Remodel your home vs. moving

If you’re looking to upgrade your home you have two options, remodel or move. It’s no surprise that in a down economy most people are opting to remodel rather than move. Even if the price tag on a home that would be considered an upgrade over you existing home has dropped, there are usually a lot more costs involved in moving (not to mention time and stress). There are many reasons why remodeling is a better idea than moving:

  • You can customize your home to your exact needs and wants. If if you find a great deal on another home, it will likely have several elements that you wish were different. When you remodel you have the final say.
  • Moving is a stressful experience. While a home remodel can takes months and cause some stress, moving involves packing everything, renting a truck, hiring movers and much more. All of this is added stress. This is only amplified if you have children who are along for the ride.
  • Moving requires you to leave your neighborhood.
  • If you have children, moving may require them to switch school districts. This may not always be the case, but the idea of switching schools can be stressful for both the parents and the children.
  • Remodeling is a better use of your money. Even if you find that sweet deal on a home you’re likely to spend somewhere between 8-10% of your home’s value when you sell it on moving expenses, broker fees and closing costs. If you sell your home for $500,000 and $50,000 is allocated to these fees, that’s $50,000 that could have completely remodeled your kitchen!
  • Remodeling allows you to take advantage of tax incentives. The Obama first time home buyer tax credit has come and gone, but there are still tax deductible remodeling expenses that you can take advantage of. Adding solar panels, a solar water heater, or geothermal heat pumps are all things that are tax deductible.

To learn more about the different options that you have when remodeling your home contact Greyhound General today, or call 800-568-7108 for a free estimate.

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