Why Many House Renovations Are Cheaper Than Selling Your Home And Buying Another
Many homeowners reach a point where they want extra space, a different layout to suit their family, or to accommodate new family members such as an aged parent moving in. There are many reasons wanting more or different space but whatever the cause this creates one of two choices; to move to a new home or to renovate their existing home.
There is no right or wrong answer but there are periods where people either prefer to renovate their existing house or sell their home and buy a new one. There are several reasons why renovating the home you already have is a much better investment than selling and buying another. Here are some key reasons why you might choose to renovate and some of the most cost-effective remodeling jobs you can do.
Selling A Home Is Expensive On Many Levels
With the high price of houses in Auckland these days, the costs of selling one and buying another has risen as well. According to REINZ, the median house price in Auckland is $850,000. For that you can expect to pay about $33,000 just for the real estate commission alone. Add to that mortgage costs, legal fees, valuations, LIM costs, removals, and you can be looking at $45,000 – all of which is dead money and doesn’t provide an asset value.
On top of that there is a huge amount of time spent going to open homes, the mental anguish of deciding which house you like, worrying about making an offer at the right price, and then having to do it all again when you miss out on your dream home – not to mention the laborious packing and moving process if you do end up selling.
There is a Better Way – Home Renovations in Coatesville
Instead of wasting your money on all those commissions and fees, plus all the wasted time in finding a house to move to, you can invest in your existing home by renovating it.
There are plenty of smaller renovations that you can do which can make a significant difference to your home, such as DIY-type projects ranging from decorating and landscaping, to new bathroom cabinets and these are well within the capability of a good handyman or a DIYer. However, they don’t make a significant difference to the overall usefulness or usage of space in your house. For this you will need to talk to a draughtsman or architect, and a local Coatesville renovation builder.
Why Go The House Renovation Route?
We have all heard horror stories of bad builders doing poor work, being well behind schedule or charging way over the original building quotation. But it’s important to remember that not all builders are like that. In fact, that type of builder is rare these days, so don’t be concerned about thinking of renovating your home. The chances are much higher that you will have a great result.
Which brings us back to the question, “Why go the renovation route?”
There are many reasons, but for some people, one of the key reasons is that you are not spending dead money. Everything you spend on renovating your home will be directly invested into he increased value of your property. From the cost of the draughtsman’s or architect’s plans, to getting Council consent, to the builder and materials, all of those are investments in your home.
Other Big Reasons To Choose Home Renovations
Many of the reasons to decide to hire a Coatesville house renovations builder are emotionally driven rather than a logical, numbers driven analysis. For example, lots of families simply love their home. A home often has strong family ties where the children were born and raised, it may be a dream location, or whatever the reasons, people just want to stay in their house. Yet they still want more space or to be able to utilise that space better. In this case, renovating your Coatesville home can make this work for you.
In the short-term there will be disruption, mess, and inconvenience. All building sites are like that. But as the saying goes, “You can’t make an omelette without breaking an egg.”
Finding a good school or even getting into the school zone of your choice can be prohibitively expensive. And while children might complain about going to school, if they are settled have good friends and are doing well, it can be a huge wrench for you and then children, to uproot them to move to a new school. This is one of the biggest reasons that people choose to stay in their current home and renovate it to meet their new needs instead of moving home.
How We Work As A Coatesville Home Renovations Builder
At Cain Built, we have worked with many families on home renovations in Coatesville. One of the first things we ask is what does a family want to achieve with a home renovation? Is it more space, better space, accommodating new family members, or simply making their home look more modern? Whatever the desire, we can help make it happen for you.
After our initial meeting and discussion, we can give you a ball-park estimate to see if it is within your budget before you commit too much in expense. After that we know numerous good draughtsman and architects who we can introduce to you who will extract your end goal, and convert that to working drawings for submission to the Council.
Once consent is given, we will firm up the pricing for you so you can talk to your bank about financing your home renovations build. We will also give you a building schedule so you can plan how you want to live while the renovations project is being carried out.
Some families are happy to live in the home among the building work while others move out to family or rent for the duration of the renovations, depending on the scale and duration of the project.
Cost is not always about money. Lots of families have strong ties to their existing home but still want to renovate it for more space or to modernise it. If you and your family are emotionally attached to where you currently live but want to get more utility from your home, please call us on 0800 224 628 or email at email@example.com, we’d be happy to talk to you about your options.