Renovate or Relocate?

3 quick questions: 

Many people ask me what they should do. This is a great way to work through the best choices for you and your family. All it takes is a little research and some comparisons and you can make a great decision.

What needs to be done to remodel and what is the cost?

Make a list of what you need changed in your current home. Price out how much this would cost to be done by a contractor or yourself. Add this total up and now you know how much it will cost to make the changes. Next we will look at buying a home already finished. 

What would a house with all those changes cost to buy right now?

Start looking for homes that are already remodeled and have the features you want. How much do these homes cost? Compare these two prices, the remodeled total and the cost of the new house. 

Weigh the costs between the two and you have your answer.

Also consider the extra costs involved in selling your home and what the new home purchase would take. You may also lose a lower rate in buying a new home depending on the type of financing you use for either choice.

It is my job to help you figure this out. Please feel free to give us a call and we can help with any of your questions. 

- Lou Browning

 

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What Our Clients Say…

“Summit South Mortgage is an extremely versatile mortgage company. The company has financed my primary residence, second home, farm, acreage tract and underwrote a commercial loan for a hospital I own. This versatility combined with exceptional service is why I would recommend Summit South Mortgage.”
Dr. Robert Devrnja, ERX Group,