Sell Or Remodel: Which Is
Right For You
Whether the initial love
has faded, or your home just doesn't work for you and your family anymore,
deciding between selling your home and remodeling can sometimes be a difficult
decision. So what should you consider
before making the decision to ensure that you will be more satisfied with the
end result than you are with your home now?
What Is The Current
Condition Of Your Home?
If part of the reason your
home isn't working for you or your family anymore is that several areas of the
home need updating or improving, then you may want to reconsider selling your
home. Often an outdated kitchen and
bathroom can have a considerable effect on the resale value of your home, and a
renovation of these areas may be necessary anyway to get the maximum profit
from your home.
What Is It You Need From
Your Home?
If you are thinking of
selling your home because its current size or the size of your property is no
longer working for you, or if the area in which the house is located no longer
serves the needs of your family, then selling your home is likely the best
choice versus a remodel. Renovations
that add additional rooms can be a huge cost and inconvenience, and in most
cases will not give you a good return for your investment.
What Is Your Financial
Situation?
Another thing you need to
consider before deciding whether to sell or remodel is your financial situation
as well as the financial standing of your home.
If the recent downfall in the housing market has made the value of your
home less than the outstanding balance of your mortgage, you will definitely
not want to sell. Also, if you are
thinking of a remodel, you'll want to be sure it will not put a financial
burden on you or your family.
Overall, deciding on
whether to sell or remodel depends on a number of factors, and contacting your
local Premier Beach Realty Agent is always a great way to get the best advice for your particular
situation.
