Remodeling vs. Moving

When you’ve lived in your home for an extended period of time, you may consider a remodel to modernize its interior. While remodeling can help make your home even more personal, it is a major undertaking and financial investment.

Remodeling can boost property value, or it can transform your home. But you could also decide to move and start fresh in a house that already has everything you’re after.

How do you know the best move? The decision isn’t easy, and there are pros and cons to each. In this article, the New Jersey home remodeling experts at Barrister Home Construction will discuss the benefits and drawbacks, so you can make an informed decision. And remember: if you’re looking for designers choice custom homes in New Jersey, reach out to Barrister Home Construction!

The Pros and Cons of Moving

Moving to a new location can be an exciting start. You may be able to expand, live in an area you’re interested in, and gain access to features or amenities your current home doesn’t have.

While moving can present many benefits, it also has its setbacks. For one, house prices are higher than they’ve ever been. Bid wars are intense, and buyers often find themselves in competition with other potential homeowners.

Relocating is exciting, but it is also stressful. In addition to finding a new property, you will have to handle the sale of your current home.

Moving also means saying goodbye to your neighborhood and all your favorite locations. Parents may have to transfer children to a new school if they move into a new district, which means making new friends and getting used to an entirely new community.

The Pros and Cons of Remodeling and Renovation

Remodeling your home is time-consuming depending on the scale of the project. However, you can carefully plan out what changes you’ll make and work with a skilled contractor to minimize disruptions.

Although it can be expensive, remodeling allows you to revitalize your home without having to leave the comfort and familiarity of your neighborhood. Additionally, you will be able to recoup the costs of remodeling should you decide to sell in the future.

Remodeling can boost property value, but it can also lower general living expenses by improving energy efficiency. The return on investment (ROI) for home remodels is rooted in location, project, and lifestyle improvements.

For example, your personal ROI may not be rooted in financial gain if you intend to stay in your home. Instead, adding something such as a wooden deck or new garage could make your home more comfortable and enjoyable for years to come. Any way you cut it, however, a home renovation project in New Jersey is a big decision.

Does Remodeling a House Raise Its Sale Value?

Ultimately, how much you recoup from a remodeling project will depend on the starting quality of your house and the additions you make. A general rule to follow is that you should update your home so it matches the value of your neighbor’s.

Having your home appraised before you schedule any remodeling projects can help you get an idea of how much you could potentially earn if you decide to remodel before moving.

For many homeowners, remodeling is not always about selling at the highest price. Instead, they want to make their homes even better by installing new features, updating old windows and doors, and adding new amenities.

Conclusion

Moving and remodeling both have advantages and disadvantages. For those whose homes are far behind the times, remodeling may prove more beneficial if they don’t want to sell for less and pay more to relocate.

On the other hand, remodeling does require a decadent financial investment depending on the project(s) in question. Working with a reputable contracting company, such as Barrister Home Construction, will help you get the greatest value and ROI on all your home renovations. We have been doing remodels for over forty years in northern New Jersey, and we are knowledgeable about all aspects of such a project.

If you’re thinking of a remodel in New Jersey, give Barrister Home Construction a call today at (201) 891-7774, or read more about our home renovations services here.