May 22, 2014
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Why Remodel?
"Skyrocketing home prices are likely causing already cautious homeowners to hold off on selling and moving, because while they can get a good price for their home, what they can buy isn’t necessarily bigger or better. So they’re deciding to plunk extra savings into their homes to make them more functional." “Most people have just a sliver of equity in their homes right now,” she adds. “If you’re looking at moving, the cost to move is sometimes more than the equity you have in the house. If you have $30,000 in equity and the cost of moving is $30,000, people are saying, ‘Let’s put that money toward a remodel and stay put.’” This rings true for so many of us Portlanders. We are working on a checklist for space conversions, things to look for and price ranges for conversions of attics, basements, and garages. Some of this will include height requirements, stairs, egress, and bathrooms. So many of us have potential to increase the space and value of our homes while staying in the neighborhoods we love, and in the house we have already invested so much in to.
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