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Do
you like your current neighborhood?
If you're happy with your neighborhood but are moving because you
need more space or want a more luxurious home you may be able meet
your needs with a renovation or addition. |
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Is
your lot large enough?
Before you can even consider a remodel you need to make sure that
your lot is large enough and that the zoning
allows the type of project you require. |
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Is
your home suitable?
Not all homes are ideal for remodeling. While you may be able to force
a renovation on an unsuitable property, but the results are liable
to be disappointing and the costs high. |
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Do
you want the headaches?
Home improvements can be difficult and time-consuming. It's important
to determine if you are truly willing to educate yourself and put
up with all the hassles involved - not the least of which is the disruption
to your life while the work is going on. |
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Consider
the financing.
Improvement financing is different from a mortgage loan for purchasing.
If you have sufficient equity
in your home you can probably work with a home
equity loan. If not, you'll need to get a construction loan that
is based upon the value of the property after the project is complete
- and this is more expensive and complicated financing. |
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Do
you have a contractor?
Finding a good contractor is not always easy. If you have someone
you've used before - or someone recommended by a trusted individual
- your projct will probably be a lot less stressful. |
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How
long will it take?
Some projects can take a considerable amount of time - even more than
selling and buying a new home. Don't forget to consider the time spent
working on a design, picking out materials, and hiring contractors. |
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