Do you need to renovate or move your home?

Theresa and Doug Riggs love their home. They are among millions of Americans who have decided to renovate instead of move.

“We want to be here and feel comfortable and have a nice house,” Theresa said.

When renovating, homeowners should consider the return on their investment, according to Bankrate. It is also important to consider the potential stress of a renovation.

Kari Lindstrom, a real estate agent who helped the Riggs make their decision, said they weighed the size of the project and the equity they would get out of it.

“If they’re going to live here for a long time, they can put the money in, invest a little bit of money in it and enjoy their home a little more while they’re still here, without losing a cent.” cent,” Lindstrom said. “They will make money.”

Lindstrom warns others about certain projects that will not always provide a good return on investment.

“You can spend a fortune on new windows, right? But are you going to get a 100% return on that? Probably not. HVAC systems too,” she said.

When is it time to buy instead of renovate? Bank rate says people should consider buying if their wish list simply doesn’t match their current home, if they have an opportunity to make money from home equity, or if the home they find is everything they want.

Contacting a real estate agent can help you with the pros and cons of each option. Those who decide to renovate can contact the real estate agent for a list of reputable contractors. A good real estate agent always keeps a list of people he can call.