Making the decision to sell your family home isn’t easy. Mark Armstrong presents the options available for you once you’ve decided to sell your property. You can either make a few renovations to improve your home’s market value or level the property to create two properties and sell them separately.
Renovating your property is easier and faster than subdividing. However, to make an informed decision, you have to compare the figures. If you’re planning to renovate your home, you need to consider the cost and the length of time it’ll take to complete the renovation. On the other hand, if you choose to subdivide your property, you need to consider the cost of demolishing your home, cost of permits, architect fees, labor cost, cost of materials, interest, rental cost, and the cost of selling the new properties.
If you find this route more profitable despite the hassle and the load of work that you need to do, then by all means choose this option. Whichever you choose among the two options, make sure that you’ve studied and analyzed the figures first before finalizing your decision.
You can read the whole article here.
What do you think is the best option for your property?