Should I Remodel My House or Move?
Your house no longer suits your needs. So what should you do? You have two options, right? You can either remodel your house or move. There’s a certain allure to renovations, but moving might just be the better option, depending on what you want to do.
Managing Your Wants and Your Needs
Do you want four bedrooms, or do you need four bedrooms? Make a list of your wants and needs before you make any major decisions. This is really important. You don’t want to accidentally forego things you actually need because of things you want. You also don’t want to get caught in a bidding war for something you don’t really need. Your list of wants and needs will help direct your home search and renovation quotes.
Getting Quotes and Comparing the Cost
You need more information before you can make a decision. So start by getting quotes regarding the cost of renovating your house. Then take a look at the houses that would meet your criteria. Consider that there might be additional expenses. When renovating, you might need to live somewhere else for a little while. When purchasing a new house, you might have real estate costs or moving costs.
It’s important to make an apples-to-apples comparison. Don’t compare renovating your property a little to buying a house with all the bells and whistles.
The True Cost of Renovations
Always keep in mind the fact that renovations can cost more than you think. Unexpected things can occur. Get a thorough home inspection before committing to any renovations. It’s possible you could open up a wall and find major termite damage that you have to address, or you could find foundation problems or roof problems.
If you do find major structural issues, you’re going to have a hard time selling your house on the market. Luckily, you’ll still have the option of selling to a home buying company. Cash home buyers can purchase homes in any condition because they’re purchasing the homes themselves.
Considering the Future
Your needs today aren’t always your needs tomorrow. In addition to thinking about the needs and wants you have today, you should be thinking forward into the next few years. You shouldn’t renovate your house only to find that it doesn’t have everything you need five years from now. You also shouldn’t buy a house that’s too small for your needs in a few more years.
Location, Location, Location
You also want to take location into consideration. If you’re going to be moving in the future regardless, renovating may not be worthwhile. If you’re thinking about moving to another town, you could have a great opportunity already. And you might also be able to save money by moving to a more affordable area to get the features that you need.
Consider, you might have a very expensive house that doesn’t meet your needs in an expensive area. You could potentially sell it and move to a less expensive area and get a home that does meet your needs.
Taking the Next Steps
So should you remodel your house or move?
It’s a personal decision. If your house can be remodeled into what you want it to be, then remodeling might be the answer. But if you need huge renovations, it’s more likely that moving will be more affordable.
Your first step is going to be finding out how much you can actually get for your house if you sell it. The best way to do that is to contact We Buy Houses OKC. By contacting us, you can start the quote process and find out how much you could get for your property today.