You wake up one day, kids are gone and you and your spouse are living in a 2500 sq.ft 4br home. Should you sell your home and find one that better fits your needs or make changes to your current home to fit your lifestyle?
It's been a record number for home improvement sales but is it really the best long term option for you?
You most likely purchased your current home with your kids in mind, (location, school district, community make up, and size of the lot and home). Obviously, as time has passed, so has your needs and wants. You no longer have the bedrooms filled and now you're climbing a set of stairs to your bedroom and mowing a huge lawn.
Your current needs may be combining two bedrooms into one large master bedroom suite, turning a bedroom into an office, or remodeling bathrooms to fit your needs. But, by doing this, you may limit the potential for new buyers to want these changes made to your home.
To top it off, it's estimated that only 64.4% of dollars spent on remodeling are recouped.
It may be more beneficial for you financially to sell your home and find one that meets your current and future desires/needs. Home values are on the rise, yours may be at its peak right now. Your new home will most likely be smaller, more efficient with less utility bills, maintenance, and lower taxes.