Are you considering a change in your home? If so, many homeowners end up facing two main choices. Will you simply remodel or are you going to build from scratch. Or perhaps you need both?
Whatever the situation may be, both remodeling or building from new come with their own set of pros and cons. Here are some tips to help you figure out when is the right time to remodel or build new.
Do You Love Your Neighborhood?
Are you living in a dream location? Many of us simply love where we live. We are friends with our neighbors, our children grow up together, our home is close to work, the schools are good…and the list goes on.
Though all of this sounds great, if you don’t love the home you live in, you might feel stuck, and the only way to get the ideal home you want is to add to it.
This is an obvious choice for building so that you can create the home you really want to live in for many years to come without leaving the neighborhood you love.
Are Home Values Rising in Your Neighborhood?
You should always take a look at home values in your neighborhood before you choose to build new or remodel.
If home values are increasing in your area, you probably want to stay where you are. In this case, it’s best to opt for a remodel.
You should also probably stay where you are if your home has not yet hit its peak value. Compare your home’s estimated value with the value of other homes around you. If you can improve the value of your home with a remodel, that is likely your best choice to get it done at a fraction of the cost.
Price Plays Its Part
Depending on what type of remodeling you want to do, the price could be significant. So, you have to determine if it’s worth it for you to invest in your current home, or put that money down on a new home.
The average cost of a kitchen remodel can range anywhere from $4000 to $40 000 and or more. In some cases, it might be better for your finances to build new instead of remodeling.
You can use the money you would put into a remodel into your down payment on a new home.
On the other hand, if you are ready to build, you absolutely have to ensure you get the best contractor for the job.
Why Should I Hire a Contractor?
Remodeling or even building from scratch might set your mind reeling with ideas, but the worst thing that can happen is realizing you are in over your head in the middle of the project. So what are the benefits of hiring a professional contractor for your home project?
- You will save time
- Your safety matters
- Save money by avoiding costly mistakes
When you hire a reputable, professional contractor, you know you’ll be getting quality workmanship. There’s nothing more important than getting the job done right, the first time. Hiring a professional contractor for your project gives you access to a wealth of knowledge, not to mention peace of mind.