To renovate or move? That’s the question you may be asking yourself at one point or another. According to a recent study done by iPropertyManagement, nearly 30% of property owners preferred the option of renovating since it’s more affordable than buying a property with all the upgrades they need. Read on to find out which option is best for you between home remodeling and moving.
What’s The Cost?
There are expenses associated with remodeling your home, and also with moving to a new property. Before deciding which option is best for you, you should calculate the costs involved. Start by looking at the home improvement projects that you have lined up and figure out the cost of renovating. At the same time, explore the option of selling. Figure out how much you can expect to reasonably get by selling your home and the costs of moving you have to cover down the line.
What’s Your Vision for Your Home?
Usually, home remodeling is a better idea if you’re emotionally attached to your home and may not be open to the idea of moving. All you have to do is focus on transforming your home into the dream home that you want it to be. It can even be fun watching your home turn into your dream home as each home remodeling project is complete. This will help you avoid the stress of trying to sell your home, especially if the real estate market may not be optimal. If your vision for your home is promising, then it’s probably better to stick around and renovate your home.
Home Remodeling vs Moving
You should consider the pros and cons of relocating or remodeling. On the one hand, relocating means finding a home that’s a better fit and enjoying the change of scenery. However, there’s no guarantee you’ll find the home that suits you better and moving can add more stress to your plate. On the other hand, remodeling means you can customize your home and increase its value without the hassle of selling and moving. But this can take a while, and there are costs involved, depending on the size of your home improvement projects.
Once you have factored in all the points brought up in this article, you should have a better idea of whether to move or to stay put. Either way, you should do what feels right for you and your family because your peace of mind matters. If you’re leaning more towards a home renovation, reach out to us today!