5 considerations to help you decide.
Is it better to stay and remodel your existing house or move to a new house? Each individual situation will be different and there are many things to consider when deciding so here are five important criteria to help you make the best decision.
- How do you feel about the neighborhood where your current house is located? Does it have the lifestyle you love? Are you friendly with your neighbors? If you have children do you like the schools? You can remodel your house but you can’t change your neighborhood so if you love it or hate it that will strongly influence your choice about remodeling or moving.
- Does renovating make financial sense? To help establish this you will need to determine what your current house is worth and approximnently what your renovations will cost. A realtor and contractor can help you obtain this information. Another consideration is to determine the cost of buying a different house, either with the features you want or in a different area, as you will need that information to make an informed decision.
- Are you willing to live through a remodel? Depending on the size of the project you will either need to temporarily move out of your house or have a disruption to your daily routine. If you decide to stay in your home this may result in times when the water and/or power need to be turned off. In addition, there will be workers in your home and no matter how careful your contractor is dust and noise. Any construction issues can be minimized by working with a good contractor and watching the work proceed can even be fun but your lifestyle and personality will determine if this is something you and your family want to live through.
- Are there any zoning or HOA restrictions that prevent or impact your remodel? Will the city make you update anything, like adding fire sprinklers, that will increase your cost if you decide to remodel? Will any property setback or height restrictions impact your plans or will your project only impact the interior of your house? Determining these issues at the beginning of your project will save much time, effort and possible frustration relating to your project.
- Can you enjoy the process if remodeling or does moving into a new home, where everything is already done, provide a better fit for your lifestyle and personality? Are you able to spend the time to make the many choices that will be needed for your project? Remodeling can be frustrating, especially when things aren’t completed on time or cost more than expected but it can also be extremely rewarding to see your dream become reality.
Good luck with your project or new home search and if you want a free report showing your home value or the cost of common remodeling projects please email me at [email protected] with what project pricing you are interested in or your home address and I will email you a report.
