Renovate or Move?

We are often asked, "which is cheaper, staying in my home and renovating it or simply moving to a new house." In general, we estimate between 15% to 25% savings in staying put, rather than moving to new home, particularly in the central Massachusetts area. For basic renovation projects over 1,200 square feet, which includes the proposed renovation area, you should budget a range from $170 to $185 per square foot;  for more intense customization, figure closer to $240 per square foot.

“Clients that decide to renovate their homes really love getting involved with us in the redesign process”, adds Glenn R. Davis, President of Glenn Davis Architects. “We provide multiple schemes, tied to various cost levels, to allow clients an opportunity to match their needs with their available budget.”

However, to fully answer this question, there are more than financial considerations to consider. The proximity to schools and markets, or a close-knit neighborhood may easily sway a family to consider moving elsewhere, irregardless of the cost. In this case, matching a new home design to both the budget and the site itself are important steps in the evaluation process.

We are also often asked how architects are typically compensated. Traditionally, architects are compensated as a percentage of the estimated construction cost, in a similar manner as real estate brokers. The percentage can range from 10 to 17% or more, based on how customized the home may be. Depending upon the client’s needs or project size, there are other ways architects are compensated, such as on a fixed- fee basis where the price for architectural services are fixed based on the level of anticipated effort.

Typically, our clients are looking for the opportunity to view multiple design schemes and want to have input on the most expensive asset they have, their home. Since the opportunity to change one’s home occurs so infrequently, our clients appreciate working with us as co-designers.