Renovating vs Moving: Which Choice Saves More Money?

When your home no longer fits your needs, the choice between renovating or moving can be difficult. Renovating allows you to stay in a familiar neighborhood while customizing your home, often at a lower cost than purchasing a new property. However, major renovations can be disruptive and may not address limitations like lot size or location. Moving offers a fresh start but includes significant expenses: realtor fees, moving costs, and potentially higher mortgage payments. Financially, renovation often saves money if your current home has good bones and location value. The decision ultimately depends on your budget, lifestyle, and long-term goals. Carefully weigh both options before making the leap.

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