Your growing family is happy where you live, your children go to great schools, and you have a convenient commute - but you need a bigger house. If you are only in need of a larger kitchen, remodeling may be in your best interest. If your entire home is in need of renovation, you might be better off looking for a new home.
Location is a major factor.
If you are happy with your school district and childcare, you like your neighbors and the area you live in, and you have a manageable commute, you might first consider looking into remodeling. However, if you are not content or in need of a change, remodeling won't change the neighbors or the schools. Money is a prime consideration. If you invest in your home, you know that the money is going toward your immediate improvement needs, and the resale value of your home down the road. If you sell your home, you will pay for closing costs and real estate commission, as well as moving expenses.