Renovate Your Current Home or Buy a New One: Which Should You Prioritize?

The Money Guy Show
The Money Guy Show
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Published 2024-07-17
Most people, particularly those with growing families, feel stuck in their homes right now. They’re locked into a low interest rate, but they’re growing out of their current home and are thinking about upgrading. So how do you decide if you should stay and renovate… or bite the bullet and upsize? We’ll help you decide the past path forward for you.

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All Comments (6)
  • @saulgoodman2018
    It's always cheaper to renovate. Forget about "overbuilding" for the neighborhood. Build for yourself, not future buyers.
  • @ds5651
    We are in the middle of renovating our 2000 sq foot house. Big enough to raise a family and stay here. Amazing neighborhood. Bought for 280,000 worth 600,000. Locked in at 2.75%.
  • @fasteddy3336
    Make sure your house is on the bottom half of pricing in your neighborhood. I once bought a house that was probably in the top 2% of the neighborhood as far as price. And it was hard to get money out of it because all the other houses I had to pull up to make mineworth more. So if your house is in the upper half, I would not renovate I would buy new if your house is in the bottom 50% I would renovate.