Renovate or Buy and Renovate – How to Decide

Do you find yourself debating whether to update your current home or purchase something new to remodel? If so, a BOWA Purchase Consultation and detailed remodeling analysis should be part of your process. This no-cost consultation with our team of remodeling experts is a great way to evaluate your options in both scenarios so you can make an educated decision. Our goal is to help with the information you need to move forward with confidence.

Stay & Remodel or Buy & Remodel

We often find ourselves helping house hunters decide whether to stay in their existing home and remodel or buy something new and remodel. The answer isn’t always black and white and often requires a thorough review of the pros, cons, and costs (obvious and hidden) associated with both options. 

The review usually starts with, “Why?” What’s not working in your current home that has you considering a change? While remodeling can address many challenges, it obviously can’t help with things like wanting more property or reducing a commute. Your decision may also factor in costs for deferred maintenance required before moving, social and emotional ties, the scope of the changes you want to make, a discussion on “overinvesting”, and more.  Our experts can partner with your realtor to help guide you through this complicated decision-making process.

The Power of a Purchase Consultation

The decision process often involves exploring what is available on the market with the help of your realtor and a seasoned remodeling expert. If prospective buyers are considering a remodel after purchase, most find it helpful to clearly understand costs and feasibility before making an offer. Our experts are happy to visit the property with you and your realtor to offer guidance. While industry research can provide rough ballpark estimates for minimal projects like pull-and-replace kitchens or baths, it is best to consult a local professional to get costs specific to your market and confirm no extenuating circumstances exist.

When more complicated projects are considered, such as reconfiguring spaces, addressing repairs, updating systems, or adding on, we advise all buyers to seek input from a local remodeling expert in advance. A trusted advisor should be able to help you determine what is possible and provide reliable cost estimates so you can factor this into your buying decision.

In some scenarios prospective buyers can use the information garnered through the purchase consultation to negotiate with the seller. This is particularly helpful when significant repairs or deferred maintenance must be completed.

The Important Stuff First

Whether you stay and remodel or buy and remodel, we understand that a home renovation can be a significant investment of time and money. If needed, we can talk through your priorities and develop a phased renovation plan that addresses the most important items first. With an understanding of the big picture, we can likely find efficiencies for future phases to avoid or minimize rework and save costs.

If you’re renovating a new purchase, we can help you decide which renovations should be made before you move into the home due to priority, the level of disruption, or construction efficiency, and which ones can wait until after. And, we can usually get a jump start on the planning process before you close on the home.

If you’re trying to decide whether to renovate or buy and renovate, we would welcome the opportunity to help you with a Purchase Consultation and thorough remodeling analysis. With reliable information, you can feel confident that you’re making the right decision to improve your family’s life at home.