Remodeling your home is a major project and it may seem like it would be easier to move to a new home that already has the improvements you want. While this might sound like a more feasible option on paper, the reality is that you will not necessarily save any time, effort, or expenses. In fact, you may find yourself more stressed by the costs associated with purchasing a new home, packing, and moving. Remodeling will not only improve your home, whether it is outdated or in need of a more functional layout, but is a more cost-effective option. Here are three reasons to consider remodeling over moving.

1. Buying a new home may result in a higher mortgage. With the cost of houses increasing, you could find yourself paying much more than you did for your current home. If you want to move into a home which does not require remodeling from your home, which may be outdated, you will also notice a difference in what you will get versus what you will need to offer.

2. You will save on the costs involved with selling and buying a home. There are many additional fees to consider when you are moving, such as a real estate commission and closing costs. There can be moving expenses as well such as a packing and moving service or renting a moving truck. It is important to take these into consideration since they may not factor into your initial budget, but significantly add up.

3. Remodeling will add value to your home. As mentioned, if your home is in need of updates then you will not receive as much as you may prefer if you choose to sell. Remodeling, both for aesthetic and functional improvements, will add significant value both by making it your dream home and by appealing to potential buyers should you choose to sell in the future. Kitchen and bathroom remodels are particularly valuable areas on which to focus.

When you are debating whether it is time to remodel or to move, take into consideration all the costs associated with each. Get remodeling quotes from contractors so that you can make the best financial decision for your needs.