Home Remodeling: Should You Remodel or Move?
Although you might have loved your home when you moved in, all of a sudden, it might feel too cramped or like it doesn’t meet your needs anymore. If you are debating between trying to find a new home and moving forward with the home remodeling process, there are a few questions you should ask yourself first:
- What are your feelings about your neighborhood? Although you can change things about your home, you can’t necessarily change the neighborhood that surrounds you. As you consider whether to remodel or move, think about whether you are happy with your children’s schools, nearby amenities, and your neighbors.
- Does a home remodeling project make the most sense financially? There are many costs associated with both remodeling and moving. For example, if you remodel your home, there is the actual cost of the renovations, plus the potential need for a temporary living space. Comparatively, if you move, you have to consider the price of the new home as well as closing costs, realtor fees, and other expenses.
- Will remodeling your home ensure your needs are met? The main goal of either home remodeling or moving should be to make sure you are happy living in your home long-term. If you believe that remodeling your home could ensure your needs are met, then it may be worth moving forward with the project. However, if this is not a possible reality, it may be better to find a new home.