Renovating your home could be just the thing you need to make it truly yours. But be careful: This decision could lead you down a never-ending (and stealthily expensive) home improvement rabbit hole. Once you’ve turned your kitchen from drab to fab, for example, your family room now seems out of place, the living room looks dated, and so on. In many cases, tearing down an old home is more affordable than a top-to-bottom remodel, with or without an addition. But not always. It really depends on the home, your location, and your situation. Here are five factors to consider when weighing your options, plus advice on how to make this costly financial decision.
So, whether to renovate or teardown and rebuild really comes down to a case-by-case decision. Call in the proper professionals for quotes to help you decide. Renovation experts, builders, structural engineers, and architects can all help you make this decision based on what you want to do, the type of home you have, its condition, and your local zoning rules.