With the economy in a slow recovery, many homeowners are struggling with the decision to remodel or move. Should you remodel your current property into your dream home or go in search of it elsewhere? While there are advantages and disadvantages to both, we've listed four big reasons that many homeowners choose to remodel their Connecticut home over selling.
Today, putting your house on the market can be a risky venture, not to mention a lengthy one. In the current "Buyer's Market", if you put your home up for sale, you should prepare yourself for a long wait or perhaps even selling at a lower price than you wish. In addition, between realtor fees and open houses, selling is likely to be more of financial and emotional burden than a reward at this time.
With selling, comes moving! Moving.com has a handy online calculator that will estimate the cost of your move based on the size of your household and zip code. This calculator puts the cost of moving a 3 bedroom household with partial packing services within the city limits of New Haven, Connecticut at approximately $3,000-$4,000. You can find out the cost of your own move by checking out this online calculator, but remember--the expense of moving goes far beyond just movers and boxes. Consider the following:
Moving is obviously monetarily expensive, but the non-monetary expenses of moving can be greater than the financial expense. Depending on the distance of the move, relocation can involve major, stressful upheavals like switching jobs or school districts. Moving can also involve leaving behind friends and family. For many people, the pressure that a move presents negates some of the benefits of moving.
While home remodeling also has a cost, for many homeowners, the benefits and return on investment outweigh the price. Take into account the following: