• Athena Builders

When do you know it's time to start a home remodel?

At Athena Builders we hear the same question asked over and over again when people are considering a remodel.

"Would it just be easier to move??"

Before you can answer that question though you have to consider many factors. I've broken them down below:

First there are the practical questions regarding what is best for your family that only you can answer.

- Do you like your neighborhood & area you live in?

- How's the accessibility of your location to work, entertainment, stores, & friends?

- Is your home the right size and layout currently & for the future?

- Are your children happy at their current schools?

Next Let’s get into the nitty gritty: Finances.

- Do you want to spend money to move? It seems like such an odd questions, but its something to consider realistically. How are you really going to get from the current house to the new one? The house you may want, is probably bigger, more flashy, and a lot more expensive then what your current place is valued at. Not to mention the actual cost of moving itself!

Here's our breakdown for costs when it comes to an average 4000 sq ft house:

  • valued at $1,000,000

  • Closing costs at $60,000 - $70,000

  • Property Tax increase of 20% from what your currently paying (on average)

  • Moving costs from $10,000 - $100,000

  • New furniture

  • Any renovations to suit your lifestyle and needs

Money is a huge consideration when renovating your home. For a 4000 sq ft home , you could pay $1,000,000 for the house itself, another 50,000 to move and it could be even more money for a more expensive or larger home. For a $1,000,000 home, closing costs on average could be about $60,000-$70,000.

The higher property taxes will be an added cost as well. This is a big consideration with Houston’s high property taxes. You will probably purchase a more expensive home that is appraised higher than your existing home and your taxes will still be increasing every year. You will want new window treatments and furniture because your furniture will not be the right fit. The list goes on and on.

The Bottom Line:

Do you want to add value to your real estate portfolio without adding more tax expenses to your budget? Would you prefer to pay all that money to other parties or spend that money and invest it in your current home to update its value and keep your taxes the same? Just think what $100,000 in home renovations would do for your home. It would be customized to your needs and taste without having to deal with the upheaval, change and worry moving brings to a family.

These questions encompass things to discuss with your family when considering a move or alternatively a home remodel.

So let me pose the questions again,

"Would it just be easier to move??"

Maybe not!

Why not give us a call and see what we can do for you?


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