One of the most common decisions every homeowner faces at some point is whether to renovate their current home or move to/build a new home. This predicament is often driven by a change in needs, which has been further exasperated during the current pandemic. As families in Jacksonville (and across the nation) spend more time at home working, learning, and living, many have realized they have new needs, including clearly defined spaces, more square footage, and updated floor plans.
Deciding whether it is better to remodel or relocate isn’t easy, but there are several factors you can consider to help make the best decision.
Current and Future Needs
Before making any decisions, you should first make a list of your current home needs and potential future needs. For example, do you plan to expand your family? Will you be remote schooling or working from home for the near future? Do you wish to age-in-place? This list will help you determine if a remodel of your current home can meet your requirements or if you will need to find a better-suited home.
Both buying/building a new home and renovating, of course, come at a cost. When buying or building, you will need to consider the actual price of your new home as well as additional charges for your agent, taxes, closing costs, repairs, fees, and moving expenses. When renovating, you should reach out to contractors for estimates to determine what your project will cost versus guesstimating on your own. A professional, like E2 Design & Construction, will be able to provide a realistic and comprehensive estimate. Make a thorough comparison of the costs to renovate vs. move to determine which may be the better option for your situation.
Is your current home conveniently located near the places you frequently visit, including work, school, shopping, recreation, and family and friends? If your current location doesn’t meet your needs, you may want to consider moving to a neighborhood that does. Be sure to research home costs in other areas where you would consider moving to determine if they are within your budget.
Experts often say to leave emotions out of the decision-making process; however, your emotional connection to your home and neighborhood matters. It is important to remember that you cannot buy memories or feelings. If you are emotionally invested in your current home, a new home may never meet your standards.
After weighing the pros and cons, if you decide to either remodel your current home or build a custom home, the good news is the E2 Design & Construction team can help. We are dedicated to updating your existing home or helping create your custom home according to your unique needs. If you are looking for personalized service and exceptional quality, contact us today.