To Move or Improve? 

Making the decision between adding on to your existing home or moving can be a complex one to make. On one hand, it is a buyers' market right now so you may be able to get a bigger or newer house - or one that holds the desired amenities your current home doesn't have. But on the other hand, in order to get that house, you need to sell your existing one.

That's just one aspect of the Move or Improve decision. 

So how do you make the decision to stay put and add-on?

One factor to consider is whether or not you have the space to add-on. A house that is short on space but is located on a larger lot is the ideal candidate for an addition. You also have to consider any zoning restrictions your township may have.

Another factor to consider is not just the Return on Investment (ROI) from the improvements you make to your home, but also (and perhaps more importantly) your Return on Enjoyment (ROE). Think about it: Once you renovate and add-on to your home, you can wake up every morning and find sanctuary and enjoyment in your newly improved home.

When making this "Move or Improve" decision, you also need to consider the true cost of moving, which is often underestimated by buyers. In addition to the costs of boxes, packing tape and the moving truck, you also need consider Realty Transfer Tax (RTT), points on a mortgage, title insurance and other fees. At a minimum, this is going to be 3 percent of both sides of the transaction - selling your home and buying your new one. So if you sell your home for $250,000 and purchase your new home for $400,000, you should expect to pay 3 percent of each of those values when you move, for a total of $19,500.

Finally, you can't discount the emotional attachment to your current community. You know your neighbors; your kids are involved in their school and know their bus route. Over the years, you have discovered the "back ways" to get to shopping plazas, work and your favorite restaurant. All these change if you move, but are part of your overall Return on Enjoyment should you choose to add-on instead.

Bottom line: When making the choice to move or improve, don't overlook all the important factors that go into your decision. This will help you make the choice that's right for you and your family.

Concept to Completion Series

In each issue of this newsletter, we will briefly review one of the stages every one-of-a-kind project must flow through in order to reach successful completion.

Previously discussed steps can be found here: 

Step 1: Begin with a concept.

Step 2: Seeing the end at the beginning.

Step 3: Finalizing the design by making selections.

Step 4: Reaching Agreement.

Step 5: Job Start Up.

Step 6: Consistent Communication.

Last month in Step 5, we covered "Job Start Up," your "peace-of-mind" step that gives you full confidence that the contractor you hired will get your project completed on time. 

In Step 6, the project leader schedules a pre-construction meeting with you. The purpose of this meeting is to review the job documents (design, selections, etc.) and the processes that will be used throughout the construction phase. Additionally, we'll establish a sound basis for communications that continues to give you, the homeowner, peace-of-mind that your project is moving along as expected.

At this meeting, we will spend as much time as needed to answer all of your questions and quell all of your concerns about what to expect on a daily basis. We understand that this is your home, so in addition to running an efficient job site, we also want to be sure that we do what's needed to make you feel comfortable. Some of the areas covered during the pre-construction meeting include relaying our commitment to a clean and safe job site for our workers and your family, as well as how we plan to accomplish this. We also discuss items like your pets, typical job hours and where to park our vehicles.

Perhaps the most important aspect of the pre-construction meeting is to establish how best to communicate with you during the construction of your project. As we've said all along, it is our goal to make the job as predictable as possible; however, if an adjustment needs to be made, we also have systems in place to do so.

This is why we value consistent communications so we can always provide you with a clear picture of how the project is coming along and will look at completion.

Are you ready to begin your one-of-a-kind project? Start here >> 

Fireplace Tune-Up 

Your natural gas fireplace is perhaps one of your favorite features of your home, adding comfort and warmth to your home during the cold months. But don't forget to add Fireplace Tune-Up to your list of things to take care of this spring. Most gas fireplace manufacturers recommend a tune-up every 2 to 3 years to keep your fireplace operating safely and efficiently.   

Our purpose for bringing you The Construction Connection is to share our wisdom. We have seen it all and yet there is so much more to learn every day.

For nearly 45 years the divisions of EGStoltzfus (Neighborhoods, Designed Homes & Remodeling, Commercial Construction and Handyman) have been Building Better and Creating Value for more than 7,000 property owners. The collective wisdom of our team is the key to a predictable outcome for each and every project.

In this forum we will be reaching out to offer specific how-to's for caring for your property and improving what you have, as well as suggestions as to what to do when it's time to start anew. Additionally, we will provide you with information on market conditions, technology updates, codes and legal concerns, design trends and many more topics we feel can connect all our readers to Better Value.

The team of EGStoltzfus Homes is always available to answer your questions and advise you through a remodel or new home construction project.

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