At some point, you may find yourself living in a home that no longer meets your needs. At this point, you have two main options. You could either remodel your home so that it does fit your needs or find a house that fits the bill and move there.
To help decide which of these options makes the most sense, ask yourself a few questions.
How Much Does Each Option Cost?
One of your biggest considerations should be the cost of each option. This may also be influenced by whether you have the funds available now or will have them in the future.
Renovating your home will mostly be an immediate cost, unless you get a payment plan or put it on a credit card. The cost of moving will depend on how far you move and the type of home you get. If your choices are to move or remodel, then you may find yourself looking at slightly more expensive homes. As such, you’ll have to think about mortgage costs in addition to the cost of the best cross country moving companies in the United States.
What Does the Real Estate Market Look Like?
The current state of the market will influence how much you can get for your house. It will also influence how much you are likely to have to pay for a new home.
Are You Emotionally Attached to Your Home?
Your level of emotional attachment to your home will also play a very significant role. Some people simply aren’t ready to move out of their house because of all of the memories it holds. Maybe it has been in the family for years, or maybe it just has a lot of happy memories.
In this case, you may be willing to put up with the mess and noise of renovation and pay a bit more to alter your home so you can stay in it.
Is the Time Right to Move?
Don’t forget to consider the timing of your decision. If you move a significant distance, you may have to find a new job, and your kids may have to change schools. At the very least, your commute will likely change. Think about how much of an influence moving would have on these things.
For example, if your kid just started their senior of high school, they may resent having to move to a new school. On the other hand, if you just got a great job offer or could shorten your commute by moving, doing so may make sense.
Are You Willing to Put Up With a Remodel?
You will also want to think about what exactly is involved in a remodel. We already discussed the costs, but there is also time and inconvenience involved. Think about how long a remodel could take and how disruptive it would be to your life. For example, can you handle not having a functional kitchen for weeks on end? Or do you mind dealing with construction noise and dirt? Don’t forget to consider delays in the remodeling schedule as well.
With all of these factors carefully considered, you’ll be prepared to make the right decision for you and your family in regard to whether you should renovate or move.