Relocate or Renovate?
Should I stay or should I go? Inevitably, most homeowners are forced to ask this question at some point in time. The decision to sell their house and move away or to stay in their home and remodel can be very tough indeed. Many factors certainly influence whether you decide to move or whether you stay and remodel your home.
Move or Remodel?
Location, location, location. Its usually the mantra of real estate agents, but it applies here as well. Where your home is located is usually the most important factor because a home improvement project will never change the location of your house. You may be forced to undertake a move because of external forces you cannot change, such as:
You may not like the quality of your local school system.
You may not have many local options for shopping or lifestyle choices.
The size of your current lot or piece of land may not handle an increase in size or expansion.
A neighborhood association may prevent additions or expansions because it changes the look of the area or subdivision.
Legal or zoning restrictions in your city might prevent any changes.
Your subdivision may only have identical housing plans (cookie-cutter houses) and adding a second story or home addition could make it less valuable than the others in the neighborhood.
It may cost too much to renovate.
Because you cannot change these factors, you and your family may find that a move to a new location is absolutely necessary. Take a look at your home location and decide if it meets your needs, if it can be improved, whether or not it is too old, and whether or not you can deal with the stress of a remodeling project.
Too Much of a Good Thing?
Another factor in your relocate or renovate decision could be that your house is already the nicest in the area. An extensive renovation or improvement of the best house in the neighborhood might be fine if youre planning on living there for an extremely long period of time. However, if you have plans of selling in the future, such a renovation might prevent you from getting a decent return on your investment. If your house is already the nicest, spending more on it wont make the value go up even higher.
Taking the Plunge?
If youve decided to stay put, you may have made the best choice. If you ask people to list the costs involved with moving, most will only talk about the price for a moving company to come pick up their furniture. It can actually cost more to move than to take on certain remodeling work. There are costs associated with selling your house, buying a new house (realtor fees, closing costs), cleaning services, transporting your family (hotels, meals, gas), repairs and renovations needed to sell the old house, and many, many more.
If youre going to renovate, keep these tips in mind to make sure your home improvement projects will go a lot smoother:
o Decide whether youre improving your home for you or for a future sale - If you want to remodel your bathroom or paint your interior walls, the choices you make can affect the value of your home. You might love the color red or a modern sink design in your master bath. However, home buyers are not always fond of exotic designs and it may do more harm than good when youre ready to sell your home.
o Decide whether youll move out during construction You and your family may not be able to deal with the noise, debris, dust, and extra workers in your home. You might need to temporarily relocate to a hotel, apartment, or house. However, it might be a good idea to stay. Some like to be close to the action and be able to oversee the work being done. Its also important for someone to be there to receive deliveries. If you stay, its important to make sure you ask workers clean up at the end of each and every day. Make arrangements to replace the room being worked on (for example, set up your kitchen appliances in a spare bedroom during a kitchen remodel.)
o Arrange for sufficient financing to be able to cope during any project There could be many hidden costs in a home improvement project, so its good to budget for surprises. Plan for problems that a contractor might discover during the renovation. Plan for extra time (which increases your budget), beyond your projected completion date. Plan for changes you might decide on, too it might look good on paper, but you could change your mind during the remodeling job and those changes cost extra. Think about adding at least 15% to 25% to your expected budget for emergencies. Consider the little things, as well other hidden costs could include: ordering more takeout food during a kitchen remodel, paying for coin laundry services when your water is shut off for extended periods, or even hotel stays during heavy construction.
o Plan to do it all-at-once or project-by-project Many homeowners decide to remodel a kitchen and, while that job is underway, will then decide to add on a bathroom renovation. This can cause delays and extra expense. While its true that there are already construction workers on the job site, it takes careful planning to arrange for permits, materials, designs, and the subcontractors schedules to complete a project on time and on budget. Its best to plan for your kitchen remodel, bathroom remodel, and new patio installation to happen all at once or you should plan for them to take place individually, over a period of time. It will cut down on cost overruns, delays, and headaches.
Make it Happen
As the real estate market continues to slow down, and in some areas drop dramatically, it is an important time to consider staying put and remodeling your home. Housing prices may continue to level out so one sure way to improve property value is a proper renovation. Consult a designer or architect in your area to determine which changes will be best for your home in your neighborhood (To find a local architect or designer-builder, visit ConstructionDeal.com)
If youre planning to stay in your current house for a long period of time, make sure that any renovations you do are truly for you. Its your home and youve got to live in it and be comfortable. Whether you convert your basement into a recreation room or you want a spa tub installed in your master bathroom, go with the products and designs that work with your lifestyle. If your tastes are more exotic, you can always remodel or renovate again when youre ready to sell.
If you plan and finance your renovation appropriately, you should be able to make over your home to suit your needs with little or no problems. ConstructionDeal.com can be a great resource for finding the right experts to make your renovations dreams a reality.
Timothy K. Clark is the Director of Marketing for ConstructionDeal.com, a valuable website that matches Contractors with Property Owners for residential and commercial improvement, remodeling and repair projects. For more information, visit http://www.constructiondeal.com or call 866-663-47111.
Corporate Relocation Service To Deal With Transition Procedure
Relocation services have become easily to accomplish due to availability of many relocating company that are operating effici...
Becoming an Expat in the Dominican Republic
If you are looking for a practical life at low prices, moving to the Dominican Republic offers the opportunity to kick back o...
Corporate Relocation Service Eases the Whole Relocation Process
Does the very term itself sound scary to you? Well this is quite understandable as the process involves many complexities and...
Manage Every Aspect Of Relocation With Corporate Relocation Service
If you area relocation employee or a human resource manager of any organization then relocating the business is something tha...
Relocation - The Essentials Of Relocating To Florida
Living in the US can be a pain if you have a transferable job. But the same can be an adventure provided you know how to relo...
Long Island Movers Eases Out Your Relocation Process
Change is the only constant thing that we all stick to. Imagining life without trying to change anything in it is absolutely ...
Factors to Consider in Moving at Tampa Real Estate With Kids
Tampa is a good place to relocate and to purchase a new home since it has plenty things to offer. Definitely, Tampa is a beau...
Relocating With Kids At Tampa Real Estate
Tampa is definitely a good place to relocate since Tampa has a lot to offer.If you are planning to relocate in Tampa real est...
Guidance for Moving to Australia
Within Australia the culture and attitude to life is very unique and the country is becoming one of the most popular to reloc...
Employee Relocation - 3 Ways To Create Employee Interest For Relocating
When you try to get employees to join you and if they have to relocate from their base to the new place of work you would hav...
Corporate Relocation Services - Way to Move Ahead of Time
When we first think of relocation, it reminds us of a Hercules. In addition, this is one thing that one would love to avoid. ...
Cash Out Mortgage Refinancing An Affordable Alternative to Home Equity Loans
If youre considering a Home Equity Line of Credit or a Second Mortgage for borrowing against your home equity, cash out mortg...
Starting Over in Cozumel
Ever sit at your desk and dream of moving to a beach paradise? Well, starting over in Cozumel is both possible and doable.The...
Guide in Relocating in Miami Real Estate
If you are preparing to relocate with your family in Miami, you will no doubt to have an enjoyable stay in this city. In relo...
Transport Companies - Helping You Move Your Vehicle
Your car is one of the most precious luxuries that you own. When you move or relocate, you would want to move your car to the...
Off-Shoring and Strategic Partnership
Companies that are highly dependent on information and systems should renovate constantly. There is more and more information...
Quick Unsecured Loans - Secures Cash for You
In this fancy world today, a man needs a lot of things to fulfill his desires. Sometimes he may want to renovate his home, so...
Relocation - The Essentials Of Hiring A Shipping Company To Relocate
There are many factors responsible for companies and families to relocate. In many cases the company may be opening a new b...
International Moving Services - What To Look For In An International Relocating Service Company
Most companies bear the expenses of relocating their new employees or existing ones to new international locations. This is n...
Relocation Service - 3 Major Things To Make Relocation To New York Easy
It is a major decision to relocate to a new town, and especially if it a big state like New York, the experience could be ove...