Transparent calculator methodology
Compare the financial tradeoffs of renovating and relocating
The tool separates renovation spending from estimated value added and accounts for the sale, purchase, financing, and moving costs that can make a new home cost more than its listing-price difference suggests.
What the estimate includes
- Renovation budget, contingency, financing, and estimated value added
- Current mortgage payment and remaining balance
- Home-sale costs, purchase closing costs, and moving expenses
- Replacement mortgage payment and projected equity
How the comparison works
Both paths project home equity to the selected horizon. The model also accounts for differences in housing payments so a lower-payment option receives the potential future value of that monthly cash-flow advantage.
Important limitation
Contractor bids, schedules, appraisals, financing eligibility, and future property values can differ materially from an estimate. Obtain project bids and loan disclosures before deciding.