Relocate Or Renovate? Which Is Right For You!

If your current home just is not doing it for you anymore, how should you decide whether to undertake a home improvement project, or relocate altogether? This is a huge decision primarily because you will be spending a considerable amount of money either way! Here are a few things to think about before making that important decision:

  • Selling is not as hard as it used to be! For a long time, people were hesitant to sell because of the poor real estate market conditions. However, today’s average home sale only takes a mere 2 months! Your particular area’s market may be recovered already, meaning it would be fairly easy for you to find someone to buy your home.
  • Improving your home has gotten more expensive. After the economy crashed, people stopped spending as much money on their home improvement projects. In order to make up for the slow in business, contractors were quick to charge less for their services. However, the economy has started to rebuild, and contractors are raising their prices.
  • Construction materials cost more than they have in the past. In a recent study conducted by the National Association of Home Builders, it was found that 81% of contactors are worried about the increasing prices of materials.
  • Home improvements typically cost less than purchasing a better home, but that is dependent on the type of project.
  • It is helpful to ask yourself whether your home improvement will increase the value of your home by the same amount, or more than the total cost of the project. If not, you may be losing money when it comes time to sell.

If you decide that a new home would best suit your needs, your next decision should be to contact Cary Amo! He is one of the most experienced real estate agents in Contra Costa County, and will guide you to real estate success!

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