A home remodel can seem daunting, especially if multiple rooms need work. That can make moving look like a more attractive option. But before you decide to pick up stakes and sell, here are 5 compelling reasons to renovate your home instead of opting for a new one.
1. You can customize it the way you want
Moving into a new home can be tempting. It may have bells and whistles your current home doesn’t. But chances are, even a stunning new home won’t have everything on your wish list.
By remodeling your existing home, you can design it exactly the way you want and tailor it to meet your specific desires. Do you need an extra large kitchen island for cooking prep? Or maybe a bathroom with aging in place features for elderly parents who may need to move in with you? Remodeling your current home will allow you to control elements like this.
Plus, if you’ve lived in your home for a while, you know its quirks and potential trouble spots, and which areas to focus on fixing. A new home comes with new unknowns, so what may appear shiny from the outside may be hiding some serious issues you only uncover after you take ownership.
2. Build equity
Housing prices have been sky high lately and it’s definitely a seller’s market. It can be tempting to try to take advantage of that by selling. But you’ll also need to buy a new home of your own, and those same high prices could be a barrier to getting what you want.
If you’ve been paying into your home for several years, you’ve likely built up some equity in it. Over time, that equity will continue to grow, making your home even more valuable. Remodeling your home can also compound that equity. Over time, you’ll recoup the costs of your renovation and increase the overall value of your house.
3. Keep Your Location
The location of your home likely was a factor of why you chose it in the first place. If you have children, maybe the local school district played a role. Or perhaps you liked the proximity to shops and restaurants. Maybe you fell in love with nearby hiking trails. Whatever it was, you picked it for a reason.
Moving to a new home may mean having to sacrifice some of the things you like about your home’s location. Remodeling instead allows you to keep enjoying your neighborhood and the friends you’ve made there. You may even get to know them better by entertaining more when your renovations are done.
4. Avoid moving costs
Moving can be expensive. From minor improvements your house you may need in order to sell it, to relator and moving fees, those expenses can add up. And as we mentioned above, you still may not get exactly what you want in your new home. Or it may need renovations of its own.
Instead, you can use those funds to remodel your existing home and create the space(s) of your dreams, in a location you love.
5. You’ve built an attachment to your home
Your home is more than simply a collection of studs, beams, nails, and other materials. Chances are, holds years of memories as well. You may have become a parent while living there. Your children may have taken their first steps there. Or maybe gotten married in the backyard. You may have spent countless holidays there.
Instead of giving up your home — and the space where you created those memories — to someone else, remodeling lets you stay and build new ones. And it can also allow you to pass your home on to other generations of family so they can create additional memories of their own.
Are you thinking about a home remodel and aren’t sure where to start? We’d love to discuss your project. Simply schedule a conversation with us!