If you’ve outgrown your current home, you might be considering a move within the next year or two.
Despite your need for more space, you might be having doubts about moving—whether that is because of the financial implications, stress, or personal impact that moving will have on you and your family.
Home renovations are a popular decision for families who want to stay in the neighborhood they love while accommodating their need for added space. 76% of Americans would rather renovate their current home than move.
So, which option is best for you—moving or remodeling? We’ll review the pros and cons of each option below to help you make the best decision for you and your family.
Advantages of Moving
If your current home is worth more than you owe, it may be a great time to sell your house and purchase a new investment. You’ll need enough money to cover your current mortgage, closing costs, moving expenses, and your down payment.
If you don’t love your neighborhood, school district, or the local area, moving will allow you to call a new location home. Also, if you’re looking to downsize, moving to a new neighborhood with smaller homes is an excellent option.
Home renovations can be stressful—loud machinery, bulky equipment, and a construction team in and out of your home can disrupt your day-to-day life during the project. You can prevent living in a construction zone by moving into a new home.
Disadvantages of Moving
Leave the Area You Love
If you are best friends with your neighbors, your child attends a phenomenal school, and you love your local area—moving might not be the best option for your family. Thankfully, there are plenty of outstanding design solutions for Cape Cod homes so that you don’t have to leave the current benefits of your neighborhood and community.
Expensive Moving Costs
Did you know the average cost of a local move is $1,250 and a long-distance move is $4,890? And that doesn’t include the real estate commission, home repairs, or home inspection costs you’ll need to pay before you move into your new home.
Selling your current home, buying a new house, and packing your entire life into boxes can be an extremely stressful experience. If you have significant life events or family commitments that require your attention, a home remodel might be a better option for you and your family’s well-being.
Not Finding What You Want
Do you want a large, spacious kitchen? Tall, elevated ceilings? Beautiful, custom cabinetry? You might not find all the features you want in a new home—but when you choose to remodel, you can pick and choose the exact features you want to add value, beauty, and functionality to your Cape Cod home.
Advantages of Remodeling
Increase Your Home’s Value
Home remodeling is one of the best ways to add value to your home. For example, building up or building out is an excellent way to add functional space to your home and increase your house’s market value.
You might also consider the pros and cons of a master bedroom addition—you can accommodate extra family members, enjoy extra closet space, or relax in a private retreat while adding value to your home.
Customize to Fit Your Needs
You may want to move because you are frustrated by some common problems with your Pittsburgh home—like a small, outdated kitchen or a lack of bedrooms.
Thankfully, a dependable home contractor can provide home remodeling solutions that will customize each room in your house to fit your current needs.
Save Money on Moving
Both moving and remodeling can be expensive. But wouldn’t you instead contribute the money you would spend on moving costs toward increasing the value of your current home?
Stay in the Area You Love
Moving isn’t the only option available to live in a beautiful, functional house. If you want to stay in the home and neighborhood you love, there are dozens of home addition solutions available to accommodate you and your family’s growing space needs.
Disadvantages of Home Remodeling
Life During Construction
The most significant disadvantage to home remodeling is temporarily living in a construction zone. However, if you consider the stress of showing your home, completing necessary home renovations, and the disarray of moving boxes, home remodeling isn’t much more disruptive than moving.
You’ll likely face a few surprise expenses during your home remodel, especially for large-scale projects like a whole-home Cape Cod renovation. Add some extra money to your home remodeling budget for additional costs so that you won’t be surprised by unexpected issues or last-minute add-ons.
Before making your final decision on moving or renovating, ask yourself these questions:
- Is this the right time to sell our house according to the real estate market?
- Is this the best time for my family to adjust to a new home?
- Will we miss our old home and neighborhood?
- Can we renovate our house for less than it will cost to move?
Remodel the Home You Love with Action Builders
We understand that moving can be a stressful, emotional experience for you and your family. That’s why we are committed to helping you stay in the home you love with beautiful, functional home additions that can accommodate you and your family’s lifestyle and needs.
Action Builders is an experienced design-build company that serves the Pittsburgh area, including Sewickley. Call us today for a free estimate to learn how a dependable home contractor near you can build the home of your dreams!