Is your family growing? Do you need more space to accommodate new hobbies or a new home based business? If so, you have two choices: remodel your existing home, or buy (or build) another home. It's never an easy decision, but a few guidelines may help.
What is the present condition of your home? IF you are building a major addition to an older house, keep in mind that the present plumbing, heating/cooling, and electrical systems may not be able to handle the extra load. These systems may have to be upgraded, too, along with the remodeling project itself, adding extra expenses to your project.
If you're building out, rather than up, will your lot be able to accommodate the new addition? If you are close to neighbors, there are often easement laws that restrict how close to your neighbors' property lines you a re able to build.
Do you like the layout of your house? If your house has a lot of bottlenecks, adding more space to it won't necessarily ease the congestion in those areas. Most likely, those areas will need to be remodeled too. If you're yearning for a whole newlayout, it may be best to consider buying another house.
Whatever your decision, your credit union is ready to help with the financing, whether it be to remodel your existing home or go shopping for a new one.
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