When it comes to decisions regarding our homes, there seems to be an age-old question. Should we relocate or should we remodel? There are many people who may want to offer advice on which way you should go, but in reality, only you can decide. Although this article isn’t meant to give you the answers, it will hopefully help you determine what is best for you and your family.
For those who need more space and thought the answer was to sell and buy a larger home, perhaps the solution to the space crunch is an addition or extension. This solution also works well for accommodating merging families. Just as there are many considerations in the decision to relocate or remodel, there are many factors to consider in choosing to remodel your home in order to accommodate grown children or aging parents.
Perhaps the biggest issue in opting for extended family living is that of privacy. With the proper remodel, good communication and firm agreements, this option can have many significant financial advantages.
Perhaps you want to downsize or prepare for a scaled back lifestyle or retirement of sorts. In that case you may want to prepare your home for the next phase of your life. Just because you may be retiring from your business activities doesn’t mean you will be retiring from life. This may be the perfect time to make those changes in your home to suit your new life-style. If you are retiring and want to remain in your house, be sure to look into the many remodeling options for “aging in place.”
As you contemplate the advantages and disadvantages of moving vs. remodeling, there are definite location factors to consider. These factors will depend on a number of things including your age and the age of your children, proximity to activities that you and your family enjoy, and the neighborhood itself. If you have children in school, you may want to avoid disrupting them. This is a strong incentive for remodeling instead of moving. There may be other advantages to staying in your current home. Assuming you decide to remodel instead of moving, keep in mind that a well-done renovation will add value to your home, so when the time does come to sell, your home will be worth significantly more.
If a careful analysis of your living situation indicates that it is time to sell, I urge you to find a home stager to assist in the process. A good home stager will give you an honest assessment of your home, coordinate any needed repairs, assist with the re-arrangement of furniture and will help in the decoration of your home for a fast sale at the best possible price.
Whether you choose to remodel or to relocate it is vitally important that you choose to work with professionals who will help you optimize your future living arrangements.
Lorraine Hart is the president and senior consultant for Ideal Consulting. Ideal has been providing business consulting, coaching, and training of small businesses in the construction industry since 1992. Lorraine has been writing and managing content for numerous organizations for over 25 years. She is a national member of NARI and contributor to its national blog. She is also a regular contributor to Remodeling Today and the coordinator and editor of the weekly home articles for the Houston Chronicle. On top of all that, Lorraine is also a member of the GHBA, the Remodelers Council, Custom Builders Council, and the Bay Area Builders.