When you bought your home, it filled your needs. But as time has passed, those needs have changed. Does this sound familiar? You are certainly not alone.

Many homeowners face this same dilemma. As your lifestyle evolves, it’s only natural your ideal home would as well. Whether you’ve had more children, older relatives joining the family or some of your kids have flown the nest, chances are pretty good you want your space to fill different needs than it currently does.

So, should you remodel your existing home or by a new one? There isn’t one answer that’s right for everyone. The best thing for you and your family depends on a variety of factors.

A recent Seattle Times article, “Buy or remodel? Consider these factors,” explored some of the best questions you can ask yourself as you weigh the pros and cons of moving and remodeling.

These were our favorite two:

Location – Is staying in your current neighborhood a priority?

Budget – Depending on your needs, moving or remodeling could be more economical. Would you have to make major structural changes to upgrade your home? How many homes are currently on the market within the neighborhood where you’d like to live? Both of these factors play a huge role in determining which is the more economical choice.

What else did the Seattle Times article have to say? You can read the full version here.