Remodel or Move?

Anyone who has tackled a remodeling project knows the feeling: what started out as a simple bathroom renovation becomes infinitely more complicated. Perhaps it’s something simple like an irreplaceable part. Perhaps the remodelers tells you the kitchen is in the same shape as the bathroom. Perhaps a decision to add on to the home now includes the county zoning board. Perhaps you’re pretty handy around the house and have decided you can handle the project, even though you’re expertise is confined to emergency repairs. Perhaps you think you can handle the project alone because you saw someone else do it on HGTV.

And then, in the midst of your messy remodel, someone shows you a house that already has everything you’re hoping to achieve in a remodel.

Dan Fritschen has created a Website that helps homeowners decide whether to
remodel or move.

“It’s well worth your time to pause and consider what your proposed project entails, and whether the commitment is worth the time, energy, and money you’ll end up pouring into it,” says Fritschen.

He’s come up with the Should I Remodel? Online Calculator which asks 15 pertinent questions ranging from personal preference to the hard numbers of your financial capabilities and compiles the answers.

But here are some entry questions that should be considered before undertaking the project.

Which are we more excited about: Hawaii or hardwood floors? If you pick hardwood floors, then by all means go ahead. This value clarification has shown how important the remodeling project is. Once the Hawaii vacation is but a memory, you’ll still come home to the outdated kitchen and cramped bedroom.

Are we remodeling to keep up with the Smiths? Not that there’s anything wrong with keeping up with the Smiths, but here’s a better question: can you calculate the increase in the value of the home post remodel.

Of course, some homeowners enjoy the remodeling process, shopping for tools, and know that when the project is completed, the house will have that one missing piece that makes it perfect. “If you really want to remodel because you love the design and remodeling process, then go ahead,” urges Fritschen.

But if it looks like the house is going to need a lot of renovation, then at some point the homeowners will be tempted to think about moving. However, the decision to move is also littered with potential land mines. But here’s the biggie: is the new house going to be the answer to your dreams, or does it too need improvements. If so, we may be trading one set of problems for another.

If nothing else, looking at other homes before you plunge in may give you better ideas about how to approach the remodeling job. You may come away with a totally new take on the remodeled kitchen by looking at someone else’s.

After seeing the alternatives, home owners can come away with a more realistic assessment of the problem, and maybe even a new appreciation of “home sweet home.”