Video: Does It Make Sense to Move Up?

Friday Mar 12th, 2021


Does It Make Sense to Move Up?

The idea of moving up to a larger home can be an exciting prospect, but here are a few questions to ask yourself to make sure it is the right decision for you.

  • First, and most importantly, do you have sufficient income to afford the additional costs such as higher mortgage, maintenance, property taxes, insurance and moving costs?
  • How much equity have you built up in your current home?
  • Have you outgrown your neighborhood, want to be in a different school district or want to be closer to your job?
  • Are you better off moving rather than remodeling your home?
  • Do you need more room or just want a change of scenery?
  • How do current interest rates compare to what you’ve been paying on your existing mortgage?
  • What do current market conditions look like, and what positive or negative impact will they have on the sale of your home and the purchase price of a new one?

If you are considering moving up, talk to your REALTOR to help you answer these questions and guide you through the process.

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