Remodeling Versus Buying a New Home
There are many reasons for homeowners to consider purchasing a different home and moving their lives into it and, whatever the reason, many people are on the move today especially because of the glut of homes on the market that have been seized in foreclosure, low purchase prices and very low interest rates!
Before you pick up and move into someone else’s “territory,” however, consider this: not until you have moved repeatedly will you realize that the life you live changes from place to place and cannot be duplicated when you move. So, if you are enjoying your life and the neighborhood in which you live, or you have great neighbors or good local schools, you may want to consider remodeling your existing home instead of moving to a different one.
People buy new homes for many reasons, including an increase in income, a growing family, lack of storage space for your possessions, etc. You may have to spend many hours looking at different homes before you find one that fits your particular lifestyle and you will more than likely envision changes in that new home to better suit your needs. Many homes on the market today have been vandalized by previous resentful owners and may present huge headaches for you if you come along and purchase that home “as-is!” Remodeling your existing home may be a better solution for enhancing your living situation!
If you love certain aspects of your existing home and would like to enhance your lifestyle, remodeling your home ensures that you will get exactly what you want instead of settling for some other person’s idea of “home.” Remodeling a newer home is not advisable unless you have deep pockets, as it can be very expensive and most people will better benefit from purchasing a different newer home, rather than remodeling their existing newer home to fit their lifestyles.
One of the most desirable aspects of buying a new home is efficiency of appliances and saving money on utility bills. Newer homes tend to be more efficient and economical because of modern HVAC systems, water heaters, appliances, insulation and windows. If you choose to remodel, these things are a good place to start!
Most homes are well built enough to withstand the addition of a second (or third) story and it’s always more economical to build “up,” rather than “out,” since building out involves a lot of site work, including the foundation.
Before you leave your present home for life in a different one, consider all the factors that will cause your life to change, often drastically, by selling that home and moving somewhere else. Every home you live in will present you with a lifestyle that is not going to be replicated anywhere else, so make sure you really want to move before you turn your life upside down because it’s true that you can never go back!