01 Mar Love it or Leave it? Renovation, Addition or New Construction?
There are a multitude of factors to consider when making the decision whether to renovate or put an addition on your existing home, or to move on to a new construction home.
Finances, family situation, location, timing and stress are just a few items on a long list. And there’s no right or wrong answer…it’s an intensely personal decision. Asking the right questions and finding the right general contractor from the start can help you make an informed decision, and the best one for your family.
What can you realistically budget?
With both remodeling renovations/additions and new homes, costs can add up fast. We can help you create a budget for your renovation wish list so priorities can be established, and you can have a full understanding of expenses. We can also provide an estimate for a new construction custom home for you, so you can make the comparison and make an educated decision.
Do you have room to expand?
Not every piece of property has enough room to fit a significant square foot addition. Variances (we are experts in Westfield and Scotch Plains regulations/process) can allow for you to build beyond the standard zoning regulations, but approval can be a lengthy and costly process. A prudent first step is to figure out the size of addition that you’re looking for, and determine if your property can accommodate that. If you share your surveys with us, we can help with that process. With a full-time in-house design/planner, we can help you determine the best path.
Can you get what you want out of your current home?
Working within your existing footprint is a definite option, but there are some limitations. Although walls can be removed to create open spaces, it is possible that you may not be able to create your dream house. Our design/planner can help you visualize what you can get out of your current house.
Do you love your neighborhood?
Your neighborhood might be the deciding factor on whether you stay and remodel or build a new home. Good school districts and neighbors, quiet streets and an easy commute are all reasons to improve renovate on the home you have. While moving brings an element of excitement through the unknown, good or bad, you can’t always pick your neighbors. And it’s certainly not always easy to find a great plot of land in Westfield, Short Hills, Scotch Plains or Cranford.
Does this renovation make sense?
It’s important to make sure there is value to what you want to change in your home. Is “return on investment” a main concern, or is this remodel primarily for your family’s enjoyment? Its impossible to predict where the housing market will be 5 or 10 years down the line, but any addition or renovation needs to make sense for the home.should be a financially sound investment. Luckily, Westfield, Scotch Plains, Garwood, Fanwood, Millburn and Short Hills are all in high demand, with real estate either steady or increasing in value.
Are you ok dealing with the inevitable stress of remodeling?
Remodeling is no doubt disruptive by its very nature. You have to plan to be inconvenienced by either living through the renovations (get ready for take-out while your kitchen is being remodeled!), or moving out until they are complete. And there are constant decisions…and purchases…to be made. Purchasing a new home seem like an easier route, but it may not be possible to find your dream home with a layout you love and in the town you want to be in. Sometimes a little stress is worth the investment for a truly personal result. While building a new home involves the stress of decision-making and constant purchases, you may have the luxury of staying in the comfort of your current home during the process. We can help you navigate this, and are familiar with rental options in Westfield and Scotch Plains.