If you've been living in your current home for a while, you may start to feel like it's time for a change. Before you start packing up and searching for a new home, consider remodeling instead.
There are several factors to consider when deciding whether to renovate or move. It's worth asking yourself whether it might be possible to transform your existing home into your ideal living space. If your home doesn't have the potential to expand enough to accommodate a growing family, or if the location of your home is inconvenient, you may be better off moving houses.
On the other hand, it may surprise you how much you can transform a house with a clever remodel or an extension. If you're generally happy with your home's location, it's worth asking a local contractor to look at your existing space and suggest ways to make it larger or more practical. Once you've seen what's possible, you'll be able to compare it with new properties in your price range more easily to help you decide whether to remodel or move.
Cost Savings
Cost is often one of the most important factors for homeowners deciding whether to remodel or move. Home prices vary widely by area, so consider how much the value of your existing home has increased compared to homes in the area you wish to move to.
Furthermore, there are additional costs in buying a home including the appraisal, home inspection fees, and realtor commissions. Overall, you should plan to pay the equivalent of between 3% and 5% of your mortgage amount on closing fees.
Remodeling can often be done at a fraction of the cost of moving. You can choose to remodel specific rooms, make additions to your home to expand living spaces, or make smaller changes to your home to create a new look and feel. One of the biggest advantages of remodeling is the cost savings compared to buying a new home.
Moving to a new home can be incredibly expensive, especially if you're moving to a more expensive area or a larger home. On the other hand, remodeling can often be done at a fraction of the cost of moving. You can choose to remodel specific rooms or make smaller changes to your home to create a new look and feel.
Customization
Remodeling allows you to customize your home to your specific needs and wants. If you've been living in your home for a while, you may have a better sense of what you need for function and comfort. Often, more storage space is a consideration. Perhaps your bathroom is not what you would envision.
Some ideas for remodeling include optimizing space, cosmetic improvement, custom storage areas, and even considering energy efficiency.
From adding an extra bathroom to creating an open-concept living space, the possibilities are endless. You can work with a contractor or designer to create a custom remodel that meets all of your requirements.
Neighborhood and Community
Moving to a new home often means moving to a new neighborhood and community. If you love your current neighborhood and community, remodeling allows you to stay in the same area and continue to enjoy all of the things you love about your current location.
You can also add new features to your home that will make it more enjoyable, such as an outdoor living space, outdoor kitchen, or even a home gym. According to the National Association of Realtors homeowners feel a major sense of accomplishment and get more enjoyment out of their home after a remodel.
Emotional Attachment
Many people become emotionally attached to their homes, especially if they've been living in them for a long time. If you have a strong emotional attachment to your home, remodeling can be a great option. It allows you to update and improve your home while keeping the memories and sentimental value that you've built up over the years.
Environmental Impact
Moving to a new home has a significant environmental impact. From the fuel used to transport your belongings to the energy used to build a new home, the environmental costs can be substantial. Remodeling, on the other hand, can be a more environmentally friendly option. You can choose sustainable materials, add energy-efficient appliances, and create a more environmentally friendly home without the need for new construction.
Remodeling your home can be a great option if you're looking for a change. It can save you money, allow you to customize your home to your specific needs and wants, keep you in the same neighborhood and community, allow you to maintain your emotional attachment to your home, and be more environmentally friendly than moving to a new home. If you're considering a change, it's definitely worth considering remodeling as an option.
If you've decided that remodeling your home is the right choice for you, it's important to work with a trusted and experienced construction company to make your vision a reality.
At Bishop Builders, we have a team of skilled contractors providing contracting services to help you create the home of your dreams. From small updates to major renovations, we are committed to providing high-quality craftsmanship and exceptional customer service. Contact us today to learn more about how we can help you transform your home.
We are your trusted Dallas contractor for remodels and renovations serving the greater north Texas/DFW Metroplex. We also provide services as a storm damage contractor. We can work closely with your home insurance company to help you file insurance claims including wind damage, water damage, hail damages, and more.
