Improve or Upgrade?  And Market Update

By Robin Shapiro

Some people need more space in their home for growing families. Should they put money into an existing home, or should they buy a bigger house which doesn’t need work?

The decision to improve or upgrade depends somewhat on individual finances and the specifics of the house in question. In general, it probably makes more sense to sell the existing house and avoid making any large investment in construction. Why? Delays and cost overruns are common. I’d try to avoid building permits, architects and construction workers in our current environment. However, I have a comprehensive list of tradesmen if you want to seriously consider construction: this includes plumbers, roofers, masons, carpenters, architects, electricians, general contractors,  etc., and even handymen.

The housing market was strong this past winter in spite of the weather. Several 30×100 homes with shared driveways closed for approx. $1 million, with some larger updated properties pushing $2 million. The prices were high but priced for a quick sale. There have been some building dept rule changes: basement apartments with two exit doors are now legal on multi families. Also, it’s easier to expand a home as evident by the many neighborhood houses under construction.

My suggestion to sell rather than upgrade is dependent on obtaining an acceptable price for the existing home and buying the right new house at a fair price. I can help. Call me. Love, Robin