People move for a variety of reasons, but before you make that big decision, sit down and consider what it is you're trying to accomplish. Obviously, if you don't like your neighborhood, that's one thing. But, if it's a new kitchen, extra bedroom, or just a facelift you desire, that's an entirely different situation. Following are some questions you should ask yourself (and your family) before listing or hiring a contractor:
* What's the real estate market like in your community? Will your home sell? Will you come out ahead?
* Do you like the style of your home or does it look dated?
* Do you have enough money to remodel or make the improvements you want? How much equity do you have? Can you get a home equity loan?
* Can you get permits for the changes you want? Is zoning an issue?
* Do you need more square footage? Or, would changing your home's layout do the job?
* Is it cheaper to improve than it is to buy another home?
* Will you get the money back out if you decide to sell a year or two down the road?
Keep in mind remodeling can be very expensive. Depending on the size of the project, you have contractors, interior designers, inspections, permits, insurance, materials and labor to consider. In addition, if you opt to make improvements, make sure you make the right ones. Improvements that add the most value include adding or remodeling a bath, improving the kitchen, adding a new room, adding an outdoor living space, and landscaping.
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