Should You Remodel or Move?
Have you outgrown your home and thinking about adding a bedroom or a family room? Is the kitchen too small or just worn out? Are the bathrooms in need of a facelift? Everyone has had to face the challenge of deciding to live with their home as it is, remodel it, or pack up and move, and it is a
Posted — UpdatedHave you outgrown your home and thinking about adding a bedroom or a family room? Is the kitchen too small or just worn out? Are the bathrooms in need of a facelift? Everyone has had to face the challenge of deciding to live with their home as it is, remodel it, or pack up and move, and it is a difficult decision.
The many reasons to move and many reasons to remodel can be divided into two big categories – the financial and the emotional. Along with considering your reasons to do anything you should also clearly understand your goal. Is your goal to live in your dream home regardless of cost? Maybe your goal is to just be comfortable in your home at a reasonable cost? Or are you planning to remodel your home for a profit?
Understanding how to categorize your different motivations, and having a clear goal in mind, will help you to make the decision to remodel or to move. If you have analyzed all the costs and know the cost of each choice, then look at the emotional items and see how important each is to you. Is the lower cost option also the way you lean emotionally? How about your goal? If it is to live in your dream home, regardless of cost then the entire conversations about costs may be unnecessary. If your goal is to remodel then sell to make a profit, the neighborhood and schools may not be of any importance.
To remodel or to move it is a big decision, but with a bit of research careful consideration it is likely you can find the best answer for yourself.