Ready to Trade-In Your Home? Perhaps You Should Remodel Instead!
Each year, millions of Americans
move into the home of their dreams.
As time goes by, families expand, kids grow up and suddenly that home isn’t quite so perfect anymore. Perhaps you really want a gourmet kitchen or a larger master bedroom. Should you start looking for a new house? Or would it be better to remodel?
Both options involve a significant investment of time and money, so it’s important to take your time and make an informed decision. You’ll also want to be sure to consider both the financial and the emotional sides of the equation.
Of course only you know what is truly important for your happiness,
so try this as a starting point. Create a list of the pros and cons of each scenario and leave it someplace accessible so that you or your spouse can add to it. Attending open houses and visiting new housing developments is great for ideas.
Once you’ve completed your list and your financial assessment, it’s time to draw some conclusions. If you’re still feeling unsure, you may want to read Dan Fritschen’s book, Remodel or Move, or visit his website at www.remodelormove.com. Both will assist you with the difficult task of making the right decision for your family.
If you decide to move, then there are low-cost improvements you can make to your existing home
that will help it sell more quickly. The kitchen and bathroom provide the biggest return on investment in this area.
Whether you decide to remodel or buy a new home, it’s important to ensure that you have proper financing in place prior to your decision. A mortgage originator will help you to determine how much you can afford and which loan package works best. If remodeling, meet with a mortgage professional before any construction takes place.
We have a loan that enables you to finance either the purchase or refinance of your house AND the cost of repairs (up to $35,000) through a single mortgage. Repairs and improvements are completed after closing by professional contractors of your choice and may be completed in 45 days from start to close.
Mr. Phillipson, To list what your bank has done very well is difficult to answer, because any time I had a question or had to provide information, it was clearly explained to me why and when and how so that I could get closer to closing on my mortgage. If I had to choose one thing, I would say the communication was excellent. Whenever I needed to speak to Mike Schenk or his team, they responded timely and explained the process to me. That way, I understood the process and knew what I had to do on my end. I can gratefully say, I understand what is involved in getting a loan for a house involves and what each figure or document means regarding my mortgage. As far as what you could work on improving, the only things I would suggest is to get your bank name out there! People should know that there are real people working at this bank and the process isn’t as scary as they think it is! Mike and his team made me less anxious and stressed about this process. Advertise more. Shout out your bank’s name! I will certainly recommend you to anyone looking for or considering a mortgage. Enjoy your weekend! ~ Nick – Plattsburgh, NY