You love your small, cozy Rochester home, and it’s the perfect place for you and your spouse. It has a good-sized living room and kitchen and a tiny bedroom with an attached bath. What else could you need? But lately, you cannot shake off the feeling that your living quarters might be a bit cramped to accommodate the needs of your growing family.
Should you stay and expand your beloved home to accommodate a coming baby? You could knock down a couple of walls, get new building permits, and add a couple of extra bedrooms or another level. Or is it better to relocate to a bigger home with modern amenities that meet your needs?
What is the better option: do you put your beloved Rochester home up for sale and move out or renovate it and settle in the long-term? Here are a few factors that can help with your decision.
Are You Emotionally Attached to the Home?
Is it the place where you and your partner welcomed your first child? Do you consider your home your lucky charm that helps you succeed in life? Or do your parents and friends live close by that you cannot bear the idea of relocating?
Whatever be the reason, think about your relationship with your current home. Remodeling might be better if you have strong emotional ties to the property. You can consult a residential architect to help you get maximum functionality from your current home. You can even consider a home equity loan to pay for the renovations.
Do You Need More Room or More Rooms?
One of the main reasons homeowners debate a remodel versus moving out is their need for more space. However, if you have a large home with adequate square footage, you can add more room without moving out. For example, a sizeable two-bedroom home can be reconfigured to four bedrooms allowing families to have separate rooms for each kid. However, if space is at a premium and you’re feeling cramped, it might be better to move out.
Are There Other Serious Issues that Cannot Be Rectified?
Does your home have a significant problem that cannot be fixed? For example, you might live in a not-so-great school district or near a noisy highway. If this is the case, the better choice may be to move.
If you’re planning a move, you can sell a house fast in Rochester, NY, by connecting with cash buyers. Cash home buyers purchase your property in any condition and offer you a fair price. You can complete the sale as quickly as within a month and relocate to your new place without any hassles.
How Long Does the Renovation Take?
Very often, people underestimate the remodeling process. Home renovations are expensive, complicated, and time-consuming, depending on the project’s complexity. Kitchen remodels with new cabinets, countertops, floors, and appliances can range from three to six months. If the kitchen remodel involves electrical and plumbing projects, it can take longer. During the renovation, you might have to move elsewhere. Consider all these factors before opting for renovation.
Would You Be Over-Improving?
Another factor to consider while deciding between a remodel and a move is whether you’ll over-improve your home. According to real estate veterans in Rochester, an over-improved home is likely to stay on the market for long and fetch lower prices when compared to other similar properties in the neighborhood. Adding a large addition or an extensive renovation to your home might not yield the expected returns. Buyers are likely to shy away from enormous or irregularly extended properties.
Considering these five crucial factors can help you decide if a renovation or move is the better choice for you and your family. If the scales tip towards a move, reach out to Helping Homes REI, top-rated cash home buyers in Rochester, NY, for a quick and hassle-free sale.