When you or your family needs more space in your home, it may warrant a move to a larger home or the creation of more space with a home addition. There are pros and cons to each option, but ultimately the decision comes down to what is right for your family.

Pros and Cons of an Addition

When you have the space on your property for a home addition, expansion may be an excellent option for you especially in the current seller’s market today. There are three main benefits of a home addition:

  • You are guaranteed to stay in your neighborhood.
  • There are no moving costs.
  • You create exactly the space you need.

However, most homeowners know that any sort of addition can be expensive, time consuming, and will likely interrupt your day-to-day living. Your HOA may have rules about the size and type of addition you are able to build. There also may be zoning codes and restrictions related to allowances for an addition. You may have to temporarily move out of your home so contractors can perform demolition and reconstruction. If these considerations are of concern to you, then you may choose to move to another home instead of moving forward with an addition.

Pros and Cons of a Move

If you feel that you have fallen out of love with your current home, it may feel as though the decision to move is an easy choice. However, if your main concern is space there may be much more to consider. The search for the right house can take time, especially if you want to stay in your neighborhood. You also need to consider the costs associated with moving. Although home values have recently trended upward, a new home will likely cost more than your current home if you want more space. In addition to the added expense of the new home, you will need to pay a moving company or rent a moving truck. You may also need to repaint or perform other minor fixes to your existing home before listing it for sale.

To Move or Renovate

As you can see, there are many things to consider as you address your need for more space in your home. If you’re on the fence about the best option for you and your family, talk to your Realtor®. He or she can help you weigh the benefits of each to decide which option will fit best your needs. If you don’t have a Realtor®, call Jason Duraj at (813) 992-7771. He and his team at Future Home Realty can help you with all aspects of buying and selling.