Questions You Should Ask Yourself

Oftentimes, we encounter homeowners who are trying to decide if they want to remodel their house or move. What we say is that there isn’t one right answer. The goal is figuring out whether you’ve outgrown your house or just the way that your house works.

Maybe the kitchen doesn’t work anymore, you need another bathroom, or the entire layout of the house feels wrong. At some point, it’s time to ask yourself, “Should we remodel, or would we be better off just moving?”

There isn’t one answer for every homeowner, and there are a few questions you can ask yourself to determine what makes the most sense.

What Don’t You Like About Your Current Home?

First, start with what you don’t like about your current home. This could look like a list of problems: layout, lack of storage, an outdated kitchen or bathroom, not enough bedrooms, a small yard, neighborhood, commute or schools. You get the idea.

The point is that some problems are very fixable through remodeling. Others aren’t.

Can a Remodel Give You What You Need?

The next thing to figure out is if a remodel can give you what you need. This is where talking to a remodeler can be helpful, even if you aren’t sure if you’ll remodel yet.

Sometimes homeowners assume they need an addition when changing the layout may solve the problem. Walls can be knocked down or moved. Kitchens can be reconfigured. Bathrooms can potentially be added or expanded.

Location should be a major part of the remodel-or-move decision. Do you like your neighborhood? Schools? Can’t imagine moving away from your neighbors?

If you already love where you live, leaving all of that just because the kitchen is an eyesore may not make sense. On the other hand, if location is one of your biggest frustrations, remodeling won’t solve that problem.

How Long Do You Plan to Stay?

How long you plan to stay in the home is also a factor. We like to tell people that if you plan on staying in the house for five more years or less, a major remodel may not make sense. If you can picture yourself staying in the home another 10 to 20 years, that changes our recommendation.

If this is a home you want to stay in long term, think about whether it will continue to work for you as you get older. Your needs 10 or 20 years from now may look different than they do today. A remodel can be an opportunity to plan ahead with things like a main-level bedroom, wider doorways, a curbless shower or a layout that is easier to navigate.

At the same time, some homes are harder to adapt than others. Multiple levels, a steep property or other features that would be difficult or expensive to change may be a reason to consider moving instead.

A remodel isn’t only about resale value, and spending $100,000 on a home remodel doesn’t guarantee that your home value will also go up $100,000. Resale value matters, but it shouldn’t be the only factor when it comes to choosing to remodel.

Be thoughtful about how much you’re investing relative to the home and property.

What Does Your Current Financial Situation Look Like?

Another thing to consider is what your current financial situation looks like. Do you still have a mortgage on your home, or is it paid off? If you have a mortgage, what does your current payment and interest rate look like compared to what you would take on if you moved?

For someone who owns their home outright or has a low mortgage payment, investing in a remodel may make more sense than selling and taking on a new mortgage. On the other hand, if the remodel would require a significant amount of financing, it’s worth comparing that cost to what it would look like to move into a home that already has what you need.

You should also think about how you would pay for the remodel. Do you have cash saved, would you need to finance the project, or would you use a combination of both?

Ultimately, it can be helpful to look at the full financial picture of both options rather than assuming that moving or remodeling will automatically be the less expensive choice.

Which Option Makes the Most Sense for You?

At the end of the day, the question isn’t really, “Is remodeling better than moving?” It’s whether you’ve outgrown your home or just the way your home currently works.

If you love your location, plan to stay for years to come and the problems you have with your home can realistically be solved through remodeling, investing in the home you already have may make sense. If the things you want to change go beyond what a remodel can reasonably accomplish, moving may be the better option.

Sometimes it’s hard to know what’s possible until you talk to someone about it. A layout that feels impossible may have options you haven’t considered, while other homes may have limitations that make a major remodel difficult to justify.

If you’re trying to decide whether to remodel or move, schedule a consultation with C&R. We can take a look at your Salem-area home, talk through what isn’t working and help you understand what may be possible in your current space.

Get in Touch With C&R Design Remodel