Janet Cook
When buying a house to move to, there are compromises that are made. Maybe the kitchen is dated and missing an island. Perhaps the flow of the house is chopped up with walls that obstruct the view and natural light. Maybe the master bathroom is cookie cutter and the walk-in closet is lacking. Often the laundry room design was neglected. Perhaps the yard is not developed for entertaining. With a limited number of homes for sale and higher interest rates, more people (76%) are choosing to “trade-up in place” rather than move. Here are the primary benefits to remodeling instead of the stress and cost of relocating:
Customize to fit your needs. If you love where you live, stay and do a home remodeling project to get the house of your dreams. You will have first-hand knowledge and experience of what isn’t working to show and tell your designer what the problems are, what your wishes are, as well as your style and budget. They can offer solutions that you may not even have thought of, like how to get more storage or better function and flow!
Increase the value of your home. A well-designed home remodeling project will increase the value of your home, and it can be even more attractive to buyers when it is time to sell. One can think of it in terms that the next buyer will pay for a portion of the remodeling costs, and you get to enjoy it in the meantime. Realtors often hear that after a homeowner has spruced up and updated their home to sell, that the sellers wished they had done it sooner because they want to live there!
There is a disadvantage to remodeling in that it is a noisy, dusty, and disruptive process. Considering it costs an average of $10,000 to move from one house to another, that is a substantial saving towards the remodel. You might consider allocating that expense of moving for living in a temporary location while the remodeling is being done! Or if you stay in the home, for the convenience of eating out, or to use to upgrade an appliance or focal point.
In the HGTV show Love It or List It, either the husband or wife is not happy with the home and wants to move, while the other wants to stay. Both the show’s designer and realtor work hard to be the solution. Many times the home for sale that the realtor finds provides so much more space/rooms and amenities, but the couple, after seeing their own home made new, just how they wanted it to be, find the emotional attachment is strong, and they decide to stay in their home because they love it. There is no place like home!
Happy Home Remodeling and Happy New Year!
Janet Cook, Certified Health Coach and Aging in Place Specialist, President of Cook Remodeling (celebrating 46 years), invites you to check out their blog for inspiring photos and more articles.