Why It’s Smart to Buy Now: Is It Time to Renovate Your Current Place?

Is your home dated and starting to show its age? It may be time to renovate… or find something brand new!

Many people would rather upgrade their current home than put a down payment on a new one, but that doesn’t mean renovating is always the smart financial option. Ask yourself these four questions as you consider whether now is the time to move.

1. Is it cheaper to renovate or move? Cost is a major factor in home improvement decisions. Whether it’s cheaper to renovate or sell depends on your current mortgage situation, as well as how much cash you have in savings. Renovations come with immediate out-of-pocket expenses and potential unknowns that could impact your pockets more than you wish.

2. What will you miss about your home? You and your family may be attached to your current home. What do you love about your current home that keeps you there?

3. What really bothers you about your current home? Is it in an area that is no longer appealing? Does the whole home need a renovation at some point? Are the rooms open and inviting? Your current home may be meeting some of your needs, but possibly not all of them.

4. Do you have the time and energy to renovate? Renovations can disrupt your home for weeks, if not months. Consider whether or not you have the time to manage the renovation projects and the energy to deal with a disrupted home.

Moving may be your best option. Whether you’ve outgrown your current property, see a good sales opportunity, or simply think a new home may be less stressful, there are plenty of reasons to consider putting your home on the market.

Before making that big decision on whether to move or remodel, consider including your loved ones in the process even if the final decision is yours. Thezebra.com has a great flowchart that might help you boil down some of your choices.

If you need some help making your decision, let our team at Ideal Homes & Neighborhoods guide you through the process of new home buying. We have expert loan officers and financial guides who can help you understand the total cost of owning a new home.

Not to mention, Ideal offers warranties and amenities second to none. Right now, there are savings and special promotions on custom-built homes in several neighborhoods that are definitely worth checking out. Forget singing those renovation blues and let our team help you find your perfect new home!