If you are thinking of moving up or to
a new home, consider the advantages of staying and
adding on. You should consider why you need to move.
From a cost standpoint, moving can eat up a
significant amount of your hard earned equity! First
you have the realtors fee! Typically 5-6% then add in
improvements to help sell your house. A fair guess
even if the improvements are small is 2-3% of your
homes value. Moving costs vary, so lets assume 2%
closing and/or application fees are typically 2% of
your new homes value. If your house sold for 150,000
dollars, you would lose about 12,500.00 dollars in
equity! Realistically, you can expect quite a few
hidden cost as well. If you put that same money to
work in your home now, you would see the value of your
home increase and give you the space you need. Truly,
this can be considered found money. By the staying and
improving the home you have, you can put your money to
work for you.
