Renovate Your Current Home or Buy a New One: Which Should You Prioritize?
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Published 2024-07-17
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All Comments (6)
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It's always cheaper to renovate. Forget about "overbuilding" for the neighborhood. Build for yourself, not future buyers.
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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%.
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Option 3 Just be happy with what you have for a while.
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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.
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People watch too much HGTV