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Want To Trade-in Your Home? |
By:
Andrew R. Huges |
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Want To Trade-in Your Home?
Andrew R. Huges
Every year, there are millions of Americans move into their dreams home.
As time goes by, families expand, children grow older, and suddenly that home is not quite so perfect anymore.
Or maybe you still do love your home at heart, but you really want a gourmet kitchen and a larger master bedroom.
Should you start looking for a new house in that case? Or would it be better to stay where you are and just remodel the place instead?
Both options involve a significant amount of investment in time and money, so it's important to take your time to study and make an informed decision.
You'll want to make sure that you consider both the financial and the emotional sides of the equation. Let's start by examining the financial factors involved first.
Moving: A good local real estate agent should be able to assist you with accurate estimates on these numbers: - How much does it cost to purchase a home that will meet your needs?
- How much can you sell your existing home for? Don't forget to less the agent's commission from the total transaction amount.
- What will it cost to move the house? According to real estate consultant and best-selling author of Remodel or Move, Dan Fritschen, a typical home move costs 10% of the total value of your home.
- How much will your property taxes increase due to the moving?
Remodeling: - What projects do you want to have and how much will they likely to cost? An architect or general contractor will be able to assist you with these.
- How much will the improvements add to the overall home value, also known as the "payback"? A local real estate agent can help with this too.
Reasons you may want to move home: - If you relocate to a new neighborhood, or your children could attend a superior school.
- You would like to reduce your commute time or have better access to local amenities, such as restaurants and entertainment.
- You're not really too fond of your current neighborhood.
- Your yard has become too small for your family, and you cannot expand it.
Profit more out of your house. See how you can achieve that at http://www.housemortgagerefinanceloan.com/ House Mortgage Loan. Expert advises and tips at http://www.housemortgagerefinanceloan.com/blog/) House Mortgage Loan.
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Article Source: http://www.statssheet.com/articles/article65599.html |
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