Home Additions vs. Moving: Which Is Better?
Does your growing family lack the space you need? Perhaps you have always wanted a dedicated home office, gym, or theater. If there simply isn’t room for the features you want, you may be weighing two options — renovate your home and stay put, or buy a new house and move out. To help you decide which is better, compare the costs, stress, and emotional factors of investing in home additions vs. moving.
Get the House You Want at a Lower Cost
Many clients want to know the cost per square foot of home additions vs. buying or building a new house. However, this is an unfair comparison because renovations tend to focus on the most expensive rooms in the house, including the kitchen and bathrooms.
It’s better to compare the project’s cost directly with the cost of buying a new house, regardless of how much square footage you add or renovate. After all, the goal of both investments is to end up with a home that meets your needs. Renovating is nearly always the more affordable way to accomplish this goal.
Enjoy a Less Stressful Process
Depending on the scope of your home addition, it may be possible to continue living in the house during construction. Even if you must relocate temporarily to facilitate a whole-home renovation, this is still only mildly disruptive compared to the stress of house hunting, selling your home, packing everything you own, and relocating your family.
Complete a Home Addition Faster Than Buying a New House
Depending on the market, buying a house can take many months, if not longer. You must actively search for properties, attend open houses, schedule inspections, make offers, fill out endless paperwork, and close the deal — all before the actual moving process can begin. And that doesn’t even include the process of selling your current home!
On the other hand, designing and building a home addition usually takes no more than two to three months once you hire a contractor. The process is also incredibly gratifying if you like discussing your tastes and bringing your vision to life with help from an experienced design team.
Avoid Uprooting Your Family
Does the thought of leaving your beloved neighborhood make you emotional? Are you hesitant to enroll your kids in a new school where they don’t know anyone? The ability to stay put and still get your dream home is a huge reason to renovate rather than move.
Customize the House to Meet Your Precise Needs
Are you picky about your living space? It’s unlikely you’ll find all the features you want in any existing house. This means, besides renovating, building a custom home is the only way to ensure everything is to your liking. Of course, if you love your neighborhood and don’t want to relocate, renovating is still the better option.
Increase Your Property Value
If you ever move someday, rest assured that a cost-effective home addition will offer a handsome return on investment. Not only can you raise the asking price as a result, but the property will attract more potential buyers because of the added features and updates.
Schedule a Design Consultation
If you’re still on the fence about renovating vs. moving, it doesn’t hurt to meet with Marvista Design + Build to discuss where your home is lacking and the changes you wish to make. During your no-obligation consultation, you’ll learn more about project feasibility, costs, and timelines — information you need to help you make the best decision for your family.