Should I Move or Remodel? Here Are Four Things to Consider
Homeowners have two choices when they outgrow their current living space: They can either move to a larger house or stay and remodel their current one. Unless you’re able to find your dream home at the right price, making the decision to stay or move isn’t always easy.
As experts in both new construction and home remodeling, our team at Coyote Hollow Construction is here to help. Continue reading to learn a few things to think about when considering, “Should I move or remodel?”
Total cost
You’ll want to start by considering your financial situation when you’re deciding between moving or remodeling. Both are significant investments, but both have long-term benefits. If you’re happy with your current mortgage and have some money put away in savings, remodeling might be right for you.
On the other hand, if you have the means to sell your current home and invest in a larger one, you’ll have a lot more home equity in the future.
Emotional attachment
You’ve made great memories in your current home, and you’re likely very emotionally attached to it. Don’t forget about these emotions when asking yourself, “Should we remodel or move?” By staying put and remodeling your home, you can retain the emotional attachment without starting from scratch in a new house.
Making new memories isn’t a bad thing, though! Relocating to a new home brings a new chapter to your family’s life, which is always an exciting thought.
Real estate market
Be sure to check out the real estate market when choosing between selling or remodeling. Houses tend to sell faster in the spring and summer, and they can also sell for well above the original asking price. If it’s a seller’s market and you won’t have trouble selling your home, it’s a good idea to at least consider putting your home on the market.
But if the market is currently down, you may want to consider remodeling for the time being. Remodeling can give you the extra space or amenities you need, and it can help you fetch a higher price for your home if you ever choose to sell.
Timing
The final thing to consider is the timing when you’re on the fence about moving or remodeling. If it’s a stressful time in your life or if there are a lot of things going on, there’s no reason to make your life more hectic by selling your home and looking for a new one.
All of that said, remodeling isn’t exactly a stress-free situation, either. Unless you work with a reliable contractor, dealing with a large-scale home remodel can be just as stressful as looking for a new home.
Coyote Hollow Construction is here to meet your needs
If you’re still asking yourself, “Should we remodel or move?”, give our pros at Coyote Hollow Construction a call. We’re experts at home remodeling and building new ones, so we can help you weigh all of your options. Contact us today to learn more about all of our services.
Categorised in: Home Remodeling