No home is perfect. Chances are there are some things you don’t like about your home. The flaws in your home might have you considering remodelling or even selling your home. It is a decision that varies depending on an individual since people have different preferences. Here are a few things that you should do before making a decision.
Research your real estate market
When deciding whether to sell or remodel your home, make sure you have as much information as you can regard your particular real estate market. Find out the marketability of your home as well as potential areas that you can move to should you decide to move. Also, get figures on the cost of both selling and remodelling. You can even speak to a real estate agent. They are likely to give you a professional answer based on facts and the market situation.
Access the cost of both remodelling and selling
You should make this decision based on your views and preferences. What seems sensible for someone else might not have the same effect on your situation. Despite the path you choose to take you will still spend money. List down and consider all possible expenses before selecting the right way for you. When selling you are likely to encounter costs for agent commissions, moving or repairs. During remodelling you will spend on permits, materials, labor, architectural plans and other hidden costs.
Access your emotional attachment to your home and the community
When you live in a home especially for a long time, you build a relationship with your home the community around you. Your children have made friends, you have established your favorite spots such as restaurants, shops, and parks or even the proximity of your house to your workplace. You have to decide whether you are willing to live the life you have built in your current neighborhood or not.
Consider your timeline needs
There is a timeline set for either remodelling or selling your home. You can observe your local real estate market or even ask a real estate agent for estimates. For renovation, the time depends on the conditions of your home and the dedication of your contractor. When selling a home market conditions plays a significant role. When you decide to sell, you should put it on the market at the right time to prevent it from staying too long on the market hence losing value.
Be honest regarding your situation
You might be tempted to think that either selling or remodelling might fix all your woes. Renovation, for example, won’t adjust noisy neighbors, unfavorable school district or the size of your home. If you sell and move to a new house, there still some things you will not like about your home. While considering your options, you should weigh between what you can live in and that which you can’t.
Whether you should move or sell your house depends on several unique individual factors. To make the right decision get as much information as you can be based on the two sides. Always be true to yourself and your needs in the process.