Renovate or Sell?

Renovate your home or sell?

There may come a point in your life when you have to decide whether to renovate or sell your home. There are many different things to consider when trying to make this decision. Both of these options have their pros and cons, but it is important to think about each one carefully before making a decision.

 

Sellingsign

Over time, selling has gotten easier. If you find a helpful real estate agent to sell your house for you, it can make the process much easier. If you want to see how much your house would sell for, you can check out what the other homes for sale in your neighborhood are priced at and get a rough estimate. You can do many small projects and updates to help sell your home too! Whether this be updating your curb appeal, deep cleaning your home, or improving certain fixtures or areas around the home, you can increase the value of your home and it will be easier to sell. Before you sell your home, take in consideration your neighborhood, school district, access to downtown, and other factors such as these. If you enjoy the area you are living, it may be a hard adjustment to a new place with new people. Evaluate if a change would be a good idea for your family or not. If you think selling your house is the best option, make sure to contact one of our agents here at NextHome At The Lakes and we will help you through the whole process! If you do not think selling your home and moving is the way to go, try a renovation!

 

Renovating

Renovating is an excellent alternative for those houses that need a little help, but the home-owners are not looking to sell. Over time, renovating has gotten more expensive, but it can greatly increase the value of the house. Although, you may want to keep in mind that however much money you put in to your home, you may not receive the same amount back. For example if your renovate and update your bathroom for $8,000 you most likely will not be able to increase your listing price by $8,000. Generally speaking, renovating your current home is a less expensive option than going through the process of selling and buying a new home. Renovating instead of selling can be a great idea if you love the location you live in and are not wanting to have to relocate and start new.

 

Both remodeling and selling your home have benefits. By comparing the costs to each and evaluating other important factors, you will be equipped to make an educated  decision. For more tips and advice see, Should You Move or Improve?

 

Source:

Marks, Oliver. “Should You Move or Improve?” Houselogic, HouseLogic, 24 Aug. 2016, www.houselogic.com/remodel/remodeling-tips-advice/should-you-move-or-improve/.