Where Is Your Heart At Home

Is your family growing or shrinking- do you need more or less space? Have your neighbors changed- do you love them or not so much? Does your home have charm- is charm what you are looking for in a home or is it time to upgrade and update?

Is your home where your heart is or is your heart in your home? Consider this when pondering “to move or to remodel- that IS the question”

Return On Financial Investment

Before opting to sell/buy or remodel, determine what the return on your investment will be with either option. If you plan to sell and then buy, it may take you approximately seven to ten years to earn back the upfront costs associated. On the other hand, most home upgrades do not pay for themselves in the form of a higher eventual sales price. Some renovations may recover about 80 to 90 percent of their costs while others barely cover half of their expenses.

Return On Emotional Investment

Is home where the heart is? If you have minimal emotional ties to your neighborhood, your neighbors or your home- you may consider moving. Estimate the costs associated with buying a new home. A new home means qualifying for a mortgage. Buying a new home and selling your current home means real estate commissions, closing costs and the expenses of moving your belongings from one location to another.

Or, is your home in your heart? Do you have emotional connections to your neighborhood? To your neighbors? To your home, itself? If you answered “yes” to these questions then you may want to renovate or remodel your current home. If this is the direction you are taking and you have equity in your home then you are in luck. You may qualify for a cash out refinance or renovation mortgage to pay for your planned upgrades. Estimate the financial costs of the most crucial renovations you plan to make. Be careful not to “over-improve” for your neighborhood.

Does the thought of moving make your heart race with anxious excitement or just plain anxiety? Does the thought of living through a remodel cause you lovely dreams of your new bathroom and kitchen or nightmares of the dust, time, choices and financial investment you will have to make? Both experiences have their benefits and challenges. Which option is best for you and your family? Buying a new home means packing up your belongings and moving- perhaps to your new “dream” home. Remodeling your current home comes with its own struggles- it can be a most arduous yet rewarding process.

So, home is either where you heart is or your heart is in your home. Plan ahead for either experience (to move or to remodel) and you will find either experience more enjoyable and less stressful.


Next Steps

Kara Davis of Crew Lending can help you with all of your residential lending needs. She is a leading provider of mortgages in Lake Charles, Sulphur, Westlake and the entirety of Louisiana.  She can also lend in 47 other states. Remember that customer service is key in the mortgage lending process. Kara Davis will help you understand the loan process. For more information call Kara Davis at 337-842-0115 or click here to explore loan options.


To Move or Remodel