Are You Ready To Move Home?
Choosing to move home is a big decision and one that requires careful planning. Here are some of the biggest factors worth considering before taking the plunge and relocating.
Counting the costs
Most people will choose try to move up the property ladder. This means added costs of living. Even if you’ve saved up for a deposit, can you afford increased monthly bills or mortgage rates/rent? On top of this moving comes with many other costs such as agency fees, lawyers and hiring movers. Make sure that all debts have been paid off and that you can comfortably afford this step up.
The alternative is to downsize. This may be an emergency situation for those that can’t afford living rates at their current property, but can be a good strategy for those wanting to make some money. Selling high and buying low gives you an extra sum of money to play with. This could be used to pay off debts, renovate or simply to spend leisure activities such as holidays and more luxury living.
Timing it key
There are times when moving is a sensible option. If you feel property prices are about to drop in your neighbourhood or you’ve been offered a lucrative job somewhere else, these are perfect times to consider moving. However, there may be times when a move could do damage such as pulling a child out of school during exam season, moving when someone is ill and needs to be looked after or moving at a financially bad time when property price may have devalued. Know when to wait it out and when to take the bull by the horns.
Knowing your needs
You’ll know it’s time to move when your current home no longer meets your current needs. If you’re considering starting a family or have recently had a newborn, you may want to consider a bigger home to accommodate your new needs. Contrastingly, if the children have recently moved out, you may want to downsize to a smaller property that feels more cosy and less like an empty nest. Recently developed disabilities meanwhile might cause you to want to move somewhere without stairs. Find your need to move, otherwise you could be leaving a home that’s perfectly practical for your style of living.
Home is where the heart is
If you don’t feel attached to your current home and your heart yearns to live someplace else, this should be enough of a reason to move. You need to feel comfortable in your own home, as well as the area that it’s in. The home may have a lot of good practicalities, but if you feel isolated in it because you have no friends or family nearby, consider whether being around people you love is worth more than the pragmatism that your current home gives you.
Similarly, you should consider this when moving away from a comfortable to pursue a job or lower cost of living elsewhere. Some people are able to easily make new friends and connections wherever they move, but if your family and friendship ties are too much to break, this might not be a decision you feel able to make.
☮ & ♥