To Buy and Renovate an Existing Home or To Build….What’s Your Vision
To renovate or to build is a burning question for most people looking to make the right investment move for their future. This question really comes down to where you currently are in life and where you want to be. Some people are seeing their money going out the door by renting and this is exactly what will happen, but if you do some soul-searching about what your true life goals are map out your vision you will easily come to a definitive answer as to which way you should go.
We all know a home is the single largest investment that a person makes. Location, price, market trends, property specifics and the condition of the property are all factors to consider when deciding to dump more money into the home you own or when buying one on the market to renovate. In this case you will not only have to be practical and realistic as to your end-goal keeping in mind to think like an end-buyer and plan to upgrade to a market-friendly, breathtaking finished product that will last for years to come. Weighing all the costs and all of the soon to be future replacements that you may incur while you are still in the home like possibly a new roof, water tank or upgrade to air conditioning on the furnace…etc. compare these costs to a new build that will have essentially no headaches for years to come.
Yes, this seems a little overwhelming but let us help you break this down a little further so you can make an educated decision: