In this market it makes sense to consider Remodel or Renovation over buying or building a New Home. Of course, who you are getting your information from will greatly influence your final decision. This week we cover 4 Reasons to Remodel instead of Buying or Building.
CO$T$ Point to Remodel
Certain Contractors and nearly every Real Estate Agent will tell you to Build or Buy. And new homes can offer certain perks that a remodel or renovation wont. However, just starting by comparing up-front costs and looking at details like financing and equity, it quickly becomes clear where you should put your money.
In fact, if you look at the advice offered by the different types of lending institutions, the numbers make a lot of sense. Start by comparing: $150 per square foot for new, $120 per for used, & $100 per for a reno, you then need to consider what your long-term plans & goals really are.
Equity to Increase the Value
Simply put, you can use your home’s equity to increase it’s value. Proper planning and good choices in how you remodel or renovate your home means greater equity. If you love your home and/or where you live, if you are ready to build on what you already have: Equity (Equity ∩ Renovation) is a brilliant formula that results in happy homes with greater values.
No Need to Relocate
If you love your home and it’s a matter of needing an upgrade for your family and/or lifestyle, not having to build or buy means not having to move. With the right team you can bring your home into the new century in ways that will increase joy and equity. With practical, careful planning with your Design & Remodel team your project can be done in stages or all at once.
Original Charm = Design Accents
As you take inventory of the physical aspects of your existing home that give it it’s charm, you and your Designer might find materials that will allow you to preserve some of that charm. From furniture to cabinetry to faucets & fixtures, repurposing is a brilliant way to add accents or features that can complete a redesign. When it comes to your remodeled kitchen, repurposed lumber is perfect for Kitchen Islands and other aspects of the design. There’s no need to waste quality materials as long as they match or can be touched up and made to match the new design.
Written by Todd Zimmerman
Producer of the John Webbccast