Don’t be Upside-Down on Your San Diego Home
Attention San Diego Homeowners: Are you looking for a home remodeling contractor in San Diego to remodel and/or add an addition to your home? With housing prices on the rise, many homeowners are. There has never been a better time to do a home addition in San Diego County in quite a while. Cost per square foot is up to the heights they were in 2006 (Yay!). Many homeowners that have been upside down on their homes are finally exhaling and are at the break-even point or better. But, as an experienced home design/build company we advise you of one of the very important thing to remember; The Numbers Need to Make Sense.
Unless this is your “forever home”, and you can wait “forever” to recoup the investment and value, it’s best to build within a budget that makes sense financially. For example, if you paid $325K for your home in the 92117 zip code area in April of 2002, your home is now worth about $550K today. That means you can be qualified to build a substantial home remodel/addition to your home at this time and if you wanted to sell, it would be a good investment.
Unfortunately, if you bought the same house in the summer of 2006, you might not have the equity to borrow on, or if you do have the funds, you might have to wait a while before you could re-sell to break even.
Mortgage companies are busy again refinancing, doing second mortgages, and 203K loans for homeowners that wish to remodel or add valuable space. In some cases even lending to homeowners on what theirs homes will be worth AFTER the remodel/addition is complete!
Pick the Right Licensed Contractor
Selecting the right San Diego Contractor is important so that you stay within your budget, and at the end of the day the numbers DO make sense. Some contractors will provide a low estimate to secure your project and then, throughout the course of the project, will charge you additionally for items “not included” in the initial estimate. By the project completion you might pay more than any other estimate you received at the beginning and be upside down on your home!
With over 49 years in business, thousands of completed projects, 5 star ratings and reviews, Ritz Design Build will go through every aspect of what is included and not included in your “Fixed Project Investment” (No “Ups”). Call the San Diego home remodeling experts today at 858-248-9711 to set up a free estimate on “Making Your Dreams a Reality”.
