Spring is the time of the year when many people think about moving. You may not like the look and feel of your home, or may think it’s too small, outdated or inefficient – and the thought of moving keeps getting more and more appealing. Why not consider staying and renovating your space to fit your family lifestyle, instead?
Both relocating and remodeling can make sense, and each hold benefits; choosing correctly can minimize your stress and disappointment, save you money, and increase the possibility of years of good living for you and your loved ones.
If you’re trying to decide whether to renovate or sell, here are some benefits of remodeling to consider instead of buying a new home.
According to Zillow’s annual Housing Aspirations Report, given the option to remodel their home or opt for a new one, 76 percent of Americans would rather renovate than use their savings for a down payment.
The reality today is that many sellers simply cannot get the price they need on their current home in order to afford a new home. Remodeling your current home may result in added value to the property, so it can be a win-win – you get to enjoy the updated version of your home and you can potentially sell it for more down the road.
Also, to sell a home and buy another one usually involves the payment of agent commissions on the sale, and on the purchase, plus the appraisal expenses, title search fees, title insurance, and legal fees. These high transaction costs reduce the profit and increase the cash needed to complete the transaction.
Then there’s the moving, which many of us find to be a huge hassle. All the accumulated belongings and stuff that need to be sorted, organized, packed, moved, and then unpacked – it all can be too time-consuming, expensive, and stressful. For many, emotional, psychological, logistic and monetary reasons, some psychologists state that only the death of a family member, divorce, and the loss of a job are more stressful than a home move.
On the other hand, remodeling your current home generally costs less on a per-square-foot basis, than the retail market price of the property.
There are the emotional reasons, too – sometimes the memories you’ve collected over the years are too good to leave. Remodeling also allows the family to stay in familiar, comfortable surroundings. You’re familiar with what’s in your neighborhood and where to find what you need; and chances are you have some neighbors that have become like family. Also, if you’ve lived in your house for a while, it means you know the age of the appliances, how your heating and cooling system works, and what to expect efficiency and cost wise.
Next, a revamped place done just how you like it can be such a beautiful blessing for you and your loved ones – new look and feel, bigger spaces, function and form.
Remodeling your home allows for customization, and often means it’s the only way to get everything you want in a house, from the ideal kitchen setup to the spa like bathroom, and more. Many people are unable to find everything they desire in a new house, and remodeling allows you to modify the structure or add amenities and features exactly to your specifications and within your budget.
And even if you really want to move one day because you want to live in a different town or county, consider renovating now to improve your own quality of life while you still live there. After all, once you’re ready to sell, your real estate agent may recommend updates that will help increase your home’s value.
You can also choose to strategically improve your home with projects that can grow your property’s value, such as a master suite addition, a kitchen renovation, or a new roof. The great thing about renovation is that it doesn’t have to be elaborate and overly time-consuming, and you can plan to do things in phases and focus on what’s a priority and more within your budget.
Whether it’s a small makeover or a bigger remodel, if you’d like help from an experienced remodeling contractor – trust Harbor Stone Construction Company for all your home addition and home improvement needs.
As a locally owned company providing Quality General Contracting Services in Chester County PA and Greater Philadelphia, at Harbor Stone we have a reputation for completing projects that meet or exceed expectations, on time and on budget.
Contact us today to see how we can make your remodeling dream a reality.