The moment your property ceases to accommodate several facets of who you are, then it falls upon a specific point in which you need to decide: relocation or renovate? We know that this decision isn’t to be taken lightly, which is why at Pluum Construction we have a wealth of experience in making the process smooth and easy. With so many factors to consider, from budget and location to the often reported stress that comes with moving house. To make a conscious, educated pick here is the ultimate list breaking down your journey of picking one.

1. Assess Your Home’s Condition

If thinking about moving to a new extension or renovation, out for better look around your existing home. Maybe it requires major fixes or renovations? What about the plumbing, electrical and roofing systems? Inspection studies can prove that to you whether it is possible for overhaul next or should proceed with a new start.

Key Questions:

What are the significant challenges that need to be addressed at a structural level?

Would you like a new kitchen, bathroom or roof?

Measuring how energy efficient your home is

2. Think About How Much You Like It

You may have fond memories of your home as well, if you built them there. Hiring a skilled remodeling contractor instead of moving to new construction jobs also allows you to stay within your neighborhood and keep those connections with the community that resonate. On the other side, a new home signifies a blank canvas and opportunities to be filled.

Key Questions:

How connected are you to your neighbourhood and community?

Are you looking to improve or maintain your current style of living?

3. Evaluate Your Budget

One of the most common motives for moving or renovating is money. When you move, there are costs associated with the real estate agent fees, closing cost and moving expenses. On the flip side, remodeling does have construction costs and you cannot anticipate all possible surprises during renovation.

Key Questions:

What will remodeling your home cost?

How does that stack up against the costs of selling and buying a new home?

Are you financially prepared to foot the bill for major repairs if it turns out your home needs a little more work than just fresh paint and some new lighting?

4. Space and Layout Needs

Is your current home feeling cramped, or is the layout not working for what you need? Remodeling provides an opportunity to refigure your home with new bedrooms, a bigger kitchen or open-concept living space. However, if the changes needed are substantial moving may be better.

Key Questions:

Isn’t there enough real estate to fit your own home or you will need more space?

Is there a way to get the floor plan you want through remodeling, or are some options off-the-table?

5. Neighborhood Considerations

Where your home is located often dictates whether it makes more sense to move or remodel. If you love your neighborhood, schools and access to work or family are invested in where you live then remodeling might make more sense. But if you have outgrown your neighborhood then perhaps it is time to look for an alternative().

Key Questions:

The Question be like Hows your neighbourhood these days? Is it safe, easy to use and good for what you need now but also later on?

Would a different area of the city be more conducive to your lifestyle?

6. The Impact on Property Value

On the one hand, remodeling your home increases its value; on the other; you don’t want to over-improve for your neighborhood. However, if moving allows you to upsize or enter a larger market for long-term financial growth by selling your current asset base somewhere where prices are more accommodating then it might mean that sell and rent back is not advantageus after all.

Key Questions:

Finally, can the remodel raise your selling price and cover its own expenses?

Is there a price ceiling in your neighborhood that might cap your ROI?

7. Stress and Time Involved

Remodeling is stressful. Depending on the scope of work, you will most likely have to live in a construction zone, or even temporarily relocate with your family. Moving is also stressful, involving packing, organizing, finding a new school or neighborhood, and everything else that comes with the big change. Key questions: * How much time and energy are you willing to invest in the remodel, including finding, and negotiating a contractor and a condo? Is moving less costly for your family? 8. Long-term plans: When making a decision whether to move or remodel, you should consider your long-term plans. Do you want to live in the current house for the next 10-15 years, want to downsize soon, or anything in between? If your current house is the final home, remodeling is worth it. If there is a move ahead, it is wise to sell sooner rather than later. Key questions: * How long do you plan to stay in this house? * Is this house going to be big enough for the next 10-15 years, up to two decades? Last considerations: Ultimately, you need to establish the factors that matter to you. Your choice depends on your needs, budget, and goals. If you love the neighborhood and think that this remodeling will give you the home of your dreams, then some of the costs in emotions and money may be justified. Otherwise, if the house is no longer suitable for the lifestyle, you envision, then moving is the best option. Pluum Construction specializes in helping homeowners get their dream spaces. We can guide you through the process if it’s about the kitchen, bathroom or taking up your square footage mantle.

Ready to Make Your Decision?

Whether you are ready to take the next step and remodel or need a professional opinion on whether remodeling is right for your specific situation, contact Pluum Construction today. We can make a plan with your lifestyle and affordability in mind. If you are upgrading a solitary room or re-designing your whole home, count on our skilled team.