If you moved into your home when house prices were low, thinking someday you would move on to a larger home or a home with upgraded features, you may be asking yourself a tough question. Should I sell my home or remodel? House prices have drastically increased in recent years and many people are finding that what seemed like a small jump before, could cost a huge price tag now. If your home is on a sizeable lot, has great views, and nice neighbors, you may consider staying in your home and remodeling. Many homeowners have found that putting on a large addition, updating kitchens and baths, or adding on a pool, is still more affordable than moving to a new home.
Before making any decisions, first decide on what you are looking for in your future home. More bedrooms, a larger kitchen or living area, close proximity to schools, etc. Make a list of necessities and desires. Then investigate how much homes in the neighborhoods you wish to live in, or homes of a certain size are selling for. Next, you will want to contact a contractor to give you an estimate of how much it will cost to remodel your existing home. You may find that the changes you want are not possible with your property. Building codes and zoning laws may prohibit the changes you will need to stay in your current residence.
There are a few other considerations to bear in mind. How much will your taxes increase? Insurance? Will you miss your neighbors? Do your school zones change, meaning your children may have to change schools? It is important to weigh all of the changes that moving can bring. After you have a complete picture of the cost comparison from moving to a new home or remodeling your existing home, you will need to make your final decision. Moving to a new home can be exciting, but you want to make sure you can afford to make the larger investment before you purchase that home. Sometimes you may find that with a new kitchen, or a swimming pool, you may be able to enjoy a few more years in your current home.
By: Robert Lipply
Posts Tagged ‘Remodeling’
Should I Sell My Home or Remodel Instead?
April 4th, 2010How To Spot And Avoid Home Improvement Scams
April 1st, 2010
The decision to employ a contractor for a home improvement job, room addition, or home repair might not always be an easy one to make. Sometimes, however, it is absolutely necessary to call a professional to handle a job you are unable to do yourself. If you are ready to renovate a bathroom or remodel a kitchen, you want the best person for the job, quality worksmanship at a reasonable priced. Nobody wants to be scammed out of good money for a poor job, but unfortunately it does happen.
Oftentimes, older people are preyed upon in home improvement scams. Taking advantage of a senior citizen’s tight budget, a scam artist may try to double-talk a homeowner into expensive, unneeded repairs, then take the money and run. If any work is done on the home, more than likely it isn’t enough to justify the payment, and also the work may be shoddy and leave the house in worse condition than it was. Such scams are not always perpetrated on older homeowners, however. Therefore, it is important to know what signs to look for so you don’t become ensnared in a fraudulent remodeling job.
What to Look For in a Home Improvement Scam
One possible sign of a con-artist contractor is the approach. If a contractor approaches you for home improvement work unbidden, be warned, especially if he or she is aggressive. Don’t let anyone talk you into repairs or additions you feel your home doesn’t need, and do not allow anyone to come off the street into your home for a “free estimate.” This could actually be a way for somebody to case your home for a future robbery. Even if this person claims to have done work in your area you will want to be on guard. Many contractors find work through customer referrals, so if you are in need of home repairs it is best to get referrals from trusted sources like friends and family.
Be mindful, too, of contracts and payment. If a contractor wants cash up front, or is reluctant to agree to certain terms on a contract, that is usually a red flag. If financing is needed and a contractor insists upon your using his or her referral, that could be another sign. It is not uncommon for unscrupulous contractors to receive kickbacks from creditors they bring into a job. If you need financing, go through your own bank or resource.
Does your contractor have a physical address and phone number, or work primarily through a PO box? This could be another sign of dubious intent. You want to be certain the contractor you choose can easily be found, and is properly licensed and insured. You may wish to avoid anyone who refuses to provide such information.
Be aware of anyone and everyone you approach with a possible home improvement job. Take care to explore recommendations of people you trust and examples of work by potential contractors, and know your legalese before committing a signature to any contract. This is the best way to ensure a job well done without any problems
By: Kathryn Lively
What About Home Improvement?
March 12th, 2010
If you’re like most people you may be having the urge to change things a bit in your home but have no idea where to begin. Remodeling and home improvements are exciting endeavors to consider. It is a time when your imagination can run wild and you get tap into your more creative side. Don’t worry about whether or not your new space will earn a spot in the latest home improvement magazine. Sometimes we feel like we have to make our home like a museum for it to be beautiful. Not so. Just relax and create a space that it truly comfortable for you and your family.
Everybody sees home improvement ideas on TV shoes, in magazines, in hardware stores and on the Internet. The internet is nice because you have access to it more easily and can really take a thorough look at things like kitchen remodeling pictures, before and after photos, bathroom remodels, room additions, and much more. You can even find a full kitchen layout or detailed remodel plans for various rooms on the web. You may find some that you could use as a template or as inspiration. However, if you need firm design plans it is best to consult a professional contractor or designer to make sure you get what you think you are getting.
The easiest place to begin with is the budget. This dictates many things. At the same time, you need to know which rooms need the most love and attention. Some may just need a simple new look that can be achieved with a coat of paint and new window treatments. Others may need some serious upgrading. Decide on priorities and budgetary constraints. If you happened to have purchased a fixer-upper or your home is older, you may want to look into home improvement financing. This can help you with the costs. It is important to weigh out how much you are spending on the renovations with the overall value it will add to the house. Look at how much you bought the house for, how much it is worth now, and how much the renovations will add to the value. This should help in determining your overall budget.
Once finances are squared away, you may want to start price comparing. Price comparing can refer to quotes from contractors or to finding out how much granite countertops will cost compared to quartz. It also involves finding the most economical but quality supplier of the items you will need. Generally, for bigger jobs you want to let the contractor take care of that. Your job will be to check the references of the contractor and to get quotes from several. If you do that, you will have to have a general idea of what kinds of things you would like to see happen to your space and what features or finishings you want. Things like hardwood or carpet will greatly influence the quote you get.
This doesn’t have to be a scary experience. Just take your time, walk carefully, and move wisely. You will be so thrilled with the end results. Everyone loves a home improvement.
By: Alice Lane