Sell Or Remodel If You Want A New Home

Dated: 10/29/2017

Views: 66

The industry talk according to The Wall Street Journal is that home owners are opting to stay and renovate current homes than to find new ones for their growing families.

With inventory being at an average of 4 months supply (instead of normal 6 month supply) home owners don't have the options they once had in finding their new homes.  

The thing that is often overlooked when home owners make this decision is how their buying power will be affected in the future as interest rates start to increase which is favored to happen since the economy is somewhat healthy at this point. As new companies bring new jobs to the metropolitan areas, people are experiencing not enough homes are there to support a move. People are now looking at extra commute times in lieu of giving up a comfortable home! 

So a good question to ask yourself if you are contemplating the same issue is does it make more sense to give up additional quality of your life to drive extra time back and forth to work to keep a "comfortable home" also will your home be as comfortable if you are not there to enjoy it as much or would it make more sense to be a little less comfortable to have additional time enjoying your life, only each individual facing this issue can decide for themselves. Just something to think about! 

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Carolann Newton

I was a domestic paralegal for 8 years prior to Real Estate. Since I have been in Real Estate I have grown to love this business, even though it does have it's challenges; it is very exciting. There i....

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