Love It or Leave It

Vering HDR Final 391-395
Rob and I get asked frequently…should we remodel or move?  I really wish I had a way of predicting the future.  Will home prices continue to increase?  Will we have another “correction”?  Will your economic future continue to do well?  None of us can predict the future.  We can only do what makes us comfortable.  If you’re trying to decide to stay in your home or sell it, look at several variables…

web Final Houser Bath B 1346First…in your current home…take the home itself out of the equation.  Do you like the location?  Do you like your neighbors?  What about your yard?  If you answered yes, then now let us consider your home.  What exactly do you not like?  Is it the whole house?  Major items…like there are 7 of you in the family and only 3 bedrooms and 2 baths and you have a small lot and it prohibits expanding out and expanding up is cost prohibitive as well?  Then it just might be time to sell.

thumbnail_DM30469However, say all the above is true, but you can expand out.  Your family is in the neighborhood.  Your kids are young, you love the schools and just can’t imagine moving.  You really want to make this your home.  Then consider making this YOUR home.  Think about adding on a master suite with a bathroom.  This way, the kids can have the other 3 bedrooms and 2 baths and you can have your oasis.

Or another scenario…it is the KITCHEN!  You just can’t cook another minute in that kitchen.  Dyer KitchenRealistically, how long do you want to stay in your home?  5 years or less?  Then you need to update it to sell.  That’s it.  Don’t put a lot of money into your home for someone else.  Find a realtor you’d like to work with, have them come into your home to give you honest feedback on what will sell it for top dollar and quickly.  Do those renovations and those only.

However…this is your happily ever after home and you don’t ever plan on selling.  Then do what you want and don’t worry about resale!  Make it your home and enjoy it!  The same goes for the bathrooms or whatever other rooms.

There are some renovations that do bring dollar for dollar or even more than the initial investment.  But those aren’t the ones that are so much “fun”…those aren’t the ones that your friends ohhh and ahhh over!  They may be the ones that the guys get into the technical aspects…heat gain co-efficients and stuff like that…

Bottom line…do you want to put the money in your home and stay there for a while?  If so, then do what you want and don’t worry about the next person that just might buy your home.  In another 10 years what you’ve done today is going to be out of style anyways…

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2 Comments Add yours

  1. Rule says:

    I like the idea of living in the moment with your renovations! Obviously always be conscious of cost/ benefit analysis, and mindful of lasting value… but if you want it, go for it!

  2. Hey There. I found your blog using msn. This is a very well written article.
    I’ll make sure to bookmark it and return to read more of your useful information. Thanks for the post. I’ll definitely comeback.

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