Existing Home or Buy New - North Georgia Real Estate

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Real Estate Agent with Better Homes & Garden Real Estate

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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Rainmaker
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Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Donna, great list for consideration before decision are make. Thanks for sharing.

Sep 29, 2012 06:24 PM #1
Rainmaker
359,841
Donna Yates - Metro Brokers
Better Homes & Garden Real Estate - Blue Ridge, GA

Hi Kwee:  Thank you for your comment.

Sep 30, 2012 05:17 AM #2
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Rainmaker
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Donna Yates - Metro Brokers

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