Renovate or Sell?

Posted by Janis Penick on Monday, November 4th, 2019 at 4:25am.

Renovate or sellIf you have lived in your Bastrop home for a while and no longer feel like it meets your needs, you have two choices. You may sell your home and buy a new one that has the options you are looking for or remodel your current home so that it meets your needs. It can be hard to decide what is best but as you think about it, here are four things to consider.

Is your home in the location you want? If the location is perfect and homes in that area are not always available, it may be better to make updates and stay right where you are. All changes aren’t possible but many are. Add more space, update the kitchen and bathrooms or add a garage. All of these are things you can do. It is important to consider the impact these changes will have on the value of your home. While changes don’t always increase your home’s value, make sure you don’t over improve your property. A five bedroom home surrounded by two bedroom homes will be a tough sell no matter how nice it is.

Schools are another reason you may want to stay in your home. If you have kids in school, moving may disrupt the schools they are enrolled in. Some school districts are highly coveted and if you are lucky enough to live in one of those, you may want to stay where you are as opposed to moving to the perfect house with schools you aren’t happy with.

What about your neighbors? If you have lived in your home for a long time, you may have neighbors that you are very close with. While you will have new neighbors when you move, it can take a long time to redevelop the relationships you have spent years building. If your neighbors are more like family, do you really want to leave that?

Lastly, moving is expensive. If you are moving because you think it will be cheaper and easier than renovating, think again. Moving is expensive and stressful and not always the easier of the two choices.  Weeks of packing, hiring a mover, unpacking at the new house and lots of other things will add up significantly in time and money. If you are moving to save money, make sure you factor the cost of the move into your plan.

Any home you purchase will have things you don’t like unless you custom build a new home. No home is perfect so its important to balance everything about your home when you are trying to decide so you know what will be best for you.

The Janis Penick Team

RE/MAX Bastrop Area
Serving Bastrop, Cedar Creek and Smithville
janis@janispenick.com

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The Janis Penick Team is your ultimate real estate resource for Bastrop, Cedar Creek and Smithville, TX.

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