If you are in need of some added space in your home, whether it’s because your family is growing or just because you want it, there is one major decision that you are going to need to make.
That decision is whether you want to simply buy a new home, or instead renovate your current home to better fit your newfound needs.
Keeping that decision in mind, here are some primary reasons why renovation may be the better option between the two. Before we go any further, one crucial thing to keep in mind regarding your rebuild.
That question is, “What kind of professional should you hire for your home remodel?”
Once you have that answer, you can move on to the following considerations!
You Can Enjoy the Updates
When you prepare for a home sale, your real estate agent may very well offer you a list of recommended updates and improvements to make to your home. If you make them just to improve the value of your home, however, you will not actually be able to enjoy any of them.
You Can Curtail Your Home to Your Needs
It is quite common that home buyers sacrifice one or more of their wants when buying a home. As the classic phrase goes, you can’t always get what you want. But, if you decide to renovate and expand your current home, you can make sure that you get what you need and more!
In a renovation, you have total control over what you do, given you can afford it. So why not build what you want out of a home rather than look for something that includes it on the open market?
You’re Emotionally Attached
It takes more to make a house a home, and if you already feel completely at home in your current house, you may not want to move. So why not add to what you already know and love?
There are incredibly effective and beautiful ways to blend an older home with a newer updated rebuild. Just make sure to find a home builder who has experience in these kinds of updates before you break ground.
You Skip the Cost of Moving
Buying a new home and moving has many more expenses than just – buying a home. You will have to literally move your whole life from one place to another. Believe it or not, moving costs can easily exceed $10,000. That alone could be a large portion of the money you need for a great renovation to your home.
You Can Build Equity
One major reason why people want to own homes is because it is one of the most effective and stable ways to build equity. While purchasing a home does indeed give you equity, it also forces you to take out a new mortgage in order to own the home.
If you are close to paying off your current mortgage and want to further add equity to that home for your future, renovating can dramatically improve the value of your home, and the amount of equity you have in that home!