I would be happy to come over and give you an evaluation of your current property. Thanks, Tom Inglesby, Broker, RE/MAX
That IS a great neighborhood. In order to answer your question though, you would want to gather a little more information.
1. How much of an investment are you talking about in order to get your house remodeled to the your standards to continue to live there long term?
2. How much would your home sell for in the current market with out any updates.
3. What could you buy with the net profits that you could get from your home sale.
That would allow you to see how best to use your savings. Whether you take the money and purchase in a different area and house. Perhaps one that you feel may have better neighbors or surroundings. Or if you wouldn't be able to find something that is better or at least equivalent with the updates that you would want, then perhaps doing the remodel is a better use of money.
Gathering basic information for the 3 questions above is fairly simple.
That is the ultimate question, isn't it?! My wife and I debated back and forth on this issue for 4 years...
The best place to start is with a market analysis to see where your home currently sits in today's market. Then, we can factor in your additions to see how they will affect the value of your home and if it will be worth it financially. Then you compare the numbers against what you can get in today's market for the price you are willing to pay if you were to leave the home.
I have worked with numerous clients on this very issue. Let me know if you would like my assistance.
1) Have a comparative market analysis done by a reputable real estate broker. I am happy to put these together for clients to help them make sound decisions. The market analysis will factor in the location and any challenges your property may have
2) Talk to reputable builders/remodelers to get ball park numbers about the costs and feasibility of your project.
3) Finally, look at what is currently on the market to see if you can find another home within your budget that you would be willing to move into.
Let me know if there is anything that I can do to help you out. You can also learn more about me by visiting my web page at: http://angela.kniperealty.com/