Moving is one of life’s most stressful events for most Americans. There is just so much risk involved; moving costs, search stress, and a ton of other unknown variables. For this reason, most people tend to prefer renovating their current residence to moving to a new home. However, a home remodel can turn out to be equally frustrating. This is especially true when you have to live in your home during construction. Should you then move or remodel?
When making the decision to move or remodel, there’s a lot to consider. From your financial situation to how it will impact your home insurance. A home remodel is not always the best option. Several factors impact whether scheduling renovations or buying a new home is the best financial and emotional decision for you and your family.
Both renovating and moving can be time-consuming, stressful, and costly. You might want to consider your answers to the questions below before deciding what to do next.
1. Is it cheaper to move or remodel in Los Angeles?
For most people, the cost is a significant factor in home improvement decisions. Whether or not it’s cheaper to renovate or sell depends on your current mortgage situation, as well as how much money you have in savings.
Renovations come with immediate, out-of-pocket expenses, whereas moving can put cash in your pocket now but cost you a lot more down the line.
2. Do your research to see if it is good time to move or remodel
- Even if it is cheaper for you to move instead of renovating, will you be getting the most out of your investment? Maybe you want to remodel just so you can list your home? Checkout our article 3 Best Ways to Increase Your Home Value.
- Do some research about market conditions before you list your home.
- There are also seasonal house selling trends in California you might want to consider.
- Homes typically sell faster in spring and summer, and they’re more likely to sell at or above the asking price.
- Checkout this list of Pros & Cons: Renovating vs Buying from Coldwell Banker.
3. What will you miss about your home and location?
You and your family could be more attached to your home than you realize. It may be the place your daughter took her first step or the last place you saw an ailing grandparent. Consider these emotional implications, both on you and your other family members, before deciding whether you are ready for the stress of moving.
Plus, in Los Angeles, just moving a few miles can change your whole lifestyle, from the expensive westside beach communities, of Venice, Santa Monica and Marina-del-Rey to the more affordable valley areas, like Woodland Hills and Thousand Oaks.
4. Is the timing right for you and your family to relocate?
Moving can not only be stressful but also irrational given other life events happening to you and your family members and during a pandemic.
Can you afford possible higher mortgage costs? Heating and cooling expenses vary greatly depending on which side of LA you live on – from the cooler westside to the scorching heat of the valley. Moving may mean changing schools, school district scores can vary greatly in Los Angeles and surrounding areas. What about the commute? Traffic in LA is no joke, it’s a big thing to consider if you’re thinking of relocating.
Should you move or remodel?
Most Americans don’t want to move, but if you’re ready for a big change, it may be your best option. Whether you’ve outgrown your current property, see a good selling opportunity, or simply think the grass may be greener on the other side, there are plenty of reasons to consider putting your home on the market — but checking out this list helps you decide whether to move or remodel.
With the right home remodeling company, a home remodel becomes a very painless process. You can rest assured that the project is completed on time, within your budget, and just as you envisioned. Eden Builders is a California licensed construction company. We specialize in Home additions, ADU’s, Kitchen remodeling, and Bathroom remodeling. Our company can tackle any remodeling project with a minimum project cost of $25K
Checkout some of our recent Southern California home remodels for inspiration: