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Existing Home or Buy New - North Georgia 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 ... more

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