Denver Never Stops Moving, Should I sell or remodel?

By
Real Estate Agent FA100039194

Should I sell my home, or remodel and stay? I have people ask me this question all the time.

I can tell you from personal experience once you start, there is no turning back so matter how horrible it becomes.

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It comes down to what is best for you and your family. There are times that selling and moving is the best answer, especially if you have outgrown your home, you want to downsize, or you just want something new that suits your needs better.

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Doing a cost analysis is the first step. How much will the renovation cost compared to what you can sell your home for and buy a new home. There are times that a fresh coat of paint, new carpet and replacing doors and fixtures will bring the value of your home up enough for you to sell and be able to afford that new home you have had your eye on. Here are some things to consider when making the decision  to renovate:

1You don’t have a lot of equity in your home

2. You don’t want to leave the neighborhood

3. The layout is perfect for your needs

4. You just don’t want to move

Keep in mind that when you do a remodel, don’t go overboard. Don’t create a palace that you will never be able to recoup the money that you put into it, when you do want to sell. Enjoy the renovation, but don’t expect that you will get every penny back out of it, along with a profit. I have had people tell me that they put 50,000 into their home and they want to add that amount to the price of the home. It doesn’t work that way!

To help determine which would be better from a value stand point. Have a professional real estate agent come to your home and give you a market analysis. This is free and a good agent will be happy to help you. This way you will know what your home is worth and the value of the homes in your area. How much updates will add to the value and exactly what kind. Not every update will add value and some will actually lower the value of your home. Here is an example; You need and extra room, so you decide to convert your garage. For you it is no big deal, but for a potential buyer, that wants a garage it is. You really haven’t added anything, in reality you removed a feature of the home.

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Ok, you’ve made your decision and you’re going to renovate!

First decide if you are going to  “do it yourself” or hire a professional. There are some jobs better left to the people that are experienced in that field. Replacing flooring or remodeling a kitchen, or bathroom can be daunting unless you really know what you are doing. There is nothing worse than being in the middle of a job and realizing you are in over your head, and now you need to hire someone. That could cost you a lot more money in the end. Not to mention the stress.

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Consider some logistics of the remodel. Can you remain in your home while it is being done. Tearing up a kitchen will mean not being able to prepare meals, or maybe not even being able to enter that room. How will the remodel effect other family members.

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Do you have small children, or animals that may be displaced while the remodel happens. How long will it take to complete. If you are doing it yourself and you only have the weekends to work on the project, it is going to take a lot longer, to complete.

Please let me know how I can help you, go to www.deverneverstopsmoving.com

 

About sondramsmith

I have a very diverse work history with one common thread and that is customer service and helping people. Helping people to achieve their goals has always been the driving force behind everything that I do. I have worked in the real estate industry for over 12 years. My experience also includes mortgage banking. I have the knowledge and experience that you need in a real estate agent to make your home buying or selling go smoothly. Why choose me to help you? Buying or selling a home is one of the most important decisions a person will have to make in their lifetime. This experience can be daunting unless you are working together with a professional real estate broker who understands the process Purchasing a home is one of the most important investments in a person's life. With my expertise and guidance in the home buying and selling process, I will help find the most appropriate home for you. You can be assured that I am an experienced Real Estate Professional. I will listen to you and will be working with your interests in mind. We will begin your home search by focusing on the location where you want to buy, and the amenities you want in a home. Determine how much square footage you want, how many bedrooms and baths you need, etc. Knowing what you're looking for will not only help you focus your search but will also help me understand your needs so that I can best assist you in the process Let me know what I can do for you now. I look forward to helping you! I am originally from Syracuse New York, lived in Gainesville Florida for the 17 years and I moved to Colorado in 2011. I am wondering what took me so long to get here! Living in Denver CO offers the best of both worlds close to the base of the Rockies and near all that the city of Denver has to offer; skiing, hiking, camping, biking, shopping, world class restaurants along with arts and culture. I have 3 sons the oldest is a Doctor in the Air Force stationed in DC. The next is working as an IT manager for a major company in Colorado, and the youngest is a graphic designer, in Gainesville Florida.
Sondra M Smith

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