Sell Or Stay And Renovate?
The dilemma posed by the popular HGTV show Love It or List It is one that many homeowners face as their changing needs make their current home less than ideal for their current situation.
Right now, the real estate market is good – and strong home sales (and price points) bring many homeowners to the question of what will work best for their lifestyle – selling their current home and buying a new one – or renovation of their current home.
If you love your neighborhood, but your needs have changed renovation can be a good solution, assuming that you love your neighborhood and your home lends itself to a remodel that will work for you and your lifestyle. Some things to bear in mind when considering a reno project are:
- Be aware of neighborhood, city and county restrictions. Your project will need to comply with any restrictions, including setbacks and building heights, required by local building authorities and neighborhood CC&Rs.
- How old is your home? A renovation of an older home might trigger a few costly upgrades to bring your home up to current building standards. That being said, however, upgrades on windows, doors, appliances, and heating/AC systems can bring you a more energy efficient home which can translate to savings on your utility bills.
- Take a look around and see what your neighbors are doing. You probably won’t want to renovate beyond what the market will bear. If your neighbors aren’t going large, take heed.
- Renovation can be difficult. This is a big one! If you and your family aren’t up for a few weeks (or more…) of inconvenience and mess, selling and purchasing a new home might be in your best interest.
If you think remodeling your home might be biting off more than you want to chew, it just might be time to put your place up for sale and find your dream home. You can do some window-shopping on Eichler For Sale – there are some pretty nice Eichlers on the market right now! I’d welcome the opportunity to discuss your options with you. Please give me a call at 415-EICHLER or fill out our Contact Page and I’ll give you a call. And, BTW, if your dream home doesn’t happen to be an Eichler, I can still help!