Cost-Effective Decision Between Remodeling or Building

Selecting between remodeling your home and building a new house will require some consideration into the cost of the project. Although many factors contribute to the final expense, understanding the main considerations behind the cost will help in the decision making process.

Building Cost

The cost of building a new home is generally considered more expensive than remodeling a home because the entire project is being built from the beginning. It is necessary to first purchase the land and then pay for the cost of every area of the construction project.

Although the cost of building is generally higher, in certain situations it can be the more affordable solution.

Remodeling Cost

The price of remodeling your home will vary based on the size of the project and the current real estate taxes in the local area. A key downside of remodeling is that the location is fixed. If the area has a high property tax, remodeling might push that cost up, which can result in making the price of remodeling higher.

Since many factors are involved in determining the best decision for cost effective solutions, it is important to talk to Cary Amo about the best choice for the current location and building goals. Contact Sotheby’s International Realty to learn more about the local market conditions and the potential cost concerns.

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