If your home is feeling a bit worn out, you’re faced with two choices: you can either renovate or sell your house fast for cash and move. Both of these are expensive, and neither is right for every situation. If you’re stuck between the two, there are several things to consider as you work to make your decision.
How Expensive Will It Be?
The first thing you need to consider in your questions is the cost of both options. Not everyone is swimming in cash, so you have to consider what renovations versus moving is going to take out of your wallet. Renovations can be much more immediately expensive and should only be completed if you have a lot of liquid money right now. However, moving will cost more in the long run, even if that money will be taken out of your account much slower.
The Pros and Cons of Moving
Oftentimes when faced with this decision, many people choose to just move instead of investing money in repairs. This isn’t right in every situation but is often best for those who need more space or want to move closer to their jobs. When you move, you gain a new perspective and a whole new layout to work with, but you also have to spend time searching for the perfect new space and all of your things may not fit. Moving is often expensive, too, and you have to pay for moving vans, closing costs, and all of the various fees that might attach themselves to your sale. It’s not for everyone, but if you need more space or are looking for a shorter commute, moving might be right for you.
The Pros and Cons of Renovating
Renovating is great for homeowners who think that their homes mean too much to them, or with lower budget homes. If you want to keep what you have but need more space or new accommodations, don’t hesitate to renovate. Renovating allows you to custom-fit your home to your needs and tastes, all while you’re saving money that you might’ve spent on moving costs. However, it does come with a downside. You’ll have to live in a construction zone for a while as your home is remodeled, and this will increase your property taxes. Renovation can cost upwards of $41,000, as well, which might not be a price your budget can take.
Is It Better to Renovate or Move?
At the end of the day, it’s your choice whether you want to renovate or move. There are pros and cons associated with each choice, and both will be very expensive. If you love your home, don’t hesitate to renovate– but if you think you need a new space, remember that the housing market is always there to shop. If you’re in a space where you absolutely must move and you’d like to sell your house fast for cash, we can help. We buy houses in Sacramento, and we can typically make an offer on your property within 48 hours. Learn more when you contact us today.