Retirement Guide: Is it Better to Renovate or Relocate? – MaybeMoney

Retirement Guide: Is it Better to Renovate or Relocate?

Retirement Guide: Is it Better to Renovate or Relocate?

As we get older, we might encounter difficulties in accomplishing certain tasks due to physical restrictions. Consequently, our homes may not fully cater to our needs anymore. Should we opt for a renovation or consider moving instead?
How can one make this decision? Here are various reasons that might influence your choice.

Why might you opt for remodeling?
1. You have a liking for your current neighborhood. Your family, friends, shopping centers, doctor’s clinics, and place of worship might be conveniently nearby.
2. You struggle to find a house within your budget in your preferred location.
3. You are unable to find a house with the desired features you are looking for.
4. It might be a more cost-effective solution compared to selling your home.

Why might you consider moving?
1. The process of moving could potentially be faster and less complicated than a full-scale remodeling project.
2. You want to avoid the inconvenience and disorder that typically accompanies a home renovation.
3. Purchasing a new, accessible home can sometimes be more economical than executing a major remodel.
4. Your current house has become too spacious for your needs.

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