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Remodel / Add on or Sell - Weighing Your Options

Friday, October 7, 2016   /   by Jason Huerkamp

Remodel / Add on or Sell - Weighing Your Options

As Real Estate Agents we have heard this many times "We love our home, our neighbors, our community. Our Church is in the area and the Schools are fantastic and we really don't know whether to remodel or move" 

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Its a tough choice - so here are some factors to think about.

- If you remodel/add on how long will it satisfy your/family needs before you need to consider a move again
- If you add on in one area, will it change the flow of the home
- If it does change the flow what are the consequences
- Can your relationships withstand a remodel
- What are the financial implications
- Do you have the time to deal with this
- Do you have a reliable contractor

If you remodel and add a room then

    • - Do you have the space for the addition
    • - Are there any septic or other rules that may not allow you to make the addition
    • - What is the cost of the plans
    • - What would be the cost of the construction
    • - What other changes may you need to make in order to get the job completed
    • - What inconvenience may this cause to you and those who live with you
    • - Would you need to make arrangements to stay elsewhere during construction and if so, at what cost
    • - Would there be any subordinate costs hotel. tool hire, insurance, liability insurance etc

Rule of thumb is that to move will cost you approximately 10% of the value of your property. Agents fees, moving costs, closing costs, etc 

What Would The Remodel Cost?

    • - Its a good idea to get three quotes from three recommended and reputable contractors
    • - Check their references and be sure they are able to complete the job timeously
    • - Are they licensed and insured
    • - Have you seen the quality of their work?

Talk to a Realtor

It would also be a great time to get advice from an experienced Real Estate Agent who will be able to help you with a valuation on your home as it stands and give you a fair idea of what the improved value of your home will be in today's market. Allow the agent to give you a comparable marketing analysis so that you can make a calculated decision whether you should sell or remodel. Don't allow your heart to rule - let it be a head decision first. Be sure that you would be able to recoup your money if you had to get your home sold.

Whatever your decision, the Huerkamp Team will be there to assist you with your decision.

The Huerkamp Team are your real estate specialists in the Twin Cities and surrounding communities of Minnesota. We are ranked in the top 1% of agents nationwide! The Team is dedicated and experienced in the Twin Cities real estate market and we look forward to being your real estate agent for life! You will have a great experience buying or selling real estate.  We have many raving fans and the experience to deal with your real estate transaction.
Huerkamp Home Group
Jason Huerkamp
14300 Nicollet Court # 208
Burnsville, MN 55306

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