remodeling 101
Should you Move or Remodel
When planning a remodel, especially one that covers multiple rooms, you might be wondering if it’s even worth it. Would it be better to just pack up and move to a different house? There are a lot of factors that should be considered when making this decision.Â
- Save Money
- Save Time
- Lower Stress
- Own the Home of your Dreams
When planning a remodel, especially one that covers multiple rooms, you might be wondering if it’s even worth it. Would it be better to just pack up and move to a different house? There are a lot of factors that should be considered when making this decision.Â
Cost
The first thing to consider, of course, is the cost. How big is the remodel you have in mind for your current home? A simple bathroom or kitchen remodel usually only takes a few days to weeks and compared to moving, is much more affordable. You can visit claytonhoover.com/estimates for an estimate on the cost of your remodel, but for reference, the average bathroom remodel costs roughly $11,000 and the average kitchen remodel costs roughly $22,000. Clayton Hoover & Sons also offers financing options for projects. You can apply at claytonhoover.com/financing. Alternatively, the average cost of a house in Indiana lands right around $200,000, typically requiring a home mortgage from a bank. If you’re thinking about renovating several rooms of your house or building an addition, it will probably be more cost-effective to move to a new home that already has what you are looking for. With either a renovation or move, you will want to talk to housing industry experts about the potential return of investing in your home.Â
Timing
Timing can also be a vital part of the decision-making process. Why are you thinking about remodeling or moving? Maybe your family is growing and you need more space or maybe your home is just outdated. While a remodel can be timely and stressful, finding a new home will likely take much more time and energy. You can request an appointment with a licensed contractor at claytonhoover.com to talk about your vision for the remodel and discuss the time and cost of the job. You also want to consider the real estate market. If it is a great time to sell, it’s also a bad time to buy. Prices are high and the competition to get a new home is outrageous, but you might profit enough from selling your house to afford a home that better fits your needs.Â
Emotional Attachment
Another thing to consider is the emotions involved with moving. If you have an emotional attachment to your home remodeling is probably the way to go. You don’t want to regret walking away from a house you had dreamed of turning into the perfect home or home that has been passed down from your family. While the Michiana area has seen a lot of revitalization in recent years, with new construction most houses in South Bend and Mishawaka were built before 1960. You can visit claytonhoover.com/remodeling for an estimate, but it tends to be more costly to renovate and bring up to code an old house. However, if it has sentimental value, the cost will likely be worth it to give you exactly what you dream of. Additionally, surveys have shown that people rank moving as the most stressful life event, ranked even more stressful than divorces. Unless you are in a time in your life where you can handle the stress of selling your current home, searching for a new home, potential bidding wars, and the process of moving, it is best to opt for a remodel.Â
Unless you are extremely lucky, there will likely be trade-offs and compromises to be made either way. With a remodel, you aren’t going to gain more square footage but you will be able to turn your current home into something more tasteful and practical. With moving, you can likely find everything you need but it might not be exactly how you imagine it. Take some time to prioritize what you need out of your home, then weigh the pros and cons of a remodel.
When you’re ready to remodel your home, reach out to us! We’d love to work with you to come up with the perfect design for your home. Schedule your consultation at claytonhoover.com/remodeling.
