Living in a home that’s slowly beginning to deteriorate is frustrating. You might be annoyed at trying to prepare for the day in an aging bathroom. Or you might be embarrassed to entertain guests in an outdated kitchen. Many parts of a home deteriorate at similar rates when they were all installed at the same time.
Facing a major home remodeling project could leave you wondering if it would just be more financially feasible to move. Exploring when it might be cheaper to remodel versus moving helps you make the best financial decision to improve your home environment.
Seek a Professional Remodeling Quote
The first thing you’ll need to do is find out how much it will cost to make the changes you need in your home. With today’s modern materials and equipment, Rancho Santa Fe kitchen remodeling and whole home renovation contractors can typically offer you several options to fit a wide range of price ranges. In many instances, homeowners can find solutions to replace aging materials that are more affordable than they expected.
Depending on your needs, a remodeling contractor might also be able to do the project in phases. For instance, opting to do the room that needs work the most first can buy you time to secure funds for the next phase when it arrives.
Check the Current Real Estate Market
Remodeling projects tend to increase property values. Meanwhile, moving while your home is in need of care could reduce your property’s selling price. Although buyers tend to accept they may need to make minor changes, they often balk at homes that aren’t move-in ready.
Taking a look at the current asking prices for homes in nearby communities can give you a better idea of whether you’ll receive the amount you need for a comfortable move to a new house. Sometimes, it might be better to cover the costs of remodeling so you can enjoy it while you wait for the market to change in the future.
Factor in Common Costs for Moving
Once you have an estimate for your remodeling needs, you can explore the potential costs of moving. On top of paying closing costs and other expenses for buying a new home, you might also need to put deposits down for utilities and pay to set up other services for a new house.
If you need to hire professional movers, it’s also worth considering how much it will cost to pay a company for packing and transporting your belongings. A new house could also require furnishing it with new equipment, such as kitchen appliances, along with painting, which could align with what you’ll need to pay for a remodeling project.
Consider Potential Emotional Costs
Money matters, but you may also need to consider non-financial costs. Moving is an emotional experience that requires leaving your home behind. If you have children, they may struggle with changing schools or leaving their neighborhood friends. Or you may face a longer, more stressful commute to work.
Opting to stay where you’re the most comfortable eliminates the stress of moving, and you’ll enjoy the benefits of being able to feel happier faster in your newly remodeled home.
If you decide to remodel your home, make sure to work with experienced professionals. The team from Forever Builders are the experts in whole home, bathroom, and kitchen remodels Rancho Santa Fe homeowners can trust to ensure their visions become reality. From design to completion, we’ll help you create the home you’ve always wanted, meeting all your expectations while keeping your costs within budget. To find out more about our outstanding remodeling services, give one of our friendly team members a call today.