Making it perfect vs starting over
Sixty percent of Americans agree that moving is the most stressful life event — but is living in a construction zone any easier?[1] If you’re a homeowner and you’re antsy about your current living situation, you have two options: to renovate or move. There’s a lot to consider when making this decision, from your financial situation to how it impacts your home insurance.
When given extra funds and a choice between the two, 76% of Americans said they would rather upgrade their current home than put a down payment on a new one — but that doesn’t mean renovating is always the smarter option.[2] Several factors impact whether scheduling renovations or buying a new home is the best financial and emotional decision for you and your family.
Below, we’ll review the pros and cons of both renovating and relocating, and we also feature four questions to ask yourself before you call in a realtor or contractor. You can also jump to our flowchart below to help you decide in three minutes or less.