TAMPA. FL Each year millions of Americans move into the home of their dreams. As measure goes by families expand kids grow older and suddenly that home isn't quite so perfect anymore. Or perhaps you still like your home but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead?Both options involve a significant investment of time and money so it's important to act your measure and alter an informed decision. You'll also want to be sure to believe both the financial and the emotional sides of the equation. Let's begin by examining the financial factors involved. Moving: A good local real estate agent should be able to back up you with estimates on these numbers. How much will it cost to acquire a home that ordain cater your needs? How much could you sell your existing home for? Don't forget to calculate the agent's commission from this total. What will it be to act? According to real estate consultant and best-selling author of Remodel or act. Dan Fritschen a typical move costs 10% of the value of your home. How much will your property taxes increase as a result of the act?Remodeling: What projects do you want to have done and how much ordain they cost? An architect or general contractor will be able to assist you with these figures. How much ordain the improvements add to the value of your home also known as the "payback"? A local real estate agent can assist with this as well. If the decision about whether to renovate or move were purely a financial one then it would be quite easy to look at the numbers and come to the right conclusion. However there are also emotional factors that come into compete and they have a value as well. Let's believe some examples. Reasons you may want to move: If you relocate to a new neighborhood your children could attend superior schools. You would desire to decrease your commute or undergo exceed access to local amenities such as restaurants and shopping. You're not particularly fond of your current neighborhood. Your yard is too small and you cannot expand it. Reasons you may want to stay and remodel: You're happy with your location. It's convenient you love your neighbors and the schools are either excellent or are not a factor. You love the layout of your home. All you need is a little more lay and your home will be ameliorate. Of cover only you know what is truly important for your happiness so try to use these questions as a starting inform. act a list of the pros and cons of each scenario and leave it someplace accessible so that you and your spouse can add to it as you think of additional factors. You may also want to consider attending open houses and visiting new housing developments to see what is available and how your home compares. Once you've completed your list and your financial assessment it's time to draw some conclusions. Are the numbers and the emotional factors pointing you in a clear direction? If you're still feeling unsure and would desire some additional assistance you may be to construe Dan Fritschen's book. alter or Move or tour his website at www remodelormove com. Both contain a calculator that will assist you with the difficult task of quantifying the ramifications of your decision. In addition you can learn tips to assist you with the next step after you've determined what it will be. If you choose to remodel then you'll need to undergo a clear idea of what you want to accomplish before finalizing any details with the contractor or architect. One of the most expensive things you can do is change the project midstream. If you end to act then there are low-cost improvements you can alter to your existing home that will help it to sell more quickly. The kitchen and the bathrooms provide the biggest return on investment in this area. Whether you end to remodel or buy a new home it's important to ensure that you have proper financing in displace prior to moving send. If you decide to purchase a home a mortgage originator ordain help you to determine how much you can afford as come up as which loan package works best with your overall financial plan. In the case of remodeling you should meet with a mortgage professional before any construction takes displace. Otherwise you may severely limit the type of financing options available to you. Additional Resources:Remodel or Move?: Make the alter Decision by Dan FritschenLeah Ross is affiliated with AmeriFirst Home Mortgage a Licensed Mortgage Lender. express of Florida. Office of Financial Regulation. If you would like to receive a remove CD with tips from real estate consultant and best-selling author. Dan Fritschen please contact Leah Ross at 813-643-8430 or visit.
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