If you’re been feeling like you’ve outgrown your current home, you might be considering a move. And with the housing market very competitive right now, you may be wondering should you simply remodel or pick up and relocate? Hi there, Jenevieve Croall here with the JLUX Homes.
For such a simple question, Renovate or Relocate, the answer is actually pretty multi-faceted. What if the idea of moving stresses you out? What if you like your yard and your neighborhood, but just not your house? In that case, you may want to consider a remodel. Remodeling may not be as exciting as buying a new home, but it could be more cost-effective in the end. Advantages of Remodeling are that you may be able to use your home equity to pay for the renovation. Also, remodeling lets you choose exactly how everything is created and finished to suit your needs and tastes. Remodeling lets you stay where you’re at, which can be a huge advantage if you love the local schools, your neighborhood, or the area in general. Since the pandemic has started, remodeling has become increasingly popular as housing prices continue to surge and available inventory remains surprisingly low.
That being said, there are huge advantages too moving! The biggest advantages being you can specifically find that larger or smaller home based on your preferences, as well as potentially choosing a better neighborhood or even moving to an area with better schools. Also, if you move vs remodel, you don’t have to live in a construction zone or deal with contractors.
While there are no hard and fast rules to determine whether you should sell your home or stay put, there are plenty of questions you can ask yourself that will help you decide. If you’re considering moving, but the thought of staying is also present, myself and my team would love to discuss the possibilities of your current home & what is available in a new one!