Brie Bender - BIC BRG | Beach Realty Group
Deciding whether or not to upsize or downsize your home can be a difficult process. The selling season is upon us so if you are ready to sell, now would be the time to call one of our BRG listing specialists to get your home not just LISTED, but SOLD.
There are several things you should ask yourself to help you decide “Should I stay or should I go now?” If you answer yes to most of the questions, it may be the time to make a move.
1) Do you have enough equity in your current home to move without causing you a financial difficulty?
Your annual mortgage statement or contacting your lender to find out exactly what your payoff would be is a good start. You don’t normally build up much equity in the first few years of your mortgage but if you have owned your home for more than five years you might have some fairly significant gains. After checking your payoff information reach out to one of our many qualified BRG Realtors for your complimentary market analysis to see what the market price of your home could be.
2) Have you had a career change?
If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving. If your income has decreased, you may want to consider downsizing.
3) Have you outgrown your neighborhood?
The neighborhood you pick might not be the same one in which you want to settle down for good. There could be amenities that you wish the neighborhood had or were closer such as schools, doctors, and work.
4) Do you need a larger living space but there are there reasons why you can’t remodel or add on?
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 will also 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. Ask your BRG Realtor what they see happening locally.
6) Are interest rates attractive?
Low rates help you buy “more” home, and also make it easier to find a buyer for your current place.
7) Is maintaining your current home becoming difficult to manage?
A BRG REALTOR ® can help you decide whether a smaller house or condo would suit your needs better.