As your life continues to change, it’s normal to start thinking about making updates to your home, or even finding somewhere new for the family. We’ve pulled together what to consider to help you decide if renovating or relocating is your best move.

What to weigh up





If you move, could you:

  • Live closer to schools/work/family/friends?
  • Move to a suburb you love more than where you currently live?
  • Afford to move to a suburb with higher growth?

If you renovate, could you?

  • Remain close to schools/work/family/friends?
  • Take advantage of your high growth suburb?
  • Continue to love where you live?


If you decide to move, you may need to pay for the following:

  • Stamp duty
  • Real estate fees
  • Marketing
  • Furniture removalists
  • Legal and conveyancing fees

If you decide to renovate, you may need to pay for the following:

  • Renovations
  • Council permits
  • Building permits
  • Possible accommodation during renovations


Do you want to:

  • Dramatically downsize your home and/or garden?
  • Dramatically increase your home and/or garden?

Do you want to:

  • Build an extension?
  • Raise your house to get an extra level?
  • Spend time and money increasing the value of your home?


Is your land:

  • Sloping?
  • A back block?
  • Un-accessible for large trucks/building tools?

Is your land:

  • Accessible for builders, trucks and building tools?


Do you know:

  • What you can afford?
  • Where you can afford?
  • Your pre-approval status?
  • Your deadline?

Do you:

  • Have no tight deadline?
  • Want to make a small renovation or extension?
  • Have somewhere to move if your house can’t be occupied?
  • Have the ability to live in a half-completed house?


Are you in the position where you can:

  • Buy a bigger house using your equity?
  • Save money by downsizing and reducing your repayment amount?

Are you in the position where you can:

  • Use your equity to fund your renovation?
  • Increase the value of your home with renovations?

If you have more circumstances in this column, you could consider moving to a new home.

If you have more circumstances in this column, you could consider renovating.

When it comes to renovating or moving, ultimately your heart and your finances will give you the answer. If you need any extra help understanding how much you can afford, and the costs of moving, we’re always here to lend a hand.

Couple talking with tradie at house

If you want information on home loans or refinancing, give us a call. Our lending specialists are available over the phone 24/7.

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