Moving Your House Or Renovating It in A Recession

Moving Your House Or Renovating It in A Recession

There are many home decorating tips which can be used during a recession to effectively help maximise the potential of your home whilst keeping a tight reign on your expenditure. With a little `know how` you can rejuvenate your living space, credit crunch your style cobwebs and achieve a fantastic home makeover whilst budgeting and saving money along the way.

Clear the clutter! Make your mantra `Out with the old and in with the new`! You will be amazed at how much better your house will look when you get rid of all the clutter and nik naks that time (and style) forgot and go for a minimalist approach. However, do not throw your old stuff away, as in a recession you need to save money every step of the way, so….

Accessorise on a budget! Put your old stuff up for sale on EBay, or do a car boot sale. Whilst you are at it you may be able to pick up some fantastic bargains for yourself and you new stylish home. If even EBay is out of budget then try sites like Free cycle, where you literally can get something for nothing (however, it is best to respect the gods of Karma and offer up something on there yourself!).
If you have a little cash, make it go a long way by bargain hunting in `pound stores`. You can often find great accessories for rooms, such as small mirrors or canvas art, which when carefully placed in multiples of three upon the wall, go from drab to fab!

Paint is your new BFF! Paint is an inexpensive way to refresh every and any room! A splash of colour on an accent wall can revolutionise the dullest of rooms. A light colour can lift a room, magnolia can freshen and is great as a base upon which to build, red can add drama and blue can evoke feelings of peace and tranquillity. Do not be afraid to experiment and to use stencils or different paint effects to achieve different looks.

Great lighting can do as much for a room as a new lick of paint. Open up windows and allow as much natural light as possible into your rooms. Remember tip one and de-clutter window spaces. If you have limited natural light sources then fake it by adding artificial floor, wall and table lighting. Adding a dimmer switch is a budget friendly way to create ambiance and bring a whole new look to a room.

Spice up the old! Cannot afford new curtains? Dye the old ones! Rearrange furniture, move a rug to a different room, check under carpets for wooden floors, paint old chairs, varnish old tables… Use your imagination to salvage, reclaim, reuse and rejuvenate!

You have decided that your home feels cramped and you need more space. You also want a better kitchen and you’ve had it with the lilac bathroom fixtures which are nearly four decades old and showing it.

Still, you love your garden and your home’s location. The school is nearby and your kids have their friends in the neighbourhood. It’s a real dilemma. Do you but another home, or do you renovate?

Not so many years ago, people generally sold a house when they became tired of it or found it no longer suited their lifestyle. But today, with construction and land costs so high, more and more people are taking a look at their existing home and deciding to transform it into the home of their dreams. By renovating, they get a different house without ever changing their address.

To move or renovate – what’s right for you?

Begin by considering how you feel about your current home’s location. Does it meet your needs? Can you picture yourself continuing to live there for many more years?

Once you have decided you want to stay in the area, look for homes in your neighbourhood that are larger or have already been renovated. Would any of these suit the lifestyle you now want? If so, what are they worth and how do they compare to your home’s current value. Your best help in this area will come from a local REALTOR.

Once you have a rough idea of what it will cost to purchase the kind of home you want and what your current house is worth, you will have an idea of what it will cost you to move. Don’t forget to include real estate, legal and other fees for selling and buying, as well as moving expenses, when you are comparing the costs of renovating and moving.

You may find there is no significant difference between the cost of renovating and the cost of selling and buyer a larger, already remodeled home in the same neighbourhood.

Renovating has a lot of advantages. You avoid the stress and inconvenience of moving, especially if it’s to a different neighbourhood. You get to remodel your home the way you want it, not the way someone else has chosen. You get to choose the materials and colours that suit you. And you have the advantage of renovating as much or as little as you want.

Remodeling has its share of disadvantages as well. You have to chose the right contractor. If you make a bad choice, the result could turn a dream into a nightmare. Ask friends, colleagues and relatives to recommend names. Knock on the door of a renovation project you like and ask about the contractor. Get at least three to submit estimates.

Once a renovation is underway, be prepared for some inconveniences. If the project is extensive, you may have to move out of your home for several weeks until much of the major work is completed. Also be prepared for extra costs. If you decide you would rather have hardwood flooring instead of the vinyl you were originally quoted on, be prepared to pay more money.

The total renovation cost is a big factor in deciding whether to go ahead or sell and buy elsewhere. Renovation prices vary considerably, so do your homework. In making your decision, be sure to consider the kind of renovation you require. A second-storey addition, for instance, will cost less per square foot than a rear addition which requires a foundation. Renovations to the actual house can also be quite costly per square foot; that’s because you have to consider the cost of taking the house apart, disposing of materials and installing new parts and materials.

Despite the inconveniences, renovation can be a worthwhile project, especially if it gives you the house you want at the price you can afford.