Do you feel like you have outgrown your home? There is a lot to weigh when you think about moving: square footage, a more functional layout, school districts, interest rates and more. Then there is the daunting task of packing and unpacking everything you own. No wonder moving is stressful.

But what if you love where you live? You are a quick drive from your favorite stores, within walking distance of a great coffee shop, and your neighbors are wonderful. So what about the clutter and lack of space that made you think about moving in the first place? Maybe it is time to upgrade your living space instead. With home prices continuing to rise, a remodel may be the more practical choice. The best way to decide is to list the pros and cons of each.

Advantages of moving

• A more convenient location. You may be closer to work, school and shopping.

• A move-in-ready home. No more weekend DIY projects.

• No construction zone. We do our best to minimize dust, but construction is messy.

Disadvantages of moving

• You may have to leave an area you love. You can still visit friends and neighbors, and you may make new ones.

• You may not get exactly what you want. Unless you are building and choosing the finishes, there will likely be things you want to change.

• Moving is expensive. Closing costs, commissions, a down payment, packing supplies and movers all add up.

Advantages of remodeling

• You stay in the neighborhood you love. A big plus if everywhere you go is conveniently close.

• You get exactly what you want. Whether that is an addition or simply better storage.

• It may cost less than you think. If you have equity, you may qualify for a home equity loan, typically at a lower interest rate, without tapping your savings.

Disadvantages of remodeling

• Remodeling can be stressful, especially if you live through it. Moving out for a short time is recommended for a large remodel.

• You will likely spend more than planned. Unexpected issues come up, and it is tempting to add "just one more thing."

• You may not recoup the full cost when you sell. On average, homeowners recoup only part of what they spend on a remodel.

Finances and lifestyle are usually the biggest deciding factors. Don't decide based only on how you feel today. Think about the next five to ten years and what your future looks like. Meet with contractors, a realtor, your accountant and your lender to understand your options. Moving and remodeling are both big commitments, and being well informed will give you confidence either way.