This article takes a close look at whether you should invest in your home by adding on, or just move. Take a look.
Question: My family lives in a very small, older home in a neighborhood that is rapidly increasing in value in Charlotte, N.C. Our two-bedroom home is about to become too small as we consider having a third child, and we are struggling with determining whether to move or renovate. If we renovate, we'll have to take on additional home equity debt, but we'll be able to remain in a hot neighborhood. If we move, we can get a larger house and keep the same mortgage amount, but we will be further from downtown and have less property appreciation. What would you do? What factors come into play that we might be missing?
Read more to find the answers at the Wall Street Journal.