by Merri Ann Simonson

https://www.sanjuanislandslifestyle.com/

While showing property I am often asked if the home could be renovated and/or increased in size as the lot is perfect, but the home is too small or too dated for the prospective buyer.

As I have said numerous times, it is still more cost effective to buy existing and remodel than it is to build new construction. With mid-priced new homes, the cost is $500-750 per square foot, and it is 24 months before you can walk over the threshold. High-end priced homes will be $1,000 + per square foot.

If you are buying a home that you intend to remodel, your feasibility study should include some of these items. These tests and research should be done prior to closing so you know that your intended remodel can actually be approved.

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