If you’ve asked yourself, “Should I remodel or move?” – you’re not alone. When homeowners ask this, they’re really trying to figure out if they can change what they don’t like about their home with a remodel that fits within their budget. If not, should they sell their existing home and buy a different one? There are several factors that play into making the decision from practical to emotional ones.
Robert Wood, owner and president of Mountainwood Homes, runs through the factors to take into consideration to make the decision to remodel your existing home or move to a different home.
First, how long do you plan to live in your existing home? Secondly, how important is the location of your home? If you are flexible on where you live, you may have more options. Third, what kind of layout are you looking for? Next, have you looked at what’s available in the market? If you were to go buy a new house, is there available inventory within your price point? Finally, how are you planning to pay for the remodel or the move? Both are not inexpensive so it’s helpful to know your method to pay.
Watch an encore presentation of our webinar that was featured during Portland Housing Month.
In conclusion, your dream home may be the one you already live in after completing some improvements to the layout and materials. Other times, the cost and effort to remodel your home may exceed what you’re wanting to invest. Therefore, moving into a different home may be a better option. Above all, it’s a decision that only you can make, and we would love to help you figure it out.