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Renovate or Build. How would you spend your millions on your home?

When you hit the jackpot from the draw of an international lottery and step into millions, if not billions of dollars overnight, you shockingly face many big decisions.

One decision that probably wouldn’t cross your mind until you are in the position to make it is whether or not to stay in your family home full of happy memories and renovate. Or say your goodbyes and level up into a home fit for your new millionaire status.

Let’s look at the pros and cons of each option.

RENOVATION PROS

When you choose to stay and renovate your home, you’re already in and don’t have to move anywhere. You’ll retain that sense of familiarity and security and remain within your comfort zone. You won’t be uprooting your current life to leave your neighborhood and the friends you’ve made. Your children won’t have to change schools and leave their school and neighborhood friendships, and you’ll retain the sense of community you’ve been building since living in the home.

Another pro to renovating is that it usually costs less than building from scratch (which may or may not be an issue now that you’ve won like an international lottery winner).

Our final pro on the renovation list is that you will avoid the emotional distress you may feel if you choose to leave the home where you’ve made so many memories. Instead, you’ll stay comfortable, and renovating should be a fun, creative process as you design your home exactly to your taste.

Now let’s look at the cons of renovating:

RENOVATION CONS

The first con is that it may not be possible to renovate your home to meet all of your needs and wants, especially if you have very specific ideas in mind for your home. You may be left feeling disappointed if you’re renovating an older home and find that the house’s bones just won’t work for your needs.

The second con is that renovating can be very stressful, especially if you plan to live in the home during construction. Therefore, it’s essential to factor in noise levels, dust, and debris when making your decision.

Man drilling screw with puppy watching

BUILDING PROS

The first pro of building from scratch is that you get to design your home exactly how you want it, without any limitations. You can ensure that every detail is perfect for your needs and wants.

The second pro is that you get to start with a clean slate. Starting over means that everything in the home will be new, and there will be no need for repairs or renovations.

The third pro is that you get to choose the perfect location for your new home. This is especially ideal if you’re looking for a change of scenery and want to live in a different neighborhood or area.

BUILDING CONS

The first con of building from scratch is that it can be costly, depending on the size and scope of your project. However, now that you’re a lottery winner, the cost could just be pocket change for you now. Still, we thought it was worth mentioning if you have other plans for your millions outside of your new home.

The second con is that it can take a long time to build a home, depending on the complexity of the design and permits required.

The third and final con is that you may not end up with the envisioned home. When working with contractors and builders, there is always a chance things don’t get communicated correctly, and you’re left a little disappointed after making so many sacrifices. Builders may also not be able to execute your vision flawlessly, or there could be unforeseen delays or issues during construction.

So, those are the pros and cons of renovating or building from scratch. As you can see, there are pluses and minuses to both options. It’s essential to weigh all of the factors before making your decision. And, of course, the most important factor is what will make YOU happy. If you can picture yourself renovating and being just as happy in your home as now, renovating may be the best option for you. But if you’re feeling like you need a complete change and are ready to start fresh with a brand new home, then building from scratch may be the way to go.

For a chance to win a huge jackpot like that of an international lottery winner, follow the few steps below.

  1. Click on the “sign up” icon at the top of our home page. You can sign up quickly using your Gmail or Facebook account. You’ll be asked to input a few details and agree to our terms and conditions.
  2. Now you’re ready to play! Visit our website and select which if our matched international lotteries and numbers you’d like to play. You can decide to choose a quick play, and the numbers will be selected for you randomly.
  3. Complete the transaction and pay securely. You can pay using a debit or credit card, Bpay, POLi Pay, Pay ID, or Paysafecard. For your safety, our website is secured by 256-bit encryption technology.

Note: To sign up for an account with The Lottery Office, you must be over 18 years and be an Australian or New Zealand resident.

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