So the odyssey begins. The house is a 1700 square foot ranch built in 1957 that has had updates in the past 20 years.  It is in good condition it is not large enough for our growing family – and frankly we would like a nicer home.  Maybe something that is about 2,200 square feet with a few creature comforts.  The current kitchen is nice, but not great. The 4 bedrooms and 2 bathrooms are likewise OK, but nothing fancy.
So here are my first questions..
  1. is it better to remodel add on to this house or move to a different home
  2. what are the remodeling options – can our house be remodeled to meet our needs
  3. is it OK to remodel with the city?
  4. How much will the house appreciate?  And if so how much?

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In regards to question #1..is it better to remodel or to move. The www.remodelormove.com remodel or move cost calculator gave the following results.
General Analysis
After careful review of your vireo ave project, where you will manage project yourself, do about half of the work yourself and use average cost materials, the calculator recommends that:

your “gut feeling” shows a preference for moving but it costs more to move than to remodel. It is best if you can have your “gut feeling” agree with the lower cost option. To receive a clear remodel or move recommendation, consider if you could sell your current home for more or if you could buy your new home for less. Also check you answers in the “gut feeling” section and make sure you still agree with them.

Be sure to review your options with local real estate and remodeling experts before making your final decision..


Cost Analysis
The calculator estimates the remodeling cost is between $236,553 and $373,505 with a payback of $99,766. Payback is the estimated amount your home will appreciate due to the improvements you are planning. You can get this remodeling estimate confirmed by a contractor that works in your neighborhood. Just click here and we will match you to a prescreened local contractor.

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To compare the cost of remodeling and moving it is important to compare the costs of financing for both remodeling and moving. Even if you are planning to pay cash for your remodel it is important to make this financial comparison. The total net remodeling cost including financing is $222,503. You can save big on your remodeling by paying the smart way.
The calculator estimates the cost to sell your house and move is $65,792. The estimated cost to finance the difference between your old and new house is $252,000 so the total net moving cost including financing is $317,792.
So I guess we need to seriously considering remodeling!