To Renovate or Relocate?

Online, January 4, 2010 (Newswire.com) - -
By Rick Pfendler
President of National Custom Homes

Do you like the location of the residence you are living in? Are you happy with your neighbors and nearby conveniences (i.e., schools, shopping, recreational and social facilities)? Then you may not want to pull up stakes and relocate elsewhere if your home is showing signs of age or no longer meets your lifestyle needs.

Renovating a home that has special merits continues to be a notable trend, particularly among owners of homes in "amenitized" country club communities and along South Florida's coastal corridor.

Structural and interior design facelifts may also be viable when considering the acquisition of an older home on a prime parcel of land. In fact, it's not unusual - especially with property on the ocean or Intracoastal - for existing residents or new buyers to raze the residence and rebuild it to meet their personal requirements.

To begin the renovation process, select a builder and then an architect based on referrals from reliable sources. Also see some of the work they have completed. Make sure that you feel good about the team you select. As professionals who are key to getting the job done, they are the point people for reviewing your "wish list" to see if it is attainable. They also may present concepts and solutions you had never considered. You may want to bring in an interior designer at this early juncture as well.

In order to set a budget for the construction portion, it's important to bring in the builder during the preliminary stage. That builder will work with the architect and designer who are involved with the structural design and aesthetic features of the renovation project. Your team should provide a range of dollar costs broken down by categories, such as demolition and new construction costs, new finishes and furnishings. The costs won't be etched in stone at that point because there are many variables. Based on those figures, if you think that your property value can support the cost of renovations, the team will begin design development (taking what you want to do and putting it into a specific plan). From there, the final budget will evolve.

Take into account your living conditions while the renovations are underway. If you just would like to modify the facade and there will be some minor demolition and reconstruction taking place, you may be able to stay in the home while the work is being done. The same may be true if the work is internal (i.e., bathroom, kitchen, adding an exercise area to your master suite or doing a complete addition), as long as you don't mind having to interact with subcontractors.

You may opt to live there and put some of your belongings into storage.

On the other hand, when major structural changes are involved, such as adding a second floor, you'll have to move out temporarily. This, too, is a cost to consider before your decision, unless you can stay with family or friends, or you are a seasonal resident and the work can take place when you are out of the area.

Based on my years in the homebuilding business, making changes in your residence can be affordable - and sometimes add to the resale value of your home - if you do your homework from the beginning. The budget will depend upon the extent of your "wish list," the feasibility of making each desire happen, and your ability to pay for the new look you want.

Rick Pfendler, president of Boca Raton-based National Custom Homes, has 42 years of homebuilding experience. He, his son Scott Pfendler and their team have delivered thousands of homes in many of South Florida's most prestigious country club and waterfront communities. He can be reached at (561) 988-1267.