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By Stephanie Kenyon
Times Newspapers Staff Writer
So you’re considering doing some renovation on your existing home ... but that new model down the street looks mighty appealing too.
How do you decide when it’s time to move and when it’s time to remodel? For the most part, doing the math will be your ultimate guide.
Movin’ on up
In general, experts will tell you that it’s cheaper to renovate your current home than it is to move to another resale house in the same neighborhood, unless of course, you plan to tear down your existing house and rebuild it from the foundation up.
When you add up real estate agent commissions and other costs to sell your old home and buy the new one; the cost of a new mortgage, including closing costs, and the cost of hiring movers or renting a moving van, you will probably find that improving is much cheaper than moving, but there are other questions to consider.
Are you just ready for something new? Are there logistical benefits to moving out of a particular neighborhood?
See RENOVATE, Page 6
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