How To Decide Between Remodeling Or Selling Your Home

Should you stay or should you go? There comes a time in many homeowners lives when they must ask themselves a very important question; should they remodel the home they’re in or move? The answer to the question is complicated, there are dozens of factors to consider, and they range from emotional, to financial. If you’ve found yourself facing this quandary we’ve put together a few points to consider as you make your decisions.

How Strong Is Your Attachment To Your Home?

If your home is where you’ve made many of your memories, it may be even more difficult to pack those boxes. While it’s important to remember that you will make just as many memories in a new home if there are additional sentimental factors it might be better to stay. A good neighborhood, with beloved neighbors, and good schools is something that’s not always easy to come by. These are all items to consider for your pro-remodel list. Likewise, bad neighbors, a dingy neighborhood, and lackluster schools are all things a remodel can’t fix.

What Can You Afford

Creating a realistic budget can be critical to making a remodel or move decision. The number of changes you can afford may or may not make a move worthwhile. If your budget for improvements doesn’t leave you enough leeway for potential issues or updates, a remodel may not be for you. It’s also important to consider, that if you decide to sell the home in the future, those remodels may not be recovered in the pricing.  

Would A Remodel Be Overkill

Compare your current home to those around it. If you’re in a neighborhood where your improved home will be dramatically higher in price, you might not be able to sell it for as much as you would in a different setting. Compare the pricing and value of other homes in your neighborhood, if your home is valued lower a remodel will be much more effective long-term.

Bring Your Questions to Rainbow Construction

If you’re looking for more help deciding on a remodel versus a new home, Rainbow Construction is here to help. Our dedicated team can help you realize the true potential of your current home. With over 53 years of experience and a fantastic reputation, Rainbow Construction can make your dreams a reality. We pride ourselves on providing excellent customer service, professional expert workers, and competitive rates. To learn more about our custom home building, visit us online or give us a call at (301) 843-1018. To learn more about our services and who we are, follow us on Houzz, Pinterest, Facebook, Twitter, and LinkedIn.