New Construction or Remodel?

REMODEL VS. NEW CONSTRUCTION
When deciding whether to remodel your existing home or build a custom home from the ground up, three key factors need to be considered.

Let's start with Dollars and Cents:
1) Cost vs. Benefit
Will the remodeled areas increase the value of the house?
Will I be able to recoup my investment in the remodeled areas if I decide to sell the house?
Financing options. Can you qualify for a Home Equity line of Credit? New Home Loan? How much cash are you going to have to put in the project? All these questions need to be answered as you evaluate your project.

The second key consideration is as they say in Real Estate

2) Location, location, location

Are you tied to your current location? Does a specific school district keep you planted in place? Do you have a great lake lot? If the answer is yes, then your home is a candidate for remodeling. If not, getting exactly what you want can be achieved through building a custom home.

Here are two (2) remodel examples:


The Puryear's lived on a farm that had been in the family for 100 years and were not moving. They wanted an additional bedroom, playroom space for their expanding family and large screened in porch as well as a Cape Cod facade. We were able to deliver on their wishes through a remodel..

The Waller's bought a 70's rancher in an extremely popular neighborhood. They wanted to enlarge the living quarters, add an office , a three car garage and an outdoor living space for entertaining. We achieved their needs through a remodel. They lived in the house during the entire construction process.

3) The third consideration addresses the house itself: Live-Ability!

How does your house flow and/or live? Are there changes that will make your house work better for your lifestyle? What specifically do you need or want? Like a new kitchen, additional bedroom and bath or an outdoor living space for entertaining?

So, when evaluating whether to remodel or build a new home you need to take into account the cost/benefit of each, the location of your house and the flow and function of your house.

Hope this helps!

Category:

Education

Tags:

• new construction
• builder
• remodel
• hughes-edwards
• location
• cost per square foot