Comparing the cost of moving to the cost of remodeling is a matter of calculating all of the costs associated with each of your options. The challenge is in accounting for all of the costs of each of your options.

Many homeowners fail to include the cost of decorating a new space, whether it is a new home or a remodeled room. You will also need to calculate increases in such costs, such as homeowner’s insurance, real estate taxes, taxes on other property you own (cars, boats, etc).

Moving might incur other costs, such as changing your address, getting a new driver’s license or other permits, different electrical rates, larger heating/cooling bills, added costs for various services like trash collection, internet services, security, etc.