February 23rd, 2023

Renovate or Vacate? Things to Consider Before You Decide

As we move into a new year, things certainly have changed. Gone are the 3% mortgage rates that we have enjoyed for several years. Although interest rates seem to be holding steady, there doesn’t seem to be much certainty in the market about what will happen next. What is forecast, however, is that rates aren’t very likely to drop; they will probably go higher. So now is the time to decide, do you want to find home renovation companies in Charleston, SC to renovate, or is it best to vacate? For the wisest choice, ask yourself the following questions.

Do You Like the Location of Your House?

In real estate, there is one thing to focus on and that is location, location, location. The most desirable homes aren’t just the ones with the most luxurious upgrades; they are the ones that are conveniently located and in good school districts. If you like the location of your house but it just doesn’t suit your needs, then a renovation might be best. However, if you can give or take the current location, then looking for a new locale might suit you better!

Is Your Lifestyle Conducive to Construction Woes?

There is NEVER a good time for construction – unless, of course, your home is vacant and you have a free place to stay. Before you look for home renovation companies in Charleston, SC, it is a good idea to consider whether you are up for the hurdles and challenges that come with home renovations. Things like just starting a family and living with a new baby probably aren’t the best conditions to bite the renovation bullet. Be realistic about how awful living in a construction zone will be and how it will affect you and your lifestyle as it is right now. Are you prepared?

How Much Money Do You Want to Spend?

Obviously, you can somewhat control the budget of a construction or renovation project. But unfortunately, when it comes to renovation and remodeling, there are times when things can go over budget pretty quickly. When you buy a home, you know what the cost is going to be. That doesn’t necessarily mean that you won’t want to make adjustments, but it is a better gauge than starting on renovations, unless you have a professional renovation contractor like O’Connor who stays on budget and on time. If you want to limit the uncertainty of the final cost, renovations might be a better choice for the future.

Do You Want a Specific Feel or Flow to Your Home Plan?

When you buy someone else’s home, unless it is a new build, it’s like buying a used car. There are some things that you can change and others that you can’t. Things like floor plans, building space, and overall flow can be difficult to alter. When you hire someone for renovations, you can work closely with your contractor and architect to ensure that you have it just as you want. Sure, you will be guided by certain parameters, but those can usually be worked around. When the renovations are done, you know exactly what to expect because you have already lived in the space.

As we head into the new year, many will be looking to make a change. If you are on the fence about whether it is time to buy or renovate, then it is important to be realistic and ask yourself the hard questions. Neither renovating nor vacating will be easy, but choose the path that works best for you and your current lifestyle. Contact us today to discuss how we can renovate your current home to make it exactly what you want.