Both moving and renovating can be stressful, costly, and time-consuming. Here are two things to consider regarding whether to sell or renovate:
šø Is it cheaper to renovate or move?
Renovations come with immediate, out-of-pocket expenses, whereas moving can put money in your pocket now but may cost you more down the line.
šø Is the timing right for you and your family?
Consider that moving translates into changing school districts, commute routes, and mortgage costs. Renovating your house, on the other hand, comes with immediate expenses, with the average home remodel costing $46,503. Would it make sense to take advantage of your equity and sell for extra cash?
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