Considering A Move? You need to see Remodelormove.com
Submitted by Vicki Owens, ABR, GRI, Andy Siers, Realtors, Central Ohio
Most homeowners don't need a calculator to determine if moving out or fixing up is their best decision. Seventy percent of those who have completed home improvements say they have the work done to enhance their quality of life and to obtain personal enjoyment, according to a recent Wells Fargo & Co. survey.
Baby boomers preparing their homes to retire in place, Gen Y families expecting their first child or second, or Gen X families sending kids to off to college all experience a change of life that warrants reconfiguring the home to fit their new lifestyle. Buyers who avoid the old adage to start small and move-up later, but instead take more contemporary advice to buy a home now that fits future projected housing needs, also avoid making the move or remodel decision. And, for others who believe their home is not an island, but part of a greater community they've grown to love, moving simply isn't an option.
For some, the decision isn't always so clear and even for those who believe they've sidestepped the issue, a little second guessing can't hurt. That's where Sunnyvale, CA-based Dan Fritschen's RemodelOrMove.com comes in.
It's the Remodel-Or-Move calculator, the centerpiece of the online support system for fix-it-up-or-buy-something-else challenged homeowners, that really makes the website sing. The site's free digital analysis offers 40 questions to determine your best financial-based decision by calculating the cost of a remodeling project and comparing it with the projected cost to move. It also taps your emotions asking questions about how you feel about your neighborhood, your home and the remodeling process.
The calculator then gives you a brief recommendation, and some estimates -- the net cost to remodel; the payback (in value returned to your home) on the remodel; cost to finance the remodel; a total cost to remodel; a net cost to sell your house and move; estimated net cost to finance the difference in price between your old and new house; and the net cost to move including financing. For the calculator to come up with the best estimates, you must know or be able to provide reasonable estimates for the many costs you'll need to plug in, including the selling price of your existing home, the cost to buy and finance a new one and if you'll do the remodeling work or hire out. Hopefully, you already know how you feel, but coming up with the numbers will require quite a bit of home work -- some of which can be completed right on the website.
Fritschen is not a contractor, real estate agent or moving specialist, but created the website after buying and remodeling several homes for his own family. Along with the calculator, the site offers private consultations and group seminars, as well as a bounty of editorial content including, reasons to remodel or move, room-by-room projects, remodeling and moving costs, choosing a contractor or real estate agent, contracts and preparing your house for sale. The site also offers recommendations for further reading. Check it out—it’s a great resource!
This can give you an educated start in your plans. If you decide to move, you’re best bet would be to continue your research by checking with reliable local real estate agents on market conditions, request to see how the numbers would all “shake out” in a sale, and talk with lenders about the current rates and down payment options. One step at a time to make sure your decision and move are the right one for you. With such an important decision and so many factors including recent market changes, you deserve expert advise from a Realtor and Loan Officer with your best interest in mind. Don’t be pushed—slow and steady wins the race and patience is a virtue in the 2007 market.
If you plan to move up or down, Vicki Owens of Andy Siers Realtors is an expert helping with all of your real estate needs in Central Ohio and surrounding areas within a 30 mile radius. Moving from the city to the country, or from the country to the city, Vicki can help offering honest, expert consultation that isn't just a lot of fluff, but the state of the market and details of the finances too. Call her at (614) 440-5174, or visit her on the web at vickihelpsu.com.