Decisions, decisions. Whether you’re considering renovating your home or relocating your family, both are huge life decisions that will disrupt your family life for a while. Ultimately, your goal is to make the right choice for your family, but what’s right depends on your family’s needs and your budget.
The Average Cost of Renovating a Family Home in TheUK
Renovations take so much more work than people realise. Putting the money aside, unless it’s something simple like putting vinyl on the kitchen cupboards to give them a new lease of life, a full renovation, whether it’s just a room or a larger part of the house, can be financially and mentally draining. People come and go in and out of the house, rooms become unusable, and costs are sometimes higher than you initially estimate.
Room by room, the average cost of renovating a family home in the UK is:
• Bathroom / en-suite: £6,000 – £20,000+
• Complete family home kitchen: £15,000 – £40,000
• Basic bedroom refresh: £800 – £3,500
• Garden: £5,000 and £15,000 for a medium-sized plot
These estimates come from Beams Renovation and My Builder. The actual cost depends on the room size, the materials you choose, labour charges, and any additional purchases.
What to Consider Before Relocating Your Family
If you feel you need more space, have outgrown your home, prefer to live in another area, or want to relocate for any reason, consider a few things. First, the average cost of moving home in the UK currently stands at around £13,000, according to NatWest.
You also need to compare your home’s value with the price of the houses you’re interested in. If you search for ‘value my house online,’ you can use services that provide instant valuations by analysing thousands of data points to give you an accurate estimate. Then you can start shopping around to see what you can buy based on the money you’re likely to receive.
You will need to factor in moving costs and consider if you will need to relocate your children to new schools and how you will all integrate into the new area.
Is Renovating or Relocating the Better Option?
The better option depends on you and your family’s needs. If you’re considering moving because you need more space, you might get what you need with a renovation. Or, if you’re considering moving because you want to be in a better area for your children’s education, then moving might be the better option.
The right decision totally depends on your unique circumstances. To help you decide, list the pros and cons of renovating and moving, and price everything out. Most renovation companies offer free quotes, and a free online valuation of your home will give you a rough idea of what it’s worth and whether you can afford a home better suited to your needs.
Plenty of free online information and valuation tools can help you make the right decision. Take your time, because the last thing you want is to spend thousands renovating or moving, only to realise a few years later that your home still doesn’t work for your family.
