Your most important memories consist of your home. This line explains the whole dilemma behind getting your home renovated.
You may wish to invest your money in your home and make it more beautiful. Or you may want to invest your money in a new property and get it renovated according to your tastes and preferences.
To buy a new property, you need a huge investment that you can make possible through unsecured personal loans. These loans are also available for bad credit people. But, it is a major decision to borrow loans. Hence, it would help if you take the time to think about it.
Pros and Cons of Home Renovation
Any new property you buy requires some amount of investment in the form of decoration or renovation. If you plan to get your home renovated, there are advantages and disadvantages. Following are few points highlighting both sides of home renovation, i.e. pros and cons.
Pros of Home Improvement
Emotional Connect
Your house that you are planning to get renovated will take you down memory lane as it has many of your memories. There is an emotional bond as far as your old house is concerned.
Getting that house renovated means staying with memories with a new face. There will be a totally new relationship with your new house, and the memories will be made from scratch.
There have been many memories attached to your old house, such as your childhood, your kids’ childhood, you get together with family, and the fun time spent.
You may have experienced some life-changing events in your old house that is about to get renovated, and you will stay you’re your experiences and memories again.
It is very difficult to leave the old memories and experiences behind. If you know that you will be facing difficulty adjusting to your new house, getting your home renovated is the best decision of your life.
Cheaper than buying a new one
Getting your property renovated is a wise decision as compared to buying a new house. Your new house may cost you a fortune, whereas you can get your house renovated at a much affordable price.
Nowadays, the properties newly constructed have sky-high prices and may shoot your budget. As a result, investing in a new house may leave you in debt and broke.
Considering the price trends, you can consider buying an old property and then getting it renovated. With your unique renovation ideas, you can increase that house’s value and make it worth living.
The amount, in this case, may be equivalent to buying a new house. But in the former case, you will be getting a home according to your choice and taste.
More Room, Less Cost
It is a very important decision to finalize your number of rooms. You have to choose between more room and more rooms.
For example, do you want two additional rooms to be built during the renovation process or add one guest room to the existing ones?
In the latter case, you can consider splitting your lobby area into two and adding a Splitting room and adding another room may cost you less compared to adding two more rooms.
As a benefit, you do not have to build a new house and stay on your property.
Cons of Home Improvement
Cost
Every home project costs different depending upon many factors such as space, interior, rooms etc. Therefore, sometimes it is profitable to buy a new one instead of getting it renovated considering the high costs involved in the renovation.
Before getting your house renovated, you may want to conduct a survey with various real estate agents.
Once you have spoken to all the real estate agents, you can consider all the factors involved and make an informed decision of whether to go for a house renovation or to build a new house.
You might go over budget
Once you start with the home renovation process, you may shoot your budget as there may be several things involved, such as décor, rooms’ layout etc.
You may not have counted many things you realize during the process, such as crumbling walls, damp proofing, replastering etc. Unfortunately, you have to spend money to resolve these issues that went unnoticed before starting with the process.
It is a costly affair. You can opt for borrowing loans for bad credit no guarantor but before borrowing, reconsider your decision and only then go for this major step.
Once you opt for a loan, you may get stuck in a debt trap as paying off your debt and simultaneously getting your home renovated can be difficult for you to manage.
Once the process starts, you may wish to extend the budget as such things don’t happen frequently. You may want a superior interior with all superior fittings and furnishings.
But, you have to check with the budget amidst all these things and do not allow it to overshoot.
Finding trusted tradesmen
You heed the best people in the profession. There may be several people who claim to provide you with the best service but how do you decide?
You have to find a trustworthy trades person with whom you can trust with your property. The tradesman can either make or break your property. Hence, it is crucial o find the right one.
You can take suggestions from your family and friends and go by their suggestions and experiences if you are confused. However, the cheapest option is not always beneficial. Hence, consider all the factors and make an informed decision.
