Does the home you're living in still meet your needs? If not, there are two different approaches you can take. You could sell your current home and move into another one. Or, you could remodel your current home. It's hard to say what the better option is, as it largely depends on your lifestyle, budget, and preferences. Our real estate agents have helped many clients find more suitable homes, but they've also seen some incredible remodels. At the end of the day, there are a few factors to consider when deciding whether to move or remodel.

• Relative Cost
  Work with a real estate agent to figure out how much a home in your desired neighborhood — one that truly meets your current needs — would cost. Your agent can also work with you to calculate how much your monthly payments would be on such a home.
  
  Also, get quotes for any work you'd need done to your current home to make it more livable. For instance, if you need an extra bedroom and bathroom, get a quote for having an addition built. Compare the cost of remodeling to the cost of moving, and see which is more affordable.
  
  
• State of the Market
  At times, the real estate market will be a seller's market, meaning that there is an abundance of buyers willing to pay for your home. At other times, it will be a buyer's market, meaning prices are lower and selling takes a bit longer.
  
  If you're in a seller's market, it may be wise to sell your home and move now, when you can capture a higher price. Or, if you're in a buyer's market and can't afford to have a house sell low, you may want to remodel and stay in the home a few more years.
  
  
• Emotional Attachment
  Some people are really attached to their homes. If your current home is the place where you celebrated certain anniversaries, brought home children, or lived through some other really meaningful life experiences, the idea of leaving it behind may make you sad. That emotion deserves to be honored. If there is a way to remodel the home to suit your needs, then you might want to take this route.
  
  On the other hand, if you don't feel overly attached to the space, selling and moving to a new home is often easier and faster than scheduling a major remodel.
  
  
• Feasibility of Moving
  If you don't remodel, remember that you'll not only be negotiating a real estate transaction, but also moving. Ask yourself how feasible this is right now.
  
  Do you have other reasons to move, such as wanting to be closer to work? If so, this points to moving being the better option. On the other hand, if the idea of moving seems overwhelming, you may want to remodel instead.
  
  
• Return on Investment
  If you do remodel your home, what changes would you make? Consider whether these are changes that would make the home more valuable overall.
  
  Kitchen and bathroom renovations, for example, tend to offer a good ROI and are almost always worth it. If your remodel would involve something more niche, such as adding a dog room to the home, then it may not increase your home's value. This would point towards moving being a better choice.

There is nothing wrong with living in a home for several years, then moving to a different home that better serves you. Everyone's needs and preferences change throughout their lifetime. Contact us if you're looking for a new place to call home; we're happy to help.