Kids Room Tips - Should I buy a new house or remodel mine?

Should I buy a new house or remodel mine?

I'm getting married and need more room for our kids.

Public Comments

Depends on how much money you have. Can't answer this till you give more details.
Look at the market and your area, that will be the best determinate as to what will be the most cost effective and the best investment.
it depends. we need more details. *****
You have to make a cost/benefit analysis. You have to calculate how much money it would cost you to sell your house, and how much does a newer house costs in your area. Choose the option where the total comes out less than the other.
Your answer lies in the old saying...location, location, location...
It really all depends on how much time and money you have. Purchasing another home that could potentially be larger than the one you're in now could be faster. If you have ideas on what you'd like to do with your current home, it could be the same, more or even less than purchasing a new home but it could also take some time. If remodeling, make sure to check out the contractor thoroughly! I know from experience that there are a ton of contractors that will take you for everything you got and others will stretch out the job until eternity! I know, I did a simple remodeling (enlarged 2 rooms by 8 feet) and what should've taken 3 months (according to a neighbor who was a contractor) it took 10 months and the guy was a complete idiot! My house leaked during the rain (found this out when my bed that was against the wall ended up being soak & wet in the middle of the night). Unfortunately, this contractor was referred by one next door neighbor. I'll never do that again! Good luck with whatever you choose & congratulations on the upcoming wedding!
If it's paid for, remodel. Either way if you buy a new house now at a time when you are getting married, and have more kids and responsibilities, you will just be adding more financial responsibilities than you need all at once. You may want to take that into consideration before adding to much baggage too soon before the honeymoon. :) Good luck!
i think you should re model your home. it will be good get all the family in on it and the kids . it will be good for you's
if the house is the one in the photos I'd say remodel. I think if you do some of the stuff your self you can save some $$ . we built one and did a lot of the work our self but it took a long time. pulling electrical wire is second nature now.
If you consider remodeling, you should weigh what you already have into the house, what you'll put into the remodel, and what the house will be worth when you're done. Remodeling could be cheaper, but you could also end up with more invested in the house than you'll ever get out (bad investment). You would weigh these factors if buying, too--will the house be worth at least what I pay for it. You'll need to do a little research on the real estate market in your area. If you're going to finance the remodel, your bank will probably lend some advice, too.
If your present home is in a good location...schools and activities, shopping, work commute, and in otherwise good condition, I'd opt for the remodel. Of course, there are other considerations as well. Would it lower your mortgage payment? Are there homes for sale in a desirable area with readily available space that would benefit your financial needs? A lot of renovation projects can be done over time and with all of the classes available at the home improvement stores these days, you could save a ton of money by doing most of the work yourself. Is there unused space in your existing home that could be renovated to accomodate children and perhaps more in the future? Have you had inspectors in to advise if an addition would even be feasible? I hate moving myself. We chose the location of our home then built what we could afford, adding and altering as we could, and now the resale value of this little peice of property is phenomenal, and the quality of the workmanship is unquestionable because you take more care in quality when it's for yourself. We've had offers, but who wants to move? We finally have the home we always wanted with all the amenities, and since we worked on it as we could afford to, there's no mortgage. The best part is, we're both still young enough to enjoy it! Congratulations on your new family, and best of luck on whichever you decide to do!