Offered by Arlene Castro, iGo Realty
Your children have finally moved out and you and your spouse now live alone in a four bedroom home. Should you:
- Remodel your house to your current lifestyle and needs.
– or –
- Sell your house and purchase the perfect home.
Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on option one. But, is that the best long-term solution?
If you currently live in a 3 to 4 bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along with a large home, you more than likely also considered school district, the size of the property and the makeup of other families living in the neighborhood (example: you wanted a block with other kids your children could play with and a backyard large enough to accommodate that).
Remodeling your home to meet your current needs might mean combining two bedrooms to make one beautiful master suite and changing another bedroom into the massive walk-in closet you always wanted. However, if you live in a neighborhood that historically attracts young families, you may be dramatically undermining the value of your house by cutting down the number of bedrooms and making it less desirable to the typical family moving onto your block.
Your home is probably at its highest value as it stands right now. Instead of remodeling your house, it may make better financial sense to sell your current home and purchase a home that was built specifically to meet your current lifestyle and desires.
In many cases, this well-designed home will give you exactly what you want in less square footage (and less real estate taxes!) than your current home.
If you are living in a house that no longer meets your needs, at least consider checking out other homes in your area that would meet your lifestyle needs before taking on the cost and hassle of remodeling your current house.
If you would like more information on what is the best option to meet your needs call iGo Realty for a FREE home consultation at (303) 862-5457 or visit our website at: www.igorealty.com.
*Source Unique Litho
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