Wednesday, August 5, 2015
You may be thinking of selling your Central Florida home because the floor plan no longer suits you or because the house itself is "tired." The kitchen and baths are outdated, you need new paint, and your flooring is screaming "1980!" Perhaps it needs something major, like new roofing or a new heating or cooling system. Here are some thoughts to ponder before making your decision.
- Do you love your neighborhood and your neighbors?
- Could you find a newer home in that neighborhood?
- Is the location "just right" for you in terms of travel to work, school, recreation, shopping, etc.?
- If lack of space is the problem, do you have room on your lot to build an addition?
- Would it be possible to remove a wall, or open up an attic or basement to provide more space?
- Are you willing to put up with the inconvenience of living in a house that is essentially "under construction?"
If you really like living where you live and there are no homes available that would suit you better, the next step is to call a contractor and find out what it would really cost to make the improvements you're dreaming about. Be sure to ask about the time and expense to get permits as well as the cost of the actual work. You may find that getting a construction loan and then re-financing would be more economical than buying a different home.
I have a list of reliable contractors who would be glad to meet with you and give you estimates so you can make your decision based on facts, not supposition. I can also refer you to lenders who know how to put this kind of transaction together.
On the other hand, you may find that a total renovation would not be cost effective. In that case, the best choice is to sell and purchase a new home. I'll be glad to meet with you and prepare a market analysis to show you the price your house would bring in today's market.
Home prices have been rising here in Central Florida, so even though the house may need work, you might be surprised. I'm happy to prepare a free market analysis for your home and assist in finding the perfect home to buy once you're is sold or close to closing!