Deciding to Move

Build.
It's a pain, but it's over in a year.
Remodeling is forever.
If you build, you can get exactly what you want.
LBC

I suggest to build. Finding exaclty what you want may be hard. Build what you want and add the high quality finshes later if you need to....but you'll get the layout you want by buliding.

We built the house we are in now and hope to build again in another 5-10 years. We want to go ahead and get a big one-story with more land than what we have now.

If there is land available where you want to live and you can afford it, build it.
You could talk to a builder, designer, architect and tell them what you want and see how much it would really cost. It may be more than you think, or possibly less. You said you are very picky, so probably more. I've seen very picky people change their minds a lot and that starts to cost money. Once you okay a plan any changes you make mean more money to the architect or designer to make changes, so that initial quote/price changes. A lot of people don't realize that. Also any changes you make that you THINK are minor or easy/simple may not be and could be expensive.

There is always the option to buy and remodel, if the house has good bones ( structure) you could always gut it and make it what you want and it could be cheaper than building. You could also run into problems there.

I don't know how much money you have to work with or how far money goes in Chicago. I know exactly what I want and know that in my area, buying a home that already has it, is out of my range. There isn't land available so building isn't an option. Not really any home complexes going up either, and the few that are.. way too expensive. I am going to buy and renovate.

If all you need is an extra bedroom and larger kitchen, it would probably make more sense to add on to your current home. Now, I say that without having seen your house, so I don't know what all it would entail. Have someone come look at your house and tell you if what you want is possible and roughly how much it would cost.

As for the garden, you could switch to square foot gardening, it really maximizes space. Also vertical gardening is a good way to expand what you can grow. That could possibly solve the garden issue.

Good Luck!

Unless your are a multi-millionaire and the skies the limit funding, you will get close to what you really want.

Sit down and think of all the things you really think you need and the things that are really important.

1. You are cooks so you need a cook's kitchen (builders do make them)
2. You want 5 bedrooms.
3. You want designated rooms - not a great room all open.
4. You homeschool so you want a space for that.
5. You want a large garden area for vegetable growing.
6. You want x number of bathrooms and a partial near the schoolroom.
7 You want some land around the whole home so a slight country setting maybe needed.
8. You can get the basic house built and add the high end as you go since you like to "tinker" with the house.
9. You need to consider the cost of the heating and cooling of the home in the desire to move.
10. Your home upkeep, property tax, insurance will increase and are you ready for that?

Now go see an architect and builder and get a quote. Compare the quote to the cost of buying and remodeling. You will then have an answer or two to what you could/should do.

Know that what you decide you will be about a year or so out before you move into it.

Good luck to you.

the other S.

PS Ask what the charge is for per change so that you can keep that in mind when wanting to change things. Each change has to be submitted to the city for approval prior to building and they cost money.

Did I miss why you even want to move? Your opening question was "deciding if we should move or not." But your closing question is "look for forever home or just build it." Are you determined to move? It sounds as though the house you have spent a small fortune remodeling with high end stuff is pretty nice and to your taste. So why do you want to leave it?

I do think you should you consider building. That's probably what we will end up doing. I've been casually looking at homes online for the past 2 years, and there is only 1 house that I've ever been excited about (and it is in contingency right now). I'm going to contact the realtor of the house and ask him to tell me what builder and plan did it, as the subdivision still has some lots available and this house was everything I've been looking for in a home.

The home that we found is about $520k, which is about the going rate for high grade new construction in the area we are looking for.

It sounds like you have very specific needs, so building might be the best option for you.

I don't know why your realtor isn't working with you to help you find what you are looking for so that you can work the sellers of the new property (?) usually the realtor would have suggested this (unless you have not suggested to him/her that this is WHY you are selling).

This, of course is IF you go that way rather than building your dream home. The cost of a remodel added to the cost of the home you will buy may outweigh the cost of building, the only drawback to building the, 'dream home' would be that you need your, 'now home' to live in while you build, if your financial situation allows then that won't be a problem.

I wouuld sit down & crunch numbers, time allowance, etc. PRIOR to listing. Personally if I were you I would go with the new build, UNLESS as it sounds you really enjoy the remodel process. If you decide to buy rather than build be sure to engage a realtor who will work with you through the process so you don't have to stress if your home sells immediately.

Look slowly as things come on the market you like. Then make an offer contingent on the sale of your home - and be ready to put your home for sale immediately. This will make your offer less desirable to the seller, so you may have to make up for it in the offer price, but it may work out for you. Then you don't have to feel pressure to buy something that is not exactly what you want beause you've already sold your home.

Start looking today, go to every house that looks good. If you find one and want to make an offer put a contingency on it that your house must sell for the purchase to go through. IF houses are really selling as fast as you said then your house should see just as fast.....

Have FUN!!!!!

J.:

Why can't you add on to the one you already own? If you have the equity - then you might be able to borrow against your home (not always wise, but if it's a home improvement that doesn't price your home out of the area...it's wise)....maybe instead of building OUT you can build UP? So you still keep your decent yard and are able to do your veggie garden?

You asked what I do? I would do both...really.

I would get an architect to design a home for me and my family - finding out how much it would cost to build it.

I would talk to the real estate agent that you had yesterday and tell her what you WANT to do .... and see how she can help you find the right vacant lot to build on or find you that "dream" home....

My friends just sold their home. They put it on the market and it took almost six months to sell - it was just that kinda market here. They chose to live in an apartment (they found a 3 bedroom) until they found their "dream" home. They found it. They put an offer in and the owners are renting back until June - their son graduates from high school then goes off to college - and they are down sizing...so it worked out for them...it might work for you!!

good luck!

In our house before last we looked for almost a year before we bought and so we waited before we put our house on the market. As we got more serious about the house search we did a major de-cluttering of our house - rented a storage locker. Our house sold within a week. A year later we left the state and have to sell our house...our house sold within a week for $20K more than we paid. If your house is clean and decluttered and reasonably updated it will sell quickly. Good-luck.