In today’s society we tend to do away with what we currently have to make room for something bigger, better, and newer. This is even evident in our homes, and not only just the things in our homes, but our homes themselves. I’ve known plenty of people who would rather just move to a newer, bigger house or rebuild another dram house simply because they have become tired of their current home. Gone are the days when a family may stay in one residence for more than 20 years; we like change and I have noticed a trend among people that I know, that after about 6-7 years in a home, they begin talking about moving. When asked why a move is in order, the same responses usually apply, either they are bored with the current layout, want more room, want less room, need a bigger yard, need less yard to take care of, or plainly feel it would be easier to just move than to make updates to their current home.
When deciding whether to move or remodel a few things should be considered, of course. Maybe your yard is too much to take care of at this point in your life? Perhaps your family has grown over the past few years and more yard for the kids and 4 dogs is a must. Maybe you got a new job and the commute is more than desirable. Those are all very common reasons to need to move, but first consider your life. If you love your commute, your neighbors, your backyard, and your kid’s school, then think about how difficult all these are to replace.
Of course the financial burden of moving or planning a remodel is both enough to cause a strain in any household. However, before packing up to move, talk to a Realtor® and a lender to compare cost and price of the market value of your home, the cost of the type of new home you want, and financing options.
While adding square footage or remodeling a kitchen or bathroom are the best choices for a remodel, you want to be sure not to overdo it for your neighborhood or you run the risk of not getting enough return on your investment when it is time to put the house up for sale.
Likewise, if moving is the final choice new mortgage payments could be lower because of low mortgage rates and low home prices. Also, don’t forget to check out the local property taxes and calculate the amount of money you’ll need to spend to get the next house you really want.
Just like with any project you undertake in life, do your research first before making a rash decision that you will later regret.
Emily Schmidt is a Sibcy Cline REALTOR® from Beavercreek, Ohio. She has helped clients in both the Dayton and Cincinnati areas find their dream home and sell their current property. Emily can be reached by phone at 937-409-6337 or by email at [email protected]
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