Is it time to stay or time to go? Should you sell your home and upgrade or just remodel your existing home? These are the questions that many homeowners are asking themselves. There are a few things to take into consideration when making that choice. Let's take a look at some things that you may want to think about when deciding which option works for you and your family.
First and foremost, what will give you the most value? When selling your home there are several costs that you need to calculate. Take a look at what you think you could get for your home. Then, look around. If you were moving into it today, what would you have to do to make it appealing enough for you to buy again? If you are not sure what your home is worth (or to verify even if you think you know), contact a real estate agent for a competitive market analysis (CMA). Don't forget to calculate any fees or closing costs that may apply and leave room for anything a buyer may ask you to change or upgrade like carpet or appliances. (Your agent may make some suggestions too.) After figuring the expenses of selling and moving, take a look at what that will leave you to put down on a new home.
Sometimes remodeling may be an option. If you like your neighborhood, renovating may be a way to get the features you want without the hassle of moving. When considering remodeling, you need to think about what you want to change. Make a list of the renovation ideas you have and head out to your local home improvement store. Many stores now have staff trained in interior design or may have someone who can help you lay out your floor plan for remodeling kitchens or baths. (You may want to call first to see if you need to make an appointment to take advantage of those services.) Some jobs, like electrical upgrades, should not be attempted by the average homeowner but should be entrusted to a professional contractor. You will also want to check with your city to find out what building permits you will need for your projects. Don't forget to ask how much the permits will cost. They should also be able to tell you what jobs you can do yourself and what is required to be completed by a licensed contractor. Some cities require the work to be checked by a city inspector.
It may sound like a lot of legwork but in the end you should be glad you took the time to compare the two options. One thing to consider if you are going to remodel: you will be on your own unless you hire an interior designer. You will also have to live in a construction zone for a while as well. If you decide that moving is the better option, you will have the help of a real estate professional to guide you through the process. The downside is you will have to pack and then unpack when you move into your new home! Whether you decide to stay or to go, taking the time to figure out what the best value is for you and your family will pay off in the long run.
If you decide a new home is the way to go, we will be glad to help! Give Sandy's Team a call at (225) 677-SOLD or email info@sandyco.com. We are here it help you in East Baton Rouge, Livingston Parish, and Ascension Parish. We can help with just about everything but the packing!!
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