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National Association of the Remodeling Industry

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Posts Tagged ‘Pre-purchase Consultation’

Should We Stay in Our Home and Renovate/Add On or … Should We Move?

Monday, February 21st, 2011

 

Kitchen Remodeling

How to determine what makes sense for your family.

Before making the decision to renovate your existing home or move, ask yourself a few questions:

  • Do you like the town you live in?
  • Do you like your property and your neighbors?
  • Is your property expandable?

If the answer is "no" to any of these questions, then you need not give remodeling another thought!
 
On the other hand, if you answer "yes" to the questions above then you still must consider the following:
 
The Selling Cycle: During the selling process your home must always be kept clean and tidy for potential viewings. In today’s economy it is taking an average of four months to sell a home in Fairfield County.

Moving Before You Sell: If you move and sell your home after relocating to your new home, potential buyers will believe that if you hold onto your old home long enough the stress factor will come into play. This increases the chance that you will receive lower offers on your home.

Unexpected Upgrade Costs: When upgrading your home and moving to a new location, you must consider the higher costs. A larger home also means bigger utility bills, homeowner’s insurance premiums and so forth. That lawn that used to cost you $100/week to maintain now costs much more. Do your homework and get estimates on these additional costs prior to purchasing your new home. We have heard from many homeowners who were taken by surprise when their Landscape Contractors gave them the estimate for their new property!

Related Fees: Real estate commissions, closing and moving costs will typically be 10% or more of your selling price.

Moving Costs and Headaches: Once you sell your home you have to pack up your belongings and move. The new home will be filled with boxes to unpack and redecorate.

Redecorating Expenses: Unless your home is custom built, you will also need to paint and refurbish your new home. Perhaps those drapes and blinds that fit so nicely in your old home no longer suit the new house. Sometimes, although the previous owners thought their taste was exquisite, you don’t share the same aesthetic.

Family Issues: If children are involved, they must be uprooted and transferred to a new neighborhood. Most children are quite resilient and able to cope with the transition smoothly, but this is obviously an important factor in a family’s decision to move.
 
If you are considering a move, don’t hesitate to call us before buying your new home. A Pre-purchase Consultation and Renovation Feasibility Analysis will help you visualize the renovation prior to purchase.
 
At Titus Built, we are able to transform your thoughts and ideas into reality. Your home will be designed to enhance your lifestyle with new technology, re-purposed rooms, and built-ins added to minimize your footprint in a clutter-free environment.