November 26, 2023

New purchase or home remodel? Which makes better sense for you?

New purchase or home remodel? Which makes better sense for you?

Interest rates are at the highest they’ve been in 30 years and the Tacoma housing market is still plagued with scarce inventory and skyrocketing prices. But your family is expanding and your current space is getting tight. What is a homeowner to do?

Rather than taking the risk of a higher mortgage payment and dealing with the hassle of moving, we at York Enterprises have helped our clients successfully update their current living space to accommodate an evolving household. We explore various avenues to rejuvenate your home, such as renovations or room extensions. On the other hand, you may be considering demolishing your current home and starting from scratch with an entirely new construction.

Often, home remodeling projects can transform your home at a fraction of the cost of building a new one or moving to a larger property, but if your Tacoma home is older, potential challenges might push the costs closer to those of a new build, particularly in older homes where unexpected issues may arise. 

If the renovation extends beyond a small area, disruption in your lifestyle might be a factor to consider. You will have to adjust your comfort expectations or even find temporary living arrangements during the construction. Although renovations typically take less time than building a new home from the ground up, market conditions can lead to longer project durations, ranging from 6 months to a year or more for substantial project scopes. 

Renovations or additions almost always involve compromises, and your aspirations may not be doable considering your current layout. Desiring design elements like vaulted ceilings or a completely revamped floor plan may not be feasible due to the position of bearing walls or other parts of the house layout.

In some cases it makes the most sense completely demolishing your current structure and building a fresh new custom home. While the cost is considerably higher, there are several benefits that come with a clean state.

The biggest benefit of custom home construction is the limitless possibilities to tailor to your family’s specific needs. Your vision and priorities come first and our design-build team is able to integrate all of your vision and priorities without limits or compromises. 

Another important bonus is the ability to install energy efficient components with lower maintenance costs that may have been frustrating you with your old home. Modern wiring and security systems can finally reduce old safety concerns. Also, new plumbing systems might give your Tacoma home decent water pressure for a change!

Building a new custom home in Tacoma does present its challenges. First, be sure your home isn’t on the historic registry and if so, contact the Historic Preservation Society to discuss your options. Pierce County and City of Tacoma have several building codes and guidelines to consider, but the York team is very versed in local regulations and we are happy to guide you through the paperwork.

The York Enterprises design team follows a proprietary process to ensure your needs,  budget expectations, as well as the realities of the project are blended together to ensure a successful outcome. We are experts in aligning the design vision and determining finish levels of your custom Tacoma home remodel. We conduct several initial upfront interviews and thorough planning meetings before commencing work because we want to make sure you feel the decision you make - whether it is making an addition, completely remodeling your home or starting from scratch - is the right one for you.

The decision to add, remodel or entirely reboot your home to accommodate your family’s expanding living needs is one that requires an expert partner to walk you through the pros and cons of each. Our team of designers, planners, managers and craftspeople are ready to help you explore your options. Talk to us about your home remodel today!

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