As your family starts to grow, chances are, you are already beginning to realize the need for a bigger house. However, some people are already comfortable living in their current home and wouldn't want to move to another one. Should you remodel and expand your house or should you move out and buy a bigger one?
There are certainly a lot of pros and cons to this scenario and one should definitely weigh their options before making a decision. Trulia listed some of the things you need to consider and see whether a remodel or a move is the right decision for you.
Home Remodeling vs. Moving
The publication noted that the costs of remodeling are likely less expensive than it would cost to move to a bigger house. It would also work best for those families who are already located in an area near their school or workplace. Remodeling may also be the best option for those who have already grown fond of their neighborhood.
Unfortunately, remodeling also has its disadvantages. The publication reported that one should take into account the noise and dirt that come with remodeling. It would be great, however, if you find a temporary house to stay in.
You should also realize that adding rooms or features to your home will not promise a return on investment. As previously reported here on Realty Today, not all remodeling projects offer a return on investment. So, if you are only remodeling for the sake of offering a better and more spacious space to live in for your family, you should not keep your hopes high and expect to get a higher house value in return.
While remodeling seems like a more sound option for many of you, the aforementioned publication noted that there are several advantages that come with moving to a bigger house. According to the outlet, moving can be more hassle-free and less time-consuming than remodeling your current home. It may also signal the start of a new chapter in your life as well as your family's.
