As your family grows, your savings increases, or your desire for more peace and quiet gets stronger, you may feel that it’s time for a change. It you have more money available in the past, it may be time to finally enjoy the home of your dreams. Should you invest that money into a home remodeling project or look for greener pastures elsewhere? Is a move the best … move?
How Much Space Does Your Home Offer?
One of the things to consider is how much room you have available to work with at home. Any time you need to demolish outer walls for expansion, remodeling projects cost more. On the other hand, if your idea of a dream home is to knock out a few walls and have an open-concept living/dining room/kitchen, that’s well within the budget of many homeowners.
Expansion projects can give you a gorgeous home, you just have to do some extra calculating to make sure you can afford to see the project through to completion. Bathroom additions, covered backyard structures and other amazing details can add a lot to you home as long as your property is large enough.
What Kind of Emotional Connection Do You Have to Your Home?
This plays a bigger role than most people realize. If your current home is where your kids were born, or where you fell in love as a couple, you may simply not want to move. There’s nothing wrong with that. With home remodeling, you can still infuse the home with modern styles and bring your personal design vision to life.
How Much Money Will the Bank Lend You?
Before making any decision, find out exactly how much money you have to work with. Will a loan give you plenty of money to invest in extras that get you excited? Will you really be able to afford a spacious home in a neighborhood you like? This can help you make a smart decision for your happiness.