Should You STAY or Should You GO?

FEATURES Should You STAY or

Should You GO?

by Karen L. Chandler

If you have lived in your home for a long time, you may be thinking about heading toward greener pastures. But if your budget may not make a new home possible, a renovation may be a better path to take. If making the choice to stay or go is somewhat overwhelming, here are some key things to think about.

The real estate forecast for 2022 is a bit chaotic. Economists for Realtor.com believe Americans may have somewhat higher hopes of finding homes this year, but listing prices, mortgage, and rent rates are all predicted to rise as incomes increase.

And the pandemic played havoc on the market, delaying move plans and affecting job situations, so while more Americans are going to be house hunting, more sellers are expected to list while opportunities are ripe.

Reaching out to a trusted Home Builders Association of Berks County member for advice will go a long way toward helping you navigate the coming real estate market.

Here are some questions to ask yourself when you are ready to make the decision to stay or go:

Do you have the budget to move?

If you live in an area that has either affordable new homes or building lots, contact a builder known for quality construction who belongs to the HBA or visit Home Builders Association of Berks County Buyers Guide :: Index (berksbuildersbuyersguide.com) for a complete list of home builders.

Reach out to an HBA area realtor for help in locating a great spot, whether you choose to build a new home or are looking for an already loved property. And when your decision is made, our HBA financial pros can guide you through the mortgage and settlement insurance process.

Is staying where you are now important to you and your family?

If you love your neighborhood and your school system, you could try to find a new home nearby, but maybe giving your home a renovation update is the best option.

The pros in the HBA of Berks County are awaiting your call when it comes to creating your dream home without packing a moving truck. And keep in mind, if you can upgrade your home without changing your floor plan, it could save you almost half the cost of altering the structure.

Consider not packing the moving truck! Beautify your home instead. Retaining your floor plan will allow for the creativity of a new kitchen or bath with the help of HBA experts who will design and outfit your space to be both beautiful and functional.

And always remember to ensure that your plumbing renovations are top notch with a call to a trusted HBA professional.

New windows and doors will not only keep your home more energy efficient but bring elegance and beauty throughout the space. And new colors and flooring always make a home look fresh. Head to HBA flooring suppliers for a wide variety of carpet, wood, tile, and vinyl, and to building material pros for exciting paint and wallpaper to create just the living space you want.

And those building material suppliers can help with the exterior update that can go a long way toward making your house look new again. Contact HBA contractors for the latest and greatest in durable and beautiful siding installations.

Are you sure the renovations you plan will increase your property value?

It is always best to check with a realtor or contractor to be sure the changes you plan will enhance your home’s value if you expect to sell down the line. If the renovations you consider are not really making sense for your family goals, it may be best to consider a move.

Will moving raise or lower your property taxes?

Make sure to check on the property taxes in the counties where you consider making your new home and get the advice of your realtor and financial experts to be sure you can afford the cost of your move as time goes on.

What about buying a “handyman house”?

While the idea of a handyman special might sound frightening, a remodel on the worst house in a great neighborhood could give you bang for your buck. Always consult with a trusted HBA realtor and contact an expert HBA contractor to ensure an investment in a fixer-upper will be in your best interest.

Heating and cooling concerns are key issues to check and big ticket items to overhaul when you consider a fixer-upper. A call to a professional HBA member will go a long way toward putting your mind at rest about potential problems down the road.

Still on the fence?

Making a move can be an exciting, but stressful time, and filled with ups and downs. A new place to live is a chance to start over with a new home and new friends but moving can be expensive with fees along the way and brings with it the stress of sorting and packing your life to make the trip.

A remodel can always cost less than a move because most renovating can be done a little at a time, according to what your budget will allow. But if your home needs a complete remodel, moving to a new or recently updated property may be a better option.

And there are these complications for renovations. If your budget cannot stretch to pay out of pocket for construction costs, you need to ensure that you have the home equity needed to be approved for a loan. And renovating is a messy business. Depending on what rooms are getting their updates, you may need to consider a hotel or a stay with friends or family until your home is livable again.

Have you decided?

No matter which path you choose, a new property or a renovation, check in with the trusted professionals at your Home Builders of Berks County to help you along the way at Home Builders Association – the leading advocate for the building industry in Berks County (hbaberks.org)

??? ?