With shows like Fixer Upper and Flip or Flop sweeping the nation, it’s no surprise homeowners are experiencing house envy like never before. Before you know it, you’ll start to channel some major Love It or List it vibes. When it comes to deciding whether to remodel your existing home or move, weighing the pros and cons will help you decide what is the right choice for you and your family.
The Pros of Moving
- Moving gives you the chance to find a new home in a location you love. Maybe you’re not happy with the way the neighborhood has changed over the years or the location means you have a long commute to and from work. In those cases, cosmetic changes won’t solve your problems, so moving may be the best option.
- You have the opportunity to build a home to your exact specifications. There are times when no amount of remodeling will convert your current home into your dream home. Purchasing a home built to spec, on the other hand, will do just that.
- Moving to a new home can give you a fresh start. If you’re looking for a new adventure in a new city or just tired of the same old, moving can give you the fresh start you crave.
The Cons of Moving
- Selling your home can be costly. Remodeling can be an expensive investment but selling a home comes with its own set of expenses. There are realtor fees and moving costs, plus the cost of purchasing furniture and decorating your new home just the way you want it.
- Moving is time consuming and stressful. From endless showings to packing everything up and cleaning, moving takes time and tight closing deadlines can be stressful.
- You may not be able to sell your home for the desired price. If you live in an older home, be prepared to make some updates in order to sell your home for your desired price. At the very least, you may need to make concessions on things like flooring or appliances to the seller so they can make their own updates.
- Finding a home you can afford may mean sacrificing some of your “wants.” Finding the perfect new home may not be as easy as you think. Home prices have continued to rise and it can be difficult to find an affordable home that checks every box on your list.
The Pros of Remodeling
- Remodeling means you can stay in the neighborhood you love. If you love your neighborhood and have come to depend on your neighbors, it makes more sense to remodel than it does to move. It can be hard to replicate the feeling of comfort that comes from knowing your neighborhood and neighbors well.
- Remodeling lets you redesign your space in the way you want. One of the best benefits of remodeling your current home is that you know exactly what you need to change in order to make you happy. Whether it’s small tweaks or big changes, a redesign can help you fall back in love with your existing home.
- There are no moving expenses or tight timelines that come with moving. The cost of moving adds up and finding a new home in conjunction with selling your current home can create some stressful timelines. Though remodeling can be expensive too, the end result is worth it.
The Cons of Remodeling
- Remodeling sometimes comes with unexpected expenses. Be prepared to uncover some hidden expenses when remodeling, especially for larger projects that require moving plumbing or tearing down walls. Combat these costs by making room for unforeseen expenses in your remodeling budget.
- Remodeling means living in a construction zone. Depending on the project, remodeling can require some patience as you’ll be living in a construction zone. Remodelers can expect dust, noise, and a general chaos until the project is completed.
Ultimately, the choice of whether you should remodel or move is one only you and your family can make. Your home isn’t just a big investment, it’s where you spend your time making memories, so loving your home is important.
If you think remodeling is the right choice for you, get in touch with the Homecare team. We’d love to chat!