Renovate or Relocate?
What I’m Seeing in Today’s Market
I recently came across a post that really caught my attention.
It talked about how the urgency to sell is fading, and how more homeowners are choosing to renovate their homes instead of moving. And the more I sat with it, the more it started to reflect what I’ve been seeing in real time.
Because this shift… it’s happening.
The Shift Toward Function Over Resale
According to the data, nearly 7 in 10 homeowners are renovating with functionality in mind rather than resale value.
That’s a big change.
For a long time, the conversation around home updates centered on what would “add value” or help a home sell faster. But now, more homeowners are asking a different question…
“How can I make this home work better for me?”
What Homeowners Are Actually Updating
The focus isn’t on full-scale renovations.
In fact, only about 8% of homeowners are taking on full-home remodels. Instead, most are making targeted updates that improve everyday life.
Things like:
• Bathrooms
• Kitchens
• Flooring
• Layout adjustments
Spaces that are used daily… spaces that directly impact how a home feels to live in.
And for many, these projects are being done in phases. Over half of homeowners are budgeting $25,000 or less, choosing to prioritize one space at a time instead of taking on everything at once.
Why This Is Happening
Part of this shift comes down to the reality of today’s market.
Interest rates, affordability, and the cost of moving have all played a role in slowing that “we need to move now” mindset.
But beyond that, I think there’s also been a mindset shift.
People are more willing to stay and improve what they already have… especially when the home itself still works, it just needs a few adjustments to function better.
Renovation as the Alternative to Moving
When the kitchen works better…
When the bathroom feels updated…
When the layout supports your daily routine…
Suddenly, the need to move doesn’t feel as urgent.
And I’ve seen this firsthand.
Homeowners who may have considered selling a year or two ago are now choosing to stay put, invest back into their home, and make it fit their life a little better.
What This Means for the Market
This shift has a ripple effect.
We’re seeing fewer homes hit the market, and when they do, sellers tend to be more intentional. They’re not moving just to move… they’re moving because it truly makes sense for their next step.
It also means buyers are navigating a slightly tighter inventory, where each home that does come available matters even more.
So… Should You Renovate or Relocate?
This is where things become personal.
There’s no one-size-fits-all answer.
Sometimes, a renovation is exactly what you need to fall back in love with your home. Other times, no amount of updates will change the fact that it no longer fits your lifestyle.
The key is understanding the difference.
Final Thought
The conversation is shifting.
It’s no longer just about what will increase your home’s value… it’s about what will improve your life within it.
And whether that means renovating or relocating, the goal is the same…
Creating a space that truly works for you.
Ashley Dudley | Broker Owner HomeGrown Real Estate
ashley.dudley@homegrownreva.com
540.271.1655