Remodel or Sell? 2017 Tucson Housing Market Considerations
Dreaming of an upgrade? You’re not alone. Folks around here love to upgrade their homes. And lately, homeowners have been doing just that!
In 2016, homeowners spent $361 billion on home improvements, maintenance, and repairs according to a recent report from the Joint Center for Housing Studies of Harvard University. That’s more than ever before!
But is remodeling the right decision for your Tucson home or is it time for a move? To help you make your decision, consider these three key questions:
Do you love your current neighborhood?
A great design and remodel company can change just about everything about your home. Want your kitchen located on the other side of the house? You could do that. Interested in expanding your square footage with an addition? That’s doable too. You can update the landscape, completely re-imagine the bathrooms, and knock out walls to create a great room.
The one thing a design and remodel company can’t do is change your neighborhood.
Do you have great neighbors? There’s no guarantee you’ll find that elsewhere. Do your kids have friends nearby? Is your current commute short and sweet, just the way you like it? If so, moving might not be your best bet.
Is finding another home reasonable?
It’s no secret the Tucson housing market is booming. Major business like Caterpillar and Raytheon relocated hundreds of jobs here.
The increased housing demand has caused a housing shortage. Homes in popular Tucson neighborhoods like Ranch Sins Vacas, Rancho Vistoso, and Sam Hughes are selling within days of being listed. Often these homes are being sold for over asking price.
While selling your home might not be an issue, finding another home to buy could be. Is finding another home, one that meets all the specifications you’re dreaming about, reasonable?
Can a remodel give you what you want?
Take an honest look around your home. What is it your want? What are the top priorities for your home? These might include:
- Updating Your Master Bathroom
- Expanding Your Common Space
- Opening up Your Floor Plan with a Luxurious Kitchen
- Creating a Seamless Flow Between the Indoors and Outdoors
- Making Room for Entertaining
In most cases, what you want can be accomplished within your home’s existing footprint. It’s not uncommon for older homes to have wasted spaces, underutilized rooms or oddly positioned walls.
All of these and more can be updated to meet your needs. However, there are some things no remodeling company can give you. For example, if you don’t have a view, no number windows can reposition the foothills beyond your kitchen window.
As you weigh the pros and cons of remodeling verse selling, one of the best steps is to talk to a designer. They can give you an idea of your options and how long it will reasonably take.