Save this article
Use this article for free on your own website
Republish this article for free on your own website or blog. Or search or browse for more articles that your audience will appreciate. Huge choice available. Ideal for finding quality, free content. Read our publishers guide.
Do You Want To Trade-in Your Home?
Every year, millions of Americans move into their dreams home.
Every year, millions of Americans move into their dreams home.
As time goes by, families expand, children grow older, and suddenly that home is not quite so perfect anymore.
Or perhaps you still do love your home, but you really want a gourmet kitchen and a larger master bedroom.
Should you start looking for a new house in that case? Or would it be better to stay where you are and just remodel the place instead?
Both options involve a significant amount of investment in time and money, so it’s important to take your time to study and make an informed decision.
You’ll also want to make sure that you consider both the financial and the emotional sides. Let’s commence by examining the financial factors involved first.
Moving: A good local real estate agent should be the best person to assist you with accurate estimates on these numbers: - How much does it cost to purchase a home that will meet your needs?
- How much could you really sell your existing home for? Don’t forget to subtract the agent’s commission from the total transaction amount.
- What will it cost to move the house? According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical home move costs 10% of the total value of your home.
- How much does your property taxes increases as a result of the moving?
Remodeling: - What projects do you want to have and how much will the project likely to cost? An architect or general contractor will be able to assist you with these.
- How much will the improvements add to the overall home pricing, also known as the “payback”? A local real estate agent can assist with this too.
Reasons you may want to move your home: - If you relocate to a new neighborhood, or your children could attend a more superior school.
- You would like to reduce your travel time or have better access to local amenities, such as restaurants and entertainment centre.
- You do not really like your current neighborhood.
- Your yard has become too small for your family, and you cannot expand it.