Should You Remodel or Move? 3 Things to Consider

Settling into your dream home is among the top aspirations for many people. Deciding where to live long-term depends on various circumstances such as employment opportunities, school districts, plans for family growth and changes in costs of living. Perhaps you are in a home you are happy with, but you want to spruce things up a bit. One option is to invest in remodeling projects to help adapt and freshen up your property. However, if remodeling is not the right step, another option is to move into a new home.

So, should you remodel your home or pack up your belongings and relocate? It’s a big decision.

Factors to consider when remodeling vs. moving

Consider Costs Involved

Everyone’s personal preferences and financial situations are totally unique. Weighing the pros and cons of moving vs remodeling your home can be nerve-racking, so we’ve outlined just a few things to keep in mind.


  • Consider all potential costs involved in moving. For example, professional moving services are extremely convenient but typically charge by the minute. Many people also rent trailers or storage units to hold their possessions, which can add up quickly. Real estate agent fees can vary, depending on where you’re searching.
  • If you’re living in a home in which you raised your children or simply desire to dwell in a smaller space, you may be considering downsizing. For some, downsizing can also help alleviate financial strains.
  • There may come a time in which you start to feel complacent in your home. If this is the case, moving could be an excellent option for your family. Plus, investing in a new property allows you to expand your portfolio.


  • According to HomeAdvisor, the average home renovation in the U.S. costs more than $12,000. The typical range is between $3,900 and $21,000, with some projects costing up to $56,000. Of course, this depends on the size of the project and the location. If you’re willing and able to invest the money in a renovation, be sure to create a budget and stick to it.
  • Remodeling may end up costing as much as – or less than – moving. Again, this depends on the location (e.g., the distance between your current and new homes, economic aspects, etc.), budget constraints and other key items. For instance, why spend thousands on moving costs alone when you could potentially renovate for nearly the same price?
  • When done right, renovating can help to improve your home’s value, resulting in more money in your pocket if and when you decide to move.


The real estate market and interest rates undergo constant change due to various economic fluctuations, which is why it’s important to pay close attention if you’re wanting to sell and/or buy.

According to Zillow, the locale should always be taken into account when selling or renovating. This can range from an entire state or region to a specific neighborhood within a city. If you’re leaning towards moving, thoroughly researching the current real estate market should be one of your first steps.

Most people hope to profit from selling their home. Again, remodeling parts of your home will likely increase its value. However, it’s important to keep in mind your prospective return on investment (ROI). In other words, if you spend thousands of dollars on a renovation, will you end up getting your money (and more) back?


Did you know that 60% of people find moving to be the most stressful life event one can possibly experience? If you’re on the fence, take into consideration the amount of time, money, and energy it would take you to find a new home, sift through and box up your valuables, coordinate the move and say goodbye to neighbors, friends and family members. If you live in an area with lots of amenities, a strong sense of community and other qualities, moving could be hard. This isn’t to say remodeling isn’t expensive nor stressful. At the end of the day, take the time to evaluate each alternative carefully before diving in.

Whether you decide to remodel or move, having a reliable home insurance policy that is custom fit for your specific needs is important. To learn more, contact your local Rural Mutual agent.