At Rise Above, we recently had a customer who was trying to figure out whether to downsize and buy a new home, or remodel her current home. She absolutely loved the area she lived in, but with the children out of the house, she and her husband were having a difficult time keeping up with the maintenance of the home. The home also had not been remodeled in the last ten years.
We see this situation all the time at Rise Above. Many people are asking us “what benefit does downsizing add to my life”. Some also ask “how can I remodel my present home to fit the downsize idea without needing to move”? To answer that question, you’ll have to think about your emotional attachment to the house, whether remodeling will bring a good return on your investment and whether you can afford to buy a replacement home. These and other factors will help you make your choice.
We have a few suggestions you might want to consider before downsizing. Think honestly about your relationship with your neighbors and how you feel about your location and the surrounding area. If you have a strong connection to the neighborhood and emotional ties to your home, remodeling may be the right answer. If staying in your home or neighborhood is your priority, a residential architect may be able to help you envision upgrade possibilities that you may not see. At Rise Above we work with architects that can help you get maximum functionality out of the home you already have.
Realistic budget planning is critical when deciding whether to make your current home work or look for another one. Working with professional planners can help you hone in on your realistic expectations of what you want from your home in your next phase of life. The goal is to determine what your priorities are and stay focused. You might even want to consider tapping in to your home equity to pay for the improvements.
Our customer decided to stay in her home and use Rise Above Remodeling to create the home of her dreams. After the complete remodel she claims to “finally love her home again.” Rise Above provides free estimates for all of our customers. If you are weighing your options to downsize or remodel, give us a call to get an idea of how much your remodel will actually cost. We have found that knowing the cost can help you make the best decision for your family.
Categorised in: How-To/Educational