If you need to decide whether you should renovate or move, start by reviewing your home and identifying what is currently lacking. Then determine what it would cost to improve it.
Consider overall upgrades, such as new windows, a new roof, or new HVAC and security systems.
Then examine each room and determine how improvements could benefit your family’s living environment, now and in the future. You might even consider the possibility of adding one or more rooms.
With estimated renovation costs in hand, have a brief consultation with your REALTOR® who will be able to add the estimated cost of affordable renovations to your home’s appraised market value. This will give you a rough idea of how much you might be willing to spend on your next home, provided it has all of your desired features.
If such desirable homes are price over the cost of your current home after upgrades, you might be better off renovating. Your renovations may even add more selling value than they cost.
Contact me, your trusted local real estate professional, by phone at (905)940-3599 or by email at firstname.lastname@example.org today; a good REALTOR® can help you determine it!
- Renovate or relocate? – Style At Home
- Should You Remodel or Just Move? – Houzz
- Should You Move or Improve? – HouseLogic
- Remodel or Move – Home Insight
- Move or renovate? | BrighterLife.ca