Home prices in and around San Francisco have shot up astronomically in the last few decades. In January 1990, the median single-family home sale price in the Bay Area was just over $200,000. As of January 2025, it was around $1.3 million, according to data from Compass.
That means people who’ve owned a home here for a long time are likely sitting on substantial home equity. That’s a good thing, in theory.
But if your housing needs have changed — say, you could use more space, less space, updated amenities, age-related considerations like stairs — it becomes a math problem. How do you decide whether to buy a new home, remodel the one you have, or do something else entirely?…