{"id":883,"date":"2017-07-01T23:14:04","date_gmt":"2017-07-02T04:14:04","guid":{"rendered":"https:\/\/lawnandhome.com\/blog\/?p=883"},"modified":"2017-10-20T12:24:25","modified_gmt":"2017-10-20T17:24:25","slug":"the-ultimate-guide-to-moving-and-remodeling-in-raymore-mo","status":"publish","type":"post","link":"https:\/\/lawnandhome.com\/blog\/2017\/07\/the-ultimate-guide-to-moving-and-remodeling-in-raymore-mo\/","title":{"rendered":"The Ultimate Guide to Moving and Remodeling in Raymore, MO"},"content":{"rendered":"

\"greggs<\/a><\/p>\n

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You\u2019ve started in the right place if you are looking to make a wise financial decision for your family. Reading up on remodeling verses moving costs in Raymore, MO will help you make the best decision. A lot of your money is spent on your home so we hope this article will be a neutral tool for you to see the pros and cons of moving or remodeling in Raymore, MO.<\/p>\n

This is really the Ultimate Guide for your family, friends, and co-workers.<\/p>\n

We truly want you to make a wise buying or remodeling decision, so as you consider your budget; make sure it is realistic and that it doesn\u2019t stretch your financial situation whether moving or remodeling. Figure it on what you can afford today and not on expectations of the future. Don\u2019t trap yourself into something that you cannot afford and cause unneeded stress, family issues and cash shortages because of a poor financial decision.<\/p>\n

If you are considering a remodel; make sure you choose a quality licensed and fully insured contractor. Remodeling is expensive, but it can be extremely expensive and problematic if the wrong contractor is chosen. Remember that with a remodel you usually won\u2019t recover 100% of what you put in. For a typical kitchen or bathroom remodel in Kansas City, your home value will increase by around 50-80% of what you put into it. In our estimates, we assume you\u2019ll get back only 70%.<\/p>\n

If you are considering buying or selling your home; be sure to use a top-notch realtor. We all have a friend or family member that \u201cgot their realtors license\u201d for a side job. Is he\/she really the best choice for your large financial decision that you are about to make? You might make grandma upset for not using Aunt Sue, but who cares; it\u2019s your money and one of your larger investments.<\/p>\n

There are a lot of sneaky cost in buying and selling a house. Your home might need to be freshened up before it will sell. Moving results in a lot of money lost due to sales commissions, closing costs, moving costs, and other transition expenses.<\/p>\n

Does it make more sense to remodel your current home or to move to a better home in Raymore, MO?<\/b><\/p>\n

Moving vs Remodeling In Raymore, MO<\/b><\/p>\n

Buying A New Home In Raymore<\/b><\/p>\n

The average Raymore home is worth $178,250, here are the costs of selling your home and buying another.<\/p>\n

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  1. Current Home Value:<\/b>\u00a0$178,250<\/li>\n
  2. Cost Of A 20% Nicer Home:<\/b>$213,900<\/li>\n
  3. Commission To Sell Your Home:<\/b>\u00a0$9,804 at 5.5% commission<\/li>\n
  4. Estimated Closing Costs To Buy A New Home:<\/b>\u00a0$8,021 at 4.5% of the home price<\/li>\n
  5. Estimated Moving and Transition Expenses:<\/b>\u00a0$1,337 at 0.75%<\/li>\n
  6. Total Cost To Move From A $178,250 Home To A $213,900 Home:<\/b>$54,812<\/li>\n<\/ol>\n

    Remodeling In Raymore<\/b><\/p>\n

    Next we’re looking at remodeling an average Raymore home with a budget of $54,812.<\/p>\n

      \n
    1. Current Home Value:<\/b>\u00a0$178,250<\/li>\n
    2. Remodeling Budget:<\/b>\u00a0$54,812<\/li>\n
    3. Net Loss At 70% Efficiency:<\/b>$16,043<\/li>\n
    4. Value Added:<\/b>$37,433<\/li>\n
    5. New Home Value:<\/b>$216,000<\/li>\n<\/ol>\n

      So for an average Raymore, MO home we assumed a budget of $54,812. If you bought a new home you could end up with a home value of $213,900 and the new home value after renovating is almost the same at $215,683. Either of these estimates could be off by $17,825 in either direction so make sure you talk to a realtor and contractor for specific quotes.<\/p>\n

      What Does This Mean?<\/b><\/p>\n

      As you can see, on paper, the numbers could be fairly close between moving or remodeling. There are many other things to consider. What are the Pros and Cons of remodeling, moving and buying a home?<\/p>\n

      Pros and Cons<\/b><\/p>\n

      When it might make sense!<\/b><\/p>\n

      It might make sense to move when your current home:<\/b><\/p>\n