Does the feng shui of your living room throw you off everytime you walk into it? Is your family growing and your two bathroom house just no longer make sense? Do you start singing ‘Should I Stay Or Should I Go’ by The Clash while making breakfast in your outdated kitchen? For many homeowners, they walk throughout their home dissatisfied with the appearance and wonder if remodeling is even worth it, or if they should start looking for a new house. Though there are many factors that go into this, here are the Top 4 questions to consider when deciding whether to call a contractor or a real estate agent.
Are You Ready To Relocate?
Think back to when you first put in an offer on your home. Did you get butterflies in your stomach and think ‘yes, this is my forever home’, or was it more of a ‘it’ll work for now’ kind of feeling? Have those feelings changed since moving in? Remodeling and buying a new home are both costly and time consuming processes, so it is important to understand what your house means to you before making any decisions.
Comparing Costs: Is It Worth It?
Make a list of everything you want to change about your home. Is it just updating your kitchen, or is it a full kitchen remodel, adding a bathroom, moving your living room, and a plethora of other updates? Depending on what you want to change, your remodeling costs could be somewhere between 40k and the cost of what you paid for your home. The best way to compare the cost difference between remodeling and selling is to get an estimate on the work you’re looking to get done, and contrast the price with a home that has everything you’re looking for.
How Is The House Market?
As we all know, the real estate market is an ever changing ticking time bomb. Because of this, it’s important to know if you’re in a seller’s or a buyer’s market. If listing prices are plummeting, it’s probably not a good idea to put your home up for sale unless necessary. However, if prices are skyrocketing, selling your home may be something to consider. Additionally, since the real estate market fluctuates so drastically, remodeling while prices are low may be a great investment for you, especially if you plan on eventually selling.
Will Remodeling Solve All Your Problems?
Though you may love your home and want to make it more livable, is the appearance the only thing that’s affecting you? New tiles and flooring is not going to change your loud neighbors or unfavorable school district. On the flip side, if you love the residents on your street and live in a great area for everyone in your family, remodeling is definitely in your favor.
We hope this guide helps you make a decision on whether to remodel or sell. It’s a big decision to make, so weighing all factors is crucial. If you are ready to start your remodeling journey, FSBD offers services in kitchen renovations, bathroom remodeling, basement finishing, and other home remodeling projects. Don’t settle for ordinary when you deserve extraordinary.
First State Building & Design in Chadds Ford, PA, offers residential remodeling and renovation services. For a FREE estimate, contact us today!