Deciding Whether to Move or Make Home Improvements as a Single Parent
Deciding whether to move to another home or renovate your current one can be difficult, especially when you’re a single mom or dad. Not only do you need to consider your own needs, but you also have to think about the needs of your children and determine what makes the most sense financially. We’ve put together a list of essential factors that can play into whether you should move or improve.
Wants, Needs, and Budget
First of all, you need to distinguish between your wants and needs. For example, if you have mobility issues and your current home cannot be modified to accommodate those issues, then you may need to look for another home. Or if your current home is too small for your family, you will have to weigh the costs of building an extension versus moving somewhere else. U.S. News points out just adding a bedroom can run from $25,000 to $50,000, so moving could be a more financially sound option.
For some homeowners, their issues are relatively minor and can be resolved through DIY remodeling and/or professional renovations. For instance, if you don’t like the color of your bedroom walls or your hardwood floors need refinishing, these are tasks you could do yourself to save money. Paint and supplies come in at around $150 per room, and you can rent equipment and purchase supplies to breathe new life into old hardwood for under $500.
Even professional renovations can save you money in the long run as compared to purchasing another home. For example, if you have cheap or outdated countertops in your kitchen and bathrooms, you could get a professional to install new ones.
When it comes to countertops, there’s a bevy of options—from granite to laminate to tile. One of the most popular types is quartz countertops, due to their attractiveness and durability. Having quartz countertops installed averages about $125 per square foot, or $3,750 for 30 square feet.
Location is paramount when it comes to your home. If you’re not crazy about your neighborhood—or worse, you hate it—then moving might be the best option. Maybe it’s not close to schools, your work, or other family members and friends.
While comfort and convenience are important factors to consider, even more important is the safety of you and your children, and where you live can have a lot to do with that. For your family’s peace of mind, Safewise notes you might want to avoid areas with a noticeable police presence, empty storefronts, and significant rental activity.
If you love the location of your current home, that should carry significant weight as well. It’s no easy task to find the perfect home in the perfect neighborhood. So if you can change your current house to meet your needs, that might be the way to go.
It’s easy to get lost in the logistics when deciding whether to find a new home or improve your current one. However, don’t discount your emotions, as they play an essential role in whether or not you’re happy in your home. After all, home is where the heart is. If the changes you want are minor and you have a lot of memories associated with your current home, you might regret leaving all of that behind and starting over in a place where you feel no personal connection.
Deciding whether to move to a different home or improve your current one is a big decision. Lay out all your wants and needs, determine how important they are, and contrast them with your budget. Also, consider whether or not you like your location, and factor in any emotional ties you might have to your home. Then, you will be better able to make a confident decision for you and your family.
Contributed by: Alex Hall, Single Parent Info