Is It Cheaper to Remodel or Move?
[fa icon="calendar"] July 30, 2021 / by Home Services Expert
There could be many reasons that you may want an upgrade or different home. It could be that you have a growing family, are taking care of relatives, need a home office added in, or any number of other things. It’s possible you just don’t like the fit and finishes of the home, or everything seems to be falling apart.
In Chico and many other places across the country, home prices have risen significantly in recent years. Making the decision to remodel or move will involve a lot of considerations, but price will likely be one of the main ones.
Here is how to figure out if it will be cheaper to remodel or move:
Figure out What You Want in a House
Make a list of things that are non-negotiable in your new or updated home. If you know you need an extra bedroom, write that down. If you are set on an extra bathroom or walk in shower write that down. Figuring out the size and scope of things that you want to have is going to be key to understanding whether remodeling or moving is cheaper.
Side note: if your desires involve something that is physically not possible on the current property, such as a larger yard or being in a different part of town – then you have already answered your question and it looks like there’s a move in your future!
Look at Houses for Sale
With your non-negotiable features in mind, start looking at homes in your area and get an idea of the cost. There are so many resources today such as Zillow.com, where you can find out what houses are selling for and what features they offer.
As you’re looking at housing options, be careful to note and dig into any “amazing deals” as they may have major repairs that are needed. To get a good idea of prices for your desired type of home, base it off of houses in good condition with identical features that you want – houses you’d consider buying. You may even want to tour a few homes to see what you’d be getting if you chose to move.
Get a Remodeling Quote
The next step is to get a home remodeling quote from a general contractor such as Experts In Your Home. With your list of features in hand, our team can give you an estimate of what it would cost to complete the remodeling you want and what the cost would be.
Do a Cost and Benefit Comparison
Armed with the knowledge of what buying a different home would cost vs. what it could cost to remodel your existing home, you can now compare the two and see what makes the most sense. You can see what you would get for your money, and whether that makes financial sense in your situation.
Call Experts for Help
At Experts In Your Home, we are expert new home builders and home remodeling specialists. You can call us to get the conversation started, we can answer any questions, and we can give you a remodeling quote that will help you in your decision to move or remodel. We’ve been in the building and remodeling industry since 1948, give us a call or contact us online today!