Skip to main content

Education Center


Banking Basics
Home Ownership
Managing Credit & Debt
Mortgage Resources
Privacy & Security
Retirement
Saving & Budgeting
Small Business

To Renovate or Relocate?


The house that was your dream home when you bought it probably won't stay that way forever. Life changes—such as a new job, growing family, empty nesting, etc.—will make your once-perfect home less perfect as time goes on. But should you relocate—or renovate? It all depends on what's driving the change. Take our quiz below to help you with your decision:

QUIZ

You have a new job that means a longer commute from your current home:

  1. Yes
  2. No

Your home has an issue that would be solved by more square footage rather than a different footprint:

  1. Yes
  2. No

Your home is not in the best shape and repairs could be costly:

  1. Yes
  2. No

Your children are moving into a new school year and you are unimpressed with your current district:

  1. Yes
  2. No

You can no longer afford your home in payments or maintenance:

  1. Yes
  2. No

If you chose mostly ‘Yes’ – it may be time to relocate.

What makes moving the best choice? When there are features you just can't get by remodeling, such as a longer commute, school for your kids, unpleasant neighbors, running out of space, or being unable to afford your current home.

If you chose mostly ‘No’ – renovating may be in your future.

Some homeowners just can't imagine leaving behind the memories they've built in a home. That's one instance where renovating the existing property to suit your needs makes sense. A few more include wanting a different footprint in an existing space, needing some minor updating around an otherwise comfortable space, or having a home in fairly good shape which will minimize the risk of costly surprises. 

9/1/22

 

 

This website uses cookies in order to offer you the most relevant information. Please "Accept & Continue" for optimal site performance. For more information, please visit our Privacy Policy page.