Should you Renovate or Purchase?

Tips from Bōde and the Prōs at Fort Architecture

Bōde’s Prō Marketplace is there to help when buying, selling, or maintaining your home. Browse our offerings to connect with design expertsrenovation specialistsor other Prōs for more information, pricing, or to schedule a service. 

How can an interior design expert help?

Interior design experts can help you make the important decision of whether to renovate your existing home, or purchase a new home. By evaluating the space you are currently working with, and your goals for a future home, they can give advice and recommendations about how to proceed. They may be able to give rough estimates of cost, time frames, and even if a feature is feasible or how you could make it possible.

Connect with the prōs at Fort Architecture

5 Questions to ask yourself to help you make an informed decision
1. What will it cost?
What is your space missing that you require in a home?

Start by making a list of the things your home is missing that you need to meet your personal or family requirements. Creating a list will give you a starting point for comparing and weighing your options. If the list is lengthy and involves significant work, it might be worth considering purchasing a new home that better suits your needs and preferences.

How could you change your current home to meet your personal requirements?

Evaluate your current home and try to envision how you could change the existing features and layout to meet your list of requirements. This is where the prōs can be extremely helpful as they often are able to see potential in a space that is not obvious to the average person. Their creativity and experience can provide a great deal of value when making a big financial decision about your home.

What is your budget?

Take a look at your “wish list” and determine a rough estimate of how much the projects will cost. Now browse Bōde’s current listings that fit your criteria to see what price range homes are selling for. Compare the amount you will spend on renovations versus purchasing a new home and it will give you a good idea where your money is better spent.

2. Do you have a specific timeline?

Renovations take time – whether you are completing them yourself or hiring a professional. If you require a different home in a short amount of time, looking at purchasing may be more realistic and fit better with your timeline. 

3. Is now a good time for your family to move?

Moving homes can be a big undertaking. Really sitting down and contemplating if now is the right time for your family to move is an important consideration. Every family has different circumstances to consider and in many cases perhaps moving is actually the perfect solution. If this isn’t the case for you, and now just isn’t the right time, renovations may be the way to go.

4. Real Estate Market: Is now a good time to sell?

Before transacting homes it’s important to understand the data. Our market data and sold data are great tools to use to acquire more information and make a data backed decision about whether to sell your home and purchase a new one.

5. Is staying in your current neighbourhood or home important?

No matter what you determined from the above, ultimately there are circumstances where the home you are in is the place you want to stay. This could be because of location, neighbours, family, schools, emotional attachment etc. If moving to a new home is the best option for you, but you want to remain in the same neighbourhood, you can use Bōde’s marketplace to see homes for sale in your area.

Why bringing in a prō can be beneficial in many situations:
  • They take care of the project management, organization, and communication with other contractors.
  • Their creative minds specialize in seeing the ‘potential’ of a space.
  • Being experts, they can see through your personal items, and potentially clutter, to the bare bones of space they actually have to work with.
  • From experience and knowledge, they can advise you of some potential issues before starting renovations – which may be key to your decision.
Whether you choose to renovate your home, or purchase one better suited for your lifestyle, Bōde is there to support you through the entire process.

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