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10 BEST REASONS TO RENOVATE OR RELOCATE, UPSIZE OR DOWNSIZE

BTo make the best remodel or move decision, it is important to understand all the reasons that you have to remodel and all the reasons that you have to move. This article reviews common reasons to move. As you read each of these reasons, consider how much it applies to you and note how strongly you feel about each one.

1. The size of your family has changed. Of the many reasons to move, the size of your current home is the most common. Many young couples have purchased a cozy two- or three-bedroom, 1,000-square foot townhouse, detached, semi- detached home that suits their situation perfectly. The home has a master bedroom, a guest bedroom, and possibly a home office. A single living area with couches and an entertainment center provides the couple with ample space for the two of them and their visitors. As they start a family, the first child moves into the guest bedroom and toys take over the living area. As kids grow up the boy and the girl each want their privacy, hence their own bedroom. The perfect house for two becomes too small for three or more.

2. You do not like remodeling. Remodeling is not for everyone. No matter how it is accomplished, two things are unavoidable: the inconvenience and the decision-making. The inconvenience can be as little as not using your kitchen for a day while it is being painted or as much as moving out for six months while some major work is done. For some, any inconvenience is too much, so a move may be the way to go.

3. Your commute to and from work is too long. A common reason to move is the change of a job. Be it out of state/province or in another community, most people will only commute so far. Relocating close to your employer saves wasted commuting time which leaves more quality time with the family. Moving to communities like Etobicoke, Misssissauga, North York with large areas of employment make it easier for those employers to hire local talent.

4. Your current home has a poor floor plan.  You may not be able to remodel the house you live in. It may be too costly to make it what you want. If you want a kitchen in front and the family room facing south, but your home has the kitchen in back and the family room facing north, a remodel may be too expensive to be practical. Due to lot size, building codes, or physical barriers, some homes may not lend themselves to remodeling the way you want. Building codes can limit the type and size of additions as well as their appearance.

5. Your yard is too big/too small.  For many, the yard is an integral part of a house. A yard is land to call your own, a place to plant flowers or vegetables or an expanse of grass that you take pride in keeping green and manicured all summer long.  Depending on your lifestyle the yard can also be too large and actually create more upkeep than you need or want. No matter what it is about a yard, most of us want one. The question is how big of a yard do you want? There can be good reasons for wanting a smaller yard as well as a larger yard.

6. In this day and age of safety concerns, the choice of good safe schools is a major decision. Unless your children attend private school, the neighbourhood usually dictates the quality of the school your children attend. This is great for building a sense of community in the neighborhood as children can walk or bike to school together. A school nearby can also cut down on travel time for dropping off and picking up your children. 

7. You do not like your neighbourhood. Each neighborhood has its own characteristics. Some have big yards; some have small. Some have sidewalks and streetlights; some don't. Some have many rental homes, some have few. Some are full of 1,000-square foot houses; some only have 3,000-square foot houses. Some neighborhoods have kids playing on the street all day long and friendly neighbors stopping by to chat every day. In other neighborhoods, people keep to themselves and rarely wave as they drive by each other on the way to work. As much as we all would like to change some features of our neighborhood, many are out of our control. If the neighborhood doesn't meet your needs, a move may be the only solution.

8.  Remodeling is too expensive. You can profit from an intelligent remodel, but in reality, some remodeling projects are not worth the investment or effort. If your dream is to live in an affluent neighborhood with large lawns and a 4,000-square foot detached home, and your neighborhood is full of semis , townhouses or bungalows with single car garages, the chance of getting what you want by remodeling for a reasonable amount of money is unlikely. Remember you never want to be the best home on a street of lesser value homes. The reverse is much better.

9. Your home is already the largest and nicest on the street. You may have remodeled your detached or semi before and now your home is the largest and nicest in the neighborhood. This is great if you love the neighborhood and plan to stay in the home for years to come. However, if you have been remodeling your home because it needs updating and you still have to add additional space or amenities, then a move may be a good idea financially.

10. If you will likely move, relocate, downsize, upsize in the next few years because of mortgage renewal, job promotion, family reason, renovating or remodeling just before a move is the absolutely wrong time. Don't go through the expense and the inconvenience of remodeling and then put the house up for sale the next month or the next year. Moving right after a remodel can be costly unless you managed your remodel project very carefully to minimize the cost and maximize the market appeal of the work that was done. Also, moving immediately takes away one of the biggest benefits of remodeling: enjoying the results. If there is a reasonable chance of your moving in the next 24 months, it may be better to move now to get the house you want rather than to remodel.

 STOP NOW !! BEFORE YOU MAKE A DECISION TO RENOVATE OR MOVE - TO GIVE YOU A FEW SUGGESTIONS ON WHICH IMPORTANT FEATURES OF THE HOUSE GENERATE THE MOST RETURN FOR THE LEAST EXPENSE.

THE ALTERNATIVE IS GET A PROFESSIONAL CONTRACTOR OR RENOVATOR TO GIVE YOU AN ESTIMATE OF THE COST OF REMODELLING BUT MAY NOT BE SURE IF THE CURRENT MARKET CONDITIONS WILL PAY BACK YOUR INVESTMENT.   

 

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