Should You Remodel or Trade Up?

Real estate agents often hear from clients who are interested in home buying because they “need more space” or they want more “modern” kitchens. There may be other reasons their current homes don’t fully meet their needs: a new job, a new relationship, a new baby and so on.

But buying a new home is never the only solution. In fact, in some cases it may be better to remodel or renovate the home you have. Here are some things to consider when deciding whether to remodel, renovate or buy:

Buying means selling, too

Often, the desire for more space leads the homeowner into a simultaneous buy/sell situation. Given that lending standards are still tighter than they were a decade ago, it’s nearly impossible for most people to buy a home before first selling their current home. That means being in limbo — potentially homeless — until they find a new home. This brings up a great deal of uncertainty.

Buying and selling at the same time is stressful. For starters, in many parts of the country, the inventory of available homes is limited. Yes, you can sell your home, but with inventories so tight, where will you go? Few people want to take that gamble. This is keeping many people, and potential inventory, on the sidelines today.

Buying and selling also comes with a lot of costs. The seller pays the real estate agent’s commission, for instance, along with closing costs on the buy side, plus moving expenses and more. Though it might not be music to a real estate agent’s ears, your money may be better spent on a remodel or renovation.

Credit is easier to obtain

With property values up, homeowners in some parts of the country are realizing an increase in equity of 10 percent to 20 percent over just a year ago. If you suspect that your home equity has increased, call your local bank or mortgage professional or do some research online. You might be surprised to learn that a bank will lend you money — more than you might imagine — against the equity in your home. Also, a home equity line of credit (HELOC) is considered a mortgage, therefore, the interest part of the loan is tax deductible.

Turn to pros for help

You likely have lots of ideas about what you want to do to your home but are unsure about where to begin or how realistic the changes are. And it’s likely you have no idea how much proposed changes will cost. Don’t assume anything. Go and get the information. If you don’t know a good, local contractor or how to get the information you need, ask for referrals from friends and family. Go online and ask your social media circles for recommendations; explore contractor reviews online.

You don’t have to think big

Making your home a better place to live does not necessarily mean doubling its size or adding an extra bedroom. Sometimes, small changes can make a big difference: a change in the color of the kitchen cabinets, painting the home or changing the flooring. These relatively minor cosmetic fixes can add a lot of value to your home as well as to your life. Don’t assume you need to go crazy to make a real impact.

Prepare yourself for stress, change

Buying and selling a home at the same time is a big deal. But managing a home renovation can also be stressful. Think hard about your options, do the math and consider making changes to your current home. You may realize that remodeling is something you’re comfortable with, and it could be a better option than selling and buying.

Above all, don’t assume it’s time to sell just because your home isn’t “perfect” for you anymore. With a little work, it could be just what you need after all.

Related:

Brendon DeSimone is a Realtor, a nationally recognized real estate expert and author of the book “Next Generation Real Estate.” His practical advice is regularly sought out by print, online and television media outlets including FOX News, CNBC, USA Today, Bloomberg, FOX Business and Forbes. An active investor himself, Brendon owns real estate around the U.S. and abroad and is licensed to sell in California and New York. Consumers often call on Brendon for advice and to help them find a real estate agent. You can follow him on Twitter or Google Plus.

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Real Estate Playa Del Carmen

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How “Uncle Sam’s Big Ditch” inspired the real estate industry in 1914

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One of the premiere events for Americans a century ago was the long-awaited opening of the Panama Canal. Initially started by France in 1881, the United States took control of the project in May 1904, shortly after Panama declared its independence from Columbia. The Canal was completed ten years later, and was officially opened to [...]

Real Estate Playa Del Carmen

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Propiedad en venta Playa del Carmen : El lugar óptimo para pasar vacaciones de vacaciones y la jubilación

Playa del Carmen se encuentra en los balnearios más elegantes del planeta y requiere por debajo de una hora para llegar a la terminal del aeropuerto y bien establecida de la ciudad resort. Se encuentra justo en el triángulo de Cancún Tulum- Cozumel , haciendo un acceso oportuno a los propietarios de bienes raíces para hacer turismo , ir de compras , viajar y otras actividades. Cuando usted está interesado en alquilar o invertir en una propiedad para vacaciones o para otros fines , lo que realmente se requiere que usted debe reconocer todas las ventajas y desventajas del lugar. Los inmuebles de Playa del Carmen es a menudo un lugar que vio sólo una ligera desaceleración en el interior de la reciente recesión. Tienen precio brillante para las personas cualquiera que quiera buena las instalaciones y listo para moverse al instante para las mejores ofertas . Propiedad disponible Playa del Carmen cuenta con numerosas opciones para que pueda elegir entre la compra de un apartamento para pagar sus vacaciones con la familia. No es fácil de alquilar una propiedad o simplemente comprarlo para poder venir cuando quiera. Playa del Carmen venta de casas dispone de apartamentos con las comodidades que cualquier persona puede desear. Si usted está planeando su retiro Playa Del Carmen , tendrá que deber a su agente para encontrar un apartamento que es ideal para usted. El precio de alquiler de Playa Del Carmen son increíblemente comptitive como puede rivalizar con las propiedades de los Estados Unidos y Europa. Sin embargo, si usted desea comprar una propiedad de vacaciones, entonces usted tiene que considerar en términos absolutos , excepto de términos relativos. Los precios de las propiedades disponibles para la venta en Playa Del Carmen siempre han sido excepcionalmente elástico. Incluso durante algún tiempo de la recesión, cuando todo el mundo en los Estados Unidos estaban teniendo problemas en la venta de sus propiedades , los precios de Playa del Carmen se mantuvieron estables . Como se mencionó anteriormente , Playa del Carmen ofrece mejores instalaciones dentro de sus condominios, hoteles y apartamentos. Playa Del Carmen también ofrece algunos hermosos frente a la playa donde la gente puede nadar , tomar un baño de sol y jugar al voleibol . Otras actividades de entretenimiento incluyen snorkeling y el buceo en aguas profundas. Su zona de la Quinta Avenida es , sin duda, un lugar para una persona coherente para pasar el rato después de comprar una casa dentro de la ciudad . Playa del Carmen es también el suministro de la comodidad habitual de los turistas , que incluyen dos centros comerciales con primera clase mexicana y tiendas internacionales y grandes teatros de pantalla. La ciudad es absolutamente pequeña que la media sólo se tarda 20 minutos para cruzar toda la ciudad para que todo lo que se debe conseguir es de 10 minutos para llegar a estos centros comerciales y 5 minutos más para llegar a la playa . También hay numerosas zonas de juego para los niños, fuentes, bancos , parques públicos con conexión a internet wi- fi se puede comprar . Pocos parques han celebración de eventos , talleres , eventos culturales, los clubes de ajedrez y sesiones de artesanía. Propiedades en Playa del Carmen es realmente el lugar ideal para las personas que están organizando su jubilación y que buscan un lugar para pasar sus vacaciones con las mejores instalaciones absolutos disponibles .

What We’re Reading: Jan. 25 – Jan. 31

Netflix about to raise prices? McDonalds & the neighborhood, and new scams to watch out for

Is Netflix going to raise its price? It’s been a few years since the last price change so people are beginning to wonder. Some speculate that Netflix will move to a tiered price structure to help stave off complaints. It’s all part of consumer marketing. The Atlantic has an article this week explaining how it might work.

McDonald’s made the news this week when a local New York branch brought in the police to kick out some elderly patrons who were camping out for most of the day. The dispute was settled and things seem to have quieted down, but why did this particular McDonald’s become the neighborhood’s de facto senior center? The New York Times investigated and discovered it had more to do with neighborhood dynamics, restaurant layout, and convenience than the great coffee and food.

The US 1 dollar bill hasn’t had a refresh in over 50 years. Every other bill has seen lots of changes recently. Why not old George? Partly because the low denomination currency isn’t a frequent target of counterfeiting. And also because the vending machine industry doesn’t want it to happen.

Had a call on your mobile recently that rings once and then hangs up? Don’t be so quick to call that number back to see who it is. It could be a scam that will cost you.

Speaking of scams, most credit card users know that it’s important to check monthly statements for suspicious charges. Obviously, large sums that you never charged should be reported and generally can be removed. But how often do you just skip over smaller charges? If you see $9.84 from a somewhat vague company, look closer.

Hate peeling potatoes? Have you tried the water-bath technique? A colleague found a video on Facebook that demos.

Dave

Senior Information Specialist

Real Estate Playa Del Carmen

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