It comes the time every family faces when you realize,
you’ve outgrown your current home. Your
lifestyle has changed, you need an in home office, or there just isn’t enough
room at the kitchen table anymore.
Whatever the reason it may be there are two options you are left with:
adding onto your current home or buying a larger home.
Here are a few questions to ask yourself before making the tough decision:
Here are a few questions to ask yourself before making the tough decision:
What are the benefits of remodeling? It is usually less expensive than purchasing
a new home, unless you’re the type to splurge on expensive extras. But if you take your time, you can remodel
one room at a time and have it done the way you want it without
overspending.
What are the cons of remodeling a home? Dust,
dumpsters, drilling, clutters, other excess noise and expense comes with
remodeling. Living in a construction
zone is not ideal and can be dangerous depending on the type of remodel. Plus, you will be sharing your home with many
different contractors. If your budget
allows, rent a home to avoid the mess and disturbance.
What are the advantages and disadvantages of
purchasing a new home? Buying a larger home is exciting at times and can start
a new life chapter for your family and you’ve learned from mistakes you’ve made
in your first home. But it may set you
back financially and significantly more than remodeling. Before you decide, run the numbers to find
out how much each option will cost.
Will building a home addition pay off when it’s
time to sell? Adding a room because you need space and plan on staying in the
home is one thing but improving the home with the intention of selling the home
is another. Depending on the updates you
make, you may not see your full investment.