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Customizing a Used Home For Sale Will Cost More Than You Think

Buying a new home vs. a used home

Perhaps you’ve heard that getting a used home for sale, rather than a new one, is a better value. After all, older houses have bigger lots, require no spending for mature landscaping, and use higher-quality materials. So even if used real estate doesn’t contain everything you want, you figure some remodeling will bring it up to your standard. All those decorating shows on TV reveal that the cost of renovation isn’t too high.

Bear in mind that those remodeling programs generally do not include the cost of labor in their price quotes, since the work is usually supplied the show host. Unfortunately, the biggest part of any renovation is labor, which makes any project cost far higher than you think it will. The 2014 “Cost vs Value” report produced by Remodeling Magazine reveals a more accurate picture of redo pricing according to area.

For example, in Southern California, a mid-range minor remodel of a kitchen averages about $22,718. A major remodel can run upwards of $65,216. Prefer higher-quality materials, premium appliances, and decorator touches? Then an upscale major kitchen remodel can start at $124,544.

Buying a new home eliminates this expense because you can usually choose among several options in floor covering, countertop material, and paint with your purchase. Some of the selections are part of the standard price and others cost extra. But what you spend is generally less than a major remodel because your changes are cosmetic. The spaces in a new house will most likely already meet your modern standards because they were recently built and rely on the latest design trends and construction technologies.

If you’re interested in looking at the advantage of buying a new home for sale, or have additional questions, please contact us.