It’s no secret that the housing market is crazier than ever. If you’ve been feeling dissatisfied with your home, you might be asking, “should we remodel or move – is it a good time to work on our home?”
Today, we’re weighing the benefits of remodeling vs. moving. As material shortages, labor demands, and rising home prices are on everyone’s minds; it can be hard to know what’s right for your home and finances. Keep reading for five reasons why we think remodeling is the better option!
1. Stay in the Neighborhood You Like
Anyone who’s ever house-hunted knows how hard it is to find the right neighborhood. Remodeling means you can stay in the community you love. It’s not easy to replicate neighborhood charm, deep and lasting friendships, or lifelong neighbors you know and can depend on.
2. Avoid the Homebuying Rollercoaster
Discovering the perfect home feels like looking for a needle in a haystack. Moving is incredibly stressful, from the volatile market to bidding wars to closing costs to showings to cleaning to packing up your entire life! As home prices continue to climb, it’s not an easy task to find an affordable home that checks every box on your list.
3. Avoid Inspection Surprises
Few things are less fun than waiting out the inspection results of a home you’re wanting to purchase. Significant surprises could mean thousands in unexpected costs. Plus, many sellers aren’t even accepting offers requiring an inspection in this hot market! A major upside of investing in your current home is knowing its history. You’re already familiar with your home’s strengths, weaknesses, and any past improvements you’ve made.
4. Choose the Design You Want
One of the best parts of remodeling is transforming your home in ways you’ve always imagined! Remodeling gives you the chance to choose what you want, from designs to materials to finishes. Whether it’s minor tweaks or significant changes, a redesign can help you fall back in love with your home and create spaces that work for your family.
5. Add Value to Your Current Home
Beyond staying in a place you love, remodeling adds value to your home. In light of rising interest rates (which are still historically low), it might be the right time for you to take advantage of present financing options. Remodeling is a long-term investment you get to enjoy for years to come!