If you're short on money, a major home remodel, while expensive, will cost less than rebuilding an entire home. If your family has grown but your house isn't, you may have questions about your living arrangements. Buying an existing home is an option. But there are other options as well. A home renovation can increase the size of your home, provide better functionality and, depending on the scope, be affordable.
On the other hand, building a new home from scratch could provide you with the home of your dreams and, possibly, reduce some costs in the long run. Here are some factors to consider when making your decision. The most expensive room to remodel is the kitchen. Kitchen renovations include all the elements of remodeling any other space, plus plumbing, HVAC, additional electricity, cabinets, appliances, and additional planning. Bathrooms, while expensive, are a distant second to kitchens.
Lexie is an adjunct editor at Forbes Home and has more than 6 years of professional experience as a writer and editor in the home improvement industry. He previously worked on sites such as HomeAdvisor and Angi (formerly Angie's) List). This is especially true of older homes, where a relatively simple addition could end up becoming a major construction project to upgrade existing systems and structures. In general, expansions and renovations cost less than building new ones, but costs can increase rapidly, especially when unforeseen complications arise.
Some expansions can make it difficult to sell a home (depending on your neighborhood), and you may have local limitations, so take appropriate precautions.
