Is your home ready for a refresh? Is it starting to feel stale, outdated, or cramped? Do you find yourself daydreaming about a fresh, updated space? After living in your home for several years, you may find yourself at a crossroads trying to decide whether to remodel your home or upgrade it altogether.
A home refresh can mean different things to different people. For some, it might mean a full remodel or renovation, while for others, it might mean a brand-new home. Today we’ll explore the key differences between remodeling and upgrading your home.
Remodeling Your Home
Making the decision to remodel your home has its pros and cons. If you're considering a remodel, think about the areas of your home that need the most attention. The most common reasons for a remodel include an outdated kitchen or bathroom and needing more space for a growing family or multigenerational living. A remodel can be a significant investment, but it can also significantly increase the value of your home if done correctly.
On one hand, remodeling allows you to personalize your home and make it more functional for your current lifestyle. You may also increase the value of your property with updates that appeal to buyers.
On the other hand, remodeling can be a costly and time-consuming process. It may also be stressful to live in a construction zone filled with strangers while the work is being done. Additionally, unexpected issues can arise during the remodeling process that can add to the cost and delay project completion. In some cases, the cost of remodeling may outweigh the potential return on investment if you plan to sell your home in the near future.
Buying A New Construction Home
New homes come with new home warranties and modern conveniences, and in some cases, can be a more affordable alternative to a remodel. A new home requires less maintenance and repairs over time.
There are several factors to consider when deciding whether to buy a new home or remodel an existing one. While both options have their advantages and disadvantages, buying a new home is often a better overall move than remodeling. Here are some reasons why:
A small renovation project can quickly add up to tens of thousands of dollars, while major renovations can cost much more. On the other hand, buying a new home may seem more expensive initially, but can actually save you money. Buying a new home means that everything is new, so you don’t have to pick and choose between upgrades. Plus, new homes come with energy-efficient appliances, up-to-date insulation, and HVAC that can reduce your monthly utility bills and maintenance costs.
Remodeling can be a lengthy process, especially if you plan on doing the work yourself. You'll need to take time off work to manage the project, purchase materials, and complete the work. Buying a new home can be a much smoother transition as all of the heavy lifting is taken care of by the Jenuane team to your preferences and specifications. Plus, if you’re looking for a high-quality home in a hurry, Jenuane has a great selection of quick-delivery homes to give you all the perks of a new construction home without the wait.
If you're thinking about the future, buying a new home is a better investment in terms of resale value. A newly built home will likely appreciate in value over time, especially if you purchase in a desirable neighborhood. In contrast, a home that has been extensively renovated may not have the same appeal to future buyers.
Getting Exactly What You Want
If you're looking for a home that meets your specific needs and tastes, buying a new home gives you more freedom. You’re able to choose from multiple communities, floorplans, and options to make sure your new home suits your lifestyle and includes the features you want, like a large backyard, multigenerational living quarters, or a home office space. While you can certainly remodel an existing home to make it your own, you may be limited by the existing layout, budget, and lot size.
To Remodel Or To Upgrade?
Ultimately, the decision to remodel or upgrade your home depends on your personal circumstances, including your budget, timeline, and goals for your property. Remodeling an existing home can be a great way to update and improve your living space while buying a new home offers the advantages of lower long-term costs, greater customization, faster move-in time, and higher resale value.
If you’re ready for an upgrade, it’s time to speak with a real estate professional on our concierge team today to see what you qualify for the home of your dreams might be more attainable than you think.