Deciding Whether to Remodel or to Move After you have lived in a particular home for a certain period of time, it is easy to find things that are wrong with it. Some people question whether they should bother remodeling or if they should save up and simply purchase a new and better manufactured home in Utah.
Factors to Consider There are many factors to consider in this situation that will affect which choice the better one. The first thing you will need to consider is how much time and effort it will take to remodel. Remodeling is definitely a long process that can take weeks to complete. You will need to decide whether or not you want to deal with the stress and mess of it all. In addition, there are often unexpected expenses that arise as you realize that there is an underlying problem to the project you are working on. Of course, remodeling can still be significantly less of an expense than purchasing a home. This is particularly the case if you are willing to put in the time and effort to perform the tasks yourself. Some people will prefer to simply move because it is less stressful, but others will like the challenge of fixing up their current home.
Reasons to Stay One reason that you may want to stay and fix up your home is that the prices of houses in your area are rising quickly. By simply remodeling or adding on to your home, you may be able to add significantly to the value of your own home. This will allow you to sell it for more in the future. In addition, in the short term this will be much cheaper than purchasing a house that has a value that is rising. One thing that many people do not factor into their final decision is that when you move, you will also have to deal with the hassle of selling your current house. If it is not in very good condition, then you may have a hard time doing this.
In addition, there are many additional costs that are associated with the sell, the purchase, and moving that are not included in the prices of the two living spaces. There is also the general rule that staying put is much cheaper than upgrading or switching houses. In other words, the fewer times you have to move your belongings to a new area, the better. However, this is not necessarily always true. For example, one study performed by the Wall Street Journal found that it cost four times the purchase price of a house to keep it completely up to date during a 30 year period. This is extremely expensive. This was even the price of keeping it up to date by doing it all yourself without paying another person or company for their time. The study showed that if you did hire someone else every time the house needed an update, owning the home would be not better than renting. As a result, if your home is already quite old and already needs many renovations, it may be a better idea to move into a house that is already up to date and which only needs to be maintained. The bottom line though is that housing is expensive and it is important to find the most economic way for you. Of course, finances are not the only thing that plays a role in this decision. You, or your children, may be very fond of the current house because of all the memories that have been created there. In addition, you may not want to move your children from the area where they have built friendships. Or you may not want to move them while they are in the middle of high school. Other people may simply love the neighborhood and may not want to leave the area. There are many reasons to stay where you are. If this is the case, you may want to ask yourself how important a certain project is. Maybe it can wait for a while or maybe it does not need to be done at all. It would save you the most money to not complete the task if it does not need to be done. However, if it is worthwhile to you for aesthetic reasons or for other reasons, then you may want to complete it anyway. For other people, they simply cannot stay in one location for very long and they feel a call to move every couple of years. You will need to decide on your particular needs and desires in order to make this decision.