Should You Renovate or Move: How to Decide

The decision to move out of a home you love that has a rich family history can be a tough one. However, it can also be a challenge to determine whether you should invest in costly renovations for your home should you decide to stay. Your attachment to the house, your future plans for the residence, and the type of renovations you’re thinking of making are all factors that can help you determine if you should remodel your current home or move to a new place.

1. Consider Your Neighborhood

When you’re thinking about moving think about how satisfied you are with the neighborhood as a whole.

Should You Renovate Or Move

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Is the area safe? Do you live very close to your children’s schools? Does your neighborhood have prime real estate in your city? Are many of your close friends and your children’s close friends in the neighborhood?

If you’re satisfied with the part of town you live in, but want to make some changes to your actual house, it’s time to evaluate the cost of renovating.

2. Determine the Costs

First of all, get a home inspection to determine what needs doing.

If it would be more affordable to remodel your home and you’re already satisfied with your current neighborhood, it’s best to go ahead with the renovations. However, if you find that your home needs more repairs than you anticipated and you’d like to move to a new part of town, moving to a new

Then, interview a few local contractors to learn about their rates and previous work.  It’s also a good idea to get referrals from family and friends for contractors who can provide quality renovations for your home.

Renovating your home will likely be expensive, especially if you’ve got more than one project in mind. You’ll also need to think about whether your family will need temporary living quarters while the home is being remodeled, which creates an additional expense.

3. Think About the Bones and Structure of the Home

Finally, if your house has good bones, or a good structure, you may be able to sell it without doing too much renovating, so as not to compromise the original structure of the house.

For some tips about what bare essential renovations should be made before selling, read our article about whether to Renovate Your Home or Sell As Is?

If the home means a lot to your family, you may decide that investing in renovations is worth the expense.  As long as the home still meets your family’s needs, being in a house that has a rich family history is always valuable.  But you must weigh the pros and cons of maintaining an older home up-to-date.

If, after evaluating your home’s renovation needs you decide you want to sell your home, visit today and learn how you can sell successfully using our commission-free services!

Author Bio:

Tamiya King is an author who writes on a variety of topics, including health, beauty, fashion, marketing, cooking, and about custom mats.

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  1. Pingback: Tips to Nurse Your Home Back to Life on a Budget — My Personal Finance Journey

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