If your home no longer works for you, it can be hard to know what to do next. Do you stay put and renovate? Or is it time to move on? There’s no one-size-fits-all answer. It depends on your situation, your budget, and what you really want from your home.
What’s not working for you?
Before you do anything else, it’s worth taking a good look at why your current home no longer feels quite right. Is it too small? Too dark? Do you hate the layout? Or have your needs changed, maybe you’re now working from home, expecting a baby, or looking after an elderly parent?
Make a list of what isn’t working and what you wish you had instead. That’s the best way to work out whether a renovation could give you what you need, or if you’ll have to look elsewhere.
When renovating might make sense
Renovating can be a great option if you still like your location. Maybe you love your neighbours, the school’s brilliant, or you’re close to work and family. If that’s the case, staying put and updating your home might save a lot of upheaval.
Here are a few reasons to renovate instead of move:
You have the space to extend
A loft conversion or rear extension might be enough to give you that extra bedroom or home office.
You want to add value
A well-thought-out renovation can boost your property’s value, especially if you’re adding space.
You’re emotionally attached to the house
If you love your home and it holds special memories, staying and improving it can be very satisfying.
You don’t want the stress of moving
Let’s be honest, moving can be a real headache. If the idea of packing boxes, changing schools and forwarding post fills you with dread, renovation might be the easier route.
That said, renovation isn’t always cheaper or simpler. Costs can spiral, planning permission can be tricky, and builders can be hard to pin down. You’ll need a realistic budget and a lot of patience.
When moving might be the better option
Sometimes, renovation just won’t cut it. If the changes you want are too big, or if you simply need a complete change of scene, it might be better to start fresh in a new home.
You might prefer to move if:
You need a bigger garden or better outdoor space
Not something you can easily build.
Your home has structural problems
Fixing major issues like subsidence, damp or poor foundations can be incredibly expensive.
You’re not in love with the area
If you’ve outgrown the location, no amount of renovation will fix that.
You want a completely different style of home
A 1930s semi will never feel like a modern open-plan build, no matter how much you change the inside.
Also, if you know you’ll be selling up in a few years, spending tens of thousands on renovations might not be worth it.
How the costs compare
Renovating is often cheaper than buying a new house, but not always. It depends on the scale of the work. A simple kitchen refit might cost £10,000. A loft conversion could be £30,000–£50,000. A full house renovation or large extension can easily go into six figures.
On the other hand, moving house means:
- Estate agent fees (usually 1%–3% + VAT)
- Solicitor costs
- Stamp duty (which can be a lot if you’re buying a more expensive home)
- Removals
- Surveys and mortgage fees
If you’re upsizing, you’ll also need a bigger mortgage, which could mean higher monthly payments for years to come.
It’s a good idea to get quotes for both options so you can compare them properly. Don’t forget to factor in the emotional and time costs, too.
How an L&C mortgage adviser can help
Whether you’re thinking about moving or renovating, chatting to a L&C mortgage adviser can be a big help. We’ll help you understand your options and work out what’s realistic based on your budget.
If you’re moving home, we can:
- Show you what you could borrow for your next mortgage
- Help you decide whether to port your current mortgage orapply for a new one
- Explain any extra costs (like stamp duty and solicitor fees) so there are no surprises
If you’re renovating, your L&C mortgage adviser can:
- Talk you through options like a further advance, remortgaging or a home improvement loan
- Explain how much equity you’d need and what the repayments might look like
- Check if your current deal has early repayment charges or limits on borrowing more
Our advisers will look at the big picture and help you find the most cost-effective way forward, whether that means borrowing more, switching lender or just sticking with what you’ve got.
Planning permission and red tape
If you’re thinking about renovating, you’ll need to check if planning permission is required. Some work can be done under permitted development, but bigger changes, like two-storey extensions or major layout changes, often need full permission.
Listed buildings or homes in conservation areas can be even more complicated. Always speak to your local council’s planning department before spending money on architects or builders.
Think about the long term
Try to imagine what your life will look like in five or ten years. Are you planning to grow your family? Will the kids be flying the nest soon? Are you likely to be working from home more? Could your mobility change as you get older?
Your home needs to work for you now and in the future. Sometimes a move gives you more flexibility. But if you’ve got a good base and just need a few tweaks, a smart renovation could keep you happy for years.
So, what’s the right choice?
In the end, only you can decide. It depends on your goals, your finances, and your feelings.
If you love where you live and your home just needs updating, renovating might be the better option.
But if the problems run deeper, like not enough space, or not liking the area, a fresh start in a new home could be exactly what you need.
Whatever you choose, take your time, plan carefully, and make sure it’s a decision that works for your life, not just your wallet.
