Homes suffer from damage and natural wear and tear. Without proper maintenance and upkeep, a home can fall into disrepair. Some potential investors purchase these run-down homes, fix them up, and sell or rent them. Generally, when you purchase a home, a home inspection is required. Unfortunately, your inspector may not uncover every major problem. After moving in or buying the home, you may come across major issues, such as termites, a weakened foundation, or a severely damaged roof.
Whether you have bought a handyman’s special or your existing home is in need of major repairs, at some point you should consider whether it is more reasonable to start from scratch instead of remodeling. Here are some tips to help you decide between new construction Broward and remodeling or renovations.
Make a List of the Major Renovations That You Need
The first step in deciding between renovations and new construction is to make a list of all the major renovations that your home needs. If you need to contact a home contractor in order to get an estimate for these renovations, let them know in advance that you are trying to decide between renovations and new construction. They may try to sway you towards remodeling, but a reputable contractor will offer honest advice.
Determine If the Housing Market is in Your Favor
Once you have a list of repairs, you should begin looking at the current housing market. Determine if it is currently a buyer’s or seller’s market. Check current interest rates from lenders and banks. You may find that it is more cost-effective to tear the whole home down and start from scratch than to spend money on repairs to make the home livable again. In this case, new construction Broward could be a more suitable option.
For additional advice and recommendations, contact a local home contractor or construction company. In the South Florida area, TGS Construction is the name to call. Browse the rest of this site to learn more about their valuable services.