By Dean Caillier,
Engel & Völkers Ottawa
I love the real estate reality show that renovates the home for its present owner—to entice them to stay—while at the same time a Realtor searches for that perfect property to encourage them to move.
With each episode, the decision to stay or move largely depends on which property checks off more of the wish list boxes – but it is rare that either property meets every criteria for the owner. Compromises are made and the owners find middle ground to either stay or sell.
In real life, to stay or move depends on many factors. How important is location? Is the house too small or now too big? Is the house worth renovating? And of course, what is the budget when either renovating or moving to a new home?
In both cases, the first step is to meet with a professional Realtor. They can prepare a home evaluation of your property so that you better understand its current value in the marketplace. A Realtor can also provide you with trends and statistics on the current housing market including the value of that dream home that checks off those wish list boxes.
If staying is an option you want to consider, contact a licensed contractor specializing in the type of renovation you are considering. Have them assess what can and cannot be done based on your wish list including a general estimate for the work, timeframe to do the work and the process for the renovating the home.
With all this information in hand, you will be able to answer the question, to move or not to move.