Improve or Upgrade?

By Robin Shapiro

I often meet buyers and/or sellers contemplating the same dilemma – They need more space in their home for growing families. Should they put a lot of money into an existing home (or a potential purchase), or should they buy a bigger more expensive house which doesn’t need a lot of work?

I once wrote about a fellow whose inexpensive construction man delayed the sale and probably cost him a lot of money because of the delay in marketing the house. Ultimately 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 work.  Why?  Delays and cost overruns are common problems. I’d try to avoid building permits, architects and construction workers in our current environment. On the other hand, 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.

Of course, 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