Choosing between remodeling your current home and moving to a new one can be a difficult decision. There are pros and cons to both options.
First, ask yourself some questions. Do you simply want a better indoor space or are you looking to change your surroundings entirely? How much money are you willing to spend? How long are you willing to be displaced? Do you want something totally different or simply upgraded?
Read on for arguments for each:
MOVING
You can start fresh in an entirely new space.
You won’t have to live in a construction zone.
You have options that wouldn’t be if you stayed in the same home.
You can change multiple things you want to change rather than limiting yourself. If you want more bedrooms, look for a home with more bedrooms, for example.
You can move location in addition to improving your home. You can choose your neighborhood.
Renovation budgets often go over their expected amount. In moving, you wouldn’t have the same problem.
RENOVATING
Can often be less expensive than moving.
You already know the space you are working with, so you limit the number of surprises.
You may be able to borrow against your home equity to make improvements.
You can stay in a neighborhood you may already love.
You can customize anything.
It can be faster than moving depending on how much you are renovating. You have more control over the timeline.
Moving comes with a lot more costs including commissions and possible fixes that need to be done before moving in. It also costs money to move, especially if you hire help.
Remodeling adds value to your home, which directly leads to profit for you when it comes time to sell.
Think through these options and do your research. It is a big decision and one that should be informed and thorough. If you decide to remodel, give New Leaf a call. We would love to help make your home the home of your dreams without all the hassles of a big move.
