Solving the move-or-remodel dilemma starts by answering hard questions about money, social relations, life stage, and the future. It’s hard to find unbiased advice, says Dan Fritschen, who runs the website remodelormove.com. “The industry doesn’t make it easy to talk to experts and get real numbers. A good real estate agent should be able to discuss both moving and remodeling, but it’s difficult to get someone to talk through the options.”
The financial decision starts with a comparison of the total cost of moving and remodeling. Most sales start with some expenses for sprucing up the old place.
Experts ballpark moving costs at about 15% of the price of the new home, but this varies widely. Selling the house yourself can save the real estate agent’s commission.