Should I buy or remodel? This is a tough question often asked in the current real estate climate.

Your answer depends on your unique situation. Home prices and mortgage interest rates will probably start inching up this year. So the cost of buying is at an all-time low. And if things you want to change cannot be done for your existing home – schools, property size, location, life style – then it just makes sense to move. There is a flip side to this, though. If you are upgrading to a new home, your property taxes, even homeowners insurance may increase. However, remodeling will usually not increase your costs of these items as much as buying. So, staying where you are could mean a tax savings if you can get what you want by remodeling your existing home. You just have to do the math and weigh all options.

  • February 21 2013 - Johnson City
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Answers (1)

If your home is dated now you should do some upgrading before you try to sell so you can get the most money for your home. People will low ball you because of the work they will need to do. You could remodel your home the economical way and enjoy it for a while. Then you could sell it easier and get a good price. Remember you get your money back remodeling you kitchen and bathrooms.
  • February 21 2013
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