Life comes with infinite options. Black coffee or milk. Going on a safari or to the beach. Going out or staying in. Unfortunately, some decisions are harder to make and can cost you in the long run – financially and emotionally. Such as choosing to buy a new house or just fixing an old house. Renovating a home requires patience. And buying a home may need a huge budget for the down payment.
Buying a new house can be rewarding because you’ll get a fresh start on a house that you’ve dreamed about. Fixing an old house, on the other hand, can be wonderful for certain DIY-type personalities and a nightmare for others. It requires ripping carpets off the ground, scraping, grouting and painting walls. But it’s not as costly as buying a new house.
It’s usually just cheaper to renovate an old house. The carpets may be stained, the paint may be chipping off the walls and the floor may need refinishing. It could cost you a little to work on these touch ups but it’ll pay off in the long run and it’s still cheaper than buying a new house. Work on each room and figure out what needs your attention. Renovate your home on a room-to-room basis. It’ll give you enough time to save up.
If the walls are characterised by what your children thought was art but is actually just doodles all over your precious walls, then you can buy paint and transform the room. Or if your cupboards are filled with scratches and stains, repaint them. People underestimate the power and effect that paint can have in transforming a room.
Relocating can be emotionally hard not just for you but your whole family. Some people that move often suffer from bouts of nostalgia from time to time. A house is more than four walls. It’s where we spend hours trying new recipes in the kitchen. And where we spend hours laughing hysterically as we watch our favourite movies all cooped up together on our lounge suites as a family. It’s also a place where we bond with family and friends over a braai, and share endless stories around the fire as we watch our marinated meat cook. And where laughter echoes through the hallways.
Every room has a story to tell. Nothing can take away the memories that you build in your home.
When you move, you are starting over and you may find it extremely hard to let go of what you know.
Choosing to rather fix up your old home can be extremely beneficial because you don’t have to start over. With a new house, you have to get to know your neighbours, forge a bond with them, learn more about your new neighbourhood, and find the nearest schools available. It’s a lot of effort and work that will take a lot of your time and energy.
The house you want to buy may be already of a standard that makes you happy. And renovating may be too much work for you. Renovating a home isn’t for the fainthearted. It requires your time, hard work and often sleepless nights. You may make a budget, but when you renovate a house there are always things that you have not budgeted for that may come up. Such as paint that is finished before the walls in the room are done and you have to go buy more paint. People underestimate the money it actually takes to completely renovate a fixer-upper.
The house you buy could have more room. If you’re moving because you need more space in your house, buying might just be the solution. Your old house may not be suitable to add a second story. The bottom of your house may not be strong enough to handle the extra weight that comes with adding another level. And hiring an architect and builders may be extremely expensive. It can also cost you because you’d still need to furnish the rooms on top.
The place you are moving to may be safer and more convenient than your current home and you want to upgrade the neighbourhood you live in.
You may decide to tear your house down and completely transform your home or just take the leap and buy a new house. You have to decide at the end of the day what choice will make you happier. It’s not an easy decision to make so weighing all the possible options is the best way to come to the best decision.