Are you tossing up whether to renovate your current home or sell up? Maybe you’re comparing the dollar figures to see what is your cheapest option? The reasons for staying where you are and renovating or moving to a home that better suits your requirements will not only have a financial impact one way or the other for you and your family, but an emotional toil as well.
We aren’t calling ourselves emotional experts, but we have seen firsthand, the stress it can cause families in both situations of renovating and moving. Think about the cost of renovations blowing out or you can’t afford to move to your new dream home. These are just some of the factors to consider when deciding which is best for you and your family.
So, let’s help you break down some of the costs. Apart from new furniture, fittings and building costs, additional costs while renovating are architectural and planning fees, demolition, rubbish removal and dumping fees, permits and rental costs if you need to move out during the renovation.
We also know that selling and moving comes with certain financial and emotional costs as well. Some costs to consider are agent fees, marketing/advertising, conveyancer/solicitor fees, lender fees (early exit or mortgage discharge fees), maintenance or small improvement costs, capital gains tax (if you have rented out the property at some stage). Other fees to consider when buying and moving to your new home include stamp duty, building and pest inspection reports, mortgage registration fees, transfer fees, loan application fees, possibly LMI (Lenders Mortgage Insurance), conveyancer/solicitor fees, council and water cross over rates and moving fees.
Before you make decision on what is the best way to move forward, let’s catch up to explore.
Ask about our Buyer Advocacy service, where we provide you with trusted impartial advice and WE MAKE IT EASY to protect your interests throughout the entire buying process.
To book a free 30-minute consultation, simply click here and choose a time convenient to you. Alternatively, give me a call on 03 9686 2288 to discuss how I can help.
