Shawn Bradley 
If you’re deciding whether to renovate your current home or move to a new one, there’s plenty to consider. Here are five factors to think about when making this choice.
Affordability
When you compare the costs of renovating and moving, one may be significantly more affordable, making this decision a bit easier.
Consider how both options fit into your budget. When you move, you’ll likely get a new mortgage and use the money from your home’s sale for the down payment. Other costs may include moving, closing costs, and repairs on the new home. If you’re renovating, you may need to explore other financing options, like tapping into savings, getting a personal loan, or borrowing against the cash value of your permanent life insurance policy, like universal life insurance or whole life insurance.
Your Dream Home and Neighborhood
Consider your long-term house goals and whether your current home meets your future needs. If you’ve found your forever home and love your neighborhood and community, renovating may be the best option. However, if you anticipate outgrowing your current home or career and want to relocate, checking out a list of homes for sale to navigate the best-fit options with a specific community that interests you may be more practical. With a new place, you get to enjoy a fresh start and get access to better opportunities.
Consider factors such as your family size, lifestyle preferences, and goals when making this decision.
Community
Moving to a new home often means leaving behind familiar surroundings, neighbors, and friends. Consider how you feel about leaving your current community and whether you’re ready to make a fresh start in a new location. It’s also wise to consult with party wall surveyors South London to ensure that any necessary agreements are in place if you’re making structural changes to your new property.
If you have strong emotional ties to your current community, renovating can let you stay connected while updating your home to better suit your needs. On the other hand, if you haven’t put down roots yet, moving may make sense—especially if you’re moving to be closer to family and friends.
Renovation Timelines
Consider the time and effort required for renovations and whether you’re prepared for that. A major remodel can take months and leave parts of your home inaccessible for a period. Kitchen and bathroom remodels can be particularly tough on families—you may need to temporarily relocate or adjust your routines to accommodate the construction process.
When figuring out how long renovations will take, consider the time needed to plan and execute renovations, and factor in a little extra for unexpected delays or issues.
Then, consider whether you’re willing to invest the time and energy required to renovate your current home or if you’d prefer to move to a new one.
The Work
Finally, consider what’s involved in moving versus a lengthy renovation. If you’re leaning towards moving, hiring a reliable Man and Van service can make the relocation process smoother by handling the logistics efficiently without breaking the bank.
Moving can be a hassle—you have to pack, coordinate logistics, unpack, and decorate. On the other hand, renovations can be disruptive in their own way—you may have to temporarily relocate or live in a construction zone for a while.
With both moving and renovating, the inconvenience will be temporary. Nevertheless, it can tip the scales in one direction.
The primary purpose of permanent life insurance is to provide a death benefit. Using permanent life insurance accumulated value to supplement retirement income will reduce the death benefit and may affect other aspects of the policy.
Source: iQuanti
