Renovate or Sell?
Here is a great article from +Anita Clark
about whether you should renovate or sell your home.
I have found over the years that if you are considering a major renovation.... including additions, major kitchen renovations etc...
from an economical standpoint it will be better to sell and buy a home that suits your needs.
For example a major kitchen remodel will probably only recoup about 60% of so if what you spent. If you go to purchase a home with the kitchen you want, that kitchen is most likely discounted in the sale price.
Financial factors should not be the only decision in whether to buy or sell. If this is your forever house and you plan on staying for 15 , 20 or 30 more years the financial factors play less of role in your decision.
But lets face it, things change. What if you are forced to sell your home do to a job change or another reason. Will you be able to recoup your money?
One last thought I wanted to leave you with is many time folks who are renovating a home to suit their needs, tend to way over improve for the surrounding neighborhood. Over improving will leave far too much money on the table if you must sell.
Talk to a local REALTOR before doing any major renovations and discuss the financial feasibility of your planned renovation. #realestate #homeselling