Is it time to move or remodel?

by Coldwell Banker Evergreen Olympic Realty, Inc. on August 30, 2011

There are many reasons homeowners make the decision to remodel their current residence.  Is now the time to “create” a house that meets your needs or to buy a new home that offers what you and your family or retired lifestyle needs?  It is smart to compare the numbers and to keep in mind that remodeling costs are not always recouped at the time of sale.  In fact, remodeling projects just to sell your home are not always wise investments.  But, remodeling is sometimes the better option if your goal is to improve your lifestyle and the house in which you already make a life.

If, however, financial benefits and recouping costs of a remodel are high priorities for you and your financial goals then you may want to consider selling and finding a house that better fits your needs.  Chart 2 shows the average cost of top remodel projects and the average costs recouped at time of sale.  As you can see costs recouped in a remodeled house are down significantly from a year ago.  This reflects that homebuyers continue to look for value which means they are searching for the competitively priced home, not necessarily the “perfect” remodeled home.

If your current home already meets your needs but you’d like to do some updating to improve your current home then remodeling may be the avenue for you.  If you are looking for greater changes in space and your needs of a home have changed any reason now is a great time to start house shopping.   There are great choices on the market and we are ready to assist you in finding the right space for your needs.

Recouping Remodeling Costs

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