At some point, most homeowners will experience life changes which will make moving a necessity – or is it? For those who live in a Sarasota or Longboat area home that they love, a quality remodel may be a viable solution to selling and moving.
At Lindahl Construction, we have decades of experience helping area homeowners with additions, remodeling and upgrades. But sometimes, moving may be a better option. Which is right for you? Here are some factors to consider.
Remodel for Family Changes
One of the main reasons people move is to accommodate a change in the size of their family, usually children. While a baby or two may not take up room, as the family grows in number and in age, more space is needed. If the lot and the neighborhood allow for it, you may choose to add an addition or an additional floor to your existing home for extra bedrooms or a playroom.
Another reason that people may wish to add on or remodel is to move multiple generations into the home. If your parents or grandparents will be moving in, you may decide to build an addition, or separate a portion of the home into separate living quarters.
Depending on the deed restrictions in your neighborhood, you may also wish to retrofit the home for a rental situation. If you don’t wish to sell the home your kids grew up in, once they leave you could use the extra space to generate income, perhaps by adding a wall or two – and a separate entrance.
You may also take the opportunity of empty nesting to build a pool bath and sauna, add a home media room, or turn that spare bedroom into a nursery for orchids and herbs.
When Should You Move?
Aside from sentimental reasons, there may be financial reasons behind your decision to remodel or move. The price you paid for the home, the amount of your mortgage, the equity in your home, and the strength of the market are all factors to consider. It may be that it is more fiscally prudent to keep your home and simply add on; while in some cases you may get more for your money by selling and taking your equity, and then buying exactly what you need. In addition to running the numbers for selling your home and purchasing the home you think you require, you will also want to have a local Sarasota general contractor come advise you as to the amount of investment which would be required to renovate to your specifications.
If you are reluctant to sell your home but are unsure as to if you can afford an addition, you may still wish to speak with a general contractor. You may be able to build some extra storage to save space, construct an outbuilding, or perhaps put an additional level over your garage. Many times you can expand your living area simply by moving storage areas outside, and utilizing the extra space for your daily life. A custom builder can also help you to brainstorm ideas such as enclosing a lanai, or turning your garage into a permitted extra bedroom. Remember that contractors have seen hundreds of remodels and will have great ideas as to how to keep you in your home, but find you the space you need.
Whatever type of remodel you choose, it is important to hire a licensed and insured builder to help you. You will want to make sure that the work is properly permitted and recorded in the tax records, so that you will not run into issues later on, especially when you do decide to sell the home.
If you are trying to decide if you should sell or remodel, run the numbers, talk to your family – and call Lindahl Construction. We would love to help you to work through your options.