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4 Signs It’s Time to Sell Rather Than Renovate in University Park

May 16, 2018

Making the choice to sell your home is always a huge decision. After all, your house has served you well, met your needs for years, and parting with it after so long can be an almost heartbreaking choice. While many homeowners decide to renovate their homes rather than sell, it’s not always the best choice. Your experienced real estate team in Observatory Park wants to make sure you make the best decision for you and your family. They share a few signs it’s time to sell rather than renovate your existing house.

There’s Simply Not Enough Space

Families grow and it’s easy to outgrow your home after a few years. While you could build a new addition, doing so often means months of inconvenience and high construction costs. If you’re running short on space and would rather avoid the stress of having workmen in and out of your home throughout the week, it’s time to sell. This way, you’ll be able to pick a house that meets your current needs rather than trying to retrofit an existing structure.

Your Neighbors Just Sold At a Profit

If you’re not completely in love with your house, there’s no reason you can’t start looking for a new property. However, if your neighbors just sold their house at a profit, the time may be ideal to list your home. Often, home values increase at similar rates in the same neighborhood. If your neighbors just sold their home for a profit and you’re worrying about whether or not it’s time to renovate, stop. By selling your home, you may end up making a profit that could help you find the perfect home just a few doors down.

The Remodel Costs More Than It Earns in Property Value

Many renovations help boost the resale value of your home. However, if the renovation is going to cost you more than it would improve the resale value, it may be better to look for a new property. The last thing you want to do is spend more money on your home than you could make up by selling the property. This loss could set you back financially and make it more difficult to recover your investment.

You’re Tired of The Space

Your tastes change and what worked well for you a few years ago may not be the best fit for your current needs. It’s okay to get tired of your home. It happens and you don’t even need a reason other than feeling bored, frustrated, annoyed, or just tired of it. If your current home is starting to feel stale or you no longer love the house, don’t renovate—sell. By selling your house, you’ll be able to pick a new home that fits your needs without incurring the expense or stress of renovations.

If you’re looking for an experienced real estate team to help you sell your home, look no further than Elevation Group. Our dedicated agents will help you every step of the way, from listing to closing. Contact us today for more information and start exploring your options.