Relocate or Renovate?

A household’s need for space changes at different stages in life. When there is only two of you, you would probably only need a 2 bedroom unit. As your family grow, potentially up to 3 kids, you might need a bigger home to cater for your household’s need. Then, when the kids grow up and move out, you probably won’t be needing those extra bedrooms.

As these things happen, homeowners often faced with the decision to relocate or renovate their current home. Both options are not to be taken lightly as it cost a lot financially and emotionally. So this time on the Today Show, Bryce Holdaway discuss the considerations you need to think about prior to making such decision and some tips that would help you to make that decision.

One of his renovating tips is to always have a clear mind on your budget. Look at your finances and really dig down into the details on how much you can afford to spend on the renovation and as the renovation starts, make sure you have an organised log book to account for all the expenses. It is important to make sure that you regularly check the expenses incurred and compare that to your budget.

And one of his relocation tips is to be patient. Sometimes finding a new home, paperwork and finalising the details can be time-consuming so it is crucial to maintain your cool and don’t lose sight of the end goal.

Find out the rest of Bryce’s tips in the video!