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Instead of remodel bathroom - did you consider moving?

12 years ago

I'm asking because I'm trying to figure out what is the right choice for us.

We are contemplating a second floor remodel that would include taking 1 tiny bathroom & making it 2 small bathrooms (1 for kid bedrooms & 1 for master).

I've posted about it on the remodeling forum b/c our choice is remodel or move. The advice there is that moving makes more sense & there's a lot of doubt expressed about the prices I have for the work. Everyone seems to think it should cost $100k to $150k to add a dormer & porch to our Cape. We've contacted 4 (reputable, licensed) contractors and have estimates that are $72k to $87k for the work. And we've stipulated a lot of details in the bids - like spray foam insulation & cast iron tubs & copper supply lines.

If we moved, we'd be looking to buy a house that is $150k to $200k more than the house we have today. So remodeling is cheaper, and we don't have the expense of moving (6% sales commission plus new mortgage costs, etc). But we probably won't get a return on our investment (we do NOT plan to move if we do this, I really like the rest of the house).

I was just wondering - did anyone here go through the same decision? How did you decide which way to go?

I really want to do the smart thing for us financially AND in terms of mental health. The housing inventory in our area is low and most of it is the same age as our house (1960 - 1970). And a lot of it doesn't have much curb appeal or is in a tough location (next to wetlands, so you can't put up a fence for the dog; or close to the highway).

Here's what we are planning to do - the link below has pics of the front of a house that we're going to pretty much copy. The back of our house already has the large dormer, so we're changing the front roofline & keeping the back the same. And we're doing the porch as well. We can pay cash for the remodel, buying a different house would involve a larger mortgage with higher payments than we have today.

Thanks in advance for any advice - the other forum has a smaller pool of participants and I could use a fresh perspective.

Here is a link that might be useful: Inspiration Pictures - Click images to enlarge

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