Remodel or Replace?

You bought beautiful land in the 1970-1990’s and put a nice Manufactured Home on the property.  You love the location, neighbors, outbuildings and gardens, but the house is dated and needs some repairs.  You can keep the things you love about the property by remodeling the existing home, or removing and replacing it.  Some thoughts:

Remodeling

Anyone that has ever started a remodel, has found that it is NEVER simple!  There are always surprises: dry rot, bug/critter infestations, mold, foundation and roof problems.  What starts as a simple kitchen counter remodel, changes into striping everything to the studs and replacing floor joists and decking.  Then “If the kitchen is new, we had better do the bathrooms at the same time”. Repeat for both baths.  Now the rest of the house is shabby, more updates.  Besides the mess and inconvenience, the stress of choosing from zillions of cabinets, counters, flooring, knobs, lights, paints etc. can be overwhelming.  Is it time to re-do the roof as well?  Cha-ching! Want more energy efficient windows?  Count on $10,000-$15,000+ for that cost alone.  Need better insulation? The exterior walls are only 4”.  Every stud needs to be added onto to hold R-21 insulation, and installing insulation is a hot, itchy, messy job! This can turn into a $70,000 major headache very quickly!  Now for the worst news:  When you are finished, you still have a 1970’s “trailer” on the county records.  The home is already 30-40 years old.  You have just invested months of time, money and work, and you will never get your investment back.

DeTray’s Has a Better Option

Let us remove the existing home, and replace it with a beautiful, new Skyline or Kit West home from DeTray’s Custom Housing.  Your needs are different now.  We can design a home exactly the way you want it, stretching/flipping floor plans, moving walls, adding windows.  Our homes have energy efficient insulation, windows, pecs piping, safe wiring, new appliances, new wood cabinets, lots of drawers, granite or quartz counter tops, big closets, updated tubs, showers, sinks and lots of flooring options.  Your electric bill will go down and you don’t have to worry about major repairs.  We do all the work.  You just move in and live happily ever after.  Come see me so I can answer all your questions.

Laura Whitemarsh, Housing Consultant

Lora Whitemarsh

How to Get Rich Slowly – Rent or Own?

Everyone needs a place to live. The options are to rent or own.

When you rent, it is easy to relocate, and someone else is responsible for upkeep. However, it can be difficult to get out of a lease. There may be neighbors above, below and beside you. You may not be able to have pets. Parking can be limited. You can’t paint or decorate your way. The Landlord could sell the property, or move in and evict you. You are paying the mortgage for someone else. Rent increases every year. Your payments will go up, up, up. At the end of 1, 3, 5, 10 years, you have nothing but a stack of receipts, and the rent will be much higher than it is now.

At first, renting or owning have similar costs each month. While rents go up each year, a Fixed Rate Mortgage will have the same principle and interest payment for 30 years! While your income increases, your housing costs will be a smaller and smaller portion of your expenses.

Each monthly payment acts as a kind of forced savings. As you pay down principle, your equity (the amount of your home you actually own) grows.

Home Equity Grows Over Time

In addition, history shows that overall, homes become more valuable. According to the Federal Housing Finance Agency, home values have surpassed their pre-recession peaks by 16%. The overall trend is that home values and equity have gone up and will likely continue to do so. Think of what your parents paid for their home, and what it would be worth today!

It’s smart to build equity and financial stability while you enjoy your home. The equity in your home can eventually become liquid cash that you can access, either by selling your home, or borrowing against it. When you own a home, it is more than just a place to live; it’s also a financial asset. What is the leading wealth producer for average Americans? Home Ownership!

At DeTray’s Custom Housing, we design and build homes that are exactly suited to each family’s needs and desires. We can put together the whole package: land or community, development, and house. We have 8 furnished model homes to tour. You can have the joy and satisfaction of home ownership. Let DeTray’s staff show you how. Call, or come see us today.

Lora WhitemarshLora Whitemarsh

Housing Consultant