Should I remodel my current home or sell it and buy a bigger one?

by Alessandra Imanabadi

By Alessandra Imanabadi · Nationwide Fine Homes

Start with whether your present home can become what your family actually needs—then compare the complete cost of both paths.

The kitchen is small. The children share a bedroom. Every weekend brings the same conversation: renovate or move?

A larger home is one possible answer. A well-planned change to the home you already love may be another.

Picture the project as a household, not just a drawing

Walls opened, dust, plumbing or electrical interruptions and trades arriving most weekdays can change family life for months. Decide whether you would stay during the work or move out, and include temporary accommodation and storage in the budget.

Before relying on added square footage, have the relevant professionals investigate the site, design and local permit requirements. A concept is not yet an approved project.

Compare complete numbers

For renovation, include design, permits, construction, a contingency, financing and the cost of living through it. Hidden conditions can change a quote, so understand what the contractor included and excluded.

For moving, compare likely sale proceeds with the replacement price, transaction costs, new payment and property taxes. A cosmetic update and a major structural addition are very different undertakings.

In my experience, sensible nonstructural improvements can be worthwhile. But adding space cannot change the neighborhood, street or lot.

Your agent should help establish today’s sale value and realistic replacement options, while the design and construction team evaluates the renovation.

I would be pleased to help you explore the property side of both choices. You can consider those possibilities without having decided to sell—or to stay.