Many of us will come to a point in our lives when we think about relocating or moving to a smaller, larger or different style of property. If you’re considering moving, here are some factors to think about before you put a for sale sign up or give notice on a rental agreement. Moving with a family can be hard, so it’s important to make the right decision.
Swapping renting for buying or vice-versa
There are pros and cons of both renting and buying and many people will do both in their lifetime. While it’s often considered a major milestone to become a property owner, there are advantages of renting, particularly if you don’t know where you want to settle or you can’t afford to buy a house at the moment. Renting affords flexibility and there is less responsibility involved in terms of managing the property and covering maintenance and repair costs. If you’re thinking of swapping buying for renting or vice versa, weigh up the pros and cons and think about whether the move would benefit you. Analyse your finances and think about what you might want to do in the future. Perhaps you’re toying with the idea of moving to a different county or even moving overseas or you’re eager to save for a building project or a bigger house, for example. In this case, you might be better off renting until you’re ready to take the next step.
One of the most common reasons people move is a lack of space. We often outgrow our homes as a result of welcoming four-legged friends, having children or looking after older relatives. We certainly did after having the 2 children and we made the right decision to move. Now, with more people working from home than ever, you might have also decided that your home isn’t big enough to provide a workspace too. Some people also move because they have too much space and they want to buy a smaller property.
If you are moving to save money, your children have grown up or you want a more low-maintenance home, it’s wise to do some research so that you know where to start when you’re downsizing your house. Consider the location carefully, create a wish list and set a budget. If you want more space, moving might not be the only option on the table. If you love your home or the location is perfect and you’d rather stay put, explore possibilities such as extending or converting attic or basement space. Another great idea is adding a garden room, which could be used as an office, gym or studio.
Some people sell their homes out of necessity but often, moving opens doors and offers new opportunities. If you don’t love your home, you’re not crazy about the area, the style isn’t your cup of tea or you simply fancy a change of scenery, buying a new home is an exciting proposition. Before you put your house on the market, have a look around, explore different areas and arrange for estate agents to value your home.
Moving house is a significant life event and most of us think long and hard about upping sticks and moving to pastures new. There are advantages and disadvantages of moving and it’s always wise to consider the pros and cons for your family and to weigh up all the options before you make a decision. Then when you do, its the right decision!