Some homeowners are torn between remodeling or moving. Some of the questions you may want to think about are important in order to make a sound and honest decision. If your present home has features that you are not really happy with, but could easily be transformed into the home of your dreams, it may be a better idea to remodel than move. There are a couple of things you can do to help you make the decision. Here are the most popular homeowner questions about deciding whether to remodel or move:
1. How much would it cost to remodel? This question requires some research on your part. You can get estimates in different ways. One way is to get an estimate on the cost per square foot. Another way of getting an estimate is from a contractor or architect. They are trained to know the cost of supplies and determine the man hours required to complete a project. Finally, you can use a Remodel or Move Calculator. These are found online and are extremely useful in helping you with an estimate.
2. What can I do if the project costs more than my estimate? First understand that an estimate is not an exact science. It is simply an idea of what a project may cost. Make sure you get several estimates and that the contractor understands exactly what you want from him or her. If you get other estimates and feel the estimate is too high for you, consider revising your project. Also, you must consider the quality of the materials. To save money, you may want to invest in economy or standard materials.
3. Should I stay in the house while it’s being remodeled? This is a personal choice but you may also want to ask your contractor what s/he recommends and consider what area of your home will be under construction in order to make this decision.
4. How long will the project take? Your contractor should be able to give you an estimate of how long the project will take however, there are situations which can arise and throw the timing off.
5. Can you trust the contractors and their crews? This should be considered before hiring a contractor. If you feel you cannot trust a contractor, do not hire him for an internal job. This contractor may be more suited for a smaller project or none at all.
6. Where can I find a contractor? A good place to start would be referrals from friends and family. Then if you still haven’t found a good contractor, you can do a search online for the specific type of contractor you need.
7. Is remodeling risky? There is risk in all major decisions that you make. This one is no more or less risky than any other one. If you plan your project well and have a reliable contractor, the project should go as scheduled.
8. How long will it take to sell my house? This depends on many different aspects of selling: how many buyers are looking in your area, the price you are asking and the market in your area. You should consult your realtor, watch other homes in your neighborhood to see how long they are on the market and do not get too anxious.
9. How do I pick a real estate agent? Check with neighbors, friends and family for recommendations and then check each recommendations references. It is important to find a realtor you feel is going to hold your best interests in mind and do a good job at trying to sell your home.
10. Which offer should I accept for my house? This decision should be made carefully with other aspects in mind. Are there other perspective buyers, is the price considerably less than what I am asking and is the buyer able to get the financing? These are some questions to keep in mind, but consult your realtor as well. Just remember, the realtor gets paid when you sell.