By Christian Johnson, Branch Manager, Caliber Home Loans
At some point all homeowners face this conundrum: You love your location. You love your neighbors and neighborhood. But your home is old or too small or both. What to do?
Let’s start with: Are you willing to endure the trials and tribulations of a renovation project? Depending
on the scope of your project, you and your family may be displaced for months at considerable expense.
A renovation is a stressful process that requires a lot of your time and energy. Beyond interviewing
contractors, architects, and the bidding process, you will be making daily decisions about where the
project is headed and how to overcome problems. On the flip side, selling your current home, finding
another, and then moving is also a stressful process. Which one seems less stressful to you?
Next, explore your financial options: Seek the advice of your loan officer. How much home can you
afford and what payment are you comfortable with? Do you have the extra cash to deal with unforeseen
complications? Renovation mortgages are different and more complicated than regular mortgages. Does
your loan officer have the skills, expertise, and experience required to see the project through or can
they refer you to an expert in the field?
Once you have a budget, talk to your trusted Realtor: What price do renovated homes fetch in your
neighborhood? Is it worth the headache of renovating or would it be smarter to buy an already
renovated home in your neighborhood? Will your renovated home be the most expensive in the
neighborhood? If so, are you going to live there long enough for the rest of the neighborhood to catch
These are not easy questions to answer. Both renovating and moving are some of the most stressful
events in anyone’s life. But the improvement in your quality of life is worth the stress. Whichever
direction you choose, surround yourself with professionals. The right choices will make the process a
Christian Johnson is the Park Cities-Kessler Park Branch Manager for Caliber Home Loans. He has more than a decade of mortgage experience in listening to customers’ needs and determining the right path for present and future financial success.
Christian is widely considered the “go to guy” in the mortgage industry. His attention to detail and tenacity in today’s financing world to provide a hassle-free loan acquisition and closure reveal why he has been chosen as one of the Best Mortgage Professionals in Dallas year over year.
You can contact Christian by email at Christian.Johnson@CaliberHomeLoans.com or by phone at 214.763.8767.