North Georgia, Blue Ridge Real Estate, Home Improvement, Home Buyers, Real Estate Listings

 

Adding on to an Existing Home vs. Purchasing another Home

 

There are a few things to consider, including cost, individual needs, and what will add value down the road. Also important: your emotional attachment to the existing home.
An addition is most likely less expensive than building a new home and can offer a “new” home without the heartache of moving, but home prices are very low and interest rates the lowest in generations, so purchasing may be a viable option.

Other considerations:

  • Can you finance the home improvement with your own cash or will you need a loan?
  • How much equity is in the property? A fair amount will make it that much easier to get a loan for home improvements.
  • Is it feasible to expand the current space for an addition?
  • What is permissible under local zoning and building laws? Despite your deep yearning for a new sunroom or garage, you will need to know if your town or city will allow such improvements.
  • Are there affordable properties for sale that would satisfy your changing housing needs?
  • Explore your options. Make sure your decision is one you can live with – either under the same roof or under a different one.
                     Donna Yates Real Estate DYnamics
 
Donna Yates
Mobile/Text: 706-633-0644
email: donna@donnayates.com
www.move2northgeorgia.net
www.coldwellbanker.com/website/donnayates
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2 Comments on Existing Home or Buy New - North Georgia Real Estate

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481,016 Points 4 Featured Posts Outside Blog Called Shot Master

Hi Donna, great list for consideration before decision are make. Thanks for sharing.
6:24pm • #1
SEP
30
328,763 Points 5 Featured Posts Outside Blog

Hi Kwee:  Thank you for your comment.
5:17am • #2

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Donna Yates Broker Assoc, GRI, Georgia North Georgia Blue Ridge Real Estate

Blue Ridge, GA

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Blue Ridge, Ellijay, Blairsville, Hiawassee, Morganton, Aska

Address: 274 W. Main Street, Blue Ridge, GA, 30513

Office Phone: (706) 632-7311

Cell Phone: (706) 633-0644

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