You are a homeowner who plans to rebuild your home early last year. After Covid, you realised how inadequate and uncomfortable is your home for staying in during the lockdown. You want to be prepared for the future; to futureproof your home.
It all makes sense for you to rebuild your home early last year. Interest rate were low, you have extra fund which you save from not being able to travel during the lockdown period. You were excited to finally able to build your dream home; to start from a blank canvas, rather than fixing the inherit problems of an old rundown house.
Then the market turns for the worse, unexpectantly! Your dream crumbled. The material supply interruption, the cost escalation, the high interest rate and inflation are making you nervous of going ahead with your plan to rebuild.
Should you rebuild or renovate your home? Is it easier to renovate in 2023?
I believe these questions will help you gain clarity on your next move.
- Which decision (to rebuild or renovate) take me closer to the goal I want to achieve?
- What are the pros and cons of the decision I take? Weigh both options and see which one give you more rewards than risks.
- Is my well-being and my family’s well-being worth for me to invest on this project?
The last question is a question most homeowners forget to consider. We forget our lives matter. Your home project is not just about building or renovating buildings, but it is also about building lives; quality of life and a self-care project.
Our environment affects our well-being; our relationship, mental, emotional, and physical health, even our livelihood. If we can’t have peace, rest and feel recharged in our home, we will not be productive or do well in our work.
We spend a lot of our time at home. Home is our sanctuary, an extension of who we are. Your home project not only have the financial impact on you and your family, it will also have the emotional and psychological impact.
Coming back to the question, what can homeowners do in 2023? Rebuild or renovate your home?
I would attempt to give you a one liner answer, that is:
Do whatever you feel is going to give you the best outcome and return of your investment; in your financial, emotional and psychological.
Your life matters! Your life and well-being matter to your family and the people around you. You and your family deserve to have a home that celebrated your worth and value!
We love to help you navigate through this important decision and move forward in your home project. Reach out to us and book a FREE clarity call.
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