Remodeling vs. buying new is a battle historically won by the first option, considering that 2/3 of Americans live in a place they own. When you own a home, you will obviously make remodeling projects instead of changing it with another home every time you get bored of its old aspect.
However, the needs are constantly changing. Some people are actually interested in buying a home, living in it until they can sell it for more money and then move on to another property of higher value.
People`s lives also evolve and some are looking for new homes when their needs change, which is natural.
It is not always easy to choose between relocating and remodeling. These days, most people choose to stay in place because it is very difficult to sell a home and get a fair price for it. Prices are low, so people prefer to stay and consider remodeling projects to make improvements. In other words, they add value and wait for the market to change.
Relocating is exciting, but selling and purchasing homes is a process that most people prefer to make as rarely as possible, considering its complexity. Nonetheless, it has its advantages: a fresh start, various financing options and favorable income-tax consequences.
Both options have pros and cons and ultimately the decision depends on what suits you best at a certain moment. For pricing and weighing your options, talk with a contractor at https://penneyconstruction.net.
First Seen on: Why You Should Remodel Your Home Instead Of Buying A New One
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