Perhaps you have just purchased a new, and you feel it needs some updates or even a total renovation. You probably feel excited to get started on the work.
Do you tackle the home renovation before moving in, or do you live in the house for a while first? There are advantages to both, however living in the house for a little while before you take on the renovations can make a lot of sense.
Renovating is expensive and requires time to get plans drawn up, source materials and stats, trades people and get quotes. During the pandemic, prices for building materials has gone up and turn-around time to get materials has been dramatically extended. What use to take a week is now taking as much as a few months. With this in mind it’s even more important to do some planning.
As tough as it is to be patient with something this significant, sometimes it is more beneficial to wait. To save money while you are waiting to get the renovation started it would make sense to live in the house. The downside of course is that you will likely be living in chaos for a while once the renovations start.
Here are a few reasons why it might make sense to wait on starting the renovations until you have had a little time in your new home.
1. Your renovation ideas might change after living in your new home in Nanaimo.
Spending some time in your new home may just be what you need to get the renovations plans finalized. Living day-to-day in the house might help you to get the renovations done right the first time vs. renovating and realizing that some other plans may have worked better.
2. You deserve a break.
Buying a home is expensive, tiring, and hard on the wallet. Many buyers feel quite exhausted after house hunting, the subject removal process, packing and closing on a home purchase. Living in the home for a while gives you some time to top up your physical and financial resources.
3. Take some time to get the renovation done right.
It’s possible that you got your new home for a good price because it needed work, or it was very dated. Perhaps your intention is to renovate and flip the home. A renovation will only make money for you if you do it right. Now that you are in your new home it makes sense to take a little breather and start doing some research. Ask your Realtor what they think. We Realtors are well versed in features that sell a home. We view a lot of new construction homes, so we are usually up to date on the colours and finishes builders are using. Additionally, we know what rooms are key to buyer satisfaction.
Plan slowly and carefully to avoid any problems later.
Another reason it makes sense to wait and live in the house for a while is that you get some time to find out what is working well in the home and what isn’t. It’s possible the job is bigger or maybe smaller than you originally anticipated.
4. Take some time to save some funds.
By waiting a few months to start the renovations, you give yourself a little breathing room financially.
Buying a fixer-upper not only potentially saves you money but it also gives you the opportunity to customize it to your taste. These things can take time and planning. You stand to realize a better profit in a resale situation if you do your research before lifting a hammer.
