At some point, every homeowner reaches a crossroads. You love your neighborhood, but you’ve outgrown your kitchen. You love your backyard, but you really need another bathroom. This leads to the ultimate question: “Do we move, or do we fix this?” It’s a massive decision that involves finances, emotions, and a lot of logistics. When you’re weighing remodeling vs buying a new home, you have to look past the “For Sale” signs and consider what’s truly best for your long-term happiness.
The Financial Reality of Moving
Many people assume that buying a new home is the “easier” path to getting what they want. However, moving is expensive—often much more expensive than people realize. Once you factor in a Realtor’s commission (usually 6%), closing costs, lawyer fees, and the physical cost of moving your life, you could easily spend $40,000 to $60,000 before you even make your first mortgage payment.
Plus, in a competitive market, you might have to compromise on the house you buy – meaning you’ll likely end up remodeling the new house anyway. When you choose remodeling vs buying a new home, that same $50,000 could go directly into a high-end kitchen remodel or a master suite addition in the house you already own. You aren’t “losing” money on fees; you’re reinvesting it into your own equity.
The “Grandfathered” Advantage
There are certain things a new house can’t provide. If you’ve been in your current home for a while, you likely have a property tax rate and a mortgage interest rate that are much lower than what’s currently available on the market. Moving could mean a significant jump in your monthly overhead, even if the house is a similar price. By opting for a remodel, you keep those favorable financial terms while finally getting the layout and features you crave. It’s the best of both worlds!
Location, Location, Location
You can change almost everything about a house except for where it sits. If you love your school district, your commute, or the fact that your neighbors have become your best friends, moving is a huge risk. We see many families who try to move to get more space, only to realize they miss the community they left behind. When comparing remodeling vs buying a new home, remember that you’re also “buying” a new neighborhood. If you’re already in a place you love, staying put and adding on is usually the smarter move.
Dust vs. Moving Vans
Let’s be honest: both options are stressful. A remodel involves living with some dust and noise for a few weeks or months. Moving involves the massive task of packing, the uncertainty of house hunting, and the logistical nightmare of coordinating closing dates. However, a remodel is a controlled stress. You know exactly what the end result will be because you designed it yourself. When you buy a house, you’re inheriting someone else’s choices and potential hidden problems.
How to Decide: If you’re still on the fence, ask yourself these questions:
- Is the foundation sound? If the house has major structural issues, it might be time to move.
- Is there room to grow? Do you have the yard space for an addition, or can you reconfigure the existing footprint?
- Do I actually like the bones of this house? If the answer is yes, a remodel is almost always the better path.
Let Kaz Give You a Second Opinion!
Sometimes, you’re just too close to the problem to see the solution. We’ve had many clients who thought they had to move, only for our designers to show them how a simple wall removal could completely change their lives. Before you call a Realtor, call us. At Kaz, we can give you a realistic estimate and a design vision for what your current home could become. You might be surprised to find that your dream home is the one you’re already standing in. Let’s chat when you’re ready!