TRC Contracts

Is Renovating Your Older House a Better Idea than Selling?

Keywords: renovating, restorations, repairs, refurbishments

Meta Desc: Are you wondering if you should be renovating instead of selling? Here’s some food for thought:

A lot of people opt to move to a new house when they feel like they’ve outgrown the old one. Maybe they’ve outgrown it in size. Or perhaps they feel that it’s time to move up to a nicer house. But more than ever, people often choose to renovate rather than sell. There are a lot of good reasons for this.

Older Houses Have Character

Many people who buy a newer home complain. It looks like every other house in that neighbourhood. It feels ‘cheap’ (but wasn’t cheap to buy!). If you appreciate the unique characteristics of older homes, you might want to consider doing some renovations, refurbishments, and repairs instead of selling up and moving somewhere else.

Larger and Better Properties

In many cases, older homes are going to have many more features than a newer home. They often have mature treed lots and the size of the property is often quite a bit bigger, too. Many new homes are on postage stamp sized lots without much room to enjoy your grounds. And inside, older homes tend to have larger rooms, more storage, higher ceilings, and much nicer and larger windows.

The Housing Market is Volatile

The housing market is unpredictable. It’s not always easy to sell a house. You might not get the right value for it today. It might be better for your finances to fix it up and hang onto it for a while longer. It’s often cheaper to do renovating and repairs now and then benefit from them later when the value of your home will increase. Not only will it increase when the real estate market improves but those improvements you’ve made that make your home more liveable will also make it more appealing and valuable if and when you do decide to sell.

You Love Your Neighbourhood

It’s not always easy to uproot your life. Renovating your home to make it more liveable could make good sense for you in terms of travel to work and school and in terms of your neighbours and other local amenities. Starting fresh might sound good, in theory, to some but it’s not always what all people want. Some think it’s easier than renovating but the right renovation company can do the upgrades, fixes, and repairs on a tight schedule and in a way that makes it as easy as possible for you to get through the renovation period.

Why Not Investigate Renovating?

Why not consider looking into finding out what can be done to make you happier in the home you already live in? It couldn’t hurt to consider your options. Have an assessment done on your home to see how much it’s worth right now. Compare that against what you owe and what you can afford in terms of moving. Factor in that if you did sell, you’d likely get less than asking on your home offer. Consider making a list of the things you’d like to have repaired or changed in your home and speak to a company or two who can quote you. With all the information at your fingertips, you’ll be able to make an informed decision that’s right for you, your family, and your finances.