It’s perfectly normal to want more out of your house. We all go through it, and when you’re ready to make a serious change, you have to weigh two options. Are you going to remodel or move? Both are legitimate options, and a few thoughts can really help you determine which is right for you.
When to Remodel
Let’s start with remodeling. It can do a lot for a home, but it has to be done right. If you don’t consider all of the angles, you could risk losing money for very little gain.
You Want Upgrades
Everyone wants some changes to their house at some point. When you’re ready to make that a reality, you can either upgrade the home where you live or buy a new house. When you remodel, you customize your home and get exactly what you want (within your budget). When you buy a new house, you’re probably going to have to settle or remodel it anyway. You can skip the middleman and go with a remodel.
You Want More Home Equity
When done right, remodels add a lot of value to a house. In case you’re new to the game, here are the most important tips. Bathrooms and kitchens get the most bang for your buck. Modernizing them and making them streamlined and beautiful can often add more value to the house than you spend on the remodel. As long as you’re savvy about it, these are the upgrades that enable you to sell your house to get a bigger or better house down the road.
When to Move
Moving is more straightforward. You’ve already bought a house, so you have an idea about what it would take to move into someplace you like more than what you have. Still, it helps to compare what a remodel can and can’t do for you. In these cases, there is no upgrade that will remedy your situation.
The Goal Is Relocation
If you want or need to relocate, there is no remodel that puts your home in a new place. This is the top reason to save that money and not do the remodel. It might add value to the home, but it can leave you cash poor. There’s no guarantee that you’ll get a return on your investment. Additionally, moving, buying, and selling a house can come with a bunch of hidden costs. The cash you don’t spend on remodeling can take the sting out of all of those hidden costs.
A Remodel Is Insufficient
If you need more space, there’s a limit to what you can add to a house. You can add storage, but additional rooms or workspaces are usually capped by the size of the lot. They also aren’t the best at getting a return on your investment.
Similarly, if you want to downsize, there is no remodel for that. There are a lot of things you might want out of your house that simply can’t be added to it. In those cases, save the money you might spend on a remodel and use it to finance a relocation instead.
The Remodel Can’t Make Money
There comes a point where you’ve squeezed as much value as you can out of your home. That’s a great time to upgrade to a better house. Cash out all the work you put into the current home and get something better. You might be tempted to sink the money anyway to get what you want. Financially, it’s better to upgrade a different home that will offer you a net value for your investment.
Eventually, remodeling will fall short of what you can get from moving. When that time comes, We Buy Houses Tulsa can take all of the hassle out of selling your home. Just contact us and fill out the simple form. We’ll get you a cash offer with no obligation, and you can sell your home with greater ease than you ever imagined.