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ERA Justin Realtor professional Albert “Al” Rottini offers suggestions on renovations vs. buying in the current real estate market. Al services buyers and sellers throughout Bergen, Passaic, Essex and Hudson Counties.
To Remodel or Not to Remodel in Today’s 2012 Real Estate Markets
Suggestions by ERA Justin’s Albert “Al” Rottini
Sometimes the house that was once your dream home is challenged by the changing realities in your life as well as modifying real estate values. Then it’s time to decide whether to change the house you’re in, or just change houses.
Your family may not be the same one that originally moved in – kids arrive, or people start to work more at home, and the house suddenly seems smaller or unsuited to new needs. Or maybe your new-home search has just been taking too long, and you’ve decided to try and make your current one “new” instead. These choices should be given serious considerations in the current economy. Current real estate values may strongly dictate a new purchase rather than extensive renovations.
This is a major undertaking that calls for serious consideration before moving forward. Are you so happy with your current neighborhood that you’d like to do as much as possible to avoid moving, or are you ready for a change of area? Can your family take the strain, and your business the disruption, of a project that will demand a significant shift of routine and even displacement of living arrangements?
There are practical considerations to add to these emotional and financial ones. You’ll want to find out if the changes you have in mind are compatible with local planning, zoning and building rules. And you’ll want to consult with designers and architects as to the feasibility – and approximate cost – of those changes. A related and crucial consideration is the future value of your house for resale if you remodel but still later wish to move. This is important because increasing your home’s resale value through renovation is not necessarily a given that you will retrieve those expenses at time of the sale.
According to ERA Justin Realtor professional, Albert “Al” Rottini, having a vast business background of thirty years in residential construction, “The reason is not just that remodeling can compromise a home’s aesthetics and efficiency – though this is a significant concern; rather than buying another home to suit new needs, remaking one forces you to work around existing systems (such as plumbing) and can lead to eccentric and unwieldy spaces. The consequences of the renovation working “too well” could be equally disadvantageous to you: a house that is much bigger than others near it, or otherwise uncommon in its neighborhood, can disrupt its location and be priced beyond what anyone looking in that area is willing to pay.
To make sure all of your domestic dreams are good ones, do some planning and consider consulting an ERA Justin Realtor professional who can make suggestions from architect and contractor referrals to suggestions on what renovations, if any, might be right for your market. We provide for potential sellers, at no cost or obligation, a comprehensive comparative market analysis (CMA) which will substantiate facts and figures you need to make good business decisions.”
ERA Justin Realty proudly received the prestigious ERA 2003 through 2011 ‘Commitment to Excellence’ Award, selected from approximately 30,000 ERA real estate agents globally. Additionally their ‘Real Estate Results in Writing’ written 700 buyer and seller testimonials suggest reasons why ERA Justin Realty has been a buying and selling Realtor of choice for thousands.
For more information consumers can reach the ERA Justin Realtor professionals at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue. By phone at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD. Additional real estate information is also available at the firms 1000’s of homes website at www.ERAJustin.com and http://www.erajustinrealty.com/.
