An important question homeowners eventually ask themselves is “Should I move or remodel?”
The cost of selling your home is typically about 8 to 10 percent of your home’s value. So unless you are building a new home from scratch, the chances are that the home you move to may likely need the same modifications as your current home.
In fact, the American Home Owners Association states that the cost for selling your home and moving is at least 10 percent of your current home’s value—which only covers such costs as real estate commissions and the termite inspection.
But note that this amount does not include the following extraneous costs:
• The actual moving and storage costs—which could be an additional several thousand dollars—depending on the distance of the move and the weight of your household belongings.
• The cost of any cosmetic work that needs to be done to put the house on the market.
• Any housekeeping services to maintain the house while it is on the market.
• Any discrepancies between the listing price and the sale price.
• And of course, the risk of not selling the home.
So remember to keep the actual cost of selling in perspective. On a $150,000 home, this cost is $15,000—but this is simply the cost of the sale. In actuality, the total costs of moving can be much greater.
If you’ve decided to stay put and make some bathroom modifications to help you or your loved ones age in place, the next question to ask is if you know how to choose a contractor for this design and remodeling work?
All contractors, in most states, must be registered through your state’s Attorney General Office. The first important question one should ask before choosing a general contractor is “Who can you trust?” Your state’s Attorney General Office website should maintain a list of registered contractors. This is a good place to start. Secondly, as we mentioned in a previous blog post, ask for referrals from friends and family.
Since your home is your biggest investment, improvements should be considered an extension and continuation of this investment. Home improvement and consistent maintenance will protect and enhance your investment and ultimately reduce your expenses. Home improvements are a long-term investment in the value, convenience, and the marketability of your home.
Even if your home improvement project just consists of remodeling your bathroom, these are the primary benefits:
• Increase in your home’s value;
• Greater return on your investment;
• Staying in your home longer improves your quality of life;
• Gives your family a more valuable asset.
Are you thinking of renovating or making some simple changes to your bathroom to make it more accessible? Let us help. Village Craftsmen offers a THRIVE Bathroom Design Safety Program to not only help you age in place, but thrive in place. An in-home, experienced rehabilitation technician will:
* LISTEN to your concerns regarding bathroom safety
* ASSESS your bathroom with the Thrive Safety Protocol
* PROVIDE you with recommendations for your safety & fall prevention
* ARRANGE for a quote to install safety enhancements if you desire
To learn more please complete the form on this page or call 330-896-2000.