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Stay Or Sell: Factors to Consider When Deciding on Your Home's Future

At some point in your home life, there comes a time when you are thinking about whether to stay where you are or to pack up and move to a new house with space and furnishings that better suit your family’s lifestyle and needs. 

Both options require a relatively large amount of investment in terms of time and money, so you should be aware of the factors to consider before you decide whether to move or finally embark on that kitchen remodel you’ve been planning for so long, change the entire look of your bathroom, and all the other areas of your home that need to be renovated so your home feels like home again.

Is it better to sell or renovate?

Here are the key considerations when deciding whether to remodel your current house and stay put, or move to another house.

Research the market

Based on statistics, 35% of U.S. homeowners are interested to move house rather than remodel. To find out whether moving house is a suitable option, you can start by researching online about the current market value of your house, as well as the price of houses in your desired neighborhood. Engage a real estate agent if you are not familiar with the process, and they can easily explain and guide you through the process. If you have a school-going child attending school right in your neighborhood, moving house will definitely affect the logistics of sending your kid to school.

Consider the timing

If you are keen to remodel your home, deciding on the level of renovation can be determined by how long you would like to stay in your current home. If you are staying for only a short time (less than five years), you can choose cosmetic touch-ups such as fresh paint, different cabinet styles, and new counters, as some of these can be do-it-yourself projects. On the other hand, if you are planning to stay for the long haul (decade or more), we recommend something called a pull-and-replace plan, where you can pull out old cabinets, fixtures, and/or appliances, and replace them with fresh furnishings, without changing the current floor plan.

Be prepared for time and costs involved

If you are planning for a major home remodeling for hosting large family gatherings or carving out an entirely new space for your child’s hobby, you’re probably wondering how much should you spend on home renovation. Still, be mentally prepared to spend quite a bit and invest your time to see through the project, as it will involve setting up a satellite kitchen or even renting another house during the renovation works. This should be well-planned ahead and all members of the family should agree to the works as it will inconvenience everyone in one way or the other.

Choose the right contractor

Be it staying or selling, get ready to engage the right contractor to help you through the remodeling or selling process. Read online for reviews and get referrals for the best person so that you will have one less worry for this major home decision. It is important to get a trustworthy contractor so as to save unnecessary costs and worries during the process.

Move or remodel your home? Find out how Kitchen Magic can help!

Ultimately, staying or selling involves lots of planning and decision-making before taking the huge step forward. If you’re wondering if it is cheaper to buy a new house or remodel an old one, the answer is simple; Remodeling can be an ideal solution for your current house if you are satisfied with the location and still enjoy staying there. For a comprehensive solution, head over to Kitchen Magic’s website and learn more about the remodeling and refacing options for a practical way to create your dream kitchen. Get the perfect set up and save yourself the hassle of moving house as many other homeowners have done this before with Kitchen Magic!

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