COMPARING MOVING COSTS TO REMODELING IN WESTCHESTER

COMPARING MOVING COSTS TO REMODELING IN WESTCHESTER

My last blog was on whether to renovate or move and discussed things you should consider that would make you want to stay.  But, what if you decide you are on the fence and may want to make that move to another state or even to upgrade or downsize within New York.  


Here is a checklist of some of the costs to move to consider:


  1. Improvements that still may be needed to make house saleable at price you want.  Antiquated kitchens and bathrooms, roofs, plumbing, electrical, structural issues will bring lower asking price. What may be worth upgrading to draw attention to your home and get a better asking price.

  2. Real Estate Commissions

  3. Actual moving expenses.  Depending on the length of move and the amount of furniture, this can amount to several thousand dollars

  4. Employment.  Have you made sure that you are able to gain employment in your new location if you are still working?


Comparison costs and other factors to consider between where you live and want to move:


  1. How much equity do you have in your house?  Will the downpayment be covered on new home by selling current home?  

  2. How much are the houses in the new location?  Will you get more for your money?

  3. What are the finance charges you’ll pay in buying the new home?

  4. How do property taxes and utility bills compare?

  5. If need them, how do school systems compare?

  6. Community amenities


If you decide you may want to take that moving step, the first thing you should do is get a comp analysis of your home and know what it can sell for. We do this on a regular basis for people who are considering listing.  This is a free service of all real estate agents.  You also would want to contact a real estate agent in the location you want to move. Interview several on the phone before deciding and work with someone who knows you are moving from out of state and does not mind taking the time to send you listings in the area and advise on the different neighborhoods and amenities.  You want someone who says “yes” if you ask if they will show you around when you visit.  Not just hand you a map with listings and says enjoy your visit. (This actually happened to us a few years ago!). So, ask if they work with out of state buyers and be honest about your possible time frame.  Also, ask what the rental market is.  Each time I moved growing up, we always rented in the new state for a year so that my parents could find the house they really wanted.


If not being forced to move due to employment, weighing your cost options is always helpful when deciding whether to remodel or move.


If you are looking for a comp analysis of your current home, or you are a buyer just moving to the area from out of state or locally, feel free to call/text me at 914-523-5087 or email me at [email protected]


Thomas Ricapito Headshot
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Phone: 914-804-3048
Dated: January 9th 2015
Views: 1,785
About Thomas: I got into real estate sales by accident in 2006. At the time, I recently earned a Bachelor's Degre...

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