CONTACT US! +
CONTACT US! -

Love It or List It?

When You’re Deciding Whether to Stay & Remodel Versus Move, Here’s What You Need to Know

No matter how much you loved your home when you first bought it, your needs can change over time. As that happens, your home’s layout and rooms may not be as ideal as they once were. That can leave you with a house that just doesn’t feel like home anymore.

When that happens, you have two options:

  1. List your home and move to a home that’s better suited to your needs and preferences
  2. Stay in your home and plan a remodel to make your home the ideal space you want

Whenever you’re facing this decision, here are the most important things to consider so you can make the right choice for you and your family.

6 Questions to Ask Yourself When You’re Thinking About Moving

Should I stay, or should I go? To help you answer that question, here are six other questions to ask yourself and answer.

1. Do I like or love my neighborhood?

If you’re in love with your location and your neighborhood, staying in your home and remodeling can be a good option. If not, you’re probably going to want to move to get what you want in terms of location, neighborhood, and your home space.

2. What are my long-term plans?

In general, if you aren’t planning to stay in your home for at least five years after a remodel, gutting and redoing your entire home is probably not worth it.

So, as you think about your long-term plans, consider whether your family is growing, whether kids are moving out, and whether you want or need to stay in your current location for your career, schooling, retirement, or other aspects of your life. Looking at the bigger picture is a great way to help you make the remodel versus moving choice.

3. Would it be easier to move to get everything I want from my home?

Consider your home’s layout, functionality, and rooms. Do you want to change any or all of these elements dramatically? Or are you generally happy with some of them?

If you are looking for drastic changes in your home’s overall structure and design, the home you want may already exist—and you may be better off selling your current house and simply moving into your ideal new home, rather than doing a remodel.

4. Am I totally out of space?

If you’re completely out of space, moving to a bigger home is usually a better solution than remodeling.

5. What would I be willing to spend on a remodel?

Think about your budget for a remodel, and then consider this—initial budgets for remodels can and do grow.

This usually happens when unforeseen obstacles arise or when projects grow in scope once they get underway.

So, are you willing to spend more than your initial budget? Do you have the financial flexibility to handle an increasing budget?

If not, taking on a remodel project may not be a good idea for you.

6. How much of a priority is resale value?

If resale value is a high priority for you, you need to think about how much you spent on your home plus what you would spend on a remodel. Then, consider what you could reasonably list your home for to determine if a remodel is really worth it for you.

7 Factors to Consider When You’re Thinking About Remodeling

If you’re leaning toward staying in your home and remodeling your space, here’s what you need to think about and be prepared for. Taking the time to consider these factors before you move forward with a remodel can help you set realistic expectations and properly prepare for your project.

1. Research

Well before you start developing plans for a remodel, you need to do a lot of research. From layout and design to details like colors and fixtures, there are endless options. Doing your research will help you make informed choices about exactly what you want. It can also help you avoid changing your mind and causing delays once the project starts.

2. The best areas to start with

Although every remodel project is unique, updating kitchens and bathrooms is usually the best place to start. One reason is that these tend to be the most highly trafficked rooms in homes. Remodeling them can offer homeowners more day-to-day benefits.

Another reason is that kitchen and bathroom remodels typically offer greater returns on investment (ROI).

In fact, the 2019 Dallas Cost vs. Value report shows that the average Dallas-area homeowner can expect an ROI of 57% to 79% on a kitchen remodel project and an ROI of 62% to 71% on a bathroom remodel!

3. Your budget

As explained above, remodels are rarely under the budget that homeowners initially set. This means that, once you decide to remodel, you should be prepared for the initial budget to grow.

Plus, since you’re probably not going to do another remodel immediately after your current one, you should be open to investing in what you really want, instead of compromising your vision.

4. Your home’s value

How much did you spend on your home and how much is it worth right now? Thinking about value and what value a remodel may add can help you decide how much (or little) you want to remodel and what makes sense to spend on it.

5. The scope of the project

When remodels start, the list of “wants” usually increases. Be prepared for the scope to grow and evolve as you start moving through the interviewing and design stages of your project.

6. The timeline for the remodel

Remodels take time. So, you need to be prepared for a process, instead of quick results. You should also prepare yourself for delays that can be caused by unplanned factors, like back-ordered items, delays in getting permits, etc.

7. Whether you’ll stay in the home or move out during the remodel

Will you want or be able to live in your home while the construction is happening? If not, where will you stay while construction is taking place? This is something you need to plan and prepare for ahead of time so your daily life isn’t disrupted too much when construction gets underway.

Ready to Remodel? Contact Hatfield Builders & Remodelers

Whenever you’re ready to get a remodel project underway, contact Team Hatfield! We offer a personalized design-build approach, backed by the highest-quality home remodeling services available in the North Dallas area.

When you work with us, we’ll take the time to fully understand your vision and needs while guiding you at every phase of your project.

To get started, call (214) 278-6261 or contact Team Hatfield online!

We also invite you to check out some of our before and after project photos, as well as our excellent client reviews, to see why we’re a leading choice for remodeling services throughout North Dallas!

 
Posted on: July 29, 2019
THE HATFIELD PROCESSLearn More >>
  • 1
    Initial Meetings
  • 2
    Space Measurement
  • 3
    Project Selection Meeting
  • 4
    Design Package Review
  • 5
    Initial Budget Review
  • 6
    Selection Finalization
  • 7
    Construction Agreement & Deposit
  • 8
    Pre-Construction Hand-Off Meeting
  • 9
    Start of Construction