Why Existing Homeowners Should Consider Renovation Over Home Buying?

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Why existing homeowners should consider renovation over home buying

When it comes to our house, we are super possessive and have all the reasons to demand the best. Our existing home is as comfortable as heaven for us. But that depreciates with time and gets older showing the signs of age. As a result, we start thinking of a change, a big change which can either be a renovation or buying a new house. Sometimes it becomes difficult to decide what to do? Whether we should go for the renovation or we should buy a new house.

Some reasons that explain renovation can be a better choice

Here are some points that favour renovation over buying a new house. For sure, you have reasons for a home buying too, but the aspect below will reveal one side of the coin. At least, you can compare the two and can take your decision.

Cost effective

Of course, this should surely be the first point because money is the prime concern of humans and always gives sudden attention to this. Of course, renovation is much more cost-effective than buying a new house. You already know what the defects are, and if you get them repaired, it will be done in a very short time without spending much money.

After a little adjustment in the monthly budget, you can easily plan for the renovation. However, it can be a big task with already many more expenses. But many cheap home improvement loans are available at an easier cost. They are instantly available through convenient fund transfer. You can explore the multiple options of 24-hour loans in Ireland available for renovation or home improvement.

Location issue in new house buying

Certainly, the existing home is a jewel in a good location, but the new home may not be in the desired location. You may have to compromise a lot to get a property on the desired spot, and that may not be affordable for you. The property price and location issues are the two prime obstacles.

The new place may look good but may have other issues such as connectivity, electricity supply, too much-congested area (not especially nowadays due to pandemic), unfriendly neighbours, etc. But in the case of the existing house, you are already familiar with the house, the proximity and the transportation facilities, and good relations with the local people who can help anytime. Renovate and stay where you are.

Modern renovation technology offers complete transformation

Yes, technology today has changed the way we live, and it has entered the renovation world. From downsizing the house to the expansion of space, everything is easy. It is the magic of the technology that we have IOT (internet-of-things) working in our homes. When you can make desired changes in the existing home, why buy a new house.

Home automation, smart electricity, enhanced solar technology tools etc., make your home a small spot of many powers that keep you informed. From the security concerns to the automation facility to avoid heavy work at home, everything can be done. Even your coffee can be made automatically, thanks again to the internet of things.

When you get up, the smart wrist band in your hand gives notification to the air conditioner to increase the temperature as the room was cold the whole night. The air condition gives a message to the coffee maker, and it starts making the coffee.

Freedom from the heavy obligation of home loan

One should always avoid taking a home loan and should choose a renovation loan if possible. In excitement, we buy a house, but when the instalments start and we see a long-term obligation, we may regret it. Why not do the necessary transformations in the existing property and save a huge amount of money.

Renovation is not heavy on your budget; if you have borrowed money for it, you need to pay small instalments. The tenure is small, and you can get rid of the obligation by making big and frequent part payments. It helps make plans for other financial priorities without any interference from a big loan that dominates your life.

Take the right decision and live a stress-free life that has nothing to do with financial issues. Take time, think again, make calculations. You will see a considerable difference between the two.

Conclusion

The above points explain very well why renovation can be the better, in fact, the best option to choose over home buying. They open our eyes to be able to see the other side of the coin and save our hard-earned money that is precious and priceless. If you are planning for something on your house, do not forget to consider the aspects above. Renovation is always the better choice if your house is in a good location and not in very poor condition. Think twice before making a choice

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