Should You Invest, or Start Fresh?

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Should You Invest, or Start Fresh?

Homes provide us with a place of comfort, but what happens when our home isn't quite the right fit for our unique circumstances any longer?

Are you strongly attached to the sentimental value of your home?

No sentimental attachment

I really enjoy the memories in this house, but that wouldn’t prevent me from moving entirely

Highly attached to the memories made in this home

Are you strongly tied to your neighborhood?

I have no ties to my neighborhood

My neighbors and I watch out for each other, but my ties wouldn’t prevent me from moving to a new neighborhood entirely

I know all of my neighbors, I live close to everything I love, and enjoy the area I live in

Are you strongly connected within your community?

I have no connection to my community

I attend events and no some of the people in my town, but this wouldn’t prevent me from moving to a different town entirely

I love the town I live in, I could never leave

Does your home have 'good bones'?

My home has major structural challenges

My home has some quirks and some larger system updates I’ve had to do, but the foundation is strong and my basement stays dry.

My home rarely requires any work beyond routine and standard maintenance and upkeep of a home

Do you envision yourself retiring in your current home?

No, I have other plans for retirement that do not include my current home

With some modifications I could be comfortable and safe living in my current home well into retirement.

Yes, I do not intend to ever leave this home.

Is multigenerational living something that could work for your family? (i.e. parents move into a child's home, or adult child with family return to parents home)

No my family would not do well with multiple generations under one roof

My family enjoys each others company, but there is not total agreement that living under one roof is a good idea

Yes, our family could do well in close proximity to each other to help with caregiving young children and aging parents.

Does your property abut wetlands, shoreland, or preservation land?

Alexandre Chassignon via Flickr.

Yes, we are abutting a sensitive landscape

No, we have no sensitive landscapes in proximity to our property

Does your structure (home and/or garage) sit 30 or less feet to its neighbors?

Yes, we have neighbors very close on both sides of our home and/or garage.

We have neighbors very close on one side of our home and/or garage, but the other side has a lot of space

No, we have plenty of space between our home and any neighbors.

Is your property 2 or more acres?

www.indeavanmerllin.com

No, my property is actually less than an acre.

My property is between 1-2 acres

Yes, my property is 2 acre or more.

Have you completed a major remodeling project in this home or a previous home?

No, I've only made minor updates or updates that I've completed myself

I have worked with a contractor to have a sizable project completed, i.e. full kitchen remodel, dormer, etc.

Yes, I have worked with contractors previously to make major updates of $75,000 or more in this home or a previous home.

INVEST!

Your home has great bones, you're happy where you're living, and your property is sitting in a place that won't prevent you from expanding. Investing in a remodel project could help you fall back in love with your home, the next steps are learning more about the feasibility of your unique project.

Should you stay or should you go - more information is needed

You're still unclear about the best path forward. There is a chance that some of the work needed on your home will help you fall back in love, but there are a lot of great communities and homes out there.

How to choose?

It's time to make a pros and cons list about staying in your current home.

Your outlook says: a new home is in the future

You're not tied down by your neighborhood or community, your house is not the right fit anymore and you could buy a new home more easily than living through a renovation project. It's time to learn more about prepping your home for sale