Is it Time to Remodel?

With a sluggish real estate market, are you planning to stay in your existing home longer?  If so, you’re not alone. Many homeowners across the country are realizing that their current home may be called home for a while. Just know knowing that now is a great time to invest in your existing home. Don’t relocate, renovate your space to make it fit you, your family and all the activities that take place in your home. I can not think of a better investment that your home and your gratification of a new functional living space. Here are a few reason why it is a good time to remodel.  

• Local real estate inventory is low – Perhaps the biggest reason to remain in your home these days is because inventory in the market is extremely low. This may lead to a fast sale of your home, but you’ll also need to find a new place to live. That may not be easy and it may not present you with a lot of different choices.
• Mortgage rates are rising – The mortgage interest rate is starting to rise after sitting at historic lows for years. As the federal government begins to back out of this process, home loans are becoming more expensive. Remaining in your current home and sticking with your current loan may be a tremendous advantage to you financially.
• Familiarity with your current home – If you have lived in your current home for several years, you most likely have a very specific idea or ideas regarding what you would like to have done to it to add to your enjoyment of it and to the value of the property. When you move into a new home, that process of becoming familiar with the structure starts all over.
• Familiarity with your current location – Over time, people become intimately familiar with their neighborhoods. Parents have children in school and everyone forms relationships with neighbors. You know where everything is, you know your preferences for your grocery shopping and for other needs and you are comfortable where you are currently.
• Remodeling doesn’t prevent a future sale – Many people will have some remodeling work done on their homes with the intent of putting it on the market. Even if you decide to remodel your home because you want to stay there, adding value to the property will only increase your selling position should you change your mind down the road. You can recapture a large percentage of that remodeling investment depending on what you have done.

The decision regarding whether to move or to remodel your home is not an easy one, and it’s a different situation for everyone who encounters it. Part of your decision process should include speaking to our Remodel Division professionals who can help you obtain a deeper understanding of what can be done, what it may cost and what type of value possible work could add to your home.

                   

                Want to take the first step with your design project? 

Call us at (205) 871-2066 or stop by one of our showroom to get started!