Moving Up?

Reblogger Roy Kelley
Real Estate Agent with Realty Group Referrals 16766

Original content by Dallas Chambers

These questions will help you decide whether you're ready for a home that's larger or in a more desirable location. If you answer yes to most of the questions, it's a sign that you may be ready to move. 

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you've owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you're making more money, you may be able to afford higher mortgage payments and cover the costs of moving. 

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you'd like to be closer to your job or live in a better school district. 

4. Are there reasons why you can't remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn't large enough, your municipality doesn't allow it, or you're simply not interested in remodeling, then moving to a bigger home may be your best option.

5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you'll have more selection and better pricing as you seek your new home.

6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

Dallas Chambers

RE/MAX Agents Realty

Office:  770-922-7777 X316

Cell:     770-595-1541

Web: www.dallaschambers.com 

E-Mail:  dallasc@remax.net

Each Office Independently Owned and Operated.  All information deemed reliable but not guaranteed.

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Rainer
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John Armstrong
Coldwell Banker Heart of America - Bloomington-Normal, IL

Roy 1 more reason could be has your family changed. Are the children leaving the nest or are you having more children?

Mar 29, 2010 11:36 PM #1
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have a beautiful sunny day in Maryland. However, another freeze warning is posted for tonight.

Apr 05, 2016 12:37 AM #2
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We had a beautiful morning in Maryland and I took a long photowalk through Kentlands and Lakelands. 

Have an outstanding weekend!

May 14, 2016 04:07 AM #3
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have another beautiful day in Maryland and life is good.

Have a great Friday and an outstanding weekend!

Jun 09, 2016 11:21 PM #4
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have a lovely summer Saturday in Maryland. I began the day with a long walk through our community.

Aug 27, 2016 03:41 AM #5
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Tuesday morning to all. Have an outstanding week and a most productive month.

Nov 14, 2016 10:03 PM #6
Rainmaker
5,346,941
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We have a beautiful sunny day in Maryland. Dolores will be attending a luncheon and a card game at Montgomery County Club. Life is good.

Mar 08, 2017 07:12 AM #7
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Rainmaker
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Roy Kelley

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