Sell or Stay?

 Sell or Stay?Move-Up/Down-Size or Time To Remodel? How Do You Decide?

The signs have been there for a while. You walk in the house and a flood of toys clutters your path or your kids are wedged like sardines into a single bedroom. Your home office is more like a home closet.  Or, does your home feel empty and just too large to manage?  All of the kids have moved out and their rooms have become storage.  Your home is just too big and you want to downsize into something more manageable.  At odd moments, you catch yourself dreaming wistfully of another bathroom or find yourself watching marathons of “Love It or List It.” Maybe it’s time to move, but you aren’t sure if it is time to leap.

Space Coast Realtors

With all the talk of a seller’s market many people are considering listing their homes. March data from www.realtor.com showed that many of the 146 markets monitored have experienced an increase in list price year over year. Spring homebuying season is in full swing and while getting a loan is still a challenge, there are some s

igns that banks are easing their requirements just a bit. The New York Times reported that some credit unions are offering 100%

Things are also changing on the remodeling side. People are far more prudent today than they were during the housing bubble where extravagant renovations were more the norm. Today’s remodel is a different from the luxury remodels of a few years ago. Homeowners still want to renovate but they are often smarter about it with an eye toward finding a balance between livability and resale value. A recent Marketwatch story on the rise in remodeling projects noted that owners are often choosing more simple projects, doing mini-remodels rather than expensive total renovations. financing in areas where home values have stabilized or are rising and overall those with an average or even slightly below average credit situation have a better shot than they have in years.

Here are a few questions to ask yourself as you consider the remodel or move conundrum.

Making this decision requires a lot of number-crunching. Bringing in a contractor to advise you on the cost of your potential remodel and working with a Realtor on a potential sale will give you the data you need to decide whether it’s time to stay or go.

For more on this article, visit www.realtor.com

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