If you’re ready for a housing change, is it better to buy a different house or remodel what you already own?
A quick evaluation of your needs, desires, budget and location can help determine which option is right for you.
Think about buying another home, or building new construction, if:
- Your ideal neighborhood has available houses in your budget.
- A move would make your commute to work or school easier.
- The new house better suits your lifestyle.
- The cost of remodeling your current home is prohibitive, or your house can never become your dream home because of construction or location constraints.
Even if your situation fits one of the points above, remember that the Northern Colorado housing market is fairly tight right now, timing a double closing can be nerve-wracking, and new construction has a bigger environmental impact than buying a previously owned home or remodeling responsibly.
Consider remodeling your home if you:
- Love you neighborhood.
- Have the finances to change the things you don’t like about your home.
- Don’t want to spend money on closing costs and moving expenses.
- Have good equity and wish to further invest in your home.
- Know that the property values in your neighborhood are improving and you want to avoid the headache of preparing, listing and showing your property for sale.
Speaking of housing values, median home prices continue to rise across Northern Colorado. Larimer County was in the top ten U.S. markets last year for home appreciation rates, which rose more than 13 percent.
Forecast – Larimer County home prices expected to double in next ten years
If you plan to remodel or prepare your home to sell, it’s a good idea to review Remodeling Magazine’s 2016 Cost vs. Value Report to better understand which remodeling projects give you the best return on your investment.
If you still have questions, our experienced design-build team is here for you. Contact us for a free consultation.
