When you realize your current home is no longer meeting your needs, your wide array of choices basically boils down to two routes you can take: remodel or move. If you are currently weighing the pros and cons of the two options, this article is for you. You may be surprised at all the reasons it may be a better fit for you to move to an entirely new home than renovate your current home to become what you are looking for.
Keep reading for 5 reasons that moving may be better than remodeling.
1. Changing Needs and Lifestyle
Over time, your needs and lifestyle can evolve. A growing family, an empty nest, or changing work arrangements may prompt a shift in your living requirements. Moving allows you to find a home that better suits your current lifestyle and future aspirations, ensuring that your space continues to meet your needs.
In many households, it is not only a change in the number of bedrooms or layout of the kitchen, but something much more significant. Perhaps you find that you are regularly driving to the other side of town and would rather just live there, or maybe a two-story home no longer makes sense as you look to your future.
2. Space Limitations
Remodeling and even adding on to a home can make it feel more spacious, but in some cases this is not a thorough solution to outgrowing a home. If your current home feels cramped, even after considering remodeling options, moving to a larger space may be the solution. A bigger home provides more room for your family to grow, entertain, or pursue hobbies and interests without feeling constrained.
Tampa Buyer's Agents, Eve and Erika say, "Many people assume that remodeling is the more cost effective choice, but moving is often a more efficient use of funds. Extensive renovations, structural changes, and updates can add up quickly. When you factor in the potential stress, inconvenience, and the uncertainty of unexpected costs associated with remodeling, moving to a more suitable home may be a cost-effective and straightforward solution."
Moving to a new home will be a more predictable expense, while remodeling creates a bit of a "blank check" scenario. It is nearly impossible to predict the cost of a renovation, as you don't know how long it will take, whether anything will go wrong, or if you are going to end up needing to rely on takeout and a short term rental more than you originally anticipated.
4. Lower Maintenance
If you move to a new construction home, or at least one that is newer than your current house, you may find that you have taken a significant amount of stress of your shoulders. Older homes tend to be full of unpleasant surprise maintenance, while a new home is likely to require far less of your attention.
Older homes may require significant maintenance and repairs that have been deferred over the years. Addressing these issues can be costly and time-consuming. Moving to a newer or better-maintained home can save you from the hassle and expenses of extensive repairs, and you can likely identify most of the issues through the inspection during the escrow process. You will then have a good idea of the condition of the home, and a chance to back out or ask the sellers to handle the repair before closing.
5. Less Stress
Major remodeling projects can be disruptive to your daily life. Dust, noise, and the inconvenience of living in a construction zone can take a toll on your family's comfort and well-being. The timeline of a remodel is almost always deferred, and even in a best case scenario will likely take much longer than finding a new house to move into. Moving to a new home avoids the disruption associated with extensive renovations, and could get you in to the home you want within a much faster timeline.