Share This Post:

We see it all the time. A couple has a second child, and suddenly their cozy bungalow starts to feel a bit cramped. An older relative moves in, and a ground-floor bathroom quickly becomes a necessity. You need to start considering whether to renovate or move.

When the needs of your family change, the space you inhabit might need to change too. But what does that mean? Have you outgrown your house, or can you make your existing space work for you by renovating?

There are many factors to take into account. Here, we’ll look at three of the biggest practical concerns when determining whether to renovate or move.

Space requirements

We’ll start off with the most obvious question. Is the house you’re living in big enough to accommodate your family? It may seem like the answer is straightforward. But the truth is, it’s often impossible to know what to change until you’ve explored your options.

We’ve had clients who have decided to move after months of considering renovations. It can be tempting to believe that adding a new bathroom will make your house feel less crowded. But sometimes, a bigger space is the key to improving everyone’s comfort levels.

On the flip side, some growing families are convinced they need a house with more square footage. But after careful consideration, many recognize the real problem—their floor plan. In these cases, it’s often possible to reconfigure existing space through renovations. As one example, you can put up a wall to split one bedroom into two.

Of course, we’re not just talking about square footage. You should consider how much personal space your family members need. How old are your kids, and how will their privacy needs change over time?

What about your neighbours? If you’re living in a semi-detached home and you dream of retreating to your own detached house, you probably won’t be entirely happy living where you are long-term.

Cost and time considerations

There’s no doubt about: whether you renovate or move, the process is going to be costly. And it’s going to take time.

Because there are so many factors at play, we can’t tell you which option is going to wind up costing more. Nor can we say how long it will take you to get to the finish line. Luckily, speaking to the right finance professionals, real estate agents, and contractors can help you understand which options will fit your budget and preferred timeline.

But before you even get to that stage, there are a few basic considerations that can help you decide which course of action is likely to work best for you.

First off, be realistic. Some buyers do the math and realize they can’t afford to move—or completely redo their homes. If you find yourself in this situation, there are many smaller upgrades that can improve the look and feel of your home for the time being.

If you do choose to move or embark on major renovations, consider your current location. It’s important to think long-term when you’re investing a lot of time, money, and energy. Is your current neighbourhood perfect for your family? Do you love your neighbours and your school district? What renovations are worth doing? When to renovate?

If you’re not in love with where you live now, it probably doesn’t make sense to invest in a major home overhaul. Why spend a bunch of money to fix up a place that doesn’t meet your needs when you could find your dream house?

If you prefer to stay put, think of your renovations as a long-term investment. Consider hiring a design-build contractor if you can afford it. Design-build teams communicate efficiently; they understand your vision and can execute on it to a tee.

What about time? Do you have a flexible schedule? Are you able to plan, organize and coordinate a major renovation project? Of course, moving can also take a lot of time. But the right real estate agent will help coordinate the process so that it works with your schedule.

 

Quality of life

Of course, you can’t put a price on quality of life. It’s important to consider which option will make you and your family happiest—during the moving or renovating process, and in the long run.

One of the first questions to consider is which of the two options excites you. Does the idea of renovating stress you out, or are you the type of person who’s constantly looking at Pinterest boards of remodelled homes?

Next, you should think about the day-to-day implications of your decision. Do you want a bigger backyard where your kids can play? If parking is currently an issue for you, how much would having a garage improve your life?

There are some problems that renovations just won’t fix. If you’re encountering them, remember that the right house is out there. Looking for it means taking a step toward a new and exciting phase in your life.

On the other hand, your home might already be perfect for you in all but a few ways. You might love your neighbours, the area you live in, and many things about your house. If you can already envision your current space as your dream home (right down to the last detail), renovating with a design-build contractor will allow you to have complete control over the finished product.

The decision to renovate or move is a big one. Take stock of what’s important to you and your family—and what you want for your future.

Exploring your options whether to renovate or move? If you’re thinking about moving, we’d love to share our expertise. Give us a call at 416-909-1602 or email us at hello@getnested.ca

Our West End Expertise

We know West Toronto like the back of our hands. From real estate to restaurants to neighbourhoods, we have the intel you need to know. Learn more about our local expertise here.

Learn More

Don’t Miss Out!

Get on our mailing list to be first to know about the latest West Toronto listings and receive exclusive community content from the neighbourhood’s experts.