Should You Invest in A Bigger Home or Upgrade the one You Have?

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This is how your basement could look like with a bit of work

This is a question that is on every homeowner’s mind. But before you move in a new home, there are a few things that you need to consider.

Evaluate Your Financial Situation

Moving to a bigger house should come with an increase in income for you to be able to afford the increased day to day expenses. Aside from that, you need to have saved away enough money to put on a huge down payment. The first step is to look at your current finances and talk to your lender to offer you the available options.

Negative Impact on Your Cash Flow

New homes can have a negative impact on the cash flow. Monthly obligations such as electric bills, water and other utilities may make sustaining a new home difficult. Before you take the leap and make the upgrade, you need to factor what it will cost you to stay in that house.

Turning the Basement into a Functional Room

If you have lots of unused space in your basement, then you can upgrade your current home. Basement upgrades won’t cost you lots of money. With a good planning strategy, you could have your own dream home. The first step is to evaluate the amount of space that you already have, but don’t use.
At Mt. Drains and Plumbing, we have helped countless home owners save money by upgrading their basement. A home theater, a teenager’s room, a home office or even a living room could look great in your basement with just a bit of sprucing up.

And, if the basement is not enough for your expanding family, you can also turn to building an extra room in your backyard or working wonders with your attic.

Everything is possible with a bit of imagination and we are here to help turn your current home into your dream home.

Don’t spend more – spend wiser!