You may someday find yourself wondering whether the old family home still meets your needs. You can move or remodel, but which is better?
To gain additional space, you will probably have to move into a more expensive house. You’ll pay about 7 percent of the sale price of your existing home on realtor and miscellaneous fees and 4 to 5 percent of the cost of your new home in closing costs. Plus you’ll pay the difference in price between your home and the larger new one.
The cost of the move itself will depend on the total pounds, the number of cartons packed, and the man-hours needed to take them to the new address. To get an idea of what it might cost to move your family try moving. An average cost for packing and moving a family of four with four bedrooms, a dining room, living room, attic, and patio furniture is $2473 to $3124.
The cost of moving may be worth it if it puts you in a better neighborhood with convenient parks and superior schools. But if you’re happy with your location, the same amount of money can pay for quite a bit of improvements to your current home.