Is It Time to Move or Improve in San Diego?

Your neighbor’s home has been on the market for 2 months and you’d like to get top dollar for yours…but is it worth the time?  When you bought the property, you figured that you’d move in a few years and sell it.  Of course, back then house values were climbing 20% minimum per year and everyone was saying that San Diego real estate would ‘never go down.”

But now little Johnny is 10 and he can’t share a room with his brother anymore.   What to do?

First of all, what do you owe on the home?  One in four homeowners nationwide owe more than the home is worth.  To calculate what you owe on your property click here.

While the value of your home is a bit gloomy, the good news is that costs to renovate and build are down.  As a general rule, improving costs less than trading up.  The cost of drywall is down 25%, lumber is down 42%, plywood is down 45% and contractors are charging less for labor.

How to choose?  First, estimate what your home is worth.  Second, have a look at the “Cost vs Value” in Remodelling magazine.  Lastly, make it fun.  If you are going to remodel, pick you project wisely but enjoy it, after all, it is your home where you will be for years to come and you’ll want to be happy there.

Happy home selling!