When it’s time to make a change in your home, one big question often comes up: Should you move to a new place or renovate the one you already have? There’s no one-size-fits-all answer—your decision depends on your family’s needs, lifestyle, budget, and the condition of your current home.

Maybe you’re running out of space as your family grows, or your home just feels outdated. Either way, it might be time for a change. But is it smarter to start fresh somewhere new, or can you transform your current home to meet your evolving needs?

This decision comes down to both financial and emotional factors. Here’s a look at what to consider before making the move—or the remodel.  Consult with an experienced home remodelling contractor in Niagara for expert advice tailored to your situation.

Evaluating the Costs

One of the biggest factors in your decision will be cost. Whether you’re thinking about buying a new home or investing in a remodel, it’s important to understand what each option will cost you.

Start by identifying what you’d like to change in your current home. Are you just looking to update an old bathroom, or are there major structural or functional upgrades needed? The scale of your project can play a big role in what makes more sense financially.

If the changes are relatively minor and you love your neighborhood, renovating could be the better choice. But if your home needs a complete overhaul, moving might be the more practical (and possibly more cost-effective) route.

Research current home prices in your area and compare them to renovation estimates. This will give you a clearer picture of how each option aligns with your budget.

To help, here are some average renovation costs from Remodeling Magazine’s 2024 Cost vs. Value Report:*

• Bathroom remodel – $56,414
• Midrange kitchen remodel – $110,727
• Asphalt roof replacement – $42,473.37
• Vinyl siding replacement – $24,102

* Based on U.S. data. Prices adjusted for Canadian dollars.

Ask yourself:

• Will a remodel increase the resale value of my home?
• Will I need to refinance or use home equity to cover renovation costs?
• What impact will this have on my finances long term?
• Am I prioritizing short-term savings or long-term investment?

Factoring in Time and Convenience

Cost isn’t the only consideration—think about how much time and effort each option requires.

Major renovations can be disruptive. A full kitchen remodel might leave you without a usable kitchen for weeks or even months. Even smaller upgrades, like a bathroom update, can throw off your daily routine.

Moving, on the other hand, comes with its own stress. Packing, organizing, selling your current home, and settling into a new one is no small feat. If the idea of relocating sounds more stressful than living through a remodel, that could sway your decision.

Get Expert Advice Before You Decide

Still on the fence? Speaking with a local home remodelling expert can help you weigh your options. They can walk you through potential renovation plans, provide cost estimates, and help you figure out what’s truly best for your situation.

If you’re in the Niagara region, contact our team at 905-935-7464 to book a consultation and receive a personalized quote. Whether you decide to remodel or move, we’re here to help you make a confident, informed decision for your family’s future.