Buying a home is a long term investment. Most of us pay our mortgage for decades. However, this doesn’t mean that you will need to stick with a house or an apartment that is no longer serving you and your lifestyle. Families change, teenagers need more space than toddlers, and kids will eventually leave the nest. There is no point staying in a home just to protect your investment, just like you wouldn’t stay with a partner who is not considering your needs.
The Location
In case you have changed jobs, the traffic situation has changed since you moved, and it takes you over an hour to get to work and get back home at night, you should consider relocating to improve your work-life balance and your lifestyle. Look for similar properties and compare the prices. Alternatively, you can let your home out and rent somewhere else. You might want to check out Interstate Removals and get an estimate as well to calculate the total cost of moving before you make a decision.
Family Dynamics
One of the things that change faster than you have expected is family dynamics. Your kids might grow up, go to college, or get a part time job. You might need parking for an additional car or two. You could really do with an en suite bathroom for the master bedroom, as there is a queue in front of the bathroom door every morning. No matter what has changed, if your home is no longer matching your needs, you should think about extensions or relocation. Find a home that suits your lifestyle, instead of adjusting your life to the limitations of your house.
Space
Most of us can never have enough space. If you have started a business from home, it is essential that you have the separate room to work from. At the same time, if your kids have managed to get on the property ladder themselves, you should think about downsizing and releasing equity of your home to improve your budget and save money on your mortgage. You don’t want to pay for the rooms you are no longer using after you retire.
Comfort
If you are thinking about making your home more comfortable, you might not need to move after all. In case you are happy with the location, the transport links, and the space, small adjustments and DIY projects are going to help. Make sure that you are considering opening up your space, improving the energy efficiency of your home, and adding some features that make you smile. Focus on the indoors and the outdoor area as well, so you can show off your home to your friends and make the most out of your time spent at home. From a modern bathroom to a new kitchen, there are several investments that will improve your comfort level without having to shop for another property.
When you are no longer happy with the home you live in, it is time to give relocation or home improvement a thought.
