These days a lot of homeowners are asking themselves this very question and you’re thinking, she’s is going to tell me “go” because she’s a Realtor (and she wants to sell my house). Actually, I would want to hear more and ask a lot of questions. Because I don’t just sell homes, I advise clients regarding their most important investment (present and future), their home. You must start with your long-range plan. Are you planning on living in the same area for a long period of time? What money have you already invested in your home? What do you owe on your home? How close are you to starting a family or retirement? What is the investment required to prep my home for sale? Next, you should consider your options. Ask your agent to look and see what’s out there. Look at new construction which could likely cost more than your current home, but does it save you on future maintenance investment of your older home and does the maintenance-free aspect give you more free time (that’s worth something)? Evaluating the life expectancy of my home’s systems and updates, and projecting the costs associated with them convinced me to buy a new construction property where the exterior maintenance is included. Knowing I would be in the area for 10 years or so, I calculated staying would cost me $80K-$90K for updates and renovations. That’s a lot of cash outlay, so the expense of a new home made sense for my family and our future cash flow (and will save me a lot of hassle meeting contractors, buying material making runs to Home Depot, etc.) down the road.
There’s so much to consider! I am always ready have discussions and help my clients for present and future decisions.