If you are looking to buy or build a new home, the first step in the process should be assessing the cost of your renovations and the total cost of the entire project. This is the time to get a good idea of what you think the cost will be. If you are unsure about the cost of your project, be sure to do your research on the cost of the renovations versus the cost of the whole project.
Before you can have a good estimate of the total cost of your project, you need to know what you plan to do with the money you get from the sale. This is called “the sale price.” This is the amount of money you are getting for your home, minus the money you spend on the remodel.
For the first quarter of 2012 our home sold for $115,000 less than our remodel.