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April 18, 2008 ( PowerHomeBiz
) - Sunnyvale, CA --
If you’re a homeowner looking for a change, this is a tough time to make a
decision. The price you can get for your home probably has dropped, but then
again, the home you might buy also is less expensive. Interest rates are
falling and the government is offering rebates for energy efficient remodels
as part of an economic stimulus package. Also, remodeling costs are
increasing due to inflation. These are just a few things savvy homeowners
need to consider when they decide it is time for a change.
(news continued below)
Dan Fritschen has a suggestion: Go to
www.remodelormove.com , a
homeowner support resource that provides objective and unbiased advice,
before making the “remodel or move” decision.
“Too many people make the decision to move when they actually might be
better served – financially or emotionally, or both – by remodeling
instead,” explains Fritschen. “And, of course, the opposite also can be true
in many cases. My web site is a safe haven for homeowners who know they want
a change bur aren’t sure exactly what that change is. I have no agenda to
promote. I simply want to provide impartial information so individual
homeowners can make the decisions that’s right for them.”
The web site’s centerpiece is the Remodel-or-Move Calculator. This free
online analysis tool helps you determine your best financial course by
calculating the cost of your hypothetical remodeling project vs. the cost to
move. Then, it helps you determine your “gut feeling” about the decision,
based on your feelings about your neighborhood, your home, and the
remodeling process. Taking all of these factors into account, the Calculator
makes a recommendation geared specifically to you, your lifestyle, and your
unique needs.
But the Calculator is just part of the story. The site is a clearinghouse
of practical information. It offers articles on various aspects of moving
and remodeling: good reasons to move, good reasons to remodel, the
advisability of various projects based on length of time you plan to stay in
your home, etc.
Consider the following statistics and facts, excerpted from
www.remodelormove.com :
Five million families spend more than $80 billion to sell their homes
each year, many because they choose not to remodel. Other homeowners spend
$200 billion to remodel instead of moving. Either way, most families will
spend tens of thousands of dollars.
A very common misunderstanding is that moving is free. In truth you can
spend up to 15 percent of your home’s value for expenses associated with
getting it ready for sale, the broker’s commission, closing costs, moving
expenses, and the cost of decorating your new home. For a typical $200,000
home, that 15 percent is $30,000.
It’s easy to overspend on remodeling for two reasons. First, since many
homeowners remodel only once or twice in their lives, they often don’t know
how to shop around for the best prices on the work to be done or the
materials to be used. Second, they get caught up in the excitement and spend
money on upgrades and features they don’t really need or want. So, if you’re
going to remodel, take time to become educated. Websites like
www.saveonmyremodel.com
are a great resource to learn how to save.
Much of the information on the web site is from Fritschen’s book, Remodel
or Move? Make the Right Decision (ABCD Publishing LLC, 2005, ISBN
1933007699, $15.95).
So who should visit the web site? Fritschen recommends it for any
homeowner who knows he or she wants a change and wants to avoid making the
wrong decision.
“Don’t underestimate the importance of this decision,” he urges. “Too
many people see their friends move to a new home or install an extravagant
new kitchen and immediately want to do the same. But it’s easy to see the
glamour and not so easy to see the hard work and money that’s involved. Both
choices can be expensive and cause major upheaval, especially in these
tumultuous times – with home prices down, the stock market down, and
interest rates falling. That’s why you should empower yourself with plenty
of information before you take the plunge. Then, when the dust settles,
whether it’s dust from the moving trucks or the contractors, you can enjoy
your new home without regrets.”
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