All of us have gotten tired of our homes at one point, especially during the pandemic lockdowns. When this happens, you have two options: to remodel your home or to sell it. If you are still wondering what’s best for you, read this short comparison between remodeling and moving, and find out why home additions are usually the best option:
PROS AND CONS OF REMODELING
Remodeling can mean anything, from adding a second bathroom to converting your flat roof to a terrace. It’s a brilliant solution for those on a tighter budget or those that love their neighborhoods. You won’t need to say goodbye to friends, but you’ll also get to reinvent and spice up your home. Here are the benefits of remodeling:
A custom design that fits your needs
Staying in the same loving neighborhood
Less expensive than buying a new house
No packing and moving
Home equity might cover part of the costs
You can increase current home value
These benefits are for sure something to think about. However, just like with everything in life, remodeling has its disadvantages too:
You might not recoup the cost
You will live in a construction zone for a few months
Unpredictable extra expenses
PROS AND CONS OF MOVING
Statistic shows that most people prefer not to move. 76% of US citizens would rather renovate than switch houses. But, sometimes moving is necessary, whether because of a new job opportunity or because you want to change your lifestyle and neighborhood. Here are the benefits of moving:
A chance to make a smarter investment
Less construction work
Switching to a better neighborhood
Moving is not as bad as it seems, but we definitely wouldn’t recommend it for people who can’t stand research and administrative tasks. Read these disadvantages to learn why:
You will have to forward mail, secure property, and title insurance, establish legal domicile for taxes, re-register to vote, cancel subscriptions to current utility providers, organize the transportation of furniture, change jobs and schools.
You will need to research neighborhood value and history, crime rates, road access, and building codes before choosing a property
You will need to research the property before buying (insurance, utility access, condition and quality of materials and appliances)
WHY CHOOSE A HOME ADDITION?
A home addition has more benefits than a kitchen or bath renovation. It increases square footage, has a high ROI, and therefore has more chances of increasing value. Plus, you can create any type of room you want… an art studio, home office, playroom, or a guest room.
A home addition is also more beneficial than moving because it limits chances of risk while providing similar results. Yes, it can be a long process but once construction is over, you just need to say goodbye to contractors, close the door, and relax in your new and upgraded home.
However, everything depends on your goals, needs, and budget. For example, if you don’t like your neighborhood or you got a new job opportunity that’s further away from your house, then moving might be necessary.
If you still have a hard time deciding what’s best for you, feel free to contact our team. We love to help a homeowner in need