Maybe spending more time at home the last several months has made you realize your family has outgrown your house. Whether it’s to make room for an additional family member, growing children or more stuff, you need more space.
The big question, then, becomes do you buy a new home or add on to your existing one? There are several factors that go into that decision.
Obviously, it’s important to address the situation in the world right now. If you’re looking to make a change in the near future, COVID-19 and related concerns are going to be part of that process. As just one example, do you want to be visiting a lot of existing houses and having people look at yours? Do you want to be holding open houses? These are considerations at any time, but can be of even more concern today.
This is a temporary problem, and perhaps you’re looking at making your decision a year or two down the road. So let’s consider some other factors as well.
Do you have room?
Depending on how much more space you need, there may simply not be the room to remodel where you are. It’s important not to assume that is the case, though. A good design/build remodeler like T.W. Ellis may be able to find a solution to your space needs without drastically increasing your footprint. Many homes have wasted space and a small addition with ample interior redesign can end up being a great solution.
Consider the neighborhood
Another factor to consider is if your house will match the surrounding homes. Is the addition you are considering large enough that it will stand out significantly from the rest of the neighborhood? This can pose a couple of problems. First, the push back from neighbors may be significant, especially if there are neighborhood covenants or other restrictions. Secondly, if you do eventually move, it may be difficult to sell a home that is not a good fit for the neighborhood, or to recoup much of your investment if you do sell it.
Do you love where you live?
This is probably the most important question to consider. Do you love your neighborhood? Love your school district? If the only reason you’re thinking of moving is to get more space, then adding on probably is the best answer. If you’re happy in your house, the best decision is not to leave. You can increase the value of your home and stay where you love.
On the other hand, if there’s a chance to improve your commute or get closer to an area you like, then moving is worth considering.
Cost and control
Every home is different, so costs vary greatly. That’s where working with a qualified remodeler makes such a big difference.
On average, it’s more affordable to remodel than move once you consider closing costs, hiring a mover and other associated expenses. You’re also more likely to get exactly what you want rather than having to pick a house that may be missing some of the features for which you are looking.
Time commitment and your stress level
Let’s be honest. Moving and buying a new house is stressful. Remodeling your house is stressful. They’re both going to disrupt your life, but both are exciting, too.
As for your time commitment, it’s probably similar for either option. It’s going to take months to undergo a major remodel of a home; it’s going to take months to find a new home, deal with the financials and move in. Everyone is different, so what’s going to cause you more stress? That’s a question only you can answer.
Ready to expand your home? T.W. Ellis is here to answer your questions and help get the space you need. Contact us today to discuss your remodeling needs!