Many people often ask whether it is better to remodel their homes or move. The answer depends on your personal goals. One of the biggest reasons why someone would want to remodel their home is so that they can repurpose areas, update the fixtures and units, and improve the overall look and feel of their living space
One of the things that prevents people from taking the plunge is the fact that remodeling can be expensive. That is why some consider moving to find the home of their dreams without having to go through the effort and expense of remodeling.
Which Is Right for Me?
Think of the oft-used phrase “location, location, location.” It applies to this situation as well. Are you unhappy with your current neighborhood? Maybe you want to be closer to shopping centers or live closer to the heart of the city. Or, perhaps you want access to better schools for your children? Do your career will take you elsewhere or you will need to relocate in a few years? These are major questions to ask yourself whether or not it makes sense to stay put.
Here are some other points to consider:
- Will you be remodeling more than half of your home?
- Are there areas, such as your roof, that need a complete replacement or are irreparable? It may make more sense to move.
- Do the homes you are considering cost less than your current home’s value?
- Remodeling and renovation can add uniqueness as well as value to the home.
- Adding square footage can also increase the property’s value.
- Older homes will almost always some form of renovation, to accommodate modern conveniences.
- Weigh the costs of remodeling versus the costs of moving and decorating a new home.
- Does the market favor buyers or sellers right now?
- Are you willing to wait for the entire remodeling process to complete? It may take anywhere from a few hours to small projects to up to a year for the larger ones.
Either option can be exciting for a potential homeowner. When you remodel, you have peace of mind that you can return to the home, one that you are intimately familiar with. Most of us first focus on the financial aspects and what you are able to afford, while also considering the long-term financial gain.
If you have any further questions, please feel free to bring your questions to Post & Beam Design/Build. Call us at (410) 593-1251!