When faced with the decision to renovate your existing property or sell and move somewhere new, finding the best strategy to suit your circumstances can boggle the brain.
So, let’s make it a little easier by considering the upsides and downsides.
RENOVATING
Super Size Me!
If you set a strict budget and stay on top of the work schedule, a well-managed renovation can add a bedroom or bathroom, convert a garage into a playroom or create an ultra-modern kitchen. And all this can be achieved for the cost or less of upsizing to a bigger house.
Miracle or Myth?
Renovating is more popular than ever, thanks to miracle makeovers where TV presenters build mansions using MDF and sticky tape.
In reality, some renovations can be messy, time-consuming and costly. And beware ‘overcapitalisation’ – this is when you spend more than you’ll ever get back in the property’s value. Best forget the marble-lined cloakroom!
Energy Boost
A refurbishment can include energy-saving upgrades, from installing new insulation or windows to fitting super-efficient appliances. And remember: a well-chosen, eco-aware fit-out can help increase the long-term value of your property.
SELLING
The Only Way is Up
With a requested a property valuation via s1homes, you could find out that the increased value of your current property may allow you to sell and upgrade . . . to an even more attractive property.
In this way, you can view selling as a stepping stone, not only to a better quality of life but also a long-term financial investment.
Money Matters
Upsizing to a family home, downsizing to a retirement flat, moving sideways to a new build . . . no matter your direction of travel, selling and buying still costs money.
As well as the mortgage payments, deposits and estate agent’s fees, there are associated bills, such as tax implications and legal costs to consider.
New Horizons
Selling means you have the freedom to move to a location you really love. Perhaps it’s closer to your workplace or further away, has access to great schools, is in the middle of beautiful countryside or in the beating heart of the big city.
Choosing a new property from s1homes can open up your horizons.
Whether you’re looking for inspiration to renovate or you’re keen to sell and buy somewhere new, s1homes has a treasure trove of properties across Scotland.