Should You Add On, Or Move On? - PowerPoint PPT Presentation

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Should You Add On, Or Move On?

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Once you start outgrowing your current abode, it can be tough to know whether adding another story – or at least a couple more rooms – would make more financial sense than moving to a larger property. And sometimes it’s more about how much you love your existing home, and whether moving elsewhere will leave you unhappy and yearning to return. – PowerPoint PPT presentation

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Title: Should You Add On, Or Move On?


1
Should You Add On, Or Move On?
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  • Once you start outgrowing your current abode, it
    can be tough to know whether adding another story
    or at least a couple more rooms would make
    more financial sense than moving to a larger
    property. And sometimes its more about how much
    you love your existing home, and whether moving
    elsewhere will leave you unhappy and yearning to
    return.
  • If your home no longer has space for your growing
    family, should you add on, or move on? Lets take
    a closer look at the dilemma

3
  • Would you be better off financially if you added
    on to your current home?
  • If you like your neighborhood and dont already
    have the biggest or most expensive property in
    it, then its safe to say that youd probably be
    better off adding on to your home, then buying a
    new property elsewhere.
  • But why?
  • While homeowners who remodel and invest in an
    addition, dont always recoup their entire
    investment, they can usually be expected to make
    a good percentage of it back (typically between
    60 and 80), as their remodeling boosts the value
    of their home.

4
  • Do you love your neighborhood and existing home?
  • If you do, then moving elsewhere could be a real
    gamble your kids could end up going to a school
    they dont like, while you may have less access
    to local amenities, or not feel as safe. Loving
    your neighborhood and being settled and happy
    right where you are, could make adding rooms on
    to your home, the more realistic and advantageous
    choice.
  • What should you do before making the decision to
    add on?
  • You should carry out an internet search of homes
    for sale in your area and see if the asking price
    varies significantly between 4 and 5-bedroom
    homes. Check to see whether adding a new master
    bathroom or another useful room could help you
    sell your home quicker in comparison to what
    exists on the current market.

5
  • When should you move on?
  • If you already have one of the largest and nicest
    homes in your neighborhood, it might make more
    sense to look at moving, as few people will be
    willing to pay the original price plus the cost
    of the home improvements youve carried out.
  • Can a realtor help you decide?
  • Someone who knows the local market inside out is
    a good person to seek advice from, and a realtor
    can help you determine your potential rate of
    return, to make the decision to add on, or move
    on, a little clearer, if not easier.

6
  • Talk to your local construction company
  • Its important to remember that while you may
    wish to add on to your home, there may be health,
    zoning or wetland regulations that preclude you
    from doing so, or at the very least, limit your
    opportunities. A reputable local construction
    company will be able to help you with this
    aspect, so talk to them at the earliest, before
    you make any plans.
  • The decision to add on to your home or move to
    another property, may not always be an easy one,
    but talking to the right people before you make
    any decisions, can help your choices seem a
    little more straightforward.

7
  • RZ Construction Group Inc is a fully inclusive
    construction contractor in Queens NY. From
    initial design to final clean up, our results
    speak for themselves. We are fully licensed,
    insured, and bonded to provide both commercial
    and residential construction services to
    customers in Astoria and the surrounding area.
    Proud to serve New York State for 25 years. No
    job is too small nor too big. If you are looking
    for a general contractor in Astoria NY or want to
    know more about our wide range of professional
    but affordable construction and repair services,
    reach out to us at (718) 938-9887.
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