Renovating vs Buying a New Home

There are many Tampa Bay area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here to learn about our “Your Home Sold Guaranteed in 29 Days” program or for a free property valuation so you know what your home can sell for in today’s market. You may also call me at (813) 359-8990 for a FREE home buying or selling consultation to answer any of your real estate questions.
Andrew Duncan, Tampa's #1 Realtor and David Diaz from Waterstone Mortgage talk about consumers that are thinking about remodeling or upgrading their home vs buying a new home and the pros and cons of each.

Based on personal experience, Andrew shares how living in the home during the renovations could be a nuisance. Another con is that most of the time, doing renovations would mean cash out of your pocket. David mentions one of the programs being offered by Waterstone Mortgage where the buyer has the option to add the cost of the renovations to the mortgage so that instead of paying a mortgage and paying cash for the renovations, everything will be built in. You have to be flexible with your budget because some things may come up that need more attention while they are doing the work on the house. One also needs to consider the time it will take to finish the renovations. You would need to allow a little bit of allowance to how much time will be needed.

Some of the benefits of buying a new home is the lower insurance, the upgrades that are already existing in the new home and there are less anticipated problems. The only issue may be that there are not as many new homes available in certain areas.

So whether you decide to buy a new home or renovate an existing one, make sure you weigh the pros and cons so you can make the best decision depending on your situation.

To get more Tampa Bay Real Estate news and advice from Tampa Bay's #1 Realtor, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sunday at 10 am.

No comments :

Post a Comment

Note: Only a member of this blog may post a comment.