Should I Remodel My House or Move?
After you have lived in your house for years, you may discover that your home does not fit you anymore. It may be too small for your growing family or too big, especially if your kids have grown up and moved out. Or maybe your home is old and needs some work. If you are unsatisfied with your current residence, you have two options: renovate it so it will meet your preferences, or move to a new home. If you cannot decide what is best for you, you should consider this list of the following factors.
Advantages of Moving
Moving to a new home has many advantages, especially compared to remodeling:
- Possibility of new investment. If your current residence is worth more than you owe, it may be a good idea to sell it and buy another house that will be your new investment. However, you need to make sure that you will have enough money to cover new mortgage payments, moving expenses, closing costs, down payments, and other costs associated with the purchase of a new home.
- New Location. If you do not like your current neighborhood or school district, or you live too far from work, finding a new home in a better location is a good idea. Also, if you need to downsize, you can move to another neighborhood with smaller homes.
- Avoid renovations and construction. Remodeling is an expensive, time-consuming, and stressful experience. You will have to buy materials, hire contractors, use heavy and noisy machinery, and live in a construction zone. You can easily avoid all this if you decide to sell your current home and move to a new one.
Advantages of Remodeling
Remodeling has also its benefits, including the following:
- It increases the value of your home. Remodeling your home is one of the best and most effective ways to increase the value of your home. If you add more functional space, for example, your home will become bigger and therefore more expensive. This means that you will be able to sell it for a much better and higher price in the future.
- You can save money on moving. Moving to a new home is not only stressful but also quite expensive. Therefore, instead of paying thousands of dollars to a moving company to transport all your furniture and belongings to a new home, it is better to use this money to increase the value of your current home. The amount of money you will spend on moving, realtor’s fee, home repairs, and cleaning is probably enough for a complete bathroom or kitchen remodel.
- You can stay in your neighborhood. You are probably emotionally attached to both your home and neighborhood. If you really love the area you live in, then you should not sell your home. It is better to improve your house, remodel it, and make it a better place for you and your family.
When deciding between relocation and remodeling, there are also certain questions you should ask yourself:
- What do you want in your new home? Make a list of things that your current home is missing: a bigger and more modern kitchen, more bathrooms, bigger bedrooms, and whatever else you might want. When the list is ready, reread it and decide what is better — to remodel your home or to move to a new one.
- Do you like your neighborhood? If you are not satisfied with the neighborhood and neighbors, then moving is probably the only right solution.
- How much will you have to spend on repairs and renovations? If home repairs are too expensive, it may not be worth the effort and money.
Sell Your Home Fast to We Buy Salt Lake City Houses
If you decide that selling your home and relocating is the best option but do not want to work with a realtor, there is a cheaper and more effective method to sell your property. You can sell it to a home investor for cash. Home investors purchase homes in any condition and in any location. They do not care about remodeling or cleaning because they buy homes as is.
If you own a property in Salt Lake City and want to sell it immediately, We Buy Salt Lake City Houses will be glad to assist you. Our mission is to help our clients in tough situations and make the process of selling their homes as simple and straightforward as possible. If you have any questions, or you want to know about our work and services, do not hesitate to give us a call.