In today’s real estate market, buying a new home seems like a near impossibility. Offers are being made almost as quickly as listings are going up, and buyers looking for budget-friendly options are being left in the dust by cash buyers who can offer over and above the asking price.
Situations like these beg the question: is buying a home even a good option right now?
It’s not always easy to choose between moving to a new home or remodeling your current one. If you’re feeling confused about which direction to take, Compass Window and Door is here to help!
Our elite team of home remodeling experts has three reasons why that window replacement, siding installation, or new entry door you’ve been debating is a better option than throwing your hat into the present-day real estate market.
Remodeling is Often Less Expensive than Buying a New Home
Sure, many current homeowners are excited by the profit possibilities that can come with selling their homes. The problem is; however, they often forget about all of the additional costs that come with selling your property.
Closing costs, seller concessions, and realtor fees aside, there are plenty of other expenses that come with putting your house on the market, such as:
Home Preparations: Would installing a new entry door increase the curb appeal of your property? Do you need to freshen up your interior paint? There are tons of things homeowners are expected to do before putting their house on the market—all of which cost a significant amount of money.
Buyer Demands: So, you’ve received an offer, but they’re requesting you complete a window replacement before the deal can be finalized. Situations like this are not unusual and add even more money to the final selling tally.
Moving Costs: You’re going to have to relocate at some point if you’re planning on selling. That means buying packing materials and hiring movers to help you get the job done.
Buying a New Home: Don’t forget that you have to find somewhere else to go if you're leaving your current property.Given the previously-mentioned real estate market, it’s unlikely you’ll find something you like without spending a pretty penny.
You Might Have to Remodel Anyway
Given how quickly houses are entering and leaving the market, it seems unlikely you’re going to find the house of your dreams. With that in mind, you should plan on having to spend money remodeling your new home. Whether it’s a new siding installation from Compass Window and Door or kitchen renovations, there’s bound to be some work you’ll need to do.
Do You Really Want to Leave Your Neighborhood?
If you feel like you’re running out of space or need to update the overall feel of your home, it’s essential to ask yourself whether there is a simpler solution than uprooting your family and moving to a new neighborhood.
While you can easily add on to your property or update your bathroom, you can’t replace neighborhood friends your family has made or the safety of being in a community you love.
It’s also worth considering that if you move to a new area, you might find yourself in a new school district, causing your little ones to leave their friends and teachers behind.
Consider an Exterior Remodel Instead of a Relocation
At Compass Window and Door, our elite team of exterior remodelers believes in helping homeowners create spaces that will work best for their family’s unique set of wants and needs.
Before you jump into the crazy real estate world, why not consider whether a simple remodeling project, like a new window replacement or siding installation, is a better option than relocating to another home?
If you’d like to learn more, give us a call or fill out our online form to set up a free consultation with our experienced home remodeling experts.
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