Planning to stay just a few years - Should you Remodel or Move?
By Dan Fritschen
www.RemodelorMove.com
If you are planning to live in your home for 20 more years; deciding to remodel
can be an easy decision. But what if your future isn't clear and you may be
moving to a different home in a few years? Should your remodel or bear with
the status quo waiting for your new home?
The following table provides a recommendation on what types of remodeling projects
can make sense in the short term.
Quick Remodel Decision Table
| |
How much longer will you stay in the house?
|
|
Type of project
|
0 to 1 years |
1 to 3 years |
|
New doors and new windows
|
OK¹ |
OK¹ |
| Paint or refinish bathroom and kitchen cabinets and install new hardware |
OK¹
|
OK¹ |
| New baseboard, crown molding, etc. |
OK¹
|
OK¹ |
|
New flooring (carpet)
|
OK³ |
OK³ |
|
Refinish hardwood flooring
|
OK³ |
OK³ |
|
New hardwood or tile flooring
|
Not recommended² |
OK³ |
|
Major kitchen remodel
|
Not recommended² |
OK¹ |
|
Add on a 2nd Story
|
Not recommended² |
Not recommended² |
|
Add on a new bathroom
|
Not recommended² |
OK¹ |
| Finish a basement or attic |
Not recommended² |
OK¹ |
| Add on a new room |
Not recommended² |
Not recommended² |
| Enlarge an existing living room or family room |
Not recommended² |
Not recommended² |
| Add on a new master suite |
Not recommended² |
Not recommended² |
¹Note that this recommendation assumes that you will use economy
or average grade material and spend an average amount on labor and the materials.
If you are going to move in a few years, it is not a good idea to do even a
simple remodel using expensive custom materials since you will only have a few
years to enjoy the results and the next owners probably won't pay you even 50
percent of what you invested in these improvements.
²These projects are not recommended if you will stay in your
home for a short period since the projects are relatively expensive and/or can
take several months to complete. Since you will only stay in the home for a
short perio
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