How To Decide If You Should Remodel Or Move

Dated: July 3 2019

Views: 190

HOW TO DECIDE IF YOU SHOULD REMODEL OR MOVE

HOW TO DECIDE IF YOU SHOULD REMODEL OR MOVE

After living in a home for several years, it can be easy to discover things you may not be crazy about. While some things can be a quick fix, there may be major changes that make you wonder if it is worth the investment. At this point, you're probably asking yourself if you should remodel or just find a new home. As you have probably realized, this isn't always an easy choice. There are many factors that go into this decision. Here are some things to consider when deciding what will work best for you.

1. Determine which is more cost-friendly

While both options will have costs, one will have more than the other depending on your situation. Some of the costs of selling include agent commissions, moving costs, minor repairs, the costs of a new home, and potential upsizing costs. The costs of remodeling can include permits, architectural plans, materials and labor, and any other additional costs incurred in the process. 

2. Look into the current housing market

Depending on whether your local real estate market is hot, it might make more sense to just sell if houses are selling quickly around you. By talking to a real estate agent, you can find out what to expect in terms of days on market, average sales price, and other important factors when it comes to selling a home.

3. Decide if your roots are deep 

Is your home more than just a home to you? If you and your family are actively involved in the community, remodeling may work best for you. On the flip side, if there are better schooling or job opportunities in a different neighborhood, or you already spend hours a day traveling to those locations, selling may be a better option.

4. Decide if a renovation can solve your problems

Take the time to decide if the problems with your home are fixable. Is it really the house, or do you dislike your neighborhood? Do you have to spend an hour driving one way to work? Do you need a lot more space? If your answer to questions like this make you realize renovations won't solve your problems, consider that it may just be time to put your home on the market. 

5. Consider the ROI on your remodel

Calculating your return on investment will help you determine two things - first, if a remodel will cost you less than selling your home. It will also help you determine if you will be able to make your money back on a remodel if you choose to sell in the future. Look into the Cost v. Value Report for the last year, which can guide you on the most and least cost-effective improvements.

If these considerations make you realize it is time to sell your home, give me a call today (210)410-9119!

Blog author image

Celina Garza

In today’s highly accelerating real estate market, there is no substitute for an exceptional, knowledgeable real estate agent. As a native Texan and Realtor in San Antonio and surrounding areas, yo....

Latest Blog Posts

Understanding Home Equity

Home equity…Everybody wants it, but what exactly is it, and how do you get it?Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against

Read More

Back To School

August is here and we are officially back to school! Students are enjoying the last days of summer and parents are preparing for school supplies. For some parents, the funds can also be

Read More

4 Things You Can Do If Your Home Sells Before You Find A New One

Ideally, when you are selling a home you’d want to find a new place to move into. However, this isn’t always the case. Sometimes your home sells before you even finish searching for a new one.

Read More

8 Reasons Why Real Estate Is The Best Investment

8 Reasons Why Real Estate is the Best InvestmentReal estate has long been considered a solid investment for many reasons. It is a relatively safe and easy way for people to build wealth beginning

Read More