Buying or Adding onto Your Current Louisville Home
- Pros and Cons of Adding on or Buying
Below are a few factors you may want to consider to help you decide whether to add on to your current Louisville home or to purchase a new Louisville home:
- How much money you have available, either in the form of cash or home improvement loan, to renovate your current Louisville home.
- How much equity you have in your current Louisville home.
- How much additional space you need? Do you have a way to add onto your home? Is there room to expand on the ground level? Would the foundation support another floor?
- An understanding of the rules with local zoning and building ordinances.
- If there are properties in your price range that would satisfy your new housing needs.
- If it is important that your improvements add value to your Louisville home or are you mostly focused on your comfort and needs, and less on resale value.
- Choosing Between Buying and Renting a Louisville Home
There are many advantages to owning your Louisville home, including tax benefits and the freedom to make decisions about your home. As a home owner, if you secure a fixed rate loan, you can lock in your monthly principle and interest payment. Your taxes and insurance can still adjust. If you choose to rent a Louisville home, you are at risk of increasing rental cost. Of course, there is a lot less worry about home maintenance if you opt to rent a Louisville home as opposed to purchase. Buying a Louisville home can be stressful--please know that I'll always deliver level-headed guidance and capable expertise.
- Getting the Scoop on Louisville Homes
An experienced Louisville realtor can provide information to help you make an informed decision. Please don’t hesitate to contact me if I can be of help.