When spaces start to feel a bit cramped, the question as to whether to “move or improve?” begins to tickle the minds of homeowners. While moving may seem like the “best” solution, the fact remains that you can’t buy a great neighbourhood.
Here in Australia, there’s another factor to take into consideration: declining housing prices. Just a couple of years ago the money you may be able to scoop for your property likely won’t come close to what you’d get now, and many homeowners may even be left in a deficit if they sell.
Survey Says: Housing Prices on the Decline
A recent National Australia Bank (NAB) survey of 2,000 Australian consumers found that the majority of respondents don’t think that this year is the year to sell their personal or investment property. On average, respondents believed that the price of housing would fall 2.1 per cent over the next year.
The NAB forecast on housing prices is even more dire. According to NAB, housing prices will fall by 5.6 per cent in Sydney and a shocking 7 per cent in Melbourne throughout 2019.
Don’t move – renovate!
So many of us find ourselves in situations where our homes no longer meet the demands of our lifestyle. One bathroom may have served you well as a single individual, but sharing that bathroom with one or more other people can be challenging. What once may have felt like a spacious kitchen when you just moved in may feel cramped and cluttered now that children and pets have been added to the mix.
Moving may seem like the ideal solution, but it’s clear that with declining home prices you may end up unnecessarily losing money on your precious investment. Our first reason for renovating rather than moving can both save you money while increasing your home’s earning potential.
Renovating will increase your property value
Depending on who you ask, renovating your kitchen is the second most – if not THE most – profitable renovating project you can undertake. Being the heart of the home, choosing to tastefully renovate the kitchen before any other area boosts the value of your home in the future while increasing its functionality for your family today.
Staying in a beloved neighbourhood
Moving to a new neighbourhood can be traumatic. It means starting new friendships with fresh faces, possibly starting employment in a new workplace, and uprooting children from what they know and transplanting them into unknown territory.
Choosing to renovate rather than move means being able to stay in the neighbourhood you love while still residing in a home that meets your needs and expectations. You don’t need to say “goodbye” to the people you love simply because you haven’t unlocked the square metre potential of your home.
Customising the kitchen means maximising your space
You don’t need to be stuck with a kitchen that’s small, outdated and impractical. Renovating your kitchen allows homeowners to recreate their living space so that it reflects both their personal tastes and evolving needs.
With a Zesta Kitchen renovation, you can transform any house into a home by choosing your kitchen design, layout, and colour scheme. Our storage and design solutions will help you transform cluttered spaces into spacious and attractive areas that will help you also capitalise on other factors like lighting and style preference.
Our professional kitchen designers work with homeowners to develop cohesive kitchen designs that will show off both your style and your needs from the inside and out. We invite you to contact us today or visit one of our three showrooms to speak with a member of our kitchen design team.