbing.
Pros of relocating:
A fresh start: It is ideal if you feel like you want a change from the current neighborhood or want to build a new type of life.
Fewer hassles when it comes to handling finances: You don’t have to break your head over every minute detail. Your real estate agent will guide you through the process.
High transaction costs: There are commissions to be paid to agents, appraisal expenses, title insurance, legal fees and title search fees.
Time-consuming and stressful: Finding a new home, planning the finances, sealing the deal and selling your current home can be quiet challenging.
The question hovering in the minds of many homeowners is – ‘Should I move out?’ or ‘Should I renovate my property instead to suit my needs?’ The answer comes down to cost and convenience. If you want to downsize your space, relocating is an impractical option and you could rather relocate.
If you want to upsize and worried about the financial returns, remodeling is the best option. Though it may not feel as exciting as relocating, it will help you save more. Professional home renovation services help to transform your existing home to suit your current requirements.