Throughout the years, you might start to think about whether you should move house or remodel. There are many factors that could impact your final decision; a completely individual choice will depend solely on what you want the next chapter of your life to hold. Even though it might not seem like an easy decision to make, with the right guidance, it will become clear as to which choice is better for you – both in the present and in the future.
So if this is a decision that you’re currently contemplating, here are some pros and cons against remodeling vs moving house – to help you make your final choice.
Many people opt to remodel their home. Whether this is because they want to stick to a budget or they love the area that they are living in, it’s a popular choice for millions of people around the world. So what are some of the pros and cons that come with this choice?
Pros To Consider:
One main reason why so many people opt to remodel or renovate their home rather than sell up is the fact that you can customize it to suit your individual needs. When buying a new home, there’s bound to be some trade-offs and compromises that you have to make.
Depending on how big these are, you might not have the budget to alter them. To save money, consider customizing your existing home to the standard that you want it. Whether it’s remodeling the bathroom so that it’s more modern, adding a conservatory or another addition, you’ll be able to have your dream home without having to move.
It’s More Budget-Friendly
Another benefit of remodeling rather than moving property is the fact that it will save you money. Unfortunately, unless you have millions in the bank, you’re going to have to look at the price tag. Thankfully, however, with a remodeling project, you won’t have to worry about having a huge budget.
Moving house – whether it’s just down the road or moving across the country is expensive. Which is why so many opt for remodeling instead.
Of course, this will depend on the level of work that you’re having done. But if it’s not a large-scale project, you won’t have to worry about our bank balance taking a beating. Having said that, even if it’s a larger project, you can spread it out over time – perhaps remodeling certain parts of your home in different stages.
Not only will this help you to pay for it over several months (which makes the cost a little more bearable), but it means that you won’t have to worry about spending a lot on a hotel while you wait for the work to be done.
You Won’t Have To Leave Family and Friends
Another big pro of remodeling is that you will be able to stay in familiar surroundings. If you’ve been living there for many years, you’ll have friends and family nearby. Plus you’ll have amenities that you know and love. To prevent the need for starting over, consider a remodel project.
This way you can stay in the area without having to make new friends or having to find a new job. This is a particular benefit for families. Chances are, your children won’t want to relocate. They are bound to want to stay and be with their friends.
Cons To Consider:
You’ll Need To Fork Out On a Hotel
Unfortunately, when remodeling your home you might have to stay elsewhere while the work is being done. Of course, if it’s a smaller project, you can remain in the home – but all of the commotions might end up being too much.
If you’re lucky, you’ll be able to stay at a relatives or friends house during the project. But if you have a larger family, you might have to rent hotel rooms for a portion of the time. This can end up being very expensive – and a cost that you don’t initially factor into the process.
It Can Be Stressful
Home improvement can undeniably be stressful. From the budgeting to the planning and waiting for it to be done, it can feel like a lifetime until your dream home comes to reality. Then comes the prospect of potential delays – putting your plans back by weeks, costing you more and ramping up the price of your temporary accommodation.
Another downside that you could expect is surprise expenses. Throughout the course of your remodel project, it’s likely that you’ll face a cost that you initially hadn’t planned or budgeted for. This is even more likely if you’re having a large-scale project that involves plumbing works, demolition of walls, etc.
Moving home is an exciting prospect – something that millions of people across this country do every year. But many people don’t realize the stress, the effort and the price tag associated with it. Whether you’re a first-time buyer or not, you will want to consider the following pros and cons:
Pros To Consider:
You Can Find Your Dream Home
One big benefit that comes with moving house is the fact that you can find your dream home. Viewing houses with all of the amenities that you’ve ever dreamt of, you can move in without having to do any work. Similarly, you can move to a location that has a lot more to see and do nearby. Just make sure that you fully research the location beforehand though to ensure that it will suit you in the long term.
For example, you can do a simple search like ‘pnw activities’ to see what restaurants, attractions, bars, etc. will be within easy reach when you move to your new home.
You Can Have a Fresh Start
If you’ve been wanting to move for a while – now’s your chance. Your chance to have a fresh start, you can make new friends, start an exciting new career, explore a new area, etc. The prospect of starting over in a new location f is very exciting for many people.
You Won’t Have To Live in a Construction Zone
When you’re moving house, you won’t have to worry about living in a construction zone – unlike when you’re remodeling. The process of moving into a turnkey and not having to worry about the stress of remodeling is very tempting to many.
Cons To Consider:
You Might Not Have The Budget For Your Dream House
Unfortunately, you might not have the budget to get a home that’s exactly the way that you want it. Houses are expensive – no matter where you’re located in the world.
And not only is it challenging, but it’s also expensive to find a home that’s in the state that you want it, in the area that you want to live. It’s likely that you’ll have to compromise and realize that you might not be able to check off all of your tick boxes. Also, in general, the cost of moving home can be more than some people can realistically afford. From hiring movers to all of the other costs associated with it, it’s a big step to take – financially and time-wise.
You’ll Have To Leave An Area That You’re Used To
If you love where you live, then the prospect of moving further afield might not be the best decision for you. A major disadvantage for those who are settled, it will involve you having to start over – often without any connections within the area.