Relocating vs. Remodeling – Deciding Whether to Stay or Move

“It’s easy to tell when you need more space or a new configuration – the trick is in how best to achieve it. Both relocating and remodeling are commonly used to accomplish the objective, and each can be satisfying and effective if you go in with all the knowledge you can glean. Choosing correctly can minimize your aggravation and ensure your family years of good living.”

Relocating Vs Remodeling

Historically, almost two-thirds of households in America live in a place they own. Homeownership is a key prong of the American dream, and according to a American Housing Survey by the U.S. Census Bureau, some 9 out of 10 Americans achieve it during their lifetime.

Also key to American homeownership is the notion of moving up – i.e., buying a home, living in it for a few years, then selling to reap the profit in order to purchase another property, either a higher-value place or one that better suits the owners’ current living situation. This was particularly popular in high-growth areas like California and Las Vegas. But that was before the recent economic downturn and a massive slump in housing prices. Now, the decision to sell your house and trade up is not as clear-cut as once thought, and owners are left wondering, Should we stay, or should we go?

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