Is it cheaper to renovate or buy a new house?

You don't have to remodel everything in your home, which means your budget can fit what you need to do. If you've only been in your home for a few years and have a mortgage, the home's equity may be minimal.

Is it cheaper to renovate or buy a new house?

You don't have to remodel everything in your home, which means your budget can fit what you need to do. If you've only been in your home for a few years and have a mortgage, the home's equity may be minimal. As a result, you wouldn't get much profit from selling your home. Deciding whether to renovate your current home or buy a new one isn't easy.

a smart real estate agent will tell you that it's all about location. This plays an important role in the question of the new versus the renewed. If you love your neighborhood and have qualms about leaving behind your beloved neighbors, the comforts and the feeling that this place is your home, then renovation may be the best option. Better yet, if your current home is in a modern neighborhood where real estate prices are soaring, a renovation can also be a smart financial move.

Request cost estimates for the remodeling project and then determine the fair market value of the finished project. If the new selling price exceeds the cost of renovations, the decision may be obvious.

Kristin Durley
Kristin Durley

Wannabe tv practitioner. Professional pop culture evangelist. Lifelong creator. Unapologetic twitter nerd. Infuriatingly humble zombie expert.

Leave Message

All fileds with * are required