Why You Should Renovate Existing House Rather Than Buying A New One

Buying a new house is a daunting move, and it involves a lot of expenses and decisions about location, schools, mortgage and many others. For this reason, many homeowners choose to save up money and remodel their existing homes instead of buying a new house which can be expensive when compared to the renovation costs. Read more to find out why you should consider renovating your existing home instead of buying a new one.

1. It Is Your Home

Let’s be real here, the house becomes your home after a few years. Do you really think it will be easy to give up on a house filled with so many memories and happy moments? You are not just attached to your house emotionally, but you’ve grown comfortable around it too, and to develop the same comfort in a new house will take a lot of time and dedication.

Unless you are not completely ready for taking the commitment of making a home out of your new house, stay where you are and make your existing home an even better place.

2. You Have Renovation Budget

Buying a new house involves costs such as home insurance, mortgage payment, agent commission, closing costs and many others. To meet these expenses, you may require a loan and don’t forget the additional costs once you move into your home.

Why must you go through the hassle of being in debt upon entering your home? Instead, save your money each month until you have the required budget to remodel the current house and then just go for it.

3. Put in Your Personal Style

Choosing to renovate your present home gives you the chance to customize it according to your preference and style. You can give your home a fresh new theme and feel at a considerably lower cost compared to buying a new house, then transforming it into your style which could cause you a fortune.

You can check your new home for essential equipment online or in nearby stores to enhance the vibe of your home.

4. Minimize Your Moving Expenses

Remodeling your home saves, you from the countless costs of moving into a new house. You will be saving on the down payment, mortgage, insurance, real estate agent fees, repairs and maintenance and so many more expenses.

You can even save on labor costs by taking up the renovation project in your hands and having a fun do-it-yourself activity with the family.

5. Increase Your Property Value

Let us not ignore the inevitable, you will sell off your home at some point in your life. If you remodel your house and upgrade it with modern features, you are boosting the value of your property at the time of resale.

Renovations such as installing a solar panel on the roof, a new flooring, an automatic garage door, installing energy-efficient windows or upgrading your bathroom with modern facilities can build your property value by a great deal.

6. Feeling of Accomplishment

This is by far the best reason to carry out a home renovation project. The sense of accomplishment you get after successfully finishing all the upgrades of your home and making it look as good as a new house, if possible, even better. Not only will you enjoy the process of the remodeling, but your home will also become a much more desirable place to stay in for the years to come.

Buying a new house can be exciting, but it is also expensive. Whereas, renovating is a lot more affordable and cheaper. Remodeling the existing home and turning it into a more modern, more desirable place is even more compelling than purchasing a new one. Next time you hear someone being confused about whether to renovate their home or buy a new house just mention the above reasons and convince them to stay where they are.

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