The Cost Moving

A good local real estate agent should be able to assist you with estimates on these numbers.

– How much will it cost to purchase a home that will meet your needs?

– How much could you sell your existing home for? Don’t forget to subtract the agent’s commission from this total.

– What will it cost to move? According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical move costs 10% of the value of your home.

– How much will your property taxes increase as a result of the move?

– How much will the improvements add to the value of your home, also known as the “payback”? A local real estate agent can assist with this.

The Cost of Remodeling:

– What projects do you want to have done and how much will they cost? An architect or general contractor will be able to assist you with these figures. DMJ Restorations is dedicated to offering cutting edge service with state of the art design and estimating tools, backed by over 25 years in the business home design and renovation.

It would be quite easy to look at the numbers and come to the right conclusion if the decision about whether to move or renovate were purely a financial one. There are also emotional factors that come into play, and they have a value. Let’s consider some examples.

Reasons you may want to move:

– You’re not particularly fond of your current neighborhood.

– You would like to reduce your commute or have better access to local amenities, such as restaurants and shopping.

– Your yard is too small, and you can not expand it.

– If you relocate to a new neighborhood, your children could attend superior schools.

Reasons you may want to remodel and stay:

If you’re still feeling unsure and would like some additional assistance, contact DMJ Restorations for your free remodel consultation. Whether you decide to remodel or buy a new home, it’s important to ensure that you have proper financing in place prior to moving forward. If you decide to purchase a home, a mortgage originator will help you to determine how much you can afford, as well as which loan package works best with your overall financial plan.

If the decision about whether to move or renovate were purely a financial one, then it would be quite easy to look at the numbers and come to the right conclusion. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares.

– You’re happy with your location. It’s convenient, you love your neighbors, and the schools are either excellent or are not a factor.

Once you’ve completed your list and your financial assessment, it’s time to draw some conclusions.

– All you need is a little more space, and your home will be perfect.

You’ll need to have a clear idea of what you want to accomplish before finalizing any details with the contractor or architect if you choose to remodel. One of the most expensive things you can do is change the project midstream.

Of course only you know what is truly important for your happiness, so try to use these questions as a starting point. Create a list of the pros and cons of each scenario and leave it someplace accessible, so that you and your spouse can add to it as you think of additional factors. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares.

Whether you decide to remodel or buy a new home, it’s important to ensure that you have proper financing in place prior to moving forward. If you decide to purchase a home, a mortgage originator will help you to determine how much you can afford, as well as which loan package works best with your overall financial plan.

– You love the layout of your home.

There are low-cost improvements you can make to your existing home that will help it to sell more quickly if you decide to move. The kitchen and the bathrooms provide the biggest return on investment in this area.

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