|Should I Remodel? Have you asked that?
By Dan Fritschen
Should I Remodel? is the first and maybe the most important question you should ask when considering remodeling. Remodeling isnt for everyone. Find out instantly if remodeling is the right choice for you. Our Should You Remodel? Calculator will ask you a series of questions about your likes, dislikes and goals and then provide you an answer.
|Improve my home and quality of life – and also have the home value increase|
|Mostly as an investment – improve my home so it will appreciate substantially|
|Live in my dream house regardless of cost|
Frequently Asked Questions:
Q: Should I Remodel?
A: Unless you love the process or are a real estate investor who knows you will make a profit from remodeling a home then Should I remodel is a good question to ask. It is not a simple answer and you should consider both the emotional and financial aspects of the decision. You should not only consider your answer to the Should I Remodel questions but others in your household as well who will be affected by the changes.
Q: Should I Remodel? What should I consider before deciding?
A: There are several important considerations. Both financial and emotional. Starting with the financial side of the decision. This does not mean that financial aspects of the should I remodel questions are more important but we had to start the answer with one of the two! Consider carefully the NET cost of remodeling versus the NET cost of doing nothing or moving or your other options. NET cost is the cost of what you pay to buy materials and have the work done minus the amount your home could appreciate due to a remodel. The NET cost of a move is the additional cost of a home, the extra costs of property taxes, etc. Subtract from this the additional amount the new home could appreciate versus the old. Finally when you ask yourself should I remodel doing nothing – not remodeling and not moving is an option. This often is the decision that is the best from a financial point of view – but you have to consider the emotional as well.
On the emotional side of the question Should I Remodel are issues such as the stress of making so many decisions, dealing with the interruptions to daily routine for many weeks and possibly months and having to work with strangers and let them into your on a daily basis. None of these are trivial and for many people they are deal breakers and if any or all of these make remodeling too stressful or uncomfortable than remodeling may not be for you.