Love it or List it is a show on HGTV that has caught my attention lately. The show is a real estate renovation show that features an interior designer, Hilary Farr and a real estate agent, David Visentin. The idea is this….the current owners have decided that they either need to:
- move to a home that better suits their family’s needs
- or re-design their current home in such a way that it will meet those needs.
The show is set in such a way that the agent and designer are actually competing with one another for the homeowners final decision.
The designer gets to work – they consider the home owners desires, but don’t always strictly abide to them. Hilary fights to help the owners understand that she can transform their worn-out house in to an abode that they can again love. Meanwhile, the agent takes the home owners out and about and attempt to help them find their dream house. After the renovation work is complete and the for sale homes have been toured, the owners must make a decision. Will they love their current home, or choose to list it? In the end, if they do decide to list the house, Hilary’s design work is not a loss – it adds to the home’s resale value.
I get this dilemma. People often ask me questions about listing vs. renovating. As you move through the different stages of life within the same walls, sometimes your house can stop feeling like a home. This places a big financial and emotional question in the forefront of all thoughts – Do you turn to Real estate or to Renovate? The show poses an interesting solution. Renovate, but make decisions that, if you decide to sell in the immediate future, are ones that add value in the resale process. Keep your eyes and mind open to moving be a solution as well. Thinking through this in both ways can ultimately only help you and your family better understand what takes priority in your home.
Often first things that stop working for us in our homes are…
Bedrooms – Are the kids all grown up and gone? No longer need 4 bedrooms? Is your family just beginning to grow? Do you need more bedrooms? A different layout for the bedrooms space for sake of privacy, company, etc…?
Kitchens and Baths – When a galley kitchen was suitable when it was just you, it no longer works well for a family with children. Are your kitchen and baths outdated?
Location, location, location – Have you changed jobs and find yourself commuting more? Are you now a stay at home mom and crave the company of other families, children, parks? Does your slotted school system meet the needs of your family?
Space – Are your kids growing up and do you need that “third space” (basement, finished attic, etc.)? Has your family fled the nest and you need less to take care of?
Age – This can be the age of the home or the age of the occupants! Are you sick and tired of the upkeep of a home that is 50+ years old? Are you feeling less and less like climbing up and down the steps on a day to day basis? One level living, here you come!