What Should You Do? Renovation or Relocation San Pedro
Local Chimney Cleaning San Pedro — Is it better for me to stay or leave? Most homeowners will undoubtedly be forced to ask this issue at some point in their lives. It can be difficult for people to decide whether to sell their home and move away or to stay in their home and remodel. Many things will have an impact on whether you decide to relocate or stay and remodel your property.
MOVE OR REMODEL?
It’s all about the setting. It’s a common motto among real estate brokers, but it also applies to this situation. Because a home renovation project will never affect the position of your property, where it is located is usually the most crucial factor. External influences that you cannot control may drive you to make a move, such as:
* It’s possible that you don’t like the school system in your neighborhood.
* You may not have many retail or lifestyle options in your area.
* Your current lot or piece of land may not be able to accommodate an increase in size or expansion.
* Because additions or expansions impact the appearance of the region or subdivision, a neighborhood organization may prohibit them.
* Any alterations may be hampered by legal or zoning constraints in your city.
Note that adding a second storey or home extension to your subdivision may make it less valuable than the others in the neighborhood because it may only have identical housing plans (“cookie-cutter houses”).
* Renovating may be prohibitively expensive.
Because you cannot change these factors, you and your family may find that a move to a new location is absolutely necessary. Take a look at your home location and decide if it meets your needs, if it can be improved, whether or not it is too old, and whether or not you can deal with the stress of a remodeling project.
TOO MUCH OF A GOOD THING?
Another factor in your “relocate or renovate” decision could be that your house is already the nicest in the area. An extensive renovation or improvement of the best house in the neighborhood might be fine if you’re planning on living there for an extremely long period of time. However, if you have plans of selling in the future, such a renovation might prevent you from getting a decent return on your investment. If your house is already the nicest, spending more on it won’t make the value go up even higher.
TAKING THE PLUNGE?
If you’ve decided to stay put, you may have made the best choice. If you ask people to list the costs involved with moving, most will only talk about the price for a moving company to come pick up their furniture. It can actually cost more to move than to take on certain remodeling work. There are costs associated with selling your house, buying a new house (realtor fees, closing costs), cleaning services, transporting your family (hotels, meals, gas), repairs and renovations needed to sell the old house, and many, many more.
If you’re going to renovate, keep these tips in mind to make sure your home improvement projects will go a lot smoother:
o Decide whether you’re improving your home for you or for a future sale – If you want to remodel your bathroom or paint your interior walls, the choices you make can affect the value of your home. You might love the color red or a modern sink design in your master bath. However, home buyers are not always fond of exotic designs and it may do more harm than good when you’re ready to sell your home.
o Decide whether you’ll move out during construction – You and your family may not be able to deal with the noise, debris, dust, and extra workers in your home. You might need to temporarily relocate to a hotel, apartment, or house. However, it might be a good idea to stay. Some like to be close to the action and be able to oversee the work being done. It’s also important for someone to be there to receive deliveries. If you stay, it’s important to make sure you ask workers clean up at the end of each and every day. Make arrangements to replace the room being worked on (for example, set up your kitchen appliances in a spare bedroom during a kitchen remodel.)
o Arrange for sufficient financing to be able to cope during any project – There could be many hidden costs in a home improvement project, so it’s good to budget for surprises. Plan for problems that a contractor might discover during the renovation. Plan for extra time (which increases your budget), beyond your projected completion date. Plan for changes you might decide on, too – it might look good on paper, but you could change your mind during the remodeling job and those changes cost extra. Think about adding at least 15% to 25% to your expected budget… for emergencies. Consider the little things, as well – other hidden costs could include: ordering more takeout food during a kitchen remodel, paying for coin laundry services when your water is shut off for extended periods, or even hotel stays during heavy construction.
o Plan to do it all-at-once or project-by-project – Many homeowners decide to remodel a kitchen and, while that job is underway, will then decide to add on a bathroom renovation. This can cause delays and extra expense. While it’s true that there are already construction workers on the job site, it takes careful planning to arrange for permits, materials, designs, and the subcontractors’ schedules to complete a project on time and on budget. It’s best to plan for your kitchen remodel, bathroom remodel, and new patio installation to happen all at once or you should plan for them to take place individually, over a period of time. It will cut down on cost overruns, delays, and headaches.
MAKE IT HAPPEN
As the real estate market continues to slow down, and in some areas drop dramatically, it is an important time to consider staying put and remodeling your home. Housing prices may continue to level out so one sure way to improve property value is a proper renovation. Consult a designer or architect in your area to determine which changes will be best for your home in your neighborhood.
You should make sure that any modifications you do are truly for you if you expect to stay in your existing home for a lengthy period of time. It’s your home, and you have to live in it and enjoy it. Choose goods and ideas that fit your lifestyle, whether you want to turn your basement into a play room or put a spa tub in your master bathroom. You can always redesign or refurbish again when you’re ready to sell if your tastes are more unusual.
You should be able to “do over” your property to meet your needs with little or no complications if you plan and fund your remodeling properly. You can use a recommendation service to identify a dependable contractor.