Home Remodel or Buy New?
With the housing market still a bit sluggish after the crisis we faced a few years ago, more and more people are looking to remodel their houses instead of going out and looking for their perfect dream homes out in the market.
Though the cost of buying a home is cheaper in today’s world and interest rates on mortgages are lower they’ve ever been before, that good news for buyers comes with some very bad news for sellers. In some cases, if you are selling your house in today’s market, it’s going to go for less than you originally paid for it. In addition, there are still quite a few houses on the market—more than 8,500 are for sale in the Tucson area alone—and that means buyers can afford to be more selective in their purchase and have the ability to talk the selling price even lower than the already low listing price.
So, do the math and figure it out for yourself. If your home is not the best out there, it could be a whole lot less stressful to just remodel what you already have instead of trying to look for all the desired upgrades in other houses on the market. With the remodel, too, you will be able to add additional value to your home. Choosing to remodel will allow you to get that beautiful new kitchen or that luxurious new bathroom sooner rather than later.