Now is a great time for Move-Up Buyers.

Remember the theme song to the Jeffersons?

Well we're movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up 
To the east side. 
We finally got a piece of the pie. 

What are Move-Up Buyers?

Move-up buyers are not first time home buyers. They are people who are staying in generally the same area, but need a bigger home than than they currently own. Move-up buyers are usually motivated to buy something because they have recently gotten married or have expanded their family with children or extended family. They usually know a little bit about the area, the schools, the transportation, the walk-ability, but they know they need something different in terms of housing. Often times schools are a big concern because they often move after children are born or are close to school age.

Many agents view move-up buyers as a chance to get two transactions with only one client. As an exclusive buyer's agent, I do not assist move-up buyers with both sides of the transaction. I only work on helping them find their next home. And right now is a great time for move-up buyers. 

The inventory here is pretty low so it takes a bit of time to find the right next home. Once you do, the interest rates are very low so your money goes a bit further.

Because housing inventory is low, it is relatively easy to sell a home in our area right now. This means the risk of owning two properties and paying two mortgages is low. Rents are very high right now so many move-up buyers have decided that holding and renting their initial property is a better investment option.

If you currently own a home and are thinking about moving up to something larger to meet your needs, give me a call to Get Started.