Shoud I add-on to home or move?
Great question from yellowcow in Zillow Advice about how to best create more space for a growing family.
The question continues in Zillow Advice. Should they stay or go? What do you think?
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There could be up or downsides to both really; just make sure they’re all weighed before making your decision.
Do you like your neighborhood? Your neighbors? Likely if you move they aren’t gonna be coming with you.
Will your kids have to change schools? Is that gonna be an issue for them (or you)?
If you decided to add on to your current home, would it negatively impact the value or not add as much value as you are investing? By this I mean, if you’re already the largest home on the block and you add another 600 sq ft, you’re likely not going to get dollar for dollar back on your investment when it does come time to sell as you will be overbuilt for the neighborhood…
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We had the same dilemma and decided to move. We are thrilled with our new house, and with a much better floor plan than the ranch home we left. We were never happy with the last house being on a slab foundation, and we didn’t like the well or septic tank. Even though we gave up a wonderful location with a beautiful 2 acre lot, we haven’t looked back. Our new home is on a busy street close to a quaint downtown area, about 15 min. from our old house. We have a basement apt. for our 20 yr. old son and schools were not an issue. We got a 4.5% fixed 30 yr. int. rate. Moving was definitely the right decision for us. Our last house was built in 1979 with low ceilings, the new one was built in 2004, with 9′ and 10′ ceilings…..too many things we couldn’t have changed in the old house.
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Great advice Jim
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Such a tough choice.. I guess for me it would depend on how much I could get for the home right now and how much it would go up if I added on. hmmm…
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