Q: What are the factors we should consider in choosing between remodeling or moving?
In today's market, homeowners must consider both sides of the coin when considering a move. There are certainly good deals on the buyers side, but the sellers side is still a tough reality. Many homeowners choose the path of renovating rather than relocating, simply because they stand to lose most or all of the previously built up equity in their home. When considering a renovation, you may wonder if the investment will come back to you in the current market. One reality of renovations can sometimes be overlooked ; If you do not update the major areas of your home every 10 or so years, then you stand to lose money, whether by initial listing price, negotiation by buyers, or in competitive edge...all result in lost money. The trick in protecting your home value and cash investments in renovations is to spend your money wisely. Make sure that you are updating areas that are focal points in the home & that will give you the wow factor that you need to have a competitive edge in the marketplace. Also, don't forget to implement some of your own style so that you can enjoy the fruits of your renovation in between real estate transactions.
Q: We are recently empty nesters, what are some options we should consider in remodeling our house that would be fun, and maximize our investment for the future?
When I think of a homeowner or couple that has recently become empty nesters, I first consider the renovations that they are going to enjoy and appreciate the most. Of course this is going to depend upon your lifestyle and where you spend your time in the home. If you spend a lot of time cooking and/or entertaining...or would like to start, then the kitchen is a great place to start. If you are always on the run & rarely at home, then turning your bathroom into a spa retreat may be the project for you. If you want to have the cocktail party and home theater hang out at your home, then turn the basement or attic into the space you have always wanted.
Q: What are factors you should consider in creating a budget for an entire house remodel?
Unless you have a lot of experience in this area, leave it to the pro's. Make sure to get in touch with a design build company that can not only talk to you about project budgets, but someone who can also help you design and create to fine tune the beauty and details of your project. It is very difficult to anticipate all of the necessary equipment, materials, and labor that comprise a project with a lot of moving parts. Quality design build companies will provide a detailed design and proposal to help educate and inform homeowners to ensure maximum comfort and confidence in the value of your project.
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