Home Design in Arizona: Renovate or Relocate? – Part 1
Given the economic turbulence of the past several years, homeowners are looking to home design in Arizona rather than moving to a new house. It’s been a catch-22 for many homeowners. They want to upgrade so they have new space and features that better meet their requirements. Falling home prices and interest rates make buying a new home enticing.
But, what do they do with their current home? In some markets, it takes months and months to sell a home. And, if and when they sell, they often get a much lower price than desired. In some cases, homeowners owe more than their homes are worth. So, selling isn’t even an option.
If buying a new home is an option, some homeowners may find difficulty getting exactly what they want. Plus, with tighter lending standards, they may not be able to get the best loan terms or even qualify for a mortgage. So, making the “renovate or relocate” decision is a necessary exercise in numerous situations.
Why More Homeowners are Choosing Home Design in Arizona
Although today’s “buyers market” is touted as the best in years, it’s also not all it’s cracked up to be for the reasons listed above. First time home buyers can definitely benefit. But, if you’ve got to sell your home to buy a new one, the waters can get a little murkier.
Homeowners may renovate rather than move for a number of reasons. They may have a growing family and need more space. Or, they may want new amenities they can enjoy that will also add value to their home. Updating old kitchen and baths are popular choices too.
Another reason homeowners may renovate is to make their home design in Arizona more “elderly friendly.” In other words, if you’re retired and expect to stay in your home for the rest of your life, you may need to add features that will help you as you age. Handles, grab bars, removing stairs and other construction techniques can make it easier and safer for older adults.
Some homeowners have even looked at ways to generate income from a new home design in Arizona. For example, adding a room addition might make renting space a viable source of income.
In part two we will show you a few ideas on how to turn your existing home into your dream home. To see how Republic West Remodeling can build your dream home, contact us today.