You have lived in a house for some years. That means you have become fond of it. However, it might no longer be what you want or need. As such, you are torn between moving and remodeling. The answer for whether to move or remodel is dependent on several factors.
Here is the ultimate checklist that you should consider when deciding whether to move or remodel your home:
Is the House in Your Heart?
Emotions have a significant influence on the decision to move or remodel. Therefore, think about your connection with the house and the neighborhood. If you have strong emotional connection with the home, renovating it might be the best option. When done properly, remodeling will enhance the look and functionality of your house.
Can You Come Up with a Realistic Budget?
When deciding whether to move or remodel a home, realistic budgeting is very important. Think about the duration for which you can stay in the home after remodeling it. Have your goals in mind and identify all financial risks that are associated with your aspirations and dreams. Budget accurately if you opt to renovate the home instead of moving out.
Is the Home Spacious Enough?
One of the reasons to move is the need for extra space. However, you can create more space with a smarter layout. For instance, you can increase the square footage of your home with additions. You can also reconfigure your home to add more space and allow your family a more efficient layout. Thus, you can add space without moving out of your home.
How Long Will Remodeling Take?
Remodeling a home entails energy and time commitment. You have to think about the project and stick to it for some time. For instance, a kitchen remodel that involves installation of new cabinets, countertops, floors and appliances can take up to 6 months. Remodeling a home will take longer if wiring, plumbing and ductwork have to be done. This combined with bathroom remodeling will take longer. Therefore, find out whether you have sufficient time for home remodel to know the best way to go.
Basically, the decision to move or remodel is largely personal. However, you need to make these considerations to decide what works best for you.