Remodeling Versus Going Blind for a New Home
Are you not happy with your existing home and wondering if you should sell and buy a new home? Although it’s true, a new home will come with everything brand new and the latest features. However, with the current housing market in a value bubble, you will be paying premium for everything in that new home. Worse, if you finance it with a loan you will be paying interest on all that “newness” for probably 30 years, as well as paying taxes on it every year with your property taxes. But why purchase a new home when you could have a “new” home again simply by remodeling the home you already have. New floors, walls, design, partitions, and features are all easily possible and quite doable.
As well as wanting to be pleased with the home you live in, you should consider the neighborhood. If you like your current neighborhood, you will be giving that up for a blind choice with a new home. That’s because most new units are in unestablished tract home zones. Whom your next neighbor will be is a complete unknown.
Do you want to know the best thing about a remodel? Once you are done with the project you’re not carrying a residual payment in your mortgage or property taxes for the next three decades. Your existing mortgage is still the same or paid in full, and your property taxes stay the same at your original purchase price. When you add up all the math involved, it becomes pretty clear that going down the remodel path versus buying blind with a new home is a more clever decision. If you’re interested in a home remodel, contact the professionals at Carolina Remodeling Services today!