Move or Stay and Remodel?

Are you contemplating a move? Or are you wondering if it's worth it to stay where you are and remodel? Sometimes these decisions can be so difficult to make!

Moving can be such a pain in the butt.  On the other hand, the excitement of moving into a new home can more than make up for the short-term pain.  Remodeling can be costly whether or not you're handy enough to do-it-yourself.  Here are some tips to help you decide:

1 - Neighbourhood / Proximity to Work/Schools

Are you happy with the location of  your current home?  Do you have a quick commute to work/schools?  Do you have kids?  and do your kids love their school?    Commuting costs are rising and the longer your commute, the more wear & tear on your vehicles.  As the cost of gas rises, these issues can take a bigger bite out of your budget than you realize.  The shorter your commute, the better!  Keep this in mind when making your decision.




2 - Size/Layout/Age of the Home

How comfortable is your home?  How old is it?  Does it need significant remodeling to suit your needs?  Remodeling of older homes can be a nightmare.  You never know what you're going to find inside those walls... If you're considering remodeling or updating an older home, most contractors will give you free estimates for the work that needs to be done.  Whether you're planning to do it yourself or not, get the estimates so you have a rough idea of what you're facing before making a decision on staying or going.


3 - Worst House On the Block

The best investment is buying the worst house on the block and updating it to the neighbourhood standard.  If you are planning to remodel, be sure you don't over improve the home for the neighbourhood unless you plan to keep that home for your lifetime.  Investment-wise, the best or biggest house on the block is not a good value for the money.  Land appreciates, the house generally doesn't unless you're upgrading it and upgrading the best house on the block is like throwing money away.  You're not likely to get back your investment if you have to sell the home later.

4 - Bigger isn't Better

Bigger homes are more expensive to buy, to maintain, to heat or cool and to keep clean.  The current trend is downsizing and there's a good reason for that.  House prices have risen to ridiculous amounts and the cost of living isn't going down.  What you think is your dream home could become a nightmare when you have a huge mortgage payment to make.  Be sure you figure out your budget before you take a leap into buying your next home.  And if you're already in that "my house is sucking the life out of me" home, you may be much better off moving into something that is easier to afford.


For more tips on remodeling, selling, staging and moving, check out my 'A Smooth Move' clipboard on HomeTalk - it's full of great articles on all these subjects.  Plus you can toss out questions and get answers from pros on all sorts of subjects.  HomeTalk is a fabulous resource for all things home-related.

Click on the photo to go to my clipboard!







With a small budget, big dreams and a love of a challenge, Anne blogs about renovating and decorating her tiny 1930s bungalow. A self-taught artist and professed power tool lover, she enjoys writing, gardening, photography, nature and diy'ing. And she's never met a dumpster she didn’t want to root through! Come along for the ride!!

Remodeling and Home Design

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8 comments:

  1. Great tips Anne if someone is planning a move. Love Hometalk it is a great source for information.
    Thanks for the tips.
    Kris

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  2. Great tips for people, very helpful. Many things we thought about when we decided to do this house moving.

    Cynthia

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  3. I'm currently contemplating some of these very questions, except for the best house on the block part. Can't even go there, lol. These are helpful tips, Anne. Off to check out your Hometalk board, hopefully I'll need the tips sooner than later;)

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  4. These are excellent tips, Anne. #3 is something I really watched out for when our realtor took us to look at homes. I'm glad you brought that up. xx ~ Nancy

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  5. Great advice. I thought about all those factors when I purchased my home. I went for location, location, location. My house had/has a ton of potential and I love it. But the fabulous neighborhood sealed the deal!

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    1. You're so right about location! That's why I bought my current home too!! Potential and location. Thanks for popping in Sabrina!

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  6. Great tips, Anne. I know some people tell me that can't fix a home, because they are not handy. But one gets better and better with practice.

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  7. I think that often we are too quick to move. Sometimes it works and other times it becomes a new set of renos to complete that you never saw. When we purchased we were feeling the location as a good bet and it certainly has turned out that way.

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