Wishing your home was more modern or updated? There are many cool things that can be done with homes today to increase value and make living spaces more comfortable.
Whether you’ve been dreaming of a kitchen island or updated flooring, or your goals are more practical like energy efficient power systems, appliances, or smart devices for controlling utility usage, it’s wise to weigh the cost of upgrading your current home against moving into a new one that already meets your expectations.
The primary benefit of remodeling is that you can stay put — you don’t have to go through the process of finding a new home, purchasing it, and moving your stuff.
At the same time, buying a new home is sometimes easier and more cost-efficient than remodeling an existing house. A large-scale remodel often takes more time and money than most people plan for, not to mention it is disruptive to everyday life in your home while renovations are in progress.
Mitten Made Properties has seen a lot of Michigan homes – some dated, some brand new – and here are a few signs that moving might make more sense than remodeling.
Your House Has Significant Equity
Having a lot of equity in your home means that when you sell, you’re going to get more money in your pocket. So rather than spending money on a remodel, selling can be more cost-efficient for high-equity homeowners.
You Are Excited about Moving to a New Area
If you’re looking forward to moving to a new Metro Detroit area or even a warmer state (Florida, anyone?), then selling is obviously a great idea. Consider the benefit in changing school districts, being closer to your job or extended family, or just shaking things up for the sake of adventure.
The Math Points to Moving
There might be some math involved in this decision, but it’s important to get out that calculator and figure out if moving is more affordable than remodeling your home. It’s a good idea to add at least 20% to whatever you think renovations will cost, because inevitably something happens to drive up the price. Then do some window shopping for new homes that are already upgraded. In Southeast Michigan and across the country, there are many great homes on the market right now for a fair price. One just might be perfect for you and your budget!
If you do decide to move, Mitten Made Properties can make getting out of your current home simple. We can buy it fast for cash, saving you the headache of going through the lengthy and expensive selling process with a realtor. We buy homes completely as-is, so you won’t even need to deal with an inspection or repairs. Give us a call at (248) 883-3340 to see what we can offer for your home!