Family situations are dynamic. Additions to the family, or a new hobby, may mean that you need to upgrade your home. This prompts the question – should you move or renovate?
With Purchasing a new home, you will firstly need to sell yours which could take up to serval month depending on the market at that time, plus also pay the real estate their commission. When it comes to a new home, it could set you back another couple hundred thousands, or a full amount depending on the sale of your last property. On top of all that you will need a deposit, stamp duty, and insurance protection for the Banks! (LMI)
With Renovations. The cost of All of the above doesn’t come into the picture, all you have are the costs relating to adding an extension or a new kitchen bench. Depending On The Renovation Your Looking For.
So it current market Conditions, you have a couple of choices, sell and move at a loss, or renovate and generate more value for your home. Living and $$$