| As time goes by, changes in lifestyle and that | | | | the area offers. |
| caused by the growing family will inevitably pose | | | | However, if you stay and renovate, you will not |
| issues that can either be resolved by renovating | | | | only be improving the family's quality of living but |
| or buying a new home. One great thing about | | | | the home value as well bringing it up notches |
| these options is that, either way, you can be able | | | | from when you bought it. |
| to get the best deal if you do your research right. | | | | Inconveniences |
| With the New York housing crunch and the down | | | | Though you and the family would have to bear |
| economic condition, both the real estate market | | | | with inconveniences whether you choose to buy a |
| and contractors are feeling the pinch and the | | | | new home or renovate your current one, the |
| tougher competition will help you get bargains for | | | | trouble that one goes through are at different |
| better quality. | | | | levels. With renovation, you and the contractor |
| But don't get too excited and rush the decision as | | | | can make arrangements so as not to disrupt the |
| there simply is too much at stake. There are | | | | daily routine of the household too much. Buying on |
| considerations that you should carefully deliberate | | | | the other hand would mean having to start all |
| on to land with the option that would benefit the | | | | over again and even being homeless for |
| family and your bank account. This article lays out | | | | sometime. Settling into the house and making |
| the pros and cons of renovating your old home | | | | things appealing and comfortable can take weeks |
| versus buying a new one with information ideal | | | | to months. |
| whether you are in Brooklyn, Manhattan, Queens, | | | | When to Move or Stay |
| Staten Island or Long Island. | | | | Before owning the home that you and your |
| Costs versus Profits | | | | family are currently living, you have gone through |
| If you decide to buy a new house, you would | | | | all the hassles of finding one that offers what you |
| have to sell the home you and the family is | | | | need and is in a viable location. Why throw |
| currently in. For most homeowners, the largest | | | | everything away and go through all the difficulties |
| chunk from where they would have to get the | | | | again? |
| money to buy a new house is from the resale of | | | | If the problem is something that a renovation |
| their homes. With the housing costs still down, | | | | cannot answer to like the size and look of the lot, |
| chances that you'll get a good return on the | | | | schools, location and neighborhood then go ahead |
| seller's market is less likely. To get an idea if your | | | | and buy a new home and move. But if the |
| profit would be enough to cover moving out and | | | | problem is mainly the house not being able to |
| buying, have your home value assessed first. | | | | accommodate the growing needs and wants of |
| Your best bet to getting more is moving to a | | | | the family then renovate. Keep in mind that you |
| neighborhood with lower property area or value, | | | | are renovating not just to invest in the house but |
| but then you would have to make do with what | | | | in the quality of life as well. |