Are you empty nester who has found yourself with way more living space than you need?
It can be tricky time of life to navigate. The kids have moved out and now you're living in a family home that is large and maybe getting difficult to take care of. You may be wondering if it is better to remodel the home to fit your current needs better or sell to a new family.
Here are some things to consider:
Remodeling gives you endless options of customization for your home. You can enhance your master suite, build in a dream chefs kitchen or turn an old bedroom into an artist's studio. Be careful to make decisions that don't detract from the value of your home, should you decide to sell in the future. The average ROI on remodeling is around 64% of your investment when you do go to sell, and this number varies depending on what spaces you remodel.
Remodeling can be stressful & expensive. Living in a construction zone is a challenge, but an extensive remodel may mean that you'd have to move out of your home until it is completed. Make sure you budget these types of expenses in when considering a remodel. There can also be unforeseen issues that add up.
While it can be a very emotional decision to sell your long-time family home, there are some upsides to this options. You can downsize your living space and upsize your lifestyle. Have you always dreamed about living somewhere with a view or beautiful high end amenities? You can take the equity from the sale of your family home and invest in the empty-nesters dream home. Having the flexibility to leave your home and travel is also a boon to empty nesters. For this reason, condominium living may be extremely appealing in this stage of life! There is less maintenance required on the home and a potential for built-in community.
Now is a great time to sell your home. If you are looking to downsize from a large family home or just find something that better fits your lifestyle needs, give us a call! We'd love to help and discuss the best option for you.