When your family begins to outgrow your house, it’s only natural to think of relocating to a bigger place. But, don’t give up on your home yet as moving isn’t always the best solution. In many cases, remodeling your property can make more sense.
Most home remodeling contractors, including Design Build Remodeling Group, would say that renovating your space is the smart move because…
First Love Never Dies
Sure, your situation might have changed over the years, but you fell in love with your home for a reason. Don’t let go of it easily just because its square footage is no longer cutting it. Whether you do an extension or addition, there’s always a way to increase its floor space and accommodate more people. If you have unused or underutilized areas, an experienced remodeler can improve them to give you more finished rooms.
Moving Is Taxing
Homeowners and new addition contractors alike would say that moving is one of the most stressful things you could ever do. Sorting out your things to know what you should and shouldn’t keep would require a lot of your time and energy. A professional mover can facilitate the logistics, but adjusting to your new environment is no joke.
Furthermore, moving expenses don’t end with the actual transportation of your items. They include the costs of selling your current home, buying new stuff and potentially paying for higher insurance premiums and property taxes.
You can avoid all of the stress by just remodeling your home. Renovating one or two rooms could suffice to make your home feel new without the inconveniences of moving.
Homes Don’t Sell Like Hot Pancakes
Even if you have the means to shoulder the costs of moving, selling your current home doesn’t guarantee a quick sale. This is especially true if its value is greater than those of its neighboring properties. It might be harder to sell your property if your previous home improvements have increased its value by over 10% above the neighborhood’s average. It’s comforting to know that a bathroom or kitchen remodeling project can increase your home’s value, but costlier properties tend to attract fewer buyers.
A New Mortgage Wastes Your Paid Interest
If you’ve already paid half of your current mortgage, don’t pay it off by getting a new one and moving at the same time. With mortgage amortization, most of your early payments go toward the interest. This means you usually only begin trimming the principal balance in the middle of the term. If snagging a lower interest rate is your h2est motivation for selling, apply for refinancing instead to get a fresh loan without having to move.
Go to Design Build Remodeling Group to turn the home you’ve always loved into its prettier and more functional version. Call us at (443) 230-4070 today to schedule your in-home consultation in Baltimore, MD, and talk about your renovation or addition needs.
