After living in your home for several years, it can be easy to discover things you may have grown out of. For me, it was the need for a home office space that wasn’t the dining room counter. While some things can be a quick fix, you may desire major changes that make you wonder if it’s even worth the investment. At this point, you’re probably asking yourself if you should remodel or just find a new home. I hear ya, this isn’t always an easy choice. There are so many factors that go into this decision! Here are some things to consider when deciding what will work best for you.

1. Determine which is more cost-friendly for you

While both options will have costs, one will have more than the other depending on your situation. Some of the costs of selling include agent commissions, moving costs, minor repairs, new home market premiums and potential upsizing costs and your sanity. The costs of remodeling can include hiring a designer, permits, architectural plans, materials and labor, potentially having to rent a place during the renovation, and your sanity! https://www.houzz.com/ is a great resource to shop home designes and get ideas.

2. Look into the current housing market

Depending on whether your local real estate market is hot, it might make more sense to just sell, if houses are selling quickly around you. By talking to a real estate agent, you can find out what to expect in terms of days on market, average sales price, and other important factors when it comes to selling a home.

3. Decide how deep your Roots are

Is your home more than just a home to you? If you and your family are actively involved in the community, remodeling may work best for you. On the flip side, Is the commute worth the neighborhood? Is the school district worth your historic, yet cramped, 3-bedroom bungalow that won’t fit more than 1 bathroom? Maybe yes. Maybe no.

4. Decide if a renovation can solve your problems

Take the time to decide if the problems with your home are fixable. Do you have the space to add on that Master ensuite? Will your HOA allow a 2nd story addition? Is this the neighborhood you want to live in when the work is done?  If you answered “Not Really” to any of these questions, you realize renovations won’t solve your problems, consider that it may just be time to put your home on the market. If you answered “Yes” then let’s build your dream home right where you are!

5. Consider the ROI on your remodel

Calculating your return on investment will help you determine two things:  if a remodel will cost less than selling, and what you will be able to recoup if you choose to sell in the future. Please note, do not use HGTV as your renovation cost reference…. That is Fantasy land. You do not live there. Check out this Cost v. Value Report to give you an idea of the most and least cost-effective improvements. https://www.remodeling.hw.net/cost-vs-value/2021/west-south-central/ . With that said, I believe that sometimes you just have to stop overanalyzing and go for what you want!

If these considerations make you realize it is time to sell your home, call me! If you’re ready to remodel, call me! I know people.