Selling vs. Remodeling

Here's how to decide if it's better to renovate or move on.

Should you stay or should you go? Keep these pointers in mind when determining if there’s more value in fixing up your existing home or moving on.

First, estimate your costs to buy a new home. Add up the selling and agent costs (packing, moving and loan financing). Don't forget hidden items. For example, the buyer may ask you to replace the carpet before you sell. Or what if you have to replace appliances? Make your best effort to include everything it will cost in time and money to sell your home and buy a new place. Then estimate what you may get for your house and how much cash you will have for a down payment.

If you like your neighbors and your school district, consider remodeling. You can get exactly the home you want, and you won't risk any buyer's remorse. Estimate the cost of making the crucial renovations needed for you to stay. Decide what you would like to do and go price-shopping at a home improvement store. Call contractors and get estimates. This is especially important if you need to add on extra square footage.

Compare what it would cost to move and what it would cost to remodel. Add in X-factors such as friends, schools and neighbors. When all is said and done, you may find you get more equity by staying in your home and remodeling.

Next Up

To Sell or Not to Sell

It may seem like a good idea to sell your house, but often renting is a more lucrative option. Read these tips before deciding to sell and choosing an agent.

Sell Your House or Rent It?

Is it smarter to become a landlord than pay a big, fat capital gains tax? Here are the pros and cons of renting and selling your house.

Selling a Home at Auction

Our pro shares five steps for an efficient real estate auction.

Have a Little Faith When Selling Your Home

Home sellers can order a St. Joseph Statue Home Sales Kit that they believe will help them sell their property.

Buying and Selling Homes With the Market

Learn how to be a savvy seller in both buyer's and seller's markets.

Selling During the Holidays Is Not All Bad

Buyers can, and do, get serious during this busy time of year.

Selling Dos and Don'ts

Get out that sold sign -- these selling tips will make your property a hot commodity.

How Soon Can I Sell My Home?

Is flipping your house a good idea? Here's what you need to know.

City Hall vs. You: Appealing Your Property Tax

Think your real estate tax is unfair? Do something about it.

Is Seller Financing the Right Choice for Me?

Are you a home seller who wants to offer financing to a qualified buyer? See how one of real estate expert Tara-Nicholle Nelson's clients did just that.

Shop This Look

Found a living space you love in HGTV's Photo Library? Get the look in your own home with products from Wayfair.

Follow Us Everywhere

Join the party! Don't miss HGTV in your favorite social media feeds.