Should You Renovate or Just Move?
Did your kitchen feel bigger when you first bought your home? Does your bathroom need some changes that you didn’t notice before? Do you invest in these renovations or just get a house that has what you want? This is the battle of home ownership.
Our thoughts? It depends. Renovating a home may be a worthwhile investment, especially if you decide to sell it later. On the other hand, it is possible to renovate to the point where the cost outweighs the reward.
When figuring out whether to renovate or move, get ready to research. Ask yourself the important questions and look at the numbers. Will there be a return of investment? There are also resources out there to help you. According to the Appraisal Institute, there are certain renovations that have less financial risk and tend to yield larger returns.