Princeton Town Topics – Let’s Talk Real Estate – December 5, 2012
ADD ON OR BUY?
Homeowners should consider several questions before deciding to add on to an existing home or move up in the market to a house with more square footage. How much money do you have available for remodeling your current house? How much additional space do you require? Is there room to expand on the ground level or will the foundation of your present home support a second floor? What will the local zoning and building ordinances permit? How much equity do you have in the property? Are there affordable properties for sale that would satisfy your housing needs?
Consider your neighborhood–it makes more sense to add on to a smaller house than to over-improve the largest home in the area. Your decision should ultimately be based on your individual needs, the extent of the work involved and which features will add the most value. According to industry experts, buyers are always enthusiastic about state-of-the art kitchens and bathrooms.
