There are many reasons to move house. From outgrowing your space to wanting to move to a different area, there are several things that could be pushing you towards somewhere new. But with the housing market as it is now – moving might not always be the answer.
There are a lot of costs associated with moving home, so give the following some thought before you take the plunge – you could end up saving a lot of money.
Selling your home can be an expensive and long process
Moving home isn’t as straightforward as putting your existing property on the market and finding somewhere new – the whole process takes time and a lot of money compared to buying your first home. Some of the costs involved in selling your home include agency fees, legal fees, and perhaps even a settlement fee to your lender for an early exit. Not only that, but it can take a while before someone takes a bite at your home, making you feel as though you’re at a standstill when you’re keen to move forward.
An extension could be cheaper
Instead of relocating to a bigger property, have you priced up how much a home extension or renovation could cost you instead? There are plenty of incredible home extension ideas out there that could help sway you to stay put and save what you would have been spending to put towards your home extension instead. From expanding your living area to adding another bedroom, an extension could be a simpler solution to your problems – especially if you love where you live.
You’ll need to make a lot of changes to a new home
It’s very rare that a new home will be exactly how you want it to be when you move in. Taste and style mean different things to different people, so while you might have the foundations to create something great, it will take time and a lot of money to realize your dream. However, there are affordable ways to transform your home that will make a big difference.
New Carpet One flooring can transform your home, while a fresh coat of paint can smarten things up while you save for the rest of the improvements. You’ll also want to pay for an inspection of your prospective new home to make sure you won’t need to fork out for a new boiler, appliances and water repairs after you’ve moved in.
What about the actual cost of moving?
In addition to the above – the process of moving is something else that can eat into your finances. From hiring a moving van to having to take some time off work – packing up and moving can incur a lot of costs that can be the last thing on your mind when considering selling up. Weight up whether or not you can afford it and don’t forget to factor in moving costs into any projections you make.
Moving home can be a great way to begin the next chapter of your life, but if you’re happy where you are – then do you really need to move? Why not look at ways to upgrade your existing home and completely transform it? There are even many easy home improvements that could save you money, so figure out which option is really best for you and your family.