Have you been debating if you’re going to move up to the apartment in the sky George Jefferson or are you going to make your crib exactly as you dreamed because you’re happy where you hang your “home” sign?
Hard questions for many of us to answer. What’s the right resolve? Do you go out and find the perfect home or do you create your “nest” to reflect your perfect world? Where should you start? Well, what I would suggest starting with making lists of the pros and cons of what’s the best route.
- Do you love your current home and wouldn’t trade it for the world?
- Have you been looking for an opportunity to change school districts or move to another neighborhood? Maybe a cul-de-sac location is your dream situation, or perhaps more land to stretch on or maybe a lower-maintenance yard?
- Will you be “over-building” for your neighborhood with a remodel?
- Will you be selling in the near future? Important question to ask if you’re trying to get return on your upgrade or remodel.
- Draw up the costs of that pool you have been dreaming of, or that must-have upgrade you have always wanted (example kitchen, or master bedroom, etc). Give some numbers to those dreams.
- Do you know the values of your neighborhood and most importantly, do you know what your actual competition looks like? And if you have your ‘target’ neighborhood, do you know what the going prices are there?
- Have you spoken to your lender or a listing agent to start putting some numbers and options to those “move-up” dreams?
Life is not always perfect and not all of us have the means for change, or desire. But, have you even seen what your options are? Have you done ANY investigative work? Why NOT? Why not see what the options are for your improved life quality and daily life function in your home. In many cases, with this market, if you’re unhappy with the area you’re in, it might make sense to move-up into your “perfect home.”
For folks where expensive and costly remodels may NOT make sense and are NOT the solution – example, you’re hoping to eventually be a “move-up” buyer or maybe a downsize in the near future and selling your home. Get a second opinion on your choices for upgrades, particularly if you do have intention to sell soon. You might want to modify upgrades and remodels that are appealing to a larger group of folks, and perhaps not drain the life savings into a kitchen remodel if you might be moving or could find that perfect kitchen in another home. Also think in terms of appraisals, what are homes selling for in your neighborhood and how to do they stack up against your home. Do your homework on your competition and be aware of pricing of that competition in the neighborhood.
Are you the Lexus amongst the lot of Tow Maters?
Are you at the top of the food chain with or without these upgrades already? You don’t want to be head and shoulders above the expectations of the neighborhood where an appraiser might be challenged to give the value you think you deserve. As when it comes to selling time, you might find yourself frustrated that you didn’t consult a REALTOR sooner on your decisions and the going values of your neighborhood.
One thing not addressed in the video by Steve O and Jennifer, are the folks that ARE perfect candidates for a remodel or home upgrade. Particularly if you love the area you are located. I know, some folks don’t mind the money invested if it means for their quality of life, enjoyment and for those that qualify for those comments – do it! So if you’re blessed to live in your “FOREVER” home and do NOT want to move – and you are the perfect candidate for a remodel – what are you waiting for? There are a ton of contractors out there that are chomping at the bit for more work. So why not start requesting some bids from a few contractors and create the space you deserve.
We’re here for your needs and what’s right for you, BUT if you’re NOT in the place you want to be, and you do have the means to move-up - you SHOULD check out your options out there. Stop waiting with your “what-ifs” and give us a call today and let us know if we can help you put your dream home on the radar. Whether you’re selling or buying? Give us an interview today (or interview us online – we stack up well against our competition).
So let us know whether you “Should You Stay or Should You Go Now?”
Steve Ostrom 916-308-2446 • Jennifer Klein 916-230-3880 • Desiree Pointer 916-259-3377
Coldwell Banker Sun Ridge • 4011 Woodcreek Oaks #110 Roseville 95747