Why
Move? – Redesign your kitchen & bathroom instead
In the current economic climate, you may have decided not to move house and are
looking at remodelling and redesigning rooms in your existing home. The main
rooms people focus on are the kitchen and bathrooms as these are where you can
make the biggest return on investment (ROI).
Before you make the final decision about moving vs remodelling there are some
points to consider:
-
How do you feel about your current home?
If you are filled with dislikes, then perhaps moving may be the right move. But
if it is certain rooms that you do not like, then you should consider
redesigning and updating those specific rooms.
-
Will you get the ROI on the investment if you redesign?
Installing the kitchen of your dreams in your current home may look out of
place. You need to make sure that you will get the ROI on the planned redesign
and remodelling. Consider your neighbourhood and size of home. If the value of
the projects put the value of the home too high for the neighbourhood chances
are your return on investment will suffer.
-
How do you feel about living with the redesign /remodelling?
Can you and your family live I the disruption that having contactors in the
house can cause? Or do you cringe at having the slightest changes done around
the house. Would you get a contractor in or would you do the changes yourself?
You need to think about the redesigning in a wider context of the impact it
would have on yourself and family.
-
How would you pay for the remodelling or move?
Would you use your savings or take out a loan to do the redesigning? Perhaps
remortgaging would release equity in your house? How much would the mortgage
repayments be on a new house? Ensure you review the costs of moving and
remodelling and look at the larger picture on this before you make final
decision.
-
Prioritising rooms to redesign
If you decide to redesign / remodel then you need to prioritise the changes
that you want to do, as you can’t do everything! Think about what changes would
give you the biggest increase on investment – bearing in mind that the
kitchen and bathrooms
generally provide the biggest return.
-
Can you scale back the changes needed
Would changing the cabinet doors or
oven or
hob could be enough to change the look and feel of the kitchen? Or
would changing the shower or
bath
in the bathroom be sufficient? Make sure you are not redesigning the whole room
when simple changes would be satisfactory.
-
Clear idea of what needs changing
Have a clear idea of the vision for the changes, as it will cost more to change
the plans mid stream in a project.