How to Choose between Selling and Renovation
Oct 15, 2018 Real Estate News
You bought your dream home when you were single five years ago. A 2BHK apartment seemed big enough for you then considering it was you to live. Later you got married a couple of years ago, and so you have a partner to share the apartment. Now you have a kid, and your parents, as well as your spouse’s parents, often visit you given that you have the kid they are attached to. Now it is time for renovation of the apartment so that you can increase the space. However, your wife is more interested in instead buying a bigger house instead after selling the present one. How to decide on that?
Here are a few points to consider before you make your decision.
Whatever choose should be feasible within your budget and should be of best interest of the family.
Here are a few points to consider before you make your decision.
Compare the price
Check the current value of your property and also the cost of the property that you are planning g to buy. Check the difference. Now, do the estimation of Renovation that you are thinking. So, you can now compare the price difference of Renovation and buying a new place. When yer talks about renovation estimation, consider the following:- Things that require renovation – flooring, paint, shifting walls to make more space in the living room.
- Criteria for repair – for the upgrade of living standard or necessity
- Amount of loan that you can afford for renovation or if you would spend money from your pocket
When you choose your neighbour over the luxury
When you spend quite a good amount of time in a house where you know everyone in the neighbourhood, it becomes difficult to move and adjust in a new area, locality and making new friends around you. Children specifically are reluctant to leave their friends in the society. In that case, renovation should be your option.Do not forget to add up miscellaneous costs
If you are renovating the property, you will have to choose the right products which never happen in one go. You need to pay contractors and also remember the maintenance after renovation. If you are buying and selling the properties, then a lot of factors will cost you such as agents fee, stamp duties, marketing and time investment.Whatever choose should be feasible within your budget and should be of best interest of the family.
Looking for property portal?
Related Articles
-
-
Real Estate Welcomes Budget 2019 with Open Arms
Feb 07, 2019 -
-
