David Kent, featurerd in recent article in House Beautiful. Renovate or Relocate?

In the ever-evolving world of real estate, homeowners often face a crucial decision: should they renovate their current home or move to a new one? David Kent, renowned realtor and owner of Charleston Home, recently shared his expert insights on this topic in a House Beautiful article, offering valuable advice for those grappling with this common dilemma.

Location, Location, Location

Kent emphasizes the importance of considering your current location before making a decision. "You have to think about whether you're willing to move further away or if staying in your area is important," he advises. Factors like proximity to friends, local amenities, and school districts play a significant role in this decision.

Drawing from personal experience, Kent reveals, "I could get exactly what I wanted if I drove 15 minutes away, but the disruption to my family life was not worth it." He recently renovated his home to allow his teenage daughters to remain in their current school, highlighting the weight of community ties in such decisions.

Financial Considerations

Regarding finances, Kent points out that moving costs are often easier to calculate. "You lump the cost all into a mortgage; it's no big deal," he explains. However, renovations typically involve out-of-pocket expenses and may require creative financing solutions.

Kent cautions homeowners to consider the source of renovation funds carefully. "Do you have a [home] equity line? Or are you dipping into a retirement savings or college fund?" he asks. "When you renovate, you need to consider what you lose by taking away from those other areas."

The Reality of Renovations

For those leaning towards renovation, Kent offers a reality check. "I always tell clients there are three things that are constant in renovation," he states. "It costs more, takes longer, and is more cumbersome than you think." He advises homeowners to be realistic about the process to help them navigate it successfully.

Kent also notes that renovations often exceed the initial budget by 10 to 15 percent. Unforeseen issues, such as problems discovered when opening walls, can lead to additional expenses.

Making the Decision

Ultimately, the choice between renovating and moving depends on various factors unique to each homeowner's situation. Kent's insights underscore the importance of considering not just the financial aspects but also the impact on lifestyle and family dynamics.

Whether you're considering a move within Charleston or upgrading your current home, David Kent and the team at Charleston Home are here to help you navigate this important decision. With years of experience in the local real estate market, we can provide the guidance you need to make the right choice for you and your family.

Click here for the full article.

House Beautiful