Sometimes homeowners find themselves unsatisfied with their property after a period of time. Whether this is due to the growth of family, kids moving out or simply a desire to upgrade, there are a number of options available to undertake.

One of the first questions to answer, however, is whether you're looking to renovate your current property, or simply move on and find another home.

The benefits of renovating

Renovating could be a great option if you simply want to upgrade your current living area, rather than move to an entirely new home and neighbourhood. By renovating, you avoid having to enter the property market and spend time looking at various homes within your region.

Furthermore, you don't have to adjust to another neighbourhood, worry about changing schools or transport routes, and can generally retain your current lifestyle with ease.

You can also avoid all the fees associated with the transfer of property. Charges like stamp duty, agent fees, inspection costs and refinancing costs can be skipped and put towards renovating your current home.

The benefits of moving home

Because renovations can be a stressful, time-consuming undertaking that can displace and disrupt your everyday life, moving home is often the easier option to choose. Once you find the perfect home on the market, it's as simple as organising your home loan and shifting.

Furthermore, you won't have to live amid the dust and scraps associated with a renovation site, which could be extra handy if you happen to suffer from allergies or other afflictions spurred on by floating debris.

With purchasing a home, the costs are fairly linear. Renovations, on the other hand, can see costs escalate as unforeseen complications arise – which can cause undue stress and headaches for homeowners.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we'll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.