Many homeowners at one point or another are faced with the dilemma of moving vs. remodeling. Being that every situation is unique, it is important to weigh both sides of the equation before determining what decision makes sense for you. There are three key questions to ask yourself when determining whether to move or remodel.
1. How do you feel about your current location in terms of safety, commute, and proximity to friends and family?
2. How do you feel about your current neighborhood?
3. How do you feel about your lot in terms of size, etc.?
If you are comfortable with all of these things, then the decision to remodel is probably the right one for you. Cost is another factor to consider when determining whether to move or remodel.
Shown below are some of the costs associated with moving and remodeling.
Costs to Consider when Moving to a New Home:
• Prep Costs to Move
• Real Estate Commission
• Settlement Costs
• Moving Expenses
• Home Inspection of New Home
• Miscellaneous Decorating of New Home
• Miscellaneous Utility Set-up
• New Home Furnishings
• Your Time
Average Costs of Remodeling Projects:
Family Room Addition: $70,000-$100,000
Master Suite Addition: $100,000-$150,000
Contact Jennings & Woldt Remodeling today for an estimate on your next project!