You’ve been living in your current home for years now, but one thing is apparent: It doesn't quite fill the bill anymore. Maybe your family has grown since you bought it or maybe those stairs are getting more difficult to climb.
Whatever reason you may have, it’s obvious that a change is in order. This is where you meet a fork in the road: Should you remodel your current home or should you move into a new-build home?
Both have their pros and cons. Remodeling will likely be the less expensive option, but a new build home gives you more freedom in the home’s design.
So, which is better? Spoiler: It really depends.
“It depends” might not be what you want to hear, but we’re here to help you make a decision.
Remodeling Your Existing Home
Remodeling your home is a great option for those who love where they live. Maybe you really like your neighbors or the schools in the area are great. Maybe it’s close to your office or perfectly situated near activities. If moving to a new neighborhood or town isn’t your ideal situation, remodeling is best. Here are some factors to consider:
The cost of remodeling your home really depends on what you want to remodel. According to Home Advisor, an entire home renovation could cost anywhere between $33,500 to $150,000. There are several factors that play a role in the price, such as location, materials, and house size.
If you’re only looking to remodel certain parts of your home, the price ranges vary as well. A new kitchen could cost $4,500 to $50,000 and a bathroom could cost between $6,000 to $35,000. Keep in mind that remodeling not only makes your home more comfortable to live in but it also increases the value of your home at resale. You can expect a 40% to 80% return on investment.
Depending on the size of your home, a whole-home remodeling project could take between 7 to 15 months. That includes time for interviewing designers/contractors, designing/planning, and prepping/construction. A full kitchen remodel could take 3 to 5 months while a basement remodel could take 4 to 6 weeks based on the scope of the project.
The design of remodeling a new home is one of the greatest drawbacks compared to purchasing a new build home. When remodeling, you’re limited to the existing structure of your home. While you could move walls or add on a structure that suits your needs, most likely you won’t be rebuilding your house entirely.
Buying a New Build Home
A new build home provides a plethora of opportunities to those looking for a fresh start or a change in lifestyle. The choice is yours in a new build housing community. You’ll get to choose the plot of land, the builder, the model, the features and so much more. If it’s time to craft a home specifically to your needs, then purchasing a new build home is the right option. Here are some factors to consider:
Depending on the square footage of the model, a new build home on average costs around $114,209 to $450,824. In 2021, the most common home size was between 2,000 and 2,500 square feet, which could cost between $200,000 to $500,000. At Brunswick Crossing, our homes range between 2,766 and 4,040 square feet. Prices range from $400,000s to $670,000s.
Building a new home could take between 6 and 12 months, according to Richmond American Homes. There are several factors that can affect the duration: permitting, workforce, weather, and supply chain.
This is one of the biggest benefits of buying a new build home. You have so many options at your fingertips. With a variety of features and models, you’ll be able to craft a home that is designed to your lifestyle. If you don’t want to climb stairs, there are ranch-style homes that conveniently keep all your rooms on one floor. If you need extra bedrooms, many models give you the option for more or less bedrooms. The flexibility allows you to create the perfect home.
If building a new home sounds like the best option for you and your family, check out all that Brunswick Crossing has to offer. With a variety of models and resort-style amenities, your dream home awaits. Take a virtual tour today and explore the plethora of opportunities right at your doorstep.