Decisions, decisions – it seems like they are never-ending. For many people, one of the most challenging decisions they face is this: remodeling vs. relocating. Do you stay, or do you go?
Deciding whether to stay and remodel or move to a new home that suits your needs is often stressful. Moving requires selling your current home, finding a new home, sorting through years of accumulated belongings, packing, unpacking, and reorganizing and decorating in a new place. Home renovation may also require organizing and packing while the work is done.
That leads us to another big question: what is the difference between a remodel vs. renovation?
In theory, they may seem the same, as the words are often used interchangeably. However, there are differences, which we will cover in another blog – accessible here. For now, here is what you should keep in mind:
- Remodeling: Altering the design or functionality of the room
- Renovating: Updating the look or feel of the room, keeping its purpose the same
In this blog, we look at remodeling vs. relocating as a way to make your current home more suitable for your family’s needs. Anybody can renovate at any time, improving the aesthetic looks of the space. Remodeling requires a bit more planning, and with the recommended help of an experienced interior designer to assist in the process.
Remodeling vs. Relocating: Decisions, Decisions
One question some people ask is, should I stay in a small house or upgrade to a larger home for my growing family?
The need for more space is often why people consider relocation. However, with the question of remodel vs. move, it may be more cost-effective to put in an addition to your home. An interior designer can take an objective look at your current living situation and help guide you as to whether it is realistic to consider adding on to your house. If so, you will gain the experience of a professional who knows how to renovate a house and has access to industry experts to reduce any worries you might have.
Home upgrades often feature redesigned and remodeled kitchens, bathrooms, and living spaces. Walls may be knocked down or added, all to increase the efficiency and aesthetic appeal of the home.
Remodeling: Why Should I Choose to Stay?
Deciding between remodeling vs. relocating is often challenging, as there may be sentimental reasons why you want to stay in your current home. Perhaps you have raised your children here, and the thought of leaving makes you sad. You may love the neighborhood and the people you have come to know over the years.
Here are the top reasons to stay and chose remodeling vs. buying a new home:
- You love your current home and do not want to leave
- It may cost less to stay and remodel or renovate than to sell and buy a new home and add in moving expenses
- The neighborhood has everything you want, including good schools, convenient shops and restaurants, and friends
- You know what you have – a familiarity with your appliances, utility bills, and potential upkeep costs down the road (you may not have that with your new home)
- If you choose to remodel, you get to choose everything new that you want, personalizing your home to your tastes and style
- Increases the value of your home in the future if and when you do decide to move
- Allows you to be creative with your surroundings
- Creates additional space for your children or grandchildren
- Lets you stay where you are until such time in the future that you will be ready to downsize or make a significant lifestyle change
- Your mortgage may be paid in full
- You love your backyard water views
Home renovation can give you immense satisfaction of turning your beloved home into something even more special than it was. Rather than take out a new mortgage, you may want to consider a home renovation loan that can cover the cost of revitalizing your current house.
Relocating: Reasons to Consider Moving
When contemplating remodeling vs. relocating, there are times when the answer to the question, should I sell my house, is yes. Such as, when your family has outgrown your current home, and there is no way to make it larger or provide additional space. At that time, you should consider a move.
If you are trying to decide whether to renovate or move, here are the top reasons to consider selling and buying a new home:
- You have outgrown your current home, and it cannot be enlarged
- You want a fresh start in a different neighborhood
- There are no emotional ties to the current home or neighborhood
- The value of your current home has made it financially attractive to sell at this time
- You cannot fathom going through a renovation
- You have found the home of your dreams
- It is time to downsize
- Shorter commute time to work
- Want to live closer to adult children and other family members
Is it better to remodel or buy a new home?
When asking yourself, should I renovate or move, you need to look at the big picture. It helps to make a list of the pros and cons of each option. That way, you will see if it is better to sell or stay and renovate or remodel.
Do you need a fresh perspective as to remodeling vs. relocating? If so, I am happy to come and take a look at your current home and advise you on your options.
HK Interiors can help you transform your current home or office into the vision you desire, or help you redesign your new space. Call 954-401-8542 today for more information.