Everyone envisions moving into his or her dream home. As they age, their family expands, their children grow older, and suddenly they find themselves considering remodeling their home, or simply moving to another house. Many people love their home and neighborhood, but dream of having a gourmet kitchen or luxury suite bedroom and bath. They consider the possibility of looking for a new house or simply staying and remodel their existing one.

Either option will involve an investment of money and time. Both remodeling and moving have financial and emotional consequences. By approaching the problem logically and rationally, you can reach a quality decision that will perfectly meet your needs.

Moving


Moving into a pre-owned home gives you the opportunity to avoid the long months of remodeling, which often causes stress and frustration. However, the new home will need to have all the fixtures, appliances and amenities you desire. If not, you can easily find yourself dreaming of remodeling the new home you have just moved into, and start the process over again. Additionally, there is a significant cost to moving including transporting all of your belongings, and paying the increase in property tax. You will also have to deal with all the hassles and expense associated with selling your existing home.

Remodeling


Remodeling any portion of your house can be affordable if you can pinpoint the exact cost. Architects, general contractors and subcontractors can assist you in obtaining quality bids to determine exactly how much each remodel job will cost. With the assistance of a real estate agent, you can determine exactly how much value will be added to your home for each remodel project. By gathering all pertinent information on your proposed remodel job, you can reach a logical conclusion in determining if it is better to remodel or move to a new home.

Financing


It may be easier to acquire financing on your existing home versus purchasing a new one. Many financial institutions are willing to offer you a line of credit on the existing equity in your home, without the need to qualify. Financial institutions offering mortgages make you go through a tremendously long process, and charge exorbitant fees to complete the loan.

By remodeling your home instead of moving, you can perform each remodel job as you can afford it. Modeling also affords you the ability to choose the design, paint colors and style of any room you choose to redo.