Empty Nesters Ask: Should we remodel our current home or move?

 Have your children moved from home? Are you debating whether to downsize, renovate or move? Does your current home still meet your lifestyle needs?

Dan Fritschen, author of "Remodel or Move, 2005, www.remodelormove.com suggests asking yourself the following questions.

1. Are the kids really gone?

"Some young adults go through one or more false starts before they really find their wings," says Fritschen. "You may want to postpone converting your child's room to a home office or moving 1,000 miles across country until you are sure he or she isn't coming back."

2. Do you like your neighbourhood?

Did you choose your current home because of it's proximity to schools? Now a downtown condo, cabin or seaside cottage may sound more appealing. However, if you really love your area you may want to remodel and keep what you love and make it better.

3. Will you be able to accomodate guests and grandchildren for visits?

With more leisure time comes more socializing. Be sure to have space for house guests. Consider a guest suite for visiting pals and kids and their families.

4.Will your floor plan work for you as you grow older?

"Most empty nesters have plenty of vital years still ahead of them. But, the day may come when climbing stairs isn't as easy as it is now. Whichever choice you make consider a home with a spacious, single-level floor plan. If one of you becomes incapacitated, you'll be glad you were practical in this regard."

5. Have you considered the costs?

Both remodeling or moving can be expensive. Moving is far from free and remodelling can quickly become a money pit. The key is doing your homework so that you can make an educated decision. This may involve the expertise of a real estate or renovation professional to help you determine the costs involved.

Taken from  The Costco Connection, Mar 2008, by Anita Thompson