Your personal needs, preferences and finances are all factors. If you’ve lived in your home awhile and prefer to stay in your school district or neighborhood, improving your existing space may work best for you. If a second bathroom is what you desire, it may also be cheaper to convert existing space than to relocate to another home. According to the American Homeowner Foundation, you can expect to spend 8-10% of your current home’s value when you move. Ask yourself if that money could be better spent on a remodeling project instead. Chances are you’d increase your home’s value, derive more pleasure from your home than you did previously, and save yourself the time, expense and headache of a move.
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