Renovate – Pros:
Stay in your current neighborhood and keep your routines.
Customize your space exactly how you want it.
Increase home value if done right.
Often less expensive than buying a new home.
Renovate – Cons:
Can be stressful and time-consuming.
Possible permits and delays.
Living through construction may disrupt your life.
Budget overruns are common.
Move – Pros:
Get a fresh start and possibly more space.
Avoid the hassle of renovation.
Opportunity to upgrade location, school district, or amenities.
Often quicker than major renovations.
Move – Cons:
High closing and moving costs.
Emotional attachment to your current home.
Risk of buyer’s regret.
Competitive housing market may limit options.