Wednesday, May 7, 2014

Should You Sell or Renovate Your Home? {Our Decision}

This has been the topic of discussion more times than I can count in our home.  Have you had it, too? The whole idea of staying in one home and truly investing in it and making it our own versus starting new elsewhere can be seriously stressful to decided. And, I feel like we've lived in limbo for years wondering what to do.

We've recently made the ultimate decision to stay and renovate our 70+ year old, 1,800 square foot home in a city. Here's why...
Of course money would have to be at the top of the list! We were super young when we bought our home and have refinanced a couple of times along the way.  Our monthly payment is low, even with including a home equity loan to cover the costs of a reno. Selling this home and buying something in a more suburban town would seriously set us back financially.
We actually love our neighborhood and our neighbors. Our area is mostly residential, lined with sidewalks and people are always out walking. Plus, we are close to stores and the library. That is a huge plus, especially for me. I grew up in the country and it was always like a 45 minute drive to get places. I've experienced that and I'm totally done with it.
I bet you're wondering about this one. If you know me in real life, than you know my view on the local school system and it is not a good one. So, I have two children, I despise the school system, and we aren't moving? Completely. First of all, there is no guarantee that we would be thrilled with the schools if we moved elsewhere. Both my boys have been homeschooled for years (after a disastrous start in public schools) and this is our unconventional norm. Maybe we will consider a charter or private school once the boys approach high school, but having the ability to homeschool works for our family dynamic and the boys' learning styles.
So, where do we go from here? We are going to keep plugging away at our home. I've done tons of cosmetic changes; painting and decorating. Now, it's time to dig deeper. In a few weeks our bathroom will be completely gutted and  done over. It's in sad, sad shape right now. I will share tons of before pictures and progress pics along the way. For now, here is my inspiration board...
Following the bathroom, will be the kitchen. I painted our cabinets last year to refresh everything, but the reality is that they are in, structurally, horrible condition. The drawers are breaking left and right and are being temporarily held together with duct tape. It's so not pretty. I'm thinking something like this for the space (although I haven't made any definitive plans yet).
Have you ever been in the position to have to make this decision? Please share you experience with me!