Renovate or Sell Which Is Right For You?
Coming to the decision to either renovate or sell your home may leave you feeling really confused. This is not an easy decision to make and there are a few things to consider before jumping onto the wagon, whichever way it goes…
Start by evaluating your current situation; why are you even considering selling your property?
Is it too old, too small, too far, too expensive or in the wrong area? What solutions are there to the problems you face?
In the current global economic state, we have to think and rethink how and where we spend our money.
Can you renovate your home, add another room or two, build a higher wall?
Would renovations actually add value to your current investment or would you sit with an overcapitalized property that would be hard to sell at a later stage? Or, would the renovations actually help you to sell your home faster afterwards?
Say you decide to sell; would you be able to afford another bond or would you lose money on a deal? Would you be able to move into a home that is perfect or would you have to renovate anyway?
Always take your time to properly investigate all options. Make sure you add up all the expenses, all the pros and all the cons. Take informed decisions that would not nibble at you long after you have no control over the situation any more.
Author: Annemarie Swanepoel