What to Consider When Deciding Whether to Renovate Your Home or Move
For prospective homeowners, finding the perfect home is usually a long journey and finally moving in is a time of relief. After a few years, though, that home may not satisfy their needs or wants anymore for several reasons.
When this happens, it is time to choose between a renovate or moving. Before making a decision, homeowners should think about their budget, why they want to move or remodel, if they can stay within their budget, and if they can solve their current issues with moving or remodeling.
What Are the Current Issues?
One of the most common issues for homeowners is the need for more space. A growing family can start to feel cramped in a once-comfy home, or feel frustrated with outdated layouts and appliances. While the temptation can be there to move, selling a home can be a huge hassle, involving finding realtors, packing, fixing up and staging the house, and researching new homes and neighborhoods. Moving often has many hidden expenses, and can mean leaving behind neighbors, friends, or school districts.
Remodeling can often solve many of these issues with less hassle. Adding on a floor, extending a room, finishing a basement, or updating appliances can modernize and refresh a home, giving the homeowner more space and an updated look – all without the headaches of selling, buying, and moving.
Does the House Feel Like Home?
Some people can move whenever they feel like it because they’re not particularly attached to any specific location. However, sometimes a house starts feeling like a home and the residents become emotionally attached. Living in a peaceful neighborhood, making friends with neighbors and liking the surrounding area all strengthen this feeling. If the home feels comfortable, remodeling is a good choice to avoid moving.
What Is the Budget?
The budget can relate to renovations or moving. Homeowners need to be sure they can stay within budget when they remodel and that they will keep the home long-term so it’s worth renovating. On the other hand, it’s important to have a budget in place when moving. This is sometimes difficult because owners already spent a large amount of money on the current home, so they should plan accordingly.
Looking at all the options and weighing the advantages and disadvantages should help with figuring out what to do. Remodeling and moving are both big steps, so homeowners should carefully think about their decision before taking action.