Deciding to Add on to an Existing Home or Purchase a New One?

By
Real Estate Broker/Owner with Morningside Homes, LLC 720-231-5200 DRE# ER300941

Q..How Do You Decide whether to Add on to an Existing Home or Purchase a New One?

A..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.


As designer and builder Philip S. Wenz, the author of Adding to a House: Planning, Design & Construction, notes, an addition is much cheaper than building a new home and can offer a “new” home without the heartache of moving.

Other considerations:              decisions

  • 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.

 

Posted by

Buy or Sell with Patty Clark              Denver/Aurora Co. and surrounding areas 

Chris and Patty

    Helping Families Move with Care

  If you would like to be sent properties on a daily or weekly  basis just call or email me and let me know your wants and  needs. A match will be made with a home you love and with  monthly payments you can afford. I specialize in first time                       home buyers and sellers who are ready to make a move.

                                                    

 

Morningside Homes, LLC
patty@morningsidehomes.com

www.morningsidehomes.com
Cell: 720-231-5200                       CRS,GRI,WCR,SFR,CNE, MRE

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. John Sieling 10/08/2012 09:59 AM
Topic:
Home Improvement
Tags:
budget
equity
properties for sale
home improvement

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Rainmaker
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Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Lots of questions....and sometimes the answer lies in what your priorities are....how you want to live in the house...and with what conveniences...we are seeing empty nesters loving their improvements. Not as concerned about resale as how they live.

Oct 01, 2012 05:31 PM #1
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Rainmaker
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Patty Clark

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