Many people choose to remodel, if they have room on their lot. Others will chose to look for a larger house. If you are considering whether to move or remodel, here are some pros and cons to consider:
Remodeling Pro/Moving Con:
- You have already invested in a home and made it your own. In our transient culture where so many people move around constantly, trade up for larger homes, and view homes as just another investment, there is something so innate about owning a piece of dirt, watching a tree you planted 20 years ago mature, marking the kid's growth on a wall. This goes beyond just a sentimental attachment.
- You know what you want, and there is freedom (within the parameters of your property lines and zoning codes) to make this happen. Unless you build new custom, there may not be another house on the market that fits your needs.
- Buying a home is a known quantity. You get approved for your mortgage, you know exactly what you can afford, with professional and visual inspection you know what you want to improve upon and what is move-in ready.
- Remodeling is not a known quantity. I recently spoke with a woman who is pricing out adding a dormer to her cape cod and received bids ranging from $25,000 to $100,000. The contractor does not know what he is going to find until the walls are actually opened or what the building inspector is going to require in terms of bringing the rest of the building up to code.
Armed with this information, you should be able to gain somewhat accurate bids from a contractor. Again, remodeling entails a lot of unknowns, and the contractor needs to make sure they are covering all their bases.
None of this is meant to sway anyone either way, but to provide more fodder for discussion. Of course, I am biased towards remodeling, for many reasons: yes, I am sentimental, and there is such a comfort in having the constant of my grandparent's and parent's houses in my above mentioned transient life. As a designer, I love the challenge and problem solving involved in a remodel, and who does not appreciate a great before and after, especially when the "after" is a home where a family can share a lifetime of memories.
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