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Helping you Decide On Moving into a New Home or Remodeling Your Current home
You have lived in your home for quite some time, and chances are you have made many happy memories there. However, it may be time to move to the MS Gulf Coast or your hometown.
Perhaps the home no longer suits your needs or design style. Now you are torn between buying a brand-new home and remodeling. The answer depends on several factors.
Perhaps the home no longer suits your needs or design style. Now you are torn between buying a brand-new home and remodeling. The answer depends on several factors.
HERE IS A CHECKLIST TO CONSIDER WHEN DECIDING ON BUILDING OR REMODELING YOUR HOME:
Is the Home Large Enough?
One of the main reasons families move is the need for extra space. With a custom-built home, you can design the floor plan that is best suited for your family. Other home builders on the MS Gulf Coast who build in coastal communities, such as DR Horton, Elliott Homes, Adams Homes and DSLD, also have many floor plans. However, you can add square footage to your current home with an addition or by reconfiguring the layout to add more space through a more efficient design. It is essential to check with the city to determine what is allowed in your community.
Can You Come Up with a Realistic Budget?
When deciding whether to move or remodel, budget is one of the key factors. Set a comfortable budget for renovations. Think about how much you can change or add to your current home. Consider how long you will stay in the house to determine your return on the investment—budget accurately if you opt to remodel and get several quotes. Be sure to have a contingency fund set up for any unforeseen items that may come up.
Next, have a REALTOR visit your home to help determine what it would be worth in today's real estate market. Perhaps you didn't realize how much equity you have in your current home. You may decide to use it to start fresh in another home. The market analysis will greatly help decide if moving is a better option. Research new construction homes as they will offer the most up-to-date floor plans, communities and warranties. Don't forget to factor in the energy and insurance savings you will receive with a newly constructed home.
Is This The Only House You Can See Your Heart In?
Emotions play a significant role when deciding on building or remodeling. Think about your family's connection with the home and community. Remodeling may be the best option if you have a strong emotional connection. A significant remodel can dramatically enhance the look and functionality of the home.
How Long Will Remodeling Take?
Remodeling a home takes time, energy, and lots of patience, especially if you live in the house during the process. For example, consider meal options during a kitchen remodel that involves new cabinets, countertops, floor, and appliances which can take up to six months. Combined with a bath remodel, it can take much longer and limit bathroom use. Gather the family to discuss the changes the remodel will require when it is underway. It may turn out that building a new home is a better option for all.
Ultimately, the decision to move or remodel is best made after considering all factors. Another tip: don't rush your decision; creating a list of pros and cons for each choice is best.
As a New Home Specialist with experience helping buyers and builders with their real estate needs, I can help you navigate your decision. Contact me and let's get together to explore your choices, including those in The Highlands by DR Horton.
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The Highlands by D.R. Horton
