One of the top reasons for selling a home and its alternate solution
Many a times it is seen that the homeowners sell their respective homes for the wrong reasons. There can be a series of personal or financial problems due to which people have to take the bold step of selling a property, but the truth is that giving a thought to the situation and considering the alternatives can at times be helpful and spare you the need of parting ways with a home that you might be emotionally attached with or that can give you future returns.
In this article, we evaluate one of the top reasons due to which people sell there homes and the alternate step for the same:
REASON FOR SELLING: Requirement of more space than is available in your current home.
With the passage of time, one’s family and status both increase; thus, there is a genuine need for more space. Generally, people sell their home for this reason and exceed the affordability parameter.
Alternative Solution: One can consider remodeling the existing home rather than purchasing a new property. Do a market research on the latest types of home improvement techniques that are available. You can also opt for hiring an expert who can assist you in exploring the ways in which you can expand the existing space. A more open-plan style might provide more living space. One can also add and enlarge a bedroom or bathroom to the existing home. For more renovation tips check Home Improvement Section on www.makaaniq.com .
Let’s also give a read to the pros and cons that come with the solution:
Pros: Generally, remodeling improves the resale value of a home. The more attractive the home is the more value it extracts. Remodeling a home also saves all the other costs that are associated with moving from one house to another.
Cons: Remodeling might mean an increase in the property taxes. Moreover, in many locations one has to have approvals prior to having a remodeling in terms of extension. There is also a potential risk of over-improving the property. Therefore, think carefully as to how much to invest.