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To Buy or Remodel: THAT Is the Question

Life changes often make us rethink our living situation. A growing family, a new job with a different commute, elderly parents moving in, or an old neighborhood that you want to escape are just a few reasons you might consider changing your home.

The question becomes whether or not you should invest in home repairs and upgrades or simply move to a new property. When making this decision, reach out to the qualified and experienced professionals at Harbor Stone Construction. We are one of the most sought-after home improvement companies and can help you decide if remodeling is right for you.

How is Remodeling a Good Choice?

Remodeling gives you the chance to make your current home exactly what you have always dreamed of. You may want a fancier kitchen or additional living space. The choice is yours!

There are several advantages to remodeling. Additions to an existing house may be more cost-effective than purchasing a comparable amount of space in a new building based on the square footage. Home remodeling contractors may give an estimate of how much money it will cost to renovate, which you can compare to the cost of a similarly-sized home.

Financially, it may make sense to remodel if you can use the equity you have built up in your home. If you have enough equity in your house, you may be able to borrow money to use for improvements. However, you must meet the loan requirements and pay any closing expenses. This still may end up cheaper than buying a new home.

Do you like your current location? One of the best parts about remodeling is that you do not have to move! Homeowners who have a deep emotional attachment to their house may find that remodeling is the best option. In this case, home improvement companies are there to save the day!

Things To Keep in Mind When Remodeling

Major renovations are not a decision to take lightly. While there can be advantages to remodeling, you may not be familiar with some parts of the process.

Remodeling can be complicated at times. Renovations can be time-consuming, dirty, and disruptive. You may have to temporarily move while contractors work on the project. Renovations do not always proceed as planned, due to factors like material shortages, contractor delays, and budget overruns.

You should also consider how much longer you plan to live in this home. Extensive renovations are typically only justified if you intend to remain in your house for an extended period of time. In the long term, they have the potential to raise the value of your property considerably.

Purchasing a New House

Remodeling may not make sense if you are leaning toward buying a new home. It may be advantageous to start over with a new house for a variety of reasons.

If you or a family member have started a new job in a different area, you may want to move closer to reduce your commute. Buying a new home can also make more sense if your children have left the nest and you no longer need as much space. Otherwise, you may simply want to get out of your current neighborhood and start fresh somewhere else.

At the end of the day, the answer to whether you should buy or remodel will depend on the needs of you and your family. Weigh all the decisions and do your homework before deciding whether remodeling or purchasing a new home is right for you.

If you do decide to remodel, one thing is certain. Harbor Stone Construction is the only name you need to know when searching for home remodeling contractors! Our team can handle everything from floor installations to creating a new addition to your home. No job is too big or too small for us. Call us today at 610-467-0872 to discuss any projects you have in mind!

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