Moving Up In a Down Market
If you bought your home several years ago and decide that you want to move, this is a good opportunity to make a move up. You might not get as much money for your current home, but you will make it up on the buying end.
Example:
Your home was once with $350,000
-
$350,000 (peak price)
-
-52,500 ( down 15 % from peak)
-
$297,500 (current price)
The home that you wanted to move up to was listed at $750,000
- $750,000
- -112,500 (down 15% from peak)
- $637,500 (current price)
$112,500 savings on the purchase of their new
$52,500 loss of their old home
$60,000 GAINED!
You can afford to sell move up in the correct market if you price home accordingly to recent years!
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