Now, more than ever, home remodeling is a better option than moving. Although some may argue that interest rates are low and that makes moving more affordable, you can refinance your existing home and get cash out to pay for your remodel at that same low interest rate. We’ve put together our top five reasons why we think a home remodel is better than moving!
1. Buying & Selling Is Hard Right Now
Although the real estate market hasn’t been terribly impacted by the current pandemic, the process has become a bit more difficult and potentially hazardous. Do you really want strangers in and out of your home, day after day? Do you want to tour another home not knowing if the occupants have been sick? Add to that the fact that the closing process is taking longer than ever due to limited staff at banks, home inspection companies and city and county offices, and there’s little guarantee the process will happen on the timeline you need it to happen.
2. Unless You’re Building a Custom Home, It’s Never Perfect
One of the benefits of working with a design/build company is that you create the space you want, need and love. Unless you’re restricted by zoning regulations, your home addition or remodel can be tailored to your style. A good remodeler will also keep you within your budget and provide an accurate timeline for the work before they start.
3. Moving Is Expensive
Even if your new mortgage is no more expensive than your current one, once you factor in the closing costs, movers, moving supplies and rentals, you may spend $50,000 or more, not to mention the time involved in packing up a home and unpacking in the new one. Yes, you may incur some storage costs when remodeling and there’s an investment for the remodelers, but those costs are somewhat recouped when you eventually sell the home, unlike closing costs.
4. You Have Options
Depending on what you want to change with your home, you have options. Perhaps finishing the basement with an office, additional bedroom and bathroom will help free up space on the main floor for a larger kitchen and more living space. If you need additional bedrooms, a second-story addition may be the right solution. When you work with a design/build company, they can look at your home as it is today and help you figure out the options you have for home remodeling so you have the space you need.
5. One Room at a Time or All at Once?
One of the great things about choosing remodeling over moving is you can change one part of your home at a time, as your budget allows. That means if you need a new bedroom to accommodate an aging parent, you can work on that first. Next, you can remodel your living space to better accommodate the larger family. Or, if budget allows, you can undergo a whole-home remodel and have us in and out of your home just one time.
Talk to Our Pros
If you haven’t talked to a design/build company about the advantages of home remodeling over moving, you should. G.M. Roth Design Remodeling has decades of experience with additions and remodels for homeowners from Milford, NH, to Concord, MA, and surrounding communities. We’d love to help you make an informed decision. Fill out our contact form or call us at (603) 880-3761 to request your free consultation today. Rest assured that throughout the process, our team will take care to follow current guidelines set out by the National Association of Home Builders regarding COVID-19 for your protection.