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January 28, 2025

Remodeling vs Moving

If you are thinking about a remodel, you will most likely ask yourself: Would it be easier if I just bought another house? The question is very complicated and depends on the size of the renovation project and your tolerance for inconvenience. Here is a breakdown of the costs associated with each:

Moving

Remodeling Costs: Remodeling can get pricey, depending on how big the project is. Major renovations like kitchens or bathrooms can easily set you back tens of thousands of dollars. But the upside? You get to make your home exactly how you want it without having to deal with moving expenses like realtor fees, closing costs, or hiring movers.

Moving Costs: Moving isn’t just about buying a new house. You’ll have to consider the costs of real estate commissions, which run between 5% and 6% of the sales price. So, if you sell your home for $500,000, realtor fees will be between $25,000 and $30,000.

Closing costs are typically based on the loan amount for your new home. They can be negotiated with your sellers but typically run between 2% and 6%. So, if you buy a $500,000 home with 20% down ($125,000), you can expect between $7,500 and $22,000 (see Figure 1 for an example of closing costs on a $375,000 loan).

Paying movers can apply to major renovations and is based on the size of your home, the number of items moved, the distance traveled. For a 4-5 bedroom, 2,500-square-foot house, a local move can range between $1,900 to $3,000 (link). Local movers usually charge by the hour and the rate can vary.

Costs are generally higher for long-distance moves (over 100 miles) due to factors like distance and weight of the shipment. For a 4-5 bedroom house, long-distance moving costs can range from $6,378 to $10,002 for distances around 1,000 miles. But if you are deciding between moving and remodeling, you are most likely not moving long distance.

For move and any repairs or touch-ups your current home needs to get ready for sale. Depending on the age and condition of the home, most homes need interior painting which can range from $6000-$9000 for a 2,500-square-foot home (link). Minor landscaping such as seeding, weeding, planting, and general clean-up can cost between $300 – $800 based on the size of the yard. The cost to repair drywall holes is a common minor repair. With costs ranging from $50 to $400 per patch, depending on the size and location of the damage.

Deep cleaning is a necessity when selling your house. The general cost of deep cleaning a 2,500-square-foot house is $450 – $500.

Realtors and agents highly recommend staging your home for maximum value while shortening the time on the market. It’s estimated that staging your home can add 1% – 5% to the overall value. The cost typically ranges from $1,500 to $4,000 for the first month if using some furniture rental1. If the home is vacant and requires full furniture rental, costs can be higher, ranging from $3,000 to $6,000 or more.

Remodeling

Remodeling can get pricey, depending on the size of the project. Major renovations like kitchens or bathrooms can easily set you back tens of thousands of dollars, or if you’re doing a total “gut” renovation, the cost can be similar to buying a home. But the upside? You can usually get what you and avoid some of the fees associated with moving.

The most common renovations are kitchens and bathrooms. The average cost of a complete kitchen renovation can vary widely depending on several factors, including the size of the kitchen, the quality of materials chosen, and the scope of the project. Here are some general estimates based on different sources:

Minor Remodel: A minor kitchen remodel, which might include updating appliances, painting, and replacing countertops or flooring, typically costs between $10,000 and $30,000 (Link).
Midrange Remodel: The cost of a more extensive renovation that includes new cabinets, high-quality appliances, and durable countertops and flooring can range from $25,000 to $65,000.
Major/Complete Remodel: A complete kitchen renovation involving a total overhaul with custom cabinetry, high-end appliances, and luxury materials can cost between $65,000 and $130,000 or more

The average cost of a complete bathroom renovation can vary significantly depending on the size of the bathroom, the quality of materials chosen, and the extent of the renovation. Here are some general estimates based on recent data:

Typical Cost Range: The cost for a bathroom remodel typically ranges from $6,622 to $17,604, with a national average of around $11,365.
High-End Renovations: For more extensive renovations involving high-end materials or significant layout changes, costs can rise substantially, reaching up to $30,000 or even higher.

Financing a Remodel

There are different ways to refinance a remodel. Unfortunately, most of them have closing costs associated with them at the same rate as getting a loan for a new home. So, the best way to finance without fees is to use your savings or if you do the math, using a credit card my be a better option.

The Inconvenience Factor and Cost

The time frame for large renovations can be anywhere between 4 – 12 months depending on the size of the project. If you can’t live in the house during the renovation. The expenses can add up. In the Pittsburgh area, the average monthly rent for a 2 bedroom, 2 bathroom apartment is $1800, and for a house is $2300. These numbers vary by neighborhood. So, if you have a six-month lease, the added cost could be $10,000 – $14,000

2. Emotional Attachment to Your Home

If you’ve been in your home for a while, it probably holds a lot of memories—your kids’ first steps, family gatherings, friendly neighbors, and just the comfort of knowing the area. If moving feels like a tough choice emotionally, remodeling lets you stay where you’re happiest while upgrading your space to meet your current needs.

3. Location, Location, Location

Love your neighborhood? Good schools, an easy commute to work, or being close to your favorite amenities can make staying put a smart choice. If you’re happy with the location, remodeling might be the best way to stay while making your home more functional. But if you’re tired of the area or feel like it’s missing things you want, then maybe it’s time to think about moving.

4. Do You Need More Space?

Feeling cramped? Lack of space is one of the biggest reasons people think about moving. Remodeling could fix this if your home has room to expand—like adding a second story or finishing the basement. But if there’s no room to grow (or zoning laws restrict you), finding a larger home might be a better solution.

5. Long-Term Plans

How long are you planning to stay in your current home? If you see yourself sticking around for several more years, it could be worth investing in a remodel to make the space more comfortable and valuable. But if a move is on the horizon in the next couple of years, it might not be worth spending big bucks on renovations that you won’t get to enjoy for long.

6. The Current Real Estate Market

The real estate market can play a huge role in your decision. If it’s a seller’s market, you might be able to sell your home for a good price and upgrade to something that better fits your needs. But if home prices are sky-high and there’s not much to choose from, remodeling could be the smarter move—at least until the market calms down.

7. The Disruption Factor

Let’s face it, remodeling can turn your life upside down. Depending on the project, you might be living in a construction zone for months or even have to move out temporarily. Then again, moving is a huge disruption, too. Between packing, finding a new place, and settling in, it can be just as stressful. Either way, both options come with their own headaches, so you’ll need to decide which one you can tolerate more.

8. Return on Investment (ROI)

It’s always smart to think about ROI. Some renovations, like a kitchen or bathroom remodel, can add serious value to your home. But will you get that investment back when you sell? On the flip side, moving to a pricier home could increase your equity over time—assuming home values continue to rise.

9. The Condition of Your Home

Is your home in need of more than just a facelift? If major repairs like a new roof, foundation work, or electrical updates are looming, selling might be the better option. The costs of those repairs can add up quickly, and you might decide it’s worth putting that money toward a newer, move-in-ready home instead.

10. Your Family and Lifestyle

As your family’s needs change—whether it’s kids growing up, elderly parents moving in, or shifts like working from home—it’s important to make sure your home keeps up. Remodeling can help by reconfiguring spaces or adding rooms, but sometimes moving to a home that’s already a better fit is just easier.

At the end of the day, there’s no one-size-fits-all answer. Weighing these factors will help you decide if you’re better off investing in a remodel or packing up for a new adventure.

https://www.unlock.com/blog/home-remodel/renovate-or-move-homeowners-big-dilemma/

https://www.moving.com/movers/moving-cost-calculator.asp

https://www.sandpiperlistings.com/blog/10-common-costs-to-expect-when-selling-your-home

https://homeguide.com/costs/cost-to-paint-interior-of-house

https://homeguide.com/costs/drywall-repair-cost

https://www.taskbird.com/blog/residential-cleaning/how-much-to-charge-for-house-cleaning

https://www.sandpiperlistings.com/blog/10-common-costs-to-expect-when-selling-your-home

https://www.fixr.com/costs/home-staging

https://www.bankrate.com/real-estate/how-much-does-home-staging-cost/

https://homeguide.com/costs/home-renovation-costs

https://www.angi.com/articles/how-much-should-kitchen-remodel-cost.htm

https://www.bankrate.com/homeownership/how-much-does-a-bathroom-remodel-cost/