Should you move or improve? That is the million dollar question.

When your family is growing, or you begin questioning whether or not those little quirks in your home are still charming, you may start to wonder whether you should move to a larger home or simply invest in renovating it.

Your home no longer fits your needs, and you can’t go on denying this fact any longer. Regardless of what these needs are, a decision needs to be made – one that is worth a ton of money.

Here is some sound advice to help you decide what route is best for you.

Find Out if You’re Legally Able to Expand

First of all, you need to make sure you’re even legally able to expand your home. Find out if the community you live in allows additions, and what the limits are on how large a house can be relative to the size of the land it sits on. If your home is already as big as it can legally be, an addition is essentially off the table.

Instead, you’ll need to work within the footprint you’ve already got, or you’ll have to relocate.

Will an Addition Make Financial Sense?

If you find out that you are legally able to expand your home, your next task is to determine whether or not such a decision is a good financial move.

Get yourself a cost estimate to find out what the price tag will be like to make the changes to your home that you have in mind. Once you’ve got that number, figure how much the addition would add to the value of your home. Then compare this new value with comparable prices of similar homes in your neighborhood. It may just be that you won’t get a decent return on your investment.

While having a larger home would certainly accommodate your needs, you don’t want to expand to the point where your home is basically the elephant on the block. You don’t want to have a home that’s twice the size of all the other homes on the street – the value simply won’t be there.

You need to strategically decide if your investment will still be worth that much a few years down the road. For instance, you don’t want to put $250,000 into your home when it won’t even be worth $200,000 in five years.

Neighborhoods can only support so much cost for a specific home. If home buyers have $400,000 to spend on a house, they’ll most likely look to an area that is made up predominantly of other $400,000 homes, instead of $250,000 homes.

Just make sure that you are bringing your home up to – or only slightly above – the standards in your area. If that’s the case, renovating just might be a great idea from a financial point of view. But if your home is already the biggest, nicest home on the block, expanding it even more probably won’t result in any payback on resale.

Make Sure the Renovation Will Boost Your Home’s Value

Whatever remodeling job you decide to pour your money into, make sure it will add value to your property. This can help offset the expense of the job you plan on taking on. Speak with a seasoned real estate agent who is experienced in buying and selling in your particular neighborhood. He or she will be able to give you pointers about what upgrades hold the most value in the are, and which ones don’t.

For instance, if most of the houses in the area are 3-bedroom homes, and yours only has 2, it would probably make sense to add that extra bedroom to bump up the value of your property. On the other hand, if the majority of the homes on the block are ranch-style bungalows, and you decide to add a second to your home, you might not be able to recoup that investment money come sale time. It simply depends on what buyers in your specific neighborhood hold value to.

Some renovation jobs bring back a sizable return on every dollar spent, while others don’t. Do the math on your particular renovation job to determine if the return on investment is a healthy one.

This is a matter of land value versus structure value. It’s the land that appreciates the most – the house not so much.

When Moving Makes More Sense

There are a ton of things you can do to your home to improve or upgrade it. But there are certain things that cannot be changed – namely, the location. Analyze the size of your land, the schools in the area, the greenery, and other factors – these are things that can’t be altered. If you can’t live with these factors, then moving probably makes the most sense.

Not being a fan of your neighborhood isn’t the only thing that might prompt you to start house hunting, either. Maybe your home was built decades ago when lead paint and asbestos were the norm in home construction. These are things you definitely don’t want to touch, especially when renovating.

And while moving might not necessarily be easier than renovating, it’s definitely a lot faster. It’s simply a matter of what would make the most financial sense for you, what would ultimately cause the least amount of stress, and what would provide you with exactly what you’re looking for.

A house, while still an investment, is really all about lifestyle first and foremost. The decision to move versus renovate is comes down to this: will your existing home – after renovated – make you and your family happy? If not, and you can afford something different, then moving might be the right decision.

Just make sure this decision is not made without the help of professionals, like a contractor, financial advisor, and real estate agent.

When it comes time to sell your home, take a close look around and see if your place has the goods that buyers are looking for. Considering the magnitude and expense of such a purchase, buyers want to fall in love with the home they plan to buy, and certain characteristics can help make that happen.

It might be worth your while to add or upgrade features in your home to help attract more buyers, and thereby draw in more offers.

Here are 6 features in a home that buyers look for before making an offer.

Open Concept Layout

Newer homes offer spacious floorplans and soaring ceilings that older homes simply don’t have. Homeowners love to be able to entertain guests and converse with them no matter where they happen to be, and parents love the idea of being able to see their kids from every angle of the living space. An open concept layout is a must-have for situations like these.

Eat-In Kitchen

Just about every buyer expects to see an eat-in kitchen when they’re searching for a new home, especially if they’ve got kids. The kitchen is the hub of the home and is much more than just a space to prepare meals. If your kitchen doesn’t currently have the space for a table and chairs, you might be able to create this space by removing a wall rather inexpensively, as long as there is no additional repair work that has to be done.

Garage Storage Space

Storage is often a huge issue for homebuyers, especially those with growing families. Of course, smart indoor storage options are critical, which include walk-in closets and oversized linen closets. However, added garage storage space is a bonus, especially when it comes to storing larger items, such as Christmas trees, lawn furniture, and large tools. This added space helps to cut down on the clutter inside the home and is just a few feet away for easy access.

Spacious Laundry Room

Homebuyers want a laundry room that’s not just conveniently located, they also want it to be spacious enough that they can do all the pre-washing, folding, and ironing all in one space. Having a space like this can help keep the mess out of your bedroom or living space, and prospective buyers will see that as a major advantage.

If you don’t currently have an existing laundry room, you don’t necessarily have to create an addition to get one. The basement is typically the easiest place to put one and can cost as little as $1,000 to create.

Hardwood Floors

Hardwood flooring offers a more modern, clean look compared to other flooring options. It’s durable, easy to maintain, and doesn’t induce allergies like carpeting can. Good quality hardwood can last a lifetime and can be easily refinished every so often to achieve a new look. Buyers have come to expect hardwood in the homes they plan to purchase, so if your home currently has dated flooring, you might want to consider installing hardwood. The cost to install 120 square feet of hardwood is approximately $1,400, which you can easily recoup come sale time.

Energy Efficiencies

Homebuyers are much more environmentally conscious these days, and anything that they can do to contribute to the health and protection of the planet is a welcomed idea. One of the most effective ways to minimize their carbon footprint on the earth is having a home that operates much more efficiently. In particular, energy efficient appliances and windows can help to significantly reduce wasted energy, and even slash utility bills. The combination of saving the planet saving money is something that just about every buyer finds extremely attractive.

When you’re thinking about selling your home, it’s helpful to understand exactly what buyers are looking for. If your home is currently not equipped with any of these highly coveted features, you might want to consider making a few upgrades to your home before listing it for sale. Done right, they could increase the value of your property and allow you to command more money when you sell. Just make sure you seek out the advice from an experienced real estate agent to make sure the changes you plan on making will bring you the return on investment you’re looking for.

It costs a lot of money to maintain a home, but you might be spending more than is necessary. Your utility bills can be lowered significantly by reducing the amount of energy used in your home, and doing so may be much simpler than you believe. Small adjustments here and there can add up to big savings.

Here are some easy ways you can save energy in your home that are good for the environment, and your wallet.

Replace incandescent lights

Conventional incandescent lightbulbs only convert about 10% of the energy used into light; the rest is lost in heat. Swapping these lights with more innovative LEDs can significantly cut back on energy that’s not being used for lighting purposes. Not only do LEDs use 75% less energy than incandescent bulbs, they also last about 10 times longer.

Skip the dishwasher

The amount of energy dishwashers use to heat the water and dry the dishes is significant. If you can stand it, consider washing the dishes by hand. At the very least, switch off the automatic air-dry after the final rinse and open the door open slightly to help the dishes dry faster.

Turn off electronics when not in use

All of your home’s TVs, computers, and other electronics are wasting energy when they’re left on and not being used. Plug your devices into a smart power strip that uses a lot less energy when they’re in standby mode.

Turn the temperature of your water heater down.

If you’d prefer to keep your current water heater, consider turning its temperature down to about 120°F. In addition, turn it down even lower when you’re away for a few days

Maintain your HVAC system

Your heating and air conditioning systems should be maintained at least once a year to make sure they’re working optimally and not using up more energy than necessary to operate. About 50% of the energy used in a home comes directly from these HVAC systems, so the more efficiently they function, the less energy will be wasted.

Insulate your windows and doors

Windows and doors that allow air leakage account for as much as one-third of energy loss in a home. Seal all these leaks with some caulking, and weatherstrip your windows and doors to prevent even further air loss.

Use less water and heat with your laundry

Little changes that are made when doing the laundry can save a great deal of energy. Don’t do the laundry until you’ve got a full load, and wash each load in cold water to cut back on energy used to heat the water. Once the laundry is done, hang the clothes up to air dry rather than using the dryer.

Homeowners who are trying to cut costs frequently attempt to handle their home renovation projects on their own. While that might work just fine for simpler tasks, it might go horribly wrong for more challenging ones. DIYers need to be skilled with these tasks as well as knowledgeable about construction codes.

In addition to potentially costing you more in the long run, breaking these codes could put your family in danger. Here are a few of the most frequent code infractions committed by DIY house renovators.

Not Getting a Building Permit

One of the biggest and most common mistakes homeowners make when renovating their homes is failure to apply for a permit. Why? Well, they cost money, and they require a trip to city hall. Many homeowners simply want to bypass these little annoyances. They think, who’s going to know?

Sure, there’s a good chance that no one will find out that you worked without a permit. However, if you ever sell in the future, you’ll probably be asked if you got one when you remodeled. If not, it could affect the salability of your home.

You might be asked to fix any issues (that will cost you extra cash) before buyers are willing to put in an offer on your home. And if the buyers finds out about the lack of permit after they move into your home without being notified up front, you could be slapped with a lawsuit.

Besides that, a permit is important because it’ll help ensure that any improvements you make on your home are safe. Permits also help you remain compliant with the most up-to-date regulations like energy-saving measures.

Do yourself a favor and check with your local building authority to find out if a permit is needed for the job you plan on doing in your home.

Not Venting Bathroom Fans to the Outside

If you’re planning on renovating your bathroom – or adding a new one – adding a vent fan is a must, considering all the moisture that can quickly and easily build up in these small spaces. Although, a lot of homeowners fall short by venting directly into the attic, and stopping there.

If you don’t vent the fan all the way to the outside of the home, all you’re doing is transferring the moisture from your bathroom into the attic, causing rot and mold to develop. To avoid this ugly scenario, you’ll need to vent the air to the outdoors via a vent pipe that’s 4 inches in diameter.

Adding a Basement Apartment Without Necessary Egress Windows

Whether the in-laws are moving in, your kids want their own space, or you want to rent out the basement for extra income, revamping the basement into a self-sufficient quarters is a great idea. How you finish it, is what’s important.

Creating a basement apartment isn’t just about throwing up a couple of walls, adding a bathroom and kitchen, and finishing the flooring. There’s also the issue of egress windows that must be addressed.

According to code, any room that’s considered a bedroom needs to have an egress window that’s a minimum of 20 inches wide by 24 inches high. The opening needs to be at least 5.7 square feet so that it’s large enough to allow an adult to climb out of should a fire or other emergency occur where it’s impossible to escape from any other exit.

Not only that, but you’ll need to take steps to make sure that water isn’t able to seep into the basement through the window, which is why you’ll need a water well on the outside of the window.

Without an adequate egress window, you can’t call the room a bedroom, which could throw a wrench into your plans to market your home as one with a “separate basement apartment.”

Placing Smoke Alarms in the Wrong Places

Just about every homeowner understands how critical it is to have smoke alarms installed in the home. But did you know that there are exact spots that they need to be placed in according to code?

That’s right. You can’t just randomly plop a smoke alarm wherever you feel like. Considering their lifesaving roles, smoke alarms need to be given enough space, and should be placed far enough away from air ducts so they’re not affected by any circulating air. If not, they might not be triggered in time should a fire ensue.

Smoke alarms also need to be placed on each floor of the home; and in newer homes, they must be hard-wired with a back-up battery.

Insufficient Electrical Work

Electrical wiring that’s not installed properly can really pose a hazard. That’s why you might be better off calling in a licensed electrician to do the job for you if you haven’t got a ton of experience in this department.

One of the more common wiring mistakes is not using the correct size circuits. According to code, 15-amp circuits are needed for light fixtures, and 20-amp circuits are needed for receptacles.

Splicing wires without the presence of a junction box is another common faux pas. You can’t just splice wires together with some wire nuts and electrical tape – every wire connection needs to be inside a proper junction box, which should be visible and accessible.

The lack of ground-fault circuit interrupters (GFCI) is another no-no. GFCIs are necessary for any circuit that serves a space where there’s water, like the bathroom, kitchen and laundry room.

Code violations typically happen when homeowners are trying to save a buck. While this might be OK for smaller jobs, tasks that are much bigger and in-depth definitely need to follow proper code regulations. If not, you could wind up spending a lot more down the road to rectify the scenario if things go awry.

No matter how new your house is, window problems could arise at any time. They’ll eventually need to be entirely replaced. Windows don’t endure forever, even if they can last up to 20 years when they are of great quality and are maintained properly. Pay attention to them as they’ll show specific signs that it’s time to swap them for brand new ones.

Here are a few signs to watch out for so you can determine when a replacement is necessary.

1. Extremely High Utility Bills

Have you noticed a gradual increase in your utility bills? If nothing has changed, it’s possible that you’re losing energy from various sources, including your windows. Your HVAC system is working a lot harder than it needs to if there are window leaks that are letting too much indoor air out and vice versa. If your energy cost is significantly greater now than it was last year, it raises a concern.

2. They’re Warped or Decaying

If your windows are visibly decaying or damaged, it is one of the more obvious indications that they need to be replaced. They might only require a brief repair if the problem is quite minor. However, if the issue is more serious—for example, if there is a significant glass crack or frame bend—a replacement is usually a preferable choice. In addition to being unsightly, warped or rotting windows are likely causing energy loss, which may end up costing you much more money in the long run.

3. Outside Noise Is Not Effectively Suppressed 

Windows aren’t exactly sound proof, but they should be able to effectively drown out the majority of outdoor noise. If you’re trying to enjoy a quiet evening indoors and you can hear people’s conversations and passing cars as clear as a bell, maybe you need new windows with a more innovative and modern design. Single pane windows of yesteryear are certainly not going to be able to drown out the sounds coming from the outdoors like contemporary double pane windows would.   

4. Condensation Is Visible

Your windows may need to be replaced if they are frequently foggy and allowing condensation to build up. Thermal pumping causes double-paned windows to expand and contract continuously throughout the day. Sunlight heats up the space between the panes and causes the gas in there to heat up and expand. Pressure builds up between the two panes as a result of this. The space between the panes, on the other hand, shrinks at night as a result of the air between the panes cooling.

Over time, all of these frequent pressure changes can wear down the seal, resulting in minor fractures that allow air to enter and exit the gap between the panes. Condensation on your windows may be getting worse, which indicates that the glazing assembly needs to be replaced.

5. You Have Trouble Opening or Closing Them

Do you have to utilize every muscle in your body to just open or close your windows? If so, there is an issue. Sticking windows are not only a hassle, but you’re probably also wasting energy. Windows that don’t open or close correctly might also present a safety risk because they probably won’t be very successful at keeping scavengers out while you’re away.

6. They’re Old-Fashioned

In some cases, replacing your windows is only necessary due to a change in aesthetics rather than issues with energy loss or safety risks. If they’re outdated, swapping them out for newer, more contemporary ones can significantly transform the appearance of your house. You’ll not only make the interior appear much more upscale, but you’ll also improve the curb appeal.

The cost of replacing windows is high. Having said that, the money you can actually expect to save on electricity costs over time can help you recoup the money you first spent replacing them. The cherry on top is that you’re also reducing your carbon footprint on the globe.